Things to know before investing in cryptocurrency Litecoin (LTC).

By Lềm Thị Phiến | An an | 6 Jun 2020


LTC is the electronic currency born as payment task, however, with the collapse of the Litepay project in March 2018, it can be said that LTC has broken promises to investors.

Charlie Lee, the founder of Litecoin, sold all of his LTC, not only did he sell it at the top, or at least that's what he said. Although there are mixed opinions on this, stop for a moment to askyourself, do you want to invest in a project that its own father has sold out?
Choosing whether to invest in LTC may be difficult when the market plummets in 2018, but you should learn more about LTC through its articles. Just as you have to equip yourself with solid knowledge about Litecoin.

I will give you some advantages of LTC as follows so you can have more confidence in this coin.

First, Charlie Lee wants to withdraw from LTC so the coin can ensure its decentralization.
You can be assured of trading globally and for free. Thanks to the Peer To Peer mechanism, LTC's transactions are fast and free.
Good security because it is protected by an information encryption system.
Being open source, they are not subject to the control of any individual or organization.

However, there are definitely pros that have disadvantages:

Few users: Litecoin, although convenient, has not been in market for a long time so its coverage is limited, many people do not know. Therefore, usually Litecoin only makes small transactions.
Social issues, hackers: Litecoin is not managed by any organization that is both a point of benefit but a double-edged sword. It can cause criminals to take advantage of sophisticated money laundering.

Difficult to use if you do not know the technology: You have to spend time learning to be able to conduct transactions.

Make sure you understand LTC and your finances before investing.

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