Litecoin created in 2011 by Former Google Engineer Charlie Lee and enter the market as a refinement of Bitcoin (BTC). Litecoin is a peer-to-peer open-source cryptocurrency that offers more opportunities for users. Because of its relatively lower value and the fact that it uses script and encryption processes, LTC can be used for everyday transactions.
Litecoin's success depends on the Bitcoin problem. The reason is that the majority of crypto investors prefer Bitcoin so that the term becomes synonymous with cryptocurrency.
If Litecoin used as a short-term investment, for example, only watching it for a few hours or days, then the best way to enter the LTC crypto market is when certain events occur that affect the price of the coin.
However, even though LTC has a high trading volume and is a favorite coin among investors, Litecoin Volatility becomes a bit risky. However, this can be ignored considering that LTC is already registered in various digital wallets such as Coinbase which means you can quickly sell or buy Litecoin to make a profit.
What if we use Litecoin as a long-term investment?
Making long-term investments means that you are willing to wait and see the value or price of your coins rise slowly according to our expectations. It also means that market volatility will not be a problem for you. The main reason LTC can be used as a long-term investment because Litecoin is a cryptocurrency that has a stable and established value, making it a less risky investment.
Then, what about Ripple?
the best thing about Ripple is that this coin is a trading tool for real banks and financial institutions throughout the world. Besides, Ripple transaction speed was much faster than other Cryptocurrencies like Bitcoin, Litecoin, and Ethereum. Transaction speed proves Ripple is 4 seconds faster than ether 2+ minutes or 1 hour before SegWit Bitcoin. Transaction costs are also lower.
However, unfortunately, more than 50% of the Ripple coin supply is still centralized, which means that this can have a bad effect on Ripple price predictions (Cryptocurrency is usually decentralized). Some experts argue there is no long-term plan at Ripple. Ripple is more functioned to promote technology transfer of the money and the coin is a secondary part of the overall developer strategy. This shows Ripple did not go according to the traditional rules of other crypto coins.
So who is the best?
The most interesting to investing in Ripple is that transactions are quick and cheap compared to Litecoin. Besides, XRP coins have established communications with trusted banks and financial institutions. Ripple also became one of the cryptocurrency coins that still survive and tend to rise in price amid the fall in crypto prices. Collecting Ripple coins is certainly one of the best choices for those who have large capital and of course the benefits of investing in XRP coins daily, pretty good.
Although Ripple looks more tempting because the price is affordable, but the growth potential seems limited. In contrast to Litecoin which from the beginning was created to contaminate Bitcoin so that the growth potential becomes more significant.
Whatever your choice, both have affordable prices and pretty good potential in the future. Of course, before you invest in the Cryptocurrency, you must understand the risks. Do not let you experience unpleasant losses in the crypto market because of an error in understanding the cryptocurrency market.