What the difference between LTC and BTC. (Without price)

What the difference between LTC and BTC. (Without price)

Which one I should prefer buying.

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The biggest is that Litecoin has really low fees, in comparision to Bitcoin, where it might cost $10 at times, the average litecoin transaction is less than $0.01. Litecoin transactions are a lot faster, and confirm in 2.5 mins compared to Bitcoin’s 10 mins. And finally for me the third biggest difference is that Litecoin supports MWEB, which is a new feature which makes litecoin more like cash by improving fungability and privacy.

There’s a lot more differences, but these are the main ones IMO.

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BTC is the largest decentralized network in the world, LTC not so much. BTC is the best long term store of value that is untouchable by anybody but YOU. LTC is a fantastic payment method but not a store of value.

Although there are many technical differences between them like hashing technologies, but i won’t be going into them as it will be too complicated. Litecoin was originally created as a lite form of Bitcoin in 2011 and it implemented some of the good features of Bitcoin. Also Bitcoin is more scarce than litecoin making it more valuable option for investing. So, if you have limited money, then either you can buy a part of bitcoin or some of the litecoins. But according to me, Bitcoin is a more sensible option as its the original cryptocurrency and it is more trustworthy.

It’s a cliche but it’s still true: Bitcoin is like gold, Litecoin like silver.

So why would you buy gold and why would you buy silver?

You buy gold because it can’t be beaten as a store of value. It is risk-free money. It is a hedge against devaluing fiat money. You can use it for transactions, but would you? There is a strong hoarding tendency with gold. It is gold’s ultimate use-case.

So that’s where silver comes in. Silver has stood the test of time too, because it’s scarce like gold but people don’t mind using silver to buy basic goods, like food and clothing. The Spanish ‘pieces of eight’ made from silver were arguably the most successful money since the Romans. Silver holds its value too, but not so much that people hoard it.

When you go to buy some beer with BTC, imagine taking in a bar of gold and shaving off a sliver. You can, but it makes much more sense to use a silver coin, and that would be Litecoin.

So, you should buy both, for different purposes.