Do you think LTC is good for HODLing or just trading? Give your reasons.
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Both. However, trading has been fair; devastation can occur.
Trading is stressful, and you can quickly lose out on gains.
Well, until it doesn’t, it skyrockets while you are still waiting for a dip, and you lose your gains.
Also, coins bought and traded in less than twelve months are taxed as income. Holding for over 12 months and tax is around fifteen percent while being less stressful and just as a lucrative approach for me. I buy regularly, buy market-wide dips, and hold. It’s worked quite very well for me.
When I look at the fiat value, I get happy or stressed out. I try to focus on coin count goals being extended, but it’s not easy; I do look at fiat value with market-wide dips and pick up extra.
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Similar to Bitcoin, Litecoin is money/silver with an integrated world wide payment network. Which neither gold, silver nor fiat money has.
Litecoin is traded on nearly every exchange world wide and constantly has top 3 to top 5 volume / liquidity.
Litecoin is also offered by on ramps such as PayPal, Revolut, Grayscale Trust and many exchanges with fiat on ramp.
Whenever Bitcoin transfers clog up, people switch to Litecoin. You would’t leave your house with just one credit card. You take a Mastercard and a Visa.
Litecoin moves similar to Bitcoin but its halving is one year before Bitcoin leading to a half time run-up giving it an extra push.
Compared to Bitcoin and XRP, supply vs traded volume, Litecoin is currently undervalued. Its fair value is above usd 500.
The problem is that many large investors, new investors like funds, corporations never ever try any of these coins themselves. They just tell their CFO to buy thru trading desks. So they never experience the technology.
Like Novogratz or Raoul Pal have no clue, never tried it. Otherwise they would realize that both Bitcoin and Ethereum quickly clog up, transfers taking hours or days and transaction fees skyrocketing. When Litecoin still settles fine.
With time investors will get the feedback from their finance department or tech guys and adjust their investments.
Buy every week and HODL.
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Well said. Thank you.
In my opinion off-course it is useful for long term investment. You can invest small amounts on a regular basis. Litecoin is one of the most established cryptocurrencies. This makes Litecoin investing less of a risk compared to some of the newer coins.
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