Buying Litecoin with our advice

Litecoin in EUR / USD price: advice and prediction

The cryptocurrency market has never generated more enthusiasm than since the COVID crisis. The price of alternative cryptocurrencies has also experienced an unprecedented boom. We turn our attention to the Litecoin price, which is a direct derivative of the Bitcoin token with a fairly identical operation. Focus on the Litecoin coin (LTC): creation history, evolution of the LTC price, envisaged prospects and opinion on its potential.

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Litecoin price and value

Created in 2011, following a hard fork on the Bitcoin blockchain (source code modification), Litecoin has experienced several evolutions and periods of volatility that we will synthesize year after year to realise the volatility of the value of Litecoin ( LTC) and its potential which is confirmed month after month.

Litecoin (LTC) price in euros in 2014

 

After a good year (2013) which led the Litecoin unit token to reach a first level at 50 USD (around 41 euros), 2014 saw the bankruptcy of Mtgox, which was the benchmark platform for trading these virtual currencies. They were all impacted, which led to a gradual and overall drop in the price of Litecoin. Towards the end of the year, the LTC USD price consolidates at around $4, which is a price of 3.28 euros.

Litecoin (LTC) price in euro in 2015

 

No major development during the year 2015 despite several innovative developments on the blockchain. A consolidation of the token price takes place at the price of the previous year, i.e a unit price of around 3 euros.

Litecoin (LTC) price in 2016

 

Similar progress in 2016. This is the second year in a row that the Litecoin price in euros has moved very little. A virtual absence of volatility leads to begin to believe that Litecoin is the second driving force in the virtual currency market. Some expert opinions express their consideration by baptising the Litecoin token (LTC) as Bitcoin money. It should be noted that the price gravitates around 3 euro per token, and that economic factors must block its rise.

 

Litecoin (LTC) EUR price in 2017

 

The year 2017 epitomises the revival and massive push for cryptocurrencies as a solid choice for investors around the world. After a first climb to the historic peak of 50 USD (41 euros), nothing can stop the explosion in the price of Litecoin (LTC). The year 2017 ends with a new cryptocurrency record: a price of 371 dollars or 305 euro per Litecoin token. Each post and each comment concerning the Litecoin cyptomonnaie generates new transactions (in euros), new safeguards are to be reported. This is the start of an era where nothing seems to be able to block the growth of Litecoin.

 

Litecoin (LTC) price in 2018

 

In 2018, Litecoin undertook major internal works with its first hard fork which gave birth to Litecoin Cash. It is a direct derivative of the original source code, itself derived from the source code of Bitcoin (BTC). All of this indicates that Charlie Lee's digital work is gaining momentum. Litecoin in USD is around $ 100 per unit.

 

 

Litecoin (LTC) price in 2019

 

High volatility drives the cryptocurrency over the year 2019. Little by little, until June, the LTC price in euros climbs to a value of 115 to fall back to the level of early 2019, i.e. 40 USD (around 33 euros).

 

 

Litecoin (LTC) price in euros in 2020

 

Following a number of functional changes and an effective marketing campaign, which propelled Litecoin crypto to the forefront, with an almost instant presence on all exchange platforms, the value of the Litecoin token increased. consolidates around the price of 35 euro for the first part of the year 2020, then takes advantage of the crypto explosion at the end of the year and gains in value.

 

 

Litecoin (LTC) price in 2021

 

2021 promises to be an excellent year for Litecoin (LTC), like other cryptocurrencies, such as Bitcoin (BTC) or Ethereum (ETH). In June, we can see over one year, an increase of 240% of the unit price, with a token which gravitates around 130 euros. Certain posts and comments on specialised crypto sites create a bundle of optimistic forecasts on its evolution in the months or even years to come. The coins derived from the Bitcoin blockchain still have a lot to demonstrate.

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Litecoin Price and Value Prediction (LTC) 

 

Let's take a look at the game of forecasting the price of Litecoin in the short and long term.

