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Swap Bitcoin (BTC) to Litecoin (LTC) instantly

When Bitcoin first emerged, many thought it would be short-lived. However, there are now numerous cryptocurrency options to choose from in the market. Bitcoin is just one of them. One of the popular startup cryptocurrency alternatives is litecoin. So should you buy Litecoin?
Despite BTC's dominance, there are many alternative cryptocurrencies like litecoin are receiving high popularity for different reasons. For example, Litecoin is more affordable than bitcoin. That means it's easier to buy.
In addition, in response to the problems found in BTC, they have developed many new alternatives that do not have these problems themselves. With this information alone, you might jump at the chance to buy litecoin, but not yet. First, read on to learn more about cryptocurrency to make sure you want to give it a try.

LTC Currency Summary

Before looking into whether you should buy litecoin, let's find out what it is. With its initial launch in 2011, two years after the emergence of BTC, the cryptocurrency was one of the first to enter the market after Bitcoin. Since then, it has grown in popularity and is now available on every cryptocurrency exchange. Similar to almost all other currencies of this type, LTC is used to continue to ensure that blockchain technology is decentralized.

A Brief History of Litecoin

As we mentioned, Litecoin came into being in October 2011, to be precise. When did it start? Charlie Lee is a former employee of Google and a follower of Bitcoin. He wished to establish a similar network aimed at quick payments. The white paper for the new cryptocurrency has been published.
Basically, Lee thought BTC was valuable. However, he thinks it would be better if there were improvements in all aspects. His improvements centered around transaction time (he wanted to reduce transaction time), fees and mitigation.
After two years on the market, Litecoin has achieved a market capitalization of $1 billion. Today, it is still one of the possible options.

How the Currency Works Litecoin Compared to Bitcoin

Because the currency is based on better BTC. It looks very similar to its predecessor. However, there were a few areas of reform that Lee thought were necessary. Understanding these differences can help you decide whether to buy Litecoin.

Here are the three main differences

1.  Transaction rate
One of the reasons behind Litecoin's popularity is its increased transaction speed (compared to BTC). On average, a transaction on the bitcoin network takes about 9 minutes for miners to verify and enter into the blockchain. But on the litecoin network, it takes only 2.5 minutes to complete the same task.

2.  Mining industry
Actually, the two cryptos' mining algorithms are different in this case Cryptos. Bitcoin uses SHA-256, and Litecoin uses Scrypt. BTC is more difficult to mine because the former is more complex than the latter. In practice, this has led many miners to resort to more sophisticated methods of mining BTC. This makes BTC mining inaccessible to individuals, who must now join a mining pool if they hope to mine the crypto successfully.
This does not apply to Litecoin and Scrypt. In fact, mining LTC is still very accessible to everyday miners. So if you're a miner, it's easier to get your hands on it.

3. Total coins
As we all know, the maximum amount of BTC possible is 21 million. LTC on the other hand, is up to 84 million. This seems to be an advantage for the latter, but mostly psychological. Because there are more coins to mine. There seems to be more to go around, so more people can buy and use it. However, as more are created, it actually depreciates in value. It is based on the basic supply and demand principle.
On top of all this, a low price doesn't technically mean much. You have no need to buy all of Bitcoin. Therefore, you can use the amount you would spend to buy a litecoin to buy a fraction of BTC.

Is buying Litecoin a good idea?
Now that you know not fewer differences between Bitcoin and LTCs, you probably already have a bit of an understanding of which one you prefer. We can invest in litecoin, but the final decision is yours.
LTC is one of the biggest cryptos in terms of market cap. Based on this alone, many believe that this cryptocurrency is well worth investing in this year. Well-known investors support the cryptocurrency, as it should be considered a strong player in the crypto market and its price has the potential to grow further in the long term.
As it was written (January 2021), Litecoin was trading at $141.11 at a price of $24 with a trading volume of 14,689,580,045 hours. Now (2022), the 24-hour trading volume is $732,741,640. This currency, like the others, fell during Bitcoin's precipitous drop in April and May 2022. Yes, it can't compare to the ever-strengthening BTC, but when we look at the price change since last year, it shows the potential of the currency.
In December 2020, the currency traded at $84.57 with a 24-hour trading volume of $3,413,410,775. At that time, the currency was up more than 70% since Black Thursday of the same year. Note that this increase occurred in the midst of a global pandemic. These statistics are very promising.

LTC price prediction

A key consideration when choosing to buy Litecoin is the price forecast for the next year or more. This will help you decide whether cryptocurrency is a good investment. It will give you good advice. Will it increase the monetary value of your loss? Gives a profit or decrease in value.
Experts are predicting the growth trend in this cryptocurrency with the expectation that the currency will reach its peak after several months, when bitcoin will be recovered.
Here are some estimates
• LongForecast, which uses math and statistics to predict performance, believes the currency will peak between $140 and $90 in 2024 (Please always remember that no one can exactly predict, all risks are on you and Boomchange has no responsibility for your decision).
• The price is expected to average around $165.17. Their predictions remain positive until 2024 (when their predictions stop). By the end of 2025, the price is expected to average $307.65 (Please always remember that no one can exactly predict, all risks are on you and Boomchange has no responsibility for your decision).
• Digital coin prices using historical analysis; The currency is expected to peak around $135 by the end of 2023 and increase in 2024.
Although none of them are as strong as BTC.  The outlook remains generally positive, indicating that it might be a good idea to buy Litecoin.

Pros and cons of buying Litecoin

To make it easier to decide if you want to buy litecoin, there are some advantages and disadvantages of investing in this cryptocurrency.
The Pros
There are many advantages that you can take account of buying litecoin. Currency is easy to trade, because it has a strong developer team behind it. It is reliable and has a more efficient mining algorithm, making it easier to mine. It has relatively low transaction fees.
The cons are less than the pros, but the negatives still exist. Some failings of LTC are that its uniqueness is declining. It is not as reliable as other cryptocurrencies. It's quite popular on the dark web (which somewhat tarnishes its reputation).

Final thoughts
Yes, It is impossible to give a solid answer to whether you should buy litecoin. Based on the pros and cons of choosing to buy Litecoin, you should have a better idea whether you want to invest or not.
It should be noted that predictions can be easily changed and crypto can go up significantly in price as it is still in its development years. You should always do thorough research before buying Litecoin or any other cryptocurrency.

How to exchange Bitcoin to Litecoin

Here is an exchanging method of btc to ltc.
LTC is presented in lots of crypto exchanges. The most well-known way of having this you need to just buy Ltc with doing Ltc to Btc or Btc to Ltc swapping deals. In this we (Boomchange) will help you. About us, you can read in our website.
In our webpage you have an opportunity to swap Bitcoin for Litecoin as soon as possible. For Boomchange exchanges there is no mandatory condition of registration and no commissions with high rates.
Our transactions have a strong security system. If you want to swap 1 btc to ltc, you should choose the right pairs to do this convertation, in this very case, Bitcoin by Litecoin.
Now you reach Btc vs Ltc transaction or btc to ltc conversion finishing step. Please note that 10 btc to ltc or 1000 ltc to btc exchanging deals have different rates at different period of time. So the conversion rates are not static and for every new deal you should attentively read and know all the percentages to know at that very time how many Ltcs you'll receive for one Bitcoin by using btc to ltc calculator in our website.

Thanks for chosing Boomchange as a Ltc to Btc exchanger.

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