FACT #1 – FOUR TIMES FASTER TRANSACTION TIMES
There are 4 times as many Litecoins as there are Bitcoins, which equates to 84 million Litecoins to ever be in circulation. More Litecoins means smaller blocks of which there are to be mine. These smaller blocks require fewer confirmations, and thus, are sent from one person to another with faster transaction times than Bitcoin.
FACT #2 LITECOINS ARE MORE SECURE!
Ok, well not secure in the meaning that they can’t be stolen from you, that is still a very real possibility, but more secure in the fact that there is a much higher difficulty in mining all the Litecoins out there. Let me explain. Since there are 4 times as many Litecoins as there are Bitcoin, the probability of a miner actually mining a Litecoin on luck is significantly lower than a miner mining Bitcoin. Four times less likely. The math is really complicated, but it you want to read the math further detail can be found here.
FACT #3 – MT. GOX & LITECOIN
As of the day of this writing, currently in the U.S. it is quite difficult to purchase and trade Litecoins due to many factors. Some of these factors include high transaction costs, overseas merchants, and lots of scammers. But soon, Mt. Gox, a service of Tibanne Co. Ltd, will begin to add Litecoin to its portfolio next to Bitcoin. A question was asked by a user, “When will you be adding Litecoin (LTC) to Mt. Gox?” with Mt. Gox replying, ““Soon. We were planning on doing so two weeks ago, but events derailed that plan. Right now we are focused on overall stability of the exchange, and will launch LTC when we are ready. Otherwise we could be further complicating things.”
FACT #4 – LITECOIN IS THE STRONGEST ALTERNATIVE VERSUS BITCOIN
Litecoin’s current valuation is around $638 million USD as of January 2nd, 2014, with each coin going for around $26 a pop. (I know, cheap right???) There are also around 24 million LTCs in circulation as well. Compared to Bitcoin’s market cap of 9.8 billion USD, with an average price of $800 USD per coin, and about 12 million BTC in circulation. What does this mean you ask? Well, since Bitcoins are supposed to be four times LESS in quantity, and with the current rate of 2 ltc for every 1 btc, this means that there are far more Bitcoins than there are Litecoins. So this means there is still plenty of time to jump onto the Litecoin train at the moment. Lots of time to get rich.
FACT #5 – WHERE TO BUY LITECOINS
Currently in the US there aren’t too many exchange to buy Litecoins from that are trustworthy. But, off into the wilderness that is the Internet, I bought about $10,000 worth in Litecoins at the time of this writing from the Litecoin exchange as Litetree. These guys seem to be on the better side of the Litecoin trading scene. If you aren’t in the US, and in another country, lets say China, then your best bet would be OKCoin. OKCoin has defied the Chinese Government and decided to trade Litecoins anyways. Good Luck with your decision!