Litecoin (LTC) Is Embroiled In A New Debate
Already Litecoin commands larger daily trading volumes and has more appeal as a possible payment system. What about Ethereum and Bitcoin?
It’s not impossible for LTC to overtake the leading two cryptocurrencies, but that may not be happening in 2018. Short-term, LTC will overtake Bitcoin as a micro-payment crypto.
And that is because of Litecoin’s possible usability for those everyday transactions that cannot withstand Bitcoin’s slow network.
Litecoin has an advantage over Bitcoin that even the harshest critic of this cryptocurrency should be able to acknowledge. That advantage rests on the fact that Litecoin is like Bitcoin, but much faster and cheaper. When taken as payment currencies, Litecoin beats Bitcoin because it is four times faster than the much-fancied bitcoin.
And if you are a company looking to integrate crypto payments into your business, then a choice between BTC and LTC should not be a tough one. If Litecoin gets accepted as a cryptocurrency for everyday payments, then the safest assumption to make would be that it will become the top coin in 2018.
All indication is that Litecoin [LTC] could be headed for the top spot as the crypto of choice for payments due to these 2 reasons: Litepay and Gemini cryptocurrency exchange.
Litepay adoption is key to Litecoin.
If you are looking for any reason that will make you hodl LTC, then Litepay is the answer. That should naturally lead you to ask the next question. Who is likely to adopt Litepay as a payment channel? Two giant brands in Amazon and Starbucks should convince you if you are already.
Global coffee chain behemoth Starbucks revealed earlier in the year that they would be accepting the use of cryptocurrency as a payment method at its numerous stores. It came out then that the company wasn’t looking at Bitcoin. What that meant was that the only one among the other alternatives, which makes sense, as Litecoin.
But it wasn’t just a matter of going for the next available option. Litecoin has Litepay, a payment system modeled on Bitcoin’s BitPay, but with Litecoin’s superior speed and very low transaction costs. Additionally, Litecoin is the only crypto among the top 10 with a kind of price stability that can help facilitate fiat payments. This is because Litecoin prices experience mild fluctuations that can be mitigated by Litepay’s instantaneous transactions.
There are suggestions that Amazon could also be considering Litecoin as a possible cryptocurrency for use on its vast network. The online shopping giant is not new to such propositions, but the possibility of it taking up Litepay is greater due to the appeal that Litecoin has.
Litecoin can be used for micro-payments due to its significantly low transaction fee and near instant confirmation time. For now, the suggestion that Amazon will take up Litepay has not been confirmed by either the online behemoth or Litecoin. Nevertheless, if it works out, it is difficult to see how Litecoin will fail to claim a spot behind Bitcoin in 2018.
Gemini Cryptocurrency Exchange to help with Litecoin market penetration
The announcement that Gemini was looking to add Litecoin to its trading platform is one reason Litecoin will be bigger this year. It just falls short of an endorsement by the Winklevoss twins.
Litecoin itself called it great news. And there is a reason to believe it will be as Litecoin seeks to come out of Bitcoin’s shadow in 2018.
The Gemini cryptocurrency exchange will add Litecoin onto its trading list. If this happens, as it is expected, then it opens up Litecoin for a massive uptake by enthusiastic investors. It has emerged that the Winklevoss twins are eyeing the two crypto assets associated with the original Bitcoin listing on the Gemini exchange.
This is the stated goal for the billionaire owners of Gemini. It may seem like just another listing, but it should be remembered that Gemini only offers Bitcoin and Ethereum pairs. Adding Litecoin definitely opens it up to another possible level of access.
While BTC is the better-known crypto, Litecoin offers faster transactions that are way cheaper compared to Bitcoin. In addition, having Litecoin and Bitcoin Cash listed on Gemini means that LTC futures will be on the cards too.
And that is all it will take for Litecoin [LTC] to overtake Ripple [XRP] and Bitcoin Cash [BCH].