Litecoin (LTC) is a popular cryptocurrency that has been around for a while. Do you find yourself with a keen interest in one of the first and most successful cryptocurrencies, but you have no idea what it is, how it works, or whether it is worth your investment? Well, don’t worry, we have you covered on the LTC question and a place to trade it.
This article will provide you with the necessary information that will add to your knowledge of Litecoin and how to trade it using a crypto exchange platform. Let’s check it out.
What Is LTC?
Litecoin is known for its reputation as the second cryptocurrency to appear on the market, shortly after Bitcoin (BTC). Both coins are similar, but LTC was tweaked by making some improvements to BTC’s technology. LTC is known as the tenth most valuable cryptocurrency in terms of market capitalization and has a maximum supply of about 84 million coins.
The coin was developed and launched in 2011 by Charlie Lee, a former Google engineer. It reached a milestone in 2017 when it became one of the top known cryptocurrencies to adopt a soft fork technology known as Segregation Witness.
LTC Price Chronicle
In December 2018, Litecoin was valued at $31.32, while in December 2019, the value soared to $42.37. As of December 2020, Litecoin was valued at $129.24.
LTC Price Predictions
Experts have predicted that Litecoin will be worth as much as $464 by December 2021. However, it has been predicted that between the years 2022 and 2023, Litecoin will witness a bullish run and reach a value as high as $900 by the end of 2023, while it may be valued at between $1,000 to $1,200 from 2024 to 2025.
Why Get LTC in 2021?
Apart from having the prestige of being the second cryptocurrency to appear after Bitcoin, LTC has been fairly consistent in the crypto space and could prove to be a smart investment. Here are some reasons why you should consider the coin:
Litecoin Fundamental Analysis: Litecoin boasts of over 100,000 active addresses and as many as 40,000 transactions daily.
Litecoin Technical Analysis: Litecoin shows that there has been a 272.39% change in price from 2020 to date with an average volume of one million coins traded within the same period.
Litecoin Sentiment Analysis: It is beginning to enjoy more social media mentions with more people looking its way. These are some of the factors that ensure an increase in value.
How to Exchange LTC
LTC is available on most crypto exchanges, such as Godex, Binance, and Coinbase. While trading modes on these platforms differ, it is important to know the terms and the necessary transaction information for each before using them.
If you want to trade Litecoin, for example using the Godex LTC to ETH converter, follow these steps:
Choose the currency pair.
Enter wallet address.
Exchange is done.
Litecoin is a promising coin. This article has been able to show that while also giving you a piece of basic knowledge on the second cryptocurrency to ever be created. Also, you should have an understanding of LTC’s value predictions and the Godex service to exchange LTC for other coins.