 

Short-term Litecoin (LTC) price prediction

In view of the general mood on the crypto exchange, there is no reason to consider, in our opinion, a drastic downward forecast in the value of the Litecoin (LTC) coin. All virtual currencies, including Bitcoin (BTC) whose source code is directly inspired or Ethereum (ETH), which has a different structure, are in a historic uptrend, which suggests that new records could be reached. The Litecoin price chart clearly shows that support is in place and that the uptrend is not going to run out of steam by the end of the year. Can we even hope to reach again the historic high of 2017 at 305 euros.

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Long-term Litecoin (LTC) price prediction

In the longer term, we have identified several optimistic opinions about the natural progression of the price of the Litecoin token (LTC). For the experts of Trading Beats and DigitalCoinPrice, it is reasonable to count on a forecast where Litecoin will continue to appreciate in value because it embodies a solid, historic project and fully anchored in the new policy of DeFi (Decentralised Finance). 

It seems rather relevant to us to follow the course of Litecoin live at the moment in order to choose a favourable moment (drop in price) to buy coins to store them over a period between 3 and 5 years to collect capital gains that should be important. Its market capitalisation reached 8.7 billion euros for 67 million Litecoin tokens (LTC) in circulation. We are talking about a crypto currency with a background and sufficient hindsight to assess its potential at 5 years, despite the risk that its volatility can represent.

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Definition: what is “Litecoin” crypto?

 

Now let's focus our attention on the history of the Litecoin cryptocurrency, its purpose and how it works.

 

Creation history

The history of Litecoin is closely linked to that of Charlie Lee. This former Google employee is fascinated by the incredible potential of Bitcoin (BTC token). He therefore decided to develop his own blockchain in 2011 from the source code of his predecessor. It is good to specify that Charlie Lee also worked on the crypto platform Coinbase, well known to traders.

Its initial objective was to offer a BTC replica that would correct bugs and speed concerns during transactions between users (individuals or professionals). Following his association with Mike Hearn, the Fairbix project was born. Due to several technical problems, Fairbix is ​​canceled.

After 18 additional months of development, Litecoin was officially launched in 2013 and became a decentralised payment method recognised and accessible by a large number of investors. An extension is even added to Google to be able to convert any currency tolerated by the browser into Litecoin (LTC).

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What is it for?

The blockchain is above all and above all a payment network between users ( or user network). In other words, Litecoin tokens (LTC) represent digital money that can be used in a decentralised way (understand without needing an intermediary like a bank) in different situations.

Its operation is identical to other cryptos. When a transaction is issued, the information is relayed by pools that allow validation of the transfer for the beneficiary via a block reward. The pool is in fact a backup area where all data is stored in order to allow miners to validate the authenticity of the transaction.

The Litecoin blockchain has chosen to rely on the Scrypt algorithm which opens up great prospects for the use of the mining network to generate even more coins with each use. This is one of the elements of differentiation compared to the massive presence of ASICs which avoid this network and have strongly proven themselves in their capacity to process a large volume of transactions.

Here are some possible uses with Litecoin tokens:

  • Online shopping;

  • Fast and secure fund transfers;

  • Conversion to conventional currencies.
     

Litecoin blockchain: how does it work?

 

First, let's do a little reminder about the function of a blockchain. If we had to synthesize, a blockchain is a technological means that makes it possible to offer backups in time of all the data transmitted by each user when he emits a transaction.

About Litecoin, the protocol is a replica of the one used with Bitcoin (BTC): a chain of blocks that connects each user. Via this decentralised system, it is the users who can confirm the authenticity of a transfer, without having to report to a third authority.

The presence of the blockchain ensures full backups of every coin swap made. This avoids an unfortunate loss of its Litecoin (LTC) coins since all items are traced and stored in automatic backups. It is these traces that allow storage in a litecoin wallet.

How to get Litecoin?

