Altcoins

Which Cryptocurrency To Choose Between Ethereum and Litecoin?

Ethereum (ETH) and Litecoin (LTC) are two of the top cryptocurrencies that have rivalled the number one crypto i.e Bitcoin (BTC).

Crypto investors have seen a good option in both Ethereum and Litecoin which has made them be listed among the top cryptos in the world. The volatility in the crypto market makes it possible to diversify by investing in other coins.

If you are choosing between ETH and LTC, then you have to see this article.

What Are Ethereum and Litecoin?

Ethereum is an open-minded blockchain platform that operates on the basis of numerous systematic algorithm calculations. Ether is the cryptocurrency that is created by the Ethereum blockchain platform.

Litecoin  is a cryptocurrency invented with the intention to solve the shortcomings of Bitcoin. It is to initiate an easy transaction between parties. It is also to remove the presence of ambiguities and enhance efficiencies and that too at a lower rate.

Ethereum And Litecoin
Ethereum and Litecoin

Ethereum Vs Litecoin- The Top Differences

Ethereum is quite a new platform. It was launched in 2015. Litecoin on the other hand was introduced in 2011, two years after Bitcoin made its debut.

Ethereum is a platform. Its application is run on Ether (platform-specific cryptographic token).  Meanwhile,  Litecoin is a cryptocurrency. It is built on blockchain technology.

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The best part of ETH is its smart contracts that assist the ether transactions to happen naturally. Litecoin however isn’t as smarter as smart contracts.

There is no limit to the supply of ether. In the case of Litecoin, there is a limit. The limit is 84 million tokens which means at a certain point in the future, there would be no Litecoin.

The average transaction for every transaction in Ether is n $0.85 which is higher than that of LTC. The average transaction for LTC is just $0.04 per transaction.

The block time for Ether is just 15 seconds. That means within a minute, you can confirm transactions. It is quite higher in LTC with the block time at 2 minutes 19 seconds.

Which To Choose Between Ethereum and Litecoin?

If you study the differences between Ethereum and Litecoin, you will notice that there are merits and demerits. This is to say that both are equally good for investment.

To mitigate the risk of losing all, it is better to try both coins. This will make your investment safer, reduce risks and increase your chances of getting a better return on investment.

Also Read: Is Bitcoin Mining Profitable?

If you need to buy and sell cryptocurrencies such as Bitcoin, Ethereum, USDT, and Litecoin, Prestmit is one of the best platforms for you.

Prestmit is one of the best peer-to-peer platforms where you can also buy and sell cryptocurrencies. If you need to buy and sell ETH or LTC in Nigeria or Ghana, Visit Prestmit, it’s the best platform for you.

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