In the last few days, Litecoin (LTC) has become the topic to be discussed in the cryptocurrency market. It is considered to be Bitcoin’s right hand coin and Litecoin has been supposed to rise up just as Bitcoin. All these assumptions and comparisons are right or wrong are subject to how you view the two coins. Surely to say, Litecoin has gathered many cryptocurrency dealers, shareholders and HODLers.
From the many reasons that are behind bullish trend on Litecoin, the main ones are listed under.
Litecoin Fork and Introducing Litecoin Cash (LCC)
The foremost thing to mention is that at the time when a coin faces a hard fork, it enters into a state of madness. This signifies a change in the procedure dealing with the blocks in a transaction.
On 18th February, Litecoin (LTC) is programmed for a hard fork and the fresh and new coin emerging from this fork, is said to be Litecoin Cash (LCC). Whoever possessing 1 Litecoin, will get 10 Litecoin Cash (LCC), which will be considered to be rewarding. Normally, a transaction speed i.e. a transaction is cleared in 10-12 minutes, as against this LCC shows the potential of just 2.5 minutes speed per transaction. The old machines which were considered outdated and longer in use can now be reused as LCC can be borrowed through the technology that Bitcoin has already stopped using. This makes LCC cheaper and also the energy used will be very less.
So, to say have patience and HODL onto your Litecoin and wait to get your Litecoin Cash fork. And those who do not have Litecoin (LTC) can acquire them before 18th. Again, Litecoin Cash is surrounded with disputes and rumors that Reddit is a cheat and so nobody should join it and also nobody should disclose their private keys to anybody online. So we have to wait and watch.
The next reason is that, there is an ongoing talk that Litepay is entering this month. Just as the fiat currency, Litepay will enable the Litecoin owners to pay bills for their daily expenditure. And in no time, the application and VISA-like card, will transform LTC to the preferred checkout currency. This will make it very easy to cash your ICO gains or crypto profits.
Litepay assures quicker and less expensive transactions than all other cryptocurrency to fiat app and any other card. The present Bitcoin payment cards have very heavy transaction fees, so Litepay is sure to grab many of the Bitcoin card users. Once the Litepay enters the market, it will surely lift the price of Litecoin and so to say that crypto fans will happily welcome such technology.
The third reason is the Selly payments. This is another payment policy which uses Litecoin as an option. At present it accepts Bitcoin, Ethereum, Litecoin, PayPal, Ripple and many others. One central application is needed, and there is no need to link various online payment accounts with your wallet. Rather all this is done easily at Selly. Now for your business, any type of code is not required to assist payments, as Selly does this for you and also gives you an easy- to-use solution. Selly works as a trader, as it puts up your need in the market. Where there are a number of payment modes, Selly enables fast online customer register.
Charlie Lee, the founder of Litecoin can be counted as the fourth reason, which makes as confident about Litecoin. Behind every project there is one loyal person who takes it to the right path. So to say, Litecoin has Charlie, Ripple (XRP) has Brad Garlinghouse, Tron (TRX) has Justin Sun; and Ethererum has Vitalik Buterin.
When Litecoin faced a scam, Charlie has to sell all his Litecoin, to concentrate only on the Litecoin project. His dream is that Litecoin should solve all the large-scale needs of the world on the blockchain. And in this dream all of us will join him.
In the end, we can say that for Litecoin the present time is very thrilling. Upcoming hard fork will reward 10 Litecoin Cash against 1 litecoin each while upcoming Litepay will solve all our cryptocurrency sale issues. The Selly policy gives a centralized place for traders to make payments, making them free from all sort of code. Charlie Lee, as we all love him is also a reason for such a confidence about Litecoin. His vision is very clear and reasonable enough to make the payments on the blockchain simple.