LiteCoin is, I am convinced, undervalued, and there is no good reason for that, which means that the situation will fix itself and the coin will gradually increase in value.
Having the great advantage of being fully supported by the Trezor hardware wallet, which has sold millions of units, it’s a natural for people with the Trezor to add LiteCoin to their portfolio. I can understand the psychology of this, owning a Trezor myself. When you first get a Trezor and see which crypto-currencies are supported by the wallet, you don’t like to click on the option of LiteCoin and see blank space there, where you could have value stored. It’s also a fairly cheap crypto to acquire. At the time of writing, you can buy one LiteCoin for just €44-ish. And it’s currently just turning upwards from a dip.
Buy Now, or live to regret it
So now is the time to buy, in my humble opinion. Buy and hold, because it’s eventually, and it could be just within a year, going to be worth ten times its current value. And then onward and up, through the dips and highs, like most cryptos, going higher after each dip, even if it’s an extended dip.
Investopedia says, “…in regard to its block generation time. LiteCoin has a time of 2.5 minutes, compared with 10 minutes for Bitcoin. In practical terms, this means that transactions involving Litecoin will be confirmed four times faster than those for Bitcoin, according to Seeking Alpha’s Melwin Phillip.”
Meanwhile, Wealth Daily provides three good reasons to invest in LiteCoin. They boil down to better code, faster transactions, and probably more shopping use in the long-term.
Is it Worth it?
So is it worth adding LiteCoin to your portfolio? I believe so, and my projections tend to be correct over the long-term. Although there will be further fluctuations now that stockbrokers (cough and spit) have got into the market and are manipulating the prices to take profit on both the bull market and the bear market (I hate the concession of having to use those terms for crypto-currencies!), the price is going to rise over the long-term, not just because the coin is supported by the Trezor, but because it has merit on its own.
I will be updating this topic regularly, so please come back in a week for more info on LiteCoin.
As always, don’t be stupid with your money. Avoid the risks, buy on the lows, and have confidence enough to hold until you’ve made substantial profit, through the price trends that are bound to happen en-route. And never spend more than you can afford to lose and still be able to live comfortably. Best of luck. Ask your stockbroker (cough and spit) for advice, if you want to be persuaded to part with a lot of money. Ask your financial advisor before making any serious decisions. And ask your partner if you can’t think these things through for yourself and you want to be put off making any decisions. You could get your children to vote on it!