How high can Litecoin go
Bitcoin, Litecoin or Ripple - which altcoins should you invest in?
Trading in cryptocurrencies is booming and altcoins in particular have proven to be lucrative. Based on the following criteria, you should decide whether Bitcoin, Litecoin or Ripple are suitable for you.
When looking for a good investment, one inevitably stumbles upon cryptocurrencies these days. Bitcoin is known to everyone, but the entire topic of digital currencies is very complex and abstract. If you too want to trade in cryptocurrencies, you are faced with a large offer. Above all, the so-called Altcoins, i.e. coins that have been on the market for a particularly long time, are considered stable and lucrative. Experts are convinced of the currencies Bitcoin, Litecoin and Ripple.
This article will help you understand the blockchain process behind the different currencies. The online magazine Kryptoververgleich offers you further information as well as current price lines.
The blockchain revolution
In order to understand cryptocurrencies, you need to know the background of the digitally mined coins. The majority of all cryptocurrencies are based on the so-called blockchain process. Scientists and IT professionals agree that blockchain is a future-oriented technology that will replace conventional software database solutions in the future - hence the enormous growth potential. Behind currencies such as Litecoin (LTC), Bitcoin (BTC) and Ripple are decentralized databases that enable all members of the community to participate via an open source system. Blockchain databases are considered secure, transparent and flexible.
If you want to invest in an altcoin, not only the stock exchange price should be decisive for you, but also the project behind the currency.
Bitcoin: the crypto titan
It was the founders of Bitcoin who first launched a blockchain project in 2009. The basic idea was to enable members to carry out monetary transactions via a decentralized database system. Today you can already pay with Bitcoin in some online shops. But the altcoin is not only used as a means of payment, but above all as an investment. Those who trade with Bitcoin can make good profits. The currency has already proven this in the past.
In just twelve years, BTC developed into one of the most successful projects ever. In March 2021, the Bitcoin all-time high exceeded the € 60,000 mark. Experts agree that the trend has not yet come to an end. So you can still invest in Bitcoin or Bitcoin shares now.
Litecoin: Bitcoin's little sister
The Altcoin Litecoin is very similar to BTC, especially the technology and functionality of the blockchains overlap. LTC is also used as a means of payment. Many investors see Litecoin as a worthy Bitcoin alternative. But what is the difference?
The transaction costs are lower with Litecoin than with Bitcoin. Plus, payments are much faster with LTC. This is because a new block is generated there every 2.5 minutes, while with BTC this is only the case every ten minutes. Another difference lies in the limitation: In total, after all mining processes there will only be 21 million Bitcoins, but a total of 84 million Litecoins.
The cryptocurrency launched in 2011 has been rising steadily for a year and is therefore one of the cryptocurrencies with potential for experts. LTC cracked the all-time high of January 2018 in April 2021 - and the trend is rising.
Ripple: Peer-to-Peer Professional
Ripple is also one of the popular altcoins that you should take a closer look at. Here, too, the basis of the blockchain project is the idea of a decentralized database for money transactions. At the launch in 2012, however, the idea of integrating a foreign exchange market into this peer-to-peer database was innovative. Transactions with all known fiat currencies are possible.
Ripple reached its all-time high in 2017, after which the share price fell again. But the steep upward trend that the altcoin has been on since the beginning of 2021 has convinced stock market experts of the potential of the cryptocurrency.
Blockchain project and market value are crucial
If you want to invest in cryptocurrencies, you should always have a good overview of the different altcoins. The more you know about it, the easier it will be for you to track price lines and trade successfully in cryptocurrencies. Altcoins are usually the safer horse because they have already proven their potential. When investing in Jungcoins, in-depth know-how is required in order to be able to make a good choice.
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