Is it worth buying Litecoin? Isn’t it too similar to a Bitcoin? The answer is up to the person, but technically Litecoin has a better algorithm, has a smaller blocktime, but the popularity of Bitcoin is high and the coin itself is looked onto as some sort of a golden standard for other coins. Bitcoin also offers stability and a large market that has been already existing for quite some time, especially because of the market being volatile.
Yet it might be too hard to acquire a Bitcoin, Litecoin might be seen as a good alternative, especially because both currencies are easily converted one into another. People can trade Bitcoin to Litecoin and vice versa using an atomic swap, or one person can exchange the currency to the one that’s needed on the exchange platforms with the best possible rates and high security.
Litecoin is a cryptocurrency launched in 2011 by a former Google engineer Charlie Lee and it was based on the same model that Bitcoin had. Therefore it can be said that Litecoin is also a decentralized open-source currency, similar to Bitcoin in some way. Firstly it was intended to be a supported coin for a Bitcoin, in terms of helping with the shortcomings of the latter. Yet over the years, it gained its spotlight because of its different notable features that will be discussed later on in this article. Just as any other crypto, BTC and LTC can be exchanged one to another. However, let’s differ out some of the other similarities:
Just like Bitcoin, Litecoin uses blockchains, is a decentralized system and uses distributed ledger technology. But there are some crucial differences between Bitcoin and Litecoin.
The value of the currency is never static, even in terms of Bitcoin, and it’s been thoroughly discussed, just like the anonymity and the risks of hidden fees. Yet there’re some crucial points that can affect the value of the cryptocurrency both on the platform and exchange platforms. These factors are the influence of the media and liquidity, to name the few. The first one is quite simple — if the media portrays currency in a bad spotlight, people won’t buy it and those, who already have it, will discard it as quickly as possible. The second one comes with the understanding of how accurately one cryptocurrency can be exchanged to another. That means that if the liquidity is high enough the prices are established in the fairest way and the whole market is more stable.
Shortly speaking all of the transactions are clear, yet it’s not clear to the point of tracking down one person if speaking of general transactions. However, every exchange platform is registered as a company and is obliged to follow the rules of the country it’s registered in. Which leads to different inspections in terms of the exchanges and/or suspicious transactions.
All of the exchange platforms have their bright sides and are willing to show them off, such as the best exchange rates and zero transaction fees. Yet as it’s been mentioned before, if something’s too good to be true, then it isn’t true. People should consider some pitfalls such as hidden fees or wallet fees. The first one can be disguised very well. Yet different services can help one to avoid spending more than they should, so does Swapzone, which helps to highlight different fees, establishes fast exchange speed, anonymity and also aggregates offers from many trustworthy partners.
Swapzone accumulated all the convenience of a swapping service along with the best rate option and safety of the whole process of the exchange. There is no need using any supporting documentation, nor registration in the system.
To exchange Altcoins to Bitcoins with us is as simple as that: