All you need to know about Walmart investing in Litecoin and what came out of it
A few days ago, a rumour spread that Walmart has entered into an agreement with Litecoin to start accepting its tokens as a mode of payment. This rumour erupted the Litecoin counter and saw an immediate pump in the price of Litecoin from $180 to $228. The whole cryptocurrency market was left to wonder what was going on here minutes after which this was all put to rest when Walmart and Litecoin both came out with an official statement claiming that no such partnership or agreement had been discussed between the two parties and the new agency that started these rumours in the first place took their article down within a few minutes. This is really upsetting to see in the cryptocurrency market. This article will help you understand why Litecoin is one of the most undervalued cryptocurrencies and how should investors get started with questions like “How to buy Litecoin in Canada”.
What makes Litecoin so valuable? If not Walmart, does Litecoin have the potential to scale further in this market?
Litecoin (LTC) is a cryptocurrency that was designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology.
The cryptocurrency was created based on the Bitcoin (BTC) protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.
Behind Bitcoin, Litecoin is the second most popular pure cryptocurrency. This success can be largely attributed to its simplicity and clear utility benefits.
As of January 2021, Litecoin is one of the most widely accepted cryptocurrencies, and more than 2,000 merchants and stores now accept LTC across the globe.
Its main benefit comes from its speed and cost-effectiveness. Litecoin transactions are typically confirmed in just minutes, and transaction fees are nearly negligible. This makes it an attractive alternative to Bitcoin in developing countries, where transaction fees may be the deciding factor on which cryptocurrency to support.
So yes, Litecoin is extremely valuable due to its ease of use and its transaction speeds.
Any Investor who understands the cryptocurrency market knows how important it is to find the next big cryptocurrency and personally given how Litecoin has been underperforming in this market, I think we may soon witness a mammoth of a bull run in this counter. You can definitely shell out some of your savings and invest it in this project and forget about it for a few years to see your money multiply multifolds.
Any new investor looking to start out in the cryptocurrency market should make sure they make a strong and diversified portfolio. Coins like Bitcoin, Ethereum, Litecoin should be a part of every portfolio and to get started with questions like “How to buy Ethereum in Canada” or Bitcoin in Canada, all you need to do is visit the Netcoins website and follow the instructions there.