Cryptocurrency is a promising type of investment. Let’s take a closer look at the reasons why investing in cryptocurrencies can be the right decision. We will also compare popular cryptocurrencies to see which one is most suitable for investment.
Potential of crypto investments
Cryptocurrency has become one of the most profitable objects for investing money. However, compared to precious metals, natural resources, or real estate, virtual coins involve more risks associated with price spikes – or their volatility.
The growth of investor confidence in cryptocurrencies is due to several factors:
- Digital currency is finding more and more applications, including in trade, which allows it to develop further.
- Technologies have moved beyond the borders of the economy, which ensures interest in them on the part of the state.
- New players from all over the world are entering the cryptocurrency market.
Most of the world’s leading experts are confident in the future growth of the cryptocurrency’s value. What can we say about the 100% success of long-term investments? But you can also increase your capital on short-term investments and trading. It is important to assess risks seriously, always follow market news and new information, and choose the right cryptocurrency.
Let’s look at the example of 2 popular cryptocurrencies, which factors are important to consider when evaluating cryptocurrencies.
What is the difference between Litecoin and Dogecoin?
The developers conceived and launched the Litecoin project as an analog of Bitcoin, which will complement it, and in the future, will become a full-fledged replacement. Dogecoin was created as a new cryptocurrency that is closer to people and will not be associated with bitcoin. But it has become a kind of analog of the Litecoin coin.
Litecoin is limited to 84 million. In addition, the block mining premium is halved every 840,000 blocks. At the same time, the number of DOGE coins was unlimited.
One DOGE block is generated within 1 minute, which is 250% faster than Litecoin. Full confirmation takes up to 6 minutes. For comparison, this process takes 15 minutes for Litecoin and 60 minutes for Bitcoin.
The cost per coin, capitalization, and place in the rating is much higher for Litecoin. The authority of the development team, the introduction of new technologies, and investors’ active involvement make LTC a much more significant choice.
However, Dogecoin has huge support from the Internet community, a more accessible mining process, does not imply a limit on coins, and also actively participates in charitable projects. This also allows us to talk about the sustainability and availability of the project.
If you want to trade coins, you need to constantly monitor the news and forecasts to sell and buy silver coins on time.
How to exchange cryptocurrency
We will not draw any conclusions when comparing litecoin vs dogecoin. We want to say that both coins are promising and worthy of attention. When you want to exchange coins – LTC, DOGE, or any other-go to the platform Godex.io. Detailed instructions for the exchange:
- On Godex.io, find the “you send ” field, select DOGE (for example) and specify the number of coins to exchange.
- Then select LTC in the “you receive ” field. And click the “exchange” button.
- Enter your LTC address in the “destination” line. Click the “exchange” button.
- Send the required DOGE amount to the received Deposit address.
- Godex.io immediately after receiving them, DOGE will exchange them for LTC.
- Within a few seconds, Godex.io scans the data and finds the best course. Your wallet will receive the specified amount of LTC in a few minutes.
We recommend using Godex.io for those who value the security, speed, and anonymity of transfers.