 

Now let's make a list of each legal way to get Litecoin.

 

Getting Litecoin via brokers

 

There are 2 main methods for acquiring Litecoin coins. Since Litecoin cryptocurrency is widespread on the market, such as Bitcoin (BTC) or Ethereum (ETH), it is very easy to exchange cash (in euros or dollars for example) for tokens either:

  • On an exchange platform like Coinbase, Binance or Kraken and make backups in a storage wallet;

  • With a CFD broker in order to make short-term trading on each variation of the price. Let us quote for example eToro, Libertex or Capital.com which are references in this segment. This type of platform offers a wide range of financial assets: forex, stocks, indices (ETFs), commodities and cryptocurrencies.
     

Each acquisition method offers a 100% digital registration procedure, an intuitive platform accessible to beginner investors (in most cases), competitive fees and a fairly wide choice of cryptocurrencies.

Some differentiating elements should be noted:

  • A specialised crypto platform offers full access to the Digital Currency Exchange with the possibility of buying, selling and exclusively trading popular or more emerging cryptos / a storage wallet (digital backups) to secure and use them with confidence. digital currencies in its possession / the real-time prices of the quotation of each available coin. This type of trading is identical to that of an OCT (over-the-counter) market where a user can sell (or buy) an asset easily with another user who buys (or sells) the product concerned;

  • A CFD broker offers a broader trading experience with several families of financial assets: forex, stocks, commodities, ETFs (indices) and cryptos / competitive fees / an ability to speculate both upwards and downwards on each variation. price / the use of leverage to increase the volume of investment without increasing its capital.
     

The opinions are based on a general consensus: 

  • CFD forex brokers, like eToro, for short-term trading on the Litecoin asset;

  • Specialised platforms like Binance to establish storage in a digital wallet in anticipation of medium or long-term capital gain.

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Mining Litecoin

 

Nothing special to report about Litecoin token mining. The procedure is similar to that of BTC. It is thanks to the action of the computers used by the miners that the extraction and breaking of blocks is possible. The more powerful the user has at his disposal, the more efficient his mining operation is thanks to a gain in speed. It is important to display the electricity consumption generated by this system on a regular basis in order to estimate the possible total additional cost and the net gains made after valuation.

Mining is a process that requires patience and daily involvement if you want to see your Litecoin coin pot grow. It is good to remember that some rewards are to be recovered when certain conditions are met.

Litecoin Faucet

 

Like Bitcoin (BTC) or Ethereum (ETH), it is possible to obtain coins for free. via a Faucet Litecoin site. In summary, this is a tap that regularly distributes a minimum and maximum amount of Litecoin after completing an authentication act (captcha type).

Depending on the site chosen, it is possible to find additional sources in a comment or post published on the official site or a social network (official social network). Some sites also use advertising sponsors who pay a corner to all registered people who view their ads to the end.

A Litecoin Faucet has an integrated wallet where the rewards / endowments obtained are accumulated. From this wallet, it is possible to transfer your acquisitions to any platform or backup area. A minimum withdrawal is often required up to one unit of the cryptocurrency. It is a means of payment that has proven itself over the years. First with Bitcoin then with altcoins.

Litecoin wallet: how to find it?

To hope to make some profits thanks to cryptocurrencies owned directly, it is essential to have a digital wallet. It is a secure space where the coins are stored while waiting for another use (sale / exchange) where more or less effective protocols are applied to block hacking attempts. This type of portfolio can be compared to the one used by an OCT broker in the stock market. The platform incorporates advanced encryption in order to block any attempt of external intrusion in order to avoid the theft of acquired shares or ETFs.

There are obviously several types of Litecoin wallet with various characteristics according to its means and needs.

