And the Next Bitcoin Is...
I hope you were paying attention.
If you were, you probably recall an email you received a few weeks ago.
In that email, I presented research that showed a potential boom for Bitcoin.
At the time, Bitcoin's price was hovering in the low $2,000s. But things were happening in the Bitcoin community that positioned the digital currency to skyrocket.
And it did. Investors had to buckle their seatbelts as Bitcoin shot up by over $1,000 in a few weeks.
Those are champagne-popping gains.
Investors who took advantage of our digital currency report certainly could afford a few bottles.
Now, more big news is coming down the pike....
A panel of digital currency experts just disclosed information that could set the digital currency world aflame.
They think there could be a digital currency more lucrative than Bitcoin.
And that token is still lurking in the shadows...
Could There Be a Coin More Valuable Than Bitcoin?
Peter Smith, CEO of a major blockchain company, revealed to Fortune that the most valuable digital currency may not even be on the market yet.
In an interview conducted on July 25th, Smith commented:
It’s likely that another one or two dominant ones we haven’t seen yet in the market... Another really dominant coin could come out this year or next year.
This means, even though the world currently has Bitcoin fever, a potentially more lucrative currency is out there.
If you have been following the digital currency world since the start of this year, this news shouldn't be surprising. With digital currency, we have witnessed the birth of a whole new investing frontier. There are a handful of digital currencies that investors speculate could be more valuable than Bitcoin.
And many of those have made a killing. Since the start of this year alone, investors have raked in profits on altcoins. Just look at the gains below:
- Ethereum is up by 3,275%
- Dash is up by 1,627%
- Ripple is up by 2,400%
Today, I want to talk about another contender.
You see, out of the 700+ digital currencies on the market, only one is almost the same exact coin as Bitcoin.
In fact, it's so similar to Bitcoin that many analysts call it the "silver to Bitcoin's gold."
Since the start of 2016, this token is up by over 920%.
Litecoin: Bitcoin's Twin
The digital currency I want to talk about is called Litecoin. Litecoin was introduced to the market in 2013.
It became the third digital currency to be available on digital currency exchange Coinbase.
Litecoin, like Bitcoin and most other digital currencies, operates using a technology called blockchain.
This allows Litecoin to offer investors — and our global economy — the same benefits that made Bitcoin an economic powerhouse. Litecoin is autonomous, decentralized, secure, and finite. This allows it to act as a hedge against hyperinflation and political turbulence. Just like Bitcoin, more people may turn to Litecoin to protect their investments in times of uncertainty.
This makes Litecoin appealing to investors unsure of the market. If Bitcoin can operate as a new global currency, Litecoin can do the same.
Which might be one of the reasons it's doubled in price this year...
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Since January 2017, Litecoin is up by over 150%, moving from $20 to a high of $55.
If you had put $500 into Litecoin at the start of the year, you would be sitting on over $1,000.
And this growth has captured the attention of investors searching for the next Bitcoin.
The truth is Litecoin has better technology than Bitcoin.
And no, I don't blame you if you just laughed at that.
After all, how can something worth $50 be better than something worth $3,400?
The truth is that in the digital currency world, price is not always a reflection of the underlying technology. A number of analysts would argue that there are dozens of coins with better technology than Bitcoin. But Bitcoin is still king.
Part of this is because of Bitcoin's monstrous first-mover advantage.
This shouldn't dissuade investors from other digital currencies. As Smith mentioned, there are powerhouses lurking in the shadows.
And coins like Litecoin can make investors quite a profit.
Let's take a look at that technology...
The Litecoin Origin Story
Litecoin was introduced to the market in 2013.
In a way, it was introduced to remedy many of the problems presented by Bitcoin.
Litecoin’s development team recognized the issues slowing down Bitcoin: slow transaction speed, argumentative community, no mining incentive.
And they fixed them.
- Faster transaction speeds: It only takes Litecoin 2.5 seconds to complete a transaction that takes Bitcoin 10 minutes.
- A more cohesive community: Litecoin is not as tumultuous as Bitcoin.
- Easier to mine: At the moment, Litecoin is easier to mine and appealing to many people finding their own digital currency on the web.
These differences allowed Litecoin to thrive alongside Bitcoin and Ethereum this year.
Since 2013, the digital currency is up by 1,100%.
But does Litecoin stand a fighting chance in the long run? Or is it stuck forever as Bitcoin’s less-impressive sibling?
Though nothing is promised in the digital currency world, we have observed currencies with utility triumph time and time again.
And if you're looking at technology alone, Litecoin is certainly an excellent contender for good profits.
If you are interested in learning more about Litecoin, Ethereum, and other digital currencies, click here.
Take advantage of our digital currency report. You can claim yours here.
@AlexandraPerryC on Twitter
Alexandra Perry is a contributing analyst for Wealth Daily and Energy and Capital. She has multiple years of experience working with startup companies, primarily focusing on artificial intelligence, cybersecurity, alternative energy, and biotech. Her take on investing is simple: a new age of investor can make monumental returns by investing in emerging industries and foundational startup ventures.
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