Litecoin Price Prediction 2018: Why You Should Buy Litecoin

All of the internet users might have heard about Bitcoin, but very few have heard about Litecoin. Is it a lite version of bitcoin? Or Is it a competitor to bitcoin? Or does it have less value? What is the Litecoin price prediction? Is it easier to buy or use? Or completely different thing? A lot of question arises with it. Here we are going to provide you all the information you need to have about Litecoin. If you also want to know much or all about Bitcoin too, we have even provided the full detail information about Bitcoin. To know more about Bitcoin check here.

What is Litecoin?

Litecoin is also a Cryptocurrency similar to Bitcoin. They are virtual currency and can be bought or mined easily through the use of online services.

It also works same as Bitcoin as an open source software in peer to peer (P2P) network and was developed and launched by ex-Google engineer Charlie Lee in 2011. Lee was inspired by the digital currency “Bitcoin” and that’s why Litecoin has also developed using similar technology and almost identical to it.

Litecoin doesn’t have any central authority and works on mathematical equations of the blockchain. So no Government or any organization or agency has control over the distribution and production of Litecoin.

Litecoin name itself suggests its meaning, “lite” means the lite version of Bitcoin and “coin” means currency. It is faster and cheaper than Bitcoin. So yes it is a competitor to Bitcoin.

Litecoin can be used as currency to buy or order goods and products as normal real money do. Litecoin needs a wallet, as similar to Bitcoin wallet does, Litecoin wallet is also used to store Litecoin online.

In 18th December 2017, the Litecoin price reached the all-time high that was $360.93 which was hundreds of time higher than Litecoin price few year ago.

They are completely volatile currency to invest on. Value of this currency is not stable but gradually increasing since its release in 2011. Litecoin is using the cryptographic protocol which controls the production and mining of Litecoin itself

Litecoin facts:

  • 1LTC (Litecoin)= 156.93 USD (United States Dollar) at the time of writing.
  • It is developed as a digital currency for global and universal use.
  • A cryptographic protocol is used to transfer and for production of Litecoin.
  • They are also produced by mining as Bitcoin and will be available higher in number than Bitcoin, almost four times more than Bitcoin. Bitcoin will only get produced up to 21 million whereas Litecoin will be produced up to 84 million.
  • Litecoin is an open source software project released under the MIT/X11 license so it can be modified and copied or run by anyone.
  • Litecoin being faster and cheaper than Bitcoin, it is also better than Bitcoin as transaction time and mining are faster and easier.
  • Mining of Litecoin doesn’t need highly powerful computers but a simple home PC also can be used to mine Litecoin.
  • Each blockchain generation is 2.5 minutes only which is very less as compared to Bitcoin which has 10 minutes of generation time.
  • It saves time and energy to mine Litecoin.
  • Litecoin works on the algorithm similar to Bitcoin.

 

Why Should You Buy Litecoin?

Everyone in the world wants to have a lot of money. People are chasing money and even doing anything to earn few or small amount of money as well. Investing in the cryptocurrency is risky as they are not stable and are volatile. But in this generation of technology and digitalization, showing back to digital currency will be a fool’s move.

It’s like an opportunity to become a millionaire by investing some 100$ and by doing nothing. It is also said that Bitcoin is like “Gold” and Litecoin is like “Silver”, and normal people can afford more silver that is Litecoin and less use of gold that is Bitcoin will be there.

Litecoin is the future of currency, people certainly will not be carrying the cash around as of now the world has started being digitalized. The cryptocurrency has its own blockchain and algorithm which is even better from the algorithm of bitcoin.

Litecoin’s algorithm is self-powerful from which they can track and keep the whole total ledger of the use of currency without showing the user’s personal information publicly, whereas anyone can view what kind of transaction was carried out using this cryptocurrency.

Litecoin will be used for day to day use and it’s even faster and cheaper and even more in number than Bitcoin. People will feel easier to use Litecoin than Bitcoin. Litecoin price is going up and up since it has launched so it’s clear that it won’t be unprofitable to buy Litecoin now.

The use of Litecoin will certainly save your money as there is no tax while using Litecoin to transfer to any other country or no need to pay extra tax while buying any product. It removes the third party that is government or tax issuing organization and people will get products and services at a cheaper rate.

Note: The major companies like Microsoft, Wikipedia, Save the Children, Ellenet, Overstock etc are accepting the payment through this cryptocurrency, yet still few countries have declared the use of cryptocurrency or any digital or online currency as illegal. So you need to make sure you are not breaching any local laws or country’s law which are you bound by investing or using of Litecoin.

Litecoin is volatile currency so investing in it may risk your money, and using Litecoin may be risky too as no government authority backup or support your loss. And it’s totally the user’s responsibility or risk to use Litecoin.

Litecoin can be lost by human errors or by forgetting the password to the wallet and once the transaction is carried out it can’t stop and even the fear is if mistakenly the wrong transaction is carried out there is no authority to complain about the loss or ask for returning the transaction.

And even they can not be used in different transactions as the use or application of Litecoin is limited to some companies or organization only. So they don’t have yet a broad scope of application.

Litecoin Price Prediction:

Here is the Litecoin price prediction for 2018.

S.N.


Date


Minimum Price (USD)


Maximum Price (USD)


1.


March 2018


182.288


193.238


2.


April 2018


193.366


207.071


3.


May 2018


208.309


220.261


4.


June 2018


219.901


238.019


5.


July 2018


237.549


248.618


6.


August 2018


247.519


264.489


7.