Let's start with the Litecoin Hot Wallet which is the online version of the digital storage wallet. It is a very practical offer, often free, which makes it possible to easily secure its cryptographic possessions. For example, almost every specialised platform integrates such a product into its commercial offer. Like an OCT broker who secures the securities held. We still recommend that you use a stand-alone wallet. The main drawback of the Hot Wallet is that it is highly exposed to hacking since it depends directly on an Internet connection because the service is provided by a 100% online network. For example: Litevault or Litebit.

The other possibility to consider is to install software on your computer that acts as a digital safe. We call it the Litecoin Desktop Wallet. It brings together all the functionality of the wallet via an online browser, except that all operations take place from his computer. In many respects, we can assume that the risk of hacking is reduced to an insignificant minimum since the device in use is connected to the Internet. These include LitecoinCore and Loafwallet.

In our opinion, the best option to consider is physical storage wallets. It is a question of a device (resembling a USB key or an external hard drive) which offers a backup and storage area for all the information relating to its cryptocurrency acquisitions. Their isolation from the outside world makes it possible to block any intrusion, signal any attempt and display high-performance results. Their main flaw is their purchase price, which is sobering. The most popular physical wallet is surely Ledger Nano X, followed by Trezor T.

Notice: should you invest in Litecoin?

Is it good to consider making buy transactions in Litecoin? Aren't we already too far from the start of the adventure to invest our money? And in what volume of rooms? Our post and associated commentary around the pros and cons of investing in Litecoin coins.

ADVANTAGES

Opportunity

It is legitimate to wonder whether the time for the best price to buy has not already passed. However, a simple rule announces that it is never too late to invest in the stock market. Moreover, each new forecast is a clear indication that Litecoin will continue to rise. It is therefore better to buy now to take advantage of the next upward variation more quickly.

From the start, the Litecoin project has aimed to offer a secure, decentralised and fast payment method. For these 3 reasons, it has its place in the definition of DeFi (Decentralised Finance). At a minimum, it simplifies exchanges between users. To the maximum, it makes possible transactions, throughout the whole world, at a lower cost, which do not depend on the goodwill of an interested intermediary. Each user collects in total at all levels since their level of involvement is a guarantee that the total elements of the system work, grow, pay and offer integrated backups of financial history.

Litecoin is part of the top ranking of crypto, which allows it to be accessible very easily. Live or in the form of CFDs (on forex, stock, etc.), virtual currency trading is easy for everyone.

Its price has not yet skyrocketed, despite its historic presence in the market. It is an excellent compromise for a guarantee of stability (despite each daily variation), while being available for small budgets.

67% of retail investor accounts lose money when trading CFDs with this provider. You have to ask yourself if you can afford to take the high risk of losing your money.

DISADVANTAGES

Risks
 

Litecoin coins are not free from the problems inherent in trading volatile financial assets.

Large price fluctuations are investors' worst enemies. With an ill-established investment strategy or a lack of portfolio diversification, exposure to the risk of losses is significant. The graphical history of the crypto demonstrates the reality of the market very well. Forecasting and analysis seem to signal that conditions are good with a long-term view. In scalping, a measured use of leverage is strongly recommended to avoid bankruptcy.

DeFi projects are multiplying at breakneck speed. The lack of ambition (not planned for the development of decentralised applications) of Litecoin could represent a brake on its development and its rising valuation. All the derivatives of the Ether blockchain (ETH) are all competitors that also deserve to gain popularity and listing. This observation could in itself block the rise in the price of parts in favour of another more pragmatic and diversified asset.

FINAL CONCLUSION

Even though it is complex to make a solid forecast and display unwavering confidence, it must be recognised that 2021 seems to be an excellent year to invest as much as possible in cryptocurrencies, including Litecoin. Several elements line up correctly to promise nice increases with little variation.

However, there are certain factors that interfere with the correct reader of the information. For example, the health crisis linked to the coronavirus is blowing a wind of uncertainty on the sustainability of crypto concepts. We therefore recommend investing only a sum of money that is available and useless for daily life; to choose assets that we understand; to diversify its portfolio as much as possible.