Litecoin VS Bitcoin [ A Quick Review Guide]

Bitcoin vs Litecoin Comparision – A quick guide detailing several major differences between Bitcoin and Litecoin to help your decision.

Litecoin and Bitcoin relationship is not hidden from crypto lovers, it was Bitcoin launching in 2009 as the first cryptocurrency. After few years former Google engineer Charles Lee creates Litecoin – A clone currency of Bitcoin because of the same blockchain technology. Both of the currencies have their own communities, value proposition and market capitalization. Litecoin aims to fix the problems with Bitcoin.

Both of the coins are needed to be “mined”. Mining cryptocurrencies just like BTC and LTC requires specialized and powerful hardware.

Bitcoin is Gold and Litecoin is the Silver of Cryptocurrency treasures. What do we do with gold? STORAGE. What do we do with Silver? Use for day to day transactions.

How is Litecoin different from Bitcoin

Litecoin makes a transaction 4x fasters compared to Bitcoin. It was also the first cryptocurrency that performed in May 2017 at the Lightning Network transaction, and with the help of it, in one second 0.00000001 Litecoin was transferred to San Francisco all the way from Zurich. The price of Litecoin would ultimately increase even more once it starts to use Lightning Network. Litecoin has very minimal transaction fee in contrast to Bitcoin.

Litecoin as it performed amazingly well just like Ripple in 2017 with almost 8000% growth. A day came to Litecoin taking over bitcoin. Its price grew to $358 in December 2017 from $4 at the start of the year. On February 2018 however, it did drop to $110 following the price trend.

You might be in confusion whether the value of Litecoin and Bitcoin same or not. Have a look at today price of both of the cryptocurrencies.