September 2018


265.867


270.215


8.


October 2018


270.863


283.188


9.


November 2018


283.282


301.556


This is the Litecoin price prediction for 2018.

 

Today’s Litecoin price

How to buy Litecoin?

Litecoin can be bought by cash or wire transfer or PayPal or online with credit cards. There are many websites which provide you to buy Litecoin. Here is the step by step full detailed process on how to buy Litecoin:

  • You must have to get a Wallet for Litecoin.

Wallet for Litecoin is similar to the Bitcoin wallet whose purpose is to store the Litecoin with a private key by encrypting the wallet. There are many popular wallets available such as Coinbase, Exodus, and Jaxx, you can choose any of them. If you do not feel online wallet secure, you can also have offline wallets like TREZOR and Ledger as well.

  • Select an exchange

We all know that the market of Bitcoin is bigger and Litecoin has just come in competition. So it’s difficult to find an exchange for Litecoin easily. But don’t worry, here we have provided exchange name which can directly exchange USD or EUR into Litecoin or else you can also exchange Bitcoin into Litecoin by first buying Bitcoin and then exchanging them into Litecoin with some popular exchanges like Polonix, BTC-e or Shapeshift.

  • To Buy Litecoin With a credit card you can choose:

Coinbase: It is most popular among Litecoin exchange and directly allows you to buy $500 worth of Litecoin using a credit card. The exchange fee is comparatively low and allows conversion from 33 countries around the world. For buying more than the above-mentioned limit, buyer needs to verify their identity.

Bitpanda: It also allows the buyer to buy Litecoin directly using the credit cards but the buying limit is comparatively low up to 600 EUR only. Buyer can also buy using Skrill account, SEPA transfer or SOFORT transfer but to buy Litecoin using Bitpanda, buyer needs to verify identity.

Bitstamp: It allows the buyer to buy Litecoin through electronic transfer or wired transfer in USD or EUR. Bitstamp has remained in the exchange market as the oldest cryptocurrency exchanges. It also allows the buyer to get Litecoin through the exchange of Bitcoin to Litecoin.

  • Transfer your bought Litecoin to your Wallet

Once the selection of the exchange is done, you need to create an account and buy the desired amount of Litecoin. You need to make sure to transfer these Litecoin to your Wallet otherwise you might have one risk of losing these Litecoin by hackers or by shutdown of the exchanges.

  • Buying from Paypal and Exchanging Bitcoin into Litecoin:

Another method to buy Litecoin is to first buy Bitcoin from PayPal and then only you can exchange them with Litecoin. But the problem is there’s no direct method to buy Bitcoin or Litecoin directly through PayPal. Although you can use VirWox (Virtual world of exchange) website to buy Bitcoin which is a bypass method to buy Bitcoin. It also causes transaction fees to be higher.

Note: The minimum amount need to be bought using this method is 0.002BTC, so only use this method to buy a higher amount of BTC. And the process will take 2 days to complete. I do not suggest you use this method, as it is more time consuming and difficult than direct method.

  1. Register a new account in VirWox
  2. By clicking on “not registered yet”, you can get an option to create an account in VirWox.
  3. Fill the required fields with personal information and leave the avatar name as ” no avatar” and click on register.
  4. You will be sent a confirmation email with a password.
  5. Change your password as soon as you confirmed, by clicking “change setting” as it is highly recommended for the security.
  6. Next, you have to go to “Deposit” and select the “Paypal Express”.
  7. Deposit the amount you want but there will a limit for a new user to deposit maximum amount. You must have to wait till deposit becomes sufficient to buy
  8. Since now you have money in your account you can buy SLL(Second Life Lindens) and then only you will be able to exchange them into bitcoin. For that go to exchange SLL to Bitcoin option.
  9. Once you bought Bitcoin, now you have to move them to your Bitcoin address or wallet and then you can use any exchanges like Shapeshift, Changelly, Polonix, BTC-e, etc.

Litecoin price prediction

Similarities And Differences between Litecoin and Bitcoin:

There are not many differences in between Bitcoin and Litecoin but more similarities. Litecoin is developed as an inspiration from Bitcoin. It can be considered as a little brother to bitcoin or a lite version of Bitcoin.

The world is being digitalized and this digital world has demanded the digital currency too so to fulfill these demands, new digital currencies like Litecoin, Bitcoin, etc are developed.

Both of these are open source software using the cryptographic protocol creating the block chains. Both are encrypted with private keys using a wallet. They both are virtual currency and has no physical existence.

Since the development, their value has continuously increased hundreds of time of their value at release. There is no authority to control production or to manage and has no central authority or governmental backup for loss in this cryptocurrency. They are volatile and have high risk while doing investment.

The Litecoin is faster and cheaper for the transaction and can be mined easily using any  PC whereas Bitcoin needs a high level of mathematics and computational power to mine. Time taken by Litecoin for the transaction is comparatively less than Bitcoin. The value of Bitcoin is quite higher ie $8000 and that of Litecoin is around $156.93.

The number of availability of Litecoin is more than Bitcoin. Litecoin uses script hashing algorithm whereas Bitcoin has used the SHA-256 algorithm which makes it more difficult to mine. The decimal values of Bitcoin will be complex for day to day use, which would make people prefer Litecoin.

Disclaimer: We just provide Litecoin price prediction which is not 100% accurate. Litecoin price just set according to the previous year, month and day’s performance and its activity. In some of the countries, investing in cryptocurrency is illegal so invest at your risk. We are not responsible for your loss or profit. 

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