That’s the question many cryptocurrency investors and traders will no doubt be scratching their heads over as the market heats up this summer.
Some say Bitcoin has already gone too far. Just one Bitcoin costs many thousands of dollars. Many feel they’ve missed the boat already.
Litecoin has considerable potential as an everyday payment currency, with cheaper and faster transactions than Bitcoin, as well as being much cheaper to buy – Just $150 at the time of writing.
According to authors on StreetWise Reports, Investopedia and The Motley Fool, many cryptocurrency enthusiasts seem to believe so strongly in the potential of Litecoin that they’re liquidating a significant portion of their Bitcoins in favour of buying and holding Litecoin.
You may decide that holding a balanced portfolio is most sensible – for example, 50% Bitcoin and 50% Litecoin. Or you may want to trade between the two as their prices swing up and down in the coming weeks and months.
Litecoin, for example, experienced a price rally after news of a new Litecoin-based payment company (LitePay) was announced in February.
However the Litecoin price took a tumble in March, in part due to news of that payment company now being disbanded.
And who knows… perhaps they are selling their platform to a new buyer and will soon be back in operation with a stronger market proposition than before?
So, for many crypto enthusiasts, Litecoin represents one of the best opportunities to outpace the expected price appreciation of Bitcoin this summer and beyond.
A look at the technical charts of both Bitcoin and Litecoin reveal a similar pattern since the December highs, with a trend line now being watched very closely by traders.
And Litecoin appears to be gaining traction, with industry rumors of big brands looking to integrate Litecoin as a payment option during this year and beyond.
Wirex chose to integrate the Litecoin wallet into its platform ahead of other cryptocurrencies because of Litecoin’s track record and outlook.
The sad fact is that most ICO’s have already failed. Countless people invested money they could not afford to lose in hype and hope.
Most cryptocurrency exchanges will list many dozens of currencies, hoping to attract excited new investors to try their luck.
Wirex is focusing on the most reliable ‘majors’. The major crypto’s that show strong potential to survive and thrive as long-term commercially viable projects. This currently includes Litecoin, Ether, Dash, Ripple and several others.
With the introduction of the Litecoin wallet to the Wirex platform, customers will be able to exchange between Bitcoin and Litecoin, or buy and sell Litecoin directly from their Wirex currency account.
Litecoin can be withdrawn to any external Litecoin wallet and will be available as a payment option through future Wirex contactless payment services.
Sign up for a Wirex account and add Bitcoin or Litecoin to your wallet today.