5 Reasons to Get Hold of Litecoin before it’s Too Late

With the crypto market having so many choices that an investor can choose from, some coins have stood out over the years, and despite the crypto market evolving, they have managed to hold solid ground and still attract a wide user base.

Litecoin is one of these coins. As one of the oldest ones in the market, it has managed to withstand the test of time and become an ideal alternative for investors that want to get a piece of the token. However, with the influx of new tokens in the market that have made major gains in such a short time, investors are left wondering whether older cryptocurrencies such as Litecoin still make for good investments in the market.

For example, meme coins have made so much hype across the market because of making massive gains in such a short while, making new investors rally to stock up on such coins. However, an in-depth look at the market will show that while retail investors rush to buy coins that make short-term gains, institutional and professional investors are going for older cryptocurrencies such as Litecoin.

Therefore, many wonder why this is the case and if Litecoin can be a good investment in the long term. Below are the top five reasons you need to hold Litecoin in your portfolio before it is too late.

1) Litecoin has a use case as a payment method

One of the areas where cryptocurrencies are battling to find a niche is in the payments sector. Cryptocurrencies seek to solve the problems of the traditional payment sector, and they are slowly becoming good alternatives for this.

Companies and institutions that have announced they will start accepting crypto as a payments method have chosen to go with older cryptocurrencies, and Litecoin is among the coins added to this list. The coin is used as a means of payment across different platforms globally.

Having a use case is one of the many factors that investors look for before investing in any token. This use case for Litecoin makes it a great investment tool because it cannot be used for simply speculation but also for other reasons such as transacting with merchants and businesses globally.

Litecoin as a payment method is a good thing because more businesses are starting to shift towards crypto payments. As such, the demand for LTC tokens will be high in the coming months and years, which will affect the prices of this coin in the long term, making it a good investment option.

2) Litecoin's network has superb functionality

The other reason to invest in Litecoin before it is too late is its underlying network's functionality. The Litecoin network is among the best in the market because it seeks to solve the problems present in the traditional payments sector.

As such, this network offers fast speeds that allow transactions to be settled almost instantly if an individual is using LTC tokens. This brings ease of use and allows the token to continue gaining adoption in the crypto community and globally.

Due to the capabilities of the Litecoin network, it has been referred to as the digital silver by investors. The token has a presence in over 3000 businesses globally, which is a major gain, considering that Bitcoin is accepted by 7300 businesses globally.

Besides having a use case, the other reason that could drive LTC prices is if the underlying network actually becomes an alternative that financial institutions are looking for to integrate digital payments in their financial offering. There is potential for the network to gain partnerships with top financial firms because of the time it has stayed in the market and its superb functionality. These partnerships will also drive value for the token.

3) It is one of the oldest cryptocurrencies

The other reason you should invest in Litecoin before it is too late is that it is one of the oldest cryptocurrencies in the market. This is a good thing because having stayed in the market for a long time, it has established trust and gained a strong footing.

Currently, the crypto market is home to thousands of cryptocurrencies and new ones are being launched every day. However, the largest percentage of these tokens are actually scams because they lack any use cases, and some investors have lost a lot of money by investing in such coins.

With Litecoin, an investor can be assured that the developers behind the project will not close it one day and leave because it has established trust with businesses and investors.

As the crypto market becomes more mature and continues to attract investors worldwide, we could see major gains in coins that have been in the market for a long because new investors will be looking to invest in well-established coins and those that offer gains to users. Moreover, with the regulations coming into this market, older coins have established themselves and have use cases with a higher chance of survival.

4) The network is working on upgrades and improvements

The crypto market is fast evolving, and it continues to attract a wide range of new users every day. The market is also evolving in terms of the potential of blockchain networks launched in the market. Therefore, for a network to survive in this space, it also needs to evolve by offering new features and upgrades.

The Litecoin network is constantly working on new features that will enable it to battle this competition and be among the leading networks in the market. Its developers are looking for ways to lower the transaction costs and increase the transaction speeds to keep with the changes happening across the broader market.

In recent months, one of the most significant upgrades to this network is the development of “OmniLite,” a decentralized token platform that the network wants to create. OmniLite is a layered protocol built on Litecoin's blockchain seeking to improve security and lower the transaction fees on the network.

Through the OmniLite network, users will now be able to mint stablecoins based on the Litecoin network.

Moreover, the Litecoin network is also seeking to solve the issue of interoperability to allow the network to communicate with others in the sector. Through this, the network can see major gains, and the value of LTC tokens could skyrocket.

5) Litecoin's performance is impressive

The other reason why Litecoin also makes for a good investment in the market is its performance over the years. Many investors might want to stay away from Litecoin because its gains cannot compare to cryptocurrencies such as meme coins, with some making over a million gains in less than a year.

When Litecoin was launched almost seven years ago, it was at a value of $1.15. Over these years, the coin's gains come in at 19410%, and in May, it reached an all-time high of $410.  It reached these highs when the market was at its peak.

Currently, Litecoin is sitting at a value of $223, and over the past two weeks, it has gained by over 11% due to gains across the market. As the coin continues to gain adoption from institutional investors and as a mode of payment, it could hit all-time highs, and investors could see notable returns on their investments.

Conclusion

Litecoin, also known as digital silver, is one of the best tokens to buy in the crypto space. In such a short time, Litecoin has made notable gains in value and in terms of adoption. This token is accepted by over 3000 merchants globally, and this has played a major role in boosting prices. The network's adoption and strength are among the reasons it makes for a good long-term investment.