Litecoin vs. Ethereum vs. Bitcoin: What Are the Differences?

gold-bitcoin
gold-bitcoin

In 2021, around 106 million people in the world used cryptocurrencies. Bitcoin is the most popular crypto, with around 46 million Americans owning a share. That’s 22% of the adult population!

But there are other options out there, including Litecoin and Ethereum.

When it comes to Litecoin vs. Ethereum vs. Bitcoin, do you know the difference? If not, then read on to find out!

What Is Bitcoin?

Bitcoin is usually what people are referring to when they mention “cryptocurrency”. This is because it’s the first one ever invented!

Back in 2008, an anonymous programmer with the pseudonym Satoshi Nakamoto came up with Bitcoin, which uses blockchain technology. It wasn’t popular at first, but then it generated interest because you could make transactions anonymously. as a result, many Bitcoin transactions in the early 2010s were for dark web ones.

There’s a finite amount of Bitcoin; out of the 21 million, available, almost 19 million have already been mined.

What Is Litecoin?

Litecoin is a crypto-based on Bitcoin and came into existence in 2011. It’s the first “altcoin”, which are cryptos derived from Bitcoin’s code.

Litecoin is very similar to Bitcoin, but with some key differences. Not only does it process transactions 4 times quicker, but it also handles more transactions at a time.

Because Litecoin does transactions 4 times quicker than Bitcoin, there are 4 times as many coins. There are 84 million available, with around 70 million mined already.

What Is Ethereum?

Ethereum is also an altcoin. It was first created in 2013 and then released in 2015.

It’s actually more popular than Litecoin. In fact, while Bitcoin dominates the crypto charts, Ethereum comes in second!

Ethereum doesn’t have a finite number. Instead, there’s a cap of 18 million Ether every year.

Litecoin vs. Ethereum vs. Bitcoin

All 3 are cryptocurrencies, with Bitcoin being the “founding father”, so to speak. But both Litecoin and Ethereum have taken the best parts of Bitcoin and improved on the weaker points, making them altcoins.

While Bitcoin and Litecoin have a finite amount of coins, Ethereum doesn’t. It just has an annual cap.

Because Bitcoin is the most popular cryptocