This question is best answered by considering what factors are important to you in your investment decisions, and then considering the suitability of Litecoin amongst those factors.
Litecoin is one of the older coins in the cryptocurrency world. It was created in 2011 by a former Google employee, Charlie Lee. Litecoin is currently trading at $148.07.
Litecoins are not as popular as Bitcoin and Ethereum but they still enjoy some popularity among traders and investors.
Litecoin has seen a 1000% growth in 2017 and might be priced to surge again in the future.
Litecoin has been in the cryptocurrency spotlight for over four years, and it continues to show potential. Here’s what you need to know about Litecoin’s future prospects:
#1: Litecoin is on the rise
Litecoin has been one of the few cryptocurrencies that has continued to grow throughout 2021, while other cryptos have experienced a slump. Right now, there are around 84 million Litecoins in circulation and a total market cap of $10 billion USD.
#2: Low transaction fees
One of the best things about Litecoins is how low their transaction fees are. They only cost about $0.005 US dollars per transaction, which is significantly lower than Ethereum or Bitcoin with median fees costing around $1-3 US dollars per transaction.
In 2022, it is not very clear whether litecoin will be a good investment but in the long-term, the coin should grow.
Litecoins are an investment that you should consider if you’re looking for long-term returns with low risk factors.