Will Litecoin Follow Ethereum?
The cryptocurrency market is ever-changing, and if you don’t follow the trends, you might fall behind. Find out the difference between Litecoin and Ethereum, and how you can profit from exchanging their tokens.
But first, let’s discuss the basics — how the two work and what the future of those cryptocurrencies looks like.
What’s Next for Litecoin?
By its nature, Litecoin (LTC) is a Bitcoin fork, a wanna-be Bitcoin so to say. What makes it attractive is a considerably shorter time of transaction and lower price for transaction processing. Litecoin’s all-time high was at $375 in December 2017. As of April 2021, Litecoin stands at $250-260 and continues to decrease in value.
But what are the prospects for Litecoin’s future? According to statistics and predictions made by PrimeXBT.com, Litecoin is going to soar to $600+ in 2021 and $2,000 in 2022-2023. Yet, it is then going to plummet and most likely complete the whole cycle hitting approximately $200 again. This means that if you have previously invested in Litecoin, you can sell it in 2021 to make a quick profit or hold the coin for the long-term as there is a high probability it will continue rising in price.
Why Ethereum Is a Better Choice
There are a bunch of alternatives you can choose from when exchanging your Litecoins. One of the best options is Ethereum (ETH). Ethereum has a better potential since it’s not just a cryptocurrency — it performs a role of an ecosystem and a platform for creating decentralized apps and smart contracting.
Here is a brief comparison of Litecoin and Ethereum. It will help you understand their main differences.
|Date of creation||2011||2015|
|Structure||Peer-to-peer crypto and open-source software platform||Decentralized, open-source blockchain platform with smart contracts|
|Average transaction cost||$0.045||$10.79|
|Block time||~2,5 minutes||~15 seconds|
|Supply limit||84,000,000||unlimited (at the moment)|
If we talk about the future, Ethereum is likely to progress. It’s due to the fact that over 200 people are constantly working on its improvement. The new Ethereum 2.0 upgrade is coming. It will introduce new key features such as:
- Staking – moving from proof-of-work to proof-of-stake (it will make Ethereum transactions faster and more energy-efficient)
- Sharding – division into separate parts that will be operating simultaneously (it will radically enhance productivity)
The upgrade will drastically change the current crypto industry. One thing is for sure — you don’t want to miss the opportunity to get it before the upgrade.
For this reason, we truly believe that today can be a good time to invest in Ethereum. And to help you save your time and money, we did our research and found the perfect platform — Godex.
Start Exchanging With Godex Today
Godex is a perfect website for beginners. With services provided by Godex, you will be able to exchange your Litecoins or 200 other digital coins in a matter of 5-30 minutes. Furthermore, Godex cares about their clients, that is why exchanging cryptocurrency on Godex won’t require you to register or comply with any KYC requirements.
You can always use Godex as a calculator. For example, you can use LTC to ETH exchange calculator to track current exchange rates for free. And when you feel like it’s the right moment to exchange, all you have to do is to follow a few simple steps in order to exchange your Litecoin tokens:
- Type the amount of Litecoin you want to exchange in the “You send” field and click “Exchange”.
- Fill in the “Destination address” field by entering your wallet address below.
- Make sure that the information you entered is correct and press the “Exchange” button once again.
- Wait for your deposit (Godex will automatically create an Ethereum deposit address for you).
- After the transaction is done, you will be able to check out more detailed results on the “Completed” page.
Godex will find the best rates on the market and provide you with top transaction speed. Godex provides absolute anonymity and unmatched efficiency in comparison to other exchange platforms. Its simple design and easy-to-use interface won’t leave you feeling puzzled. The platform is also planning on launching an app for Android or Apple devices.
With Godex’s friendly customer support service, you will never be left on your own with your issues. Top-notch crypto specialists are ready to answer all your inquiries at request. All you have to do is to go to the “Contact” page and share your issue.
Despite a 10-year presence on the market, Litecoin has failed to evolve, and it’s most likely doomed to live in the shadow of its bigger brother, Bitcoin. On the other hand, Ethereum represents a work in progress. Being much cheaper than Bitcoin, Ethereum holds second place in terms of value on the cryptocurrency market.
Ethereum has a greater potential to evolve in the future due to its blockchain structure. Remember, it’s not the strongest ones that survive in our hectic world — it’s the ones that are more willing to adapt.