Bitcoin is making great headways to the global economies and recently it crossed the total capitalization of over billion and moving ahead, particularly after it touched the benchmark $8.000 Even the U.S. government is mulling a plan to legitimize this; there are similar indications from the Indian government which is willing to bring Bitcoin trading into taxable services.
Litecoin, a decentralized virtual currency which means that there’s no single central point of authority or anything like that, has become a tough competitor to Bitcoin. However, some Bitcoin enthusiasts believe that litecoin has not yet made its impression and it is still the second fiddle to Bitcoin in several perspectives.
It is doubtless that litecoin is fast becoming popular among the traders or buyers who feel Bitcoin is quite expensive and they won’t be able to buy it. They are also worried about Bitcoin as they fear the fall may just ruin their investment and returns potential to a great extent.
There is also no difference when it comes to features between Bitcoin and litecoin, in fact, litecoin has several rich features, for instance, its circulation is four time higher than the one of Bitcoin. Also, there is a high level of anonymity which means that it’s very hard to trace transactions which is similar to Bitcoin.
Will Litecoin Be a Mega Hit?
To believe the experts who have been keeping their interests with virtual currencies, litecoin will definitely be a megahit. However, they are still skeptical about the time frame and do not commit for the time by which it will race ahead or even beat Bitcoin. Also, they believe that litecoin will gain popularity as Bitcoin becomes popular.
Litecoin or Bitcoin, the year 2019 will bring a lot of challenges. Digital currencies will be hit no doubt about that; however, to what extent the lobbying will be needed is not yet clear. Also, last year the Fed of the U.S. and another four agencies summoned Bitcoin companies and exchanges to put forward their agenda and policies and the nature of the digital currency.
The government is willing to lend its support and several of the statements coming from the Fed Chairman are indicative of the fact that the U.S. government is not averse to the idea that Bitcoin and other digital currencies may co-exist without endangering the prospects of the national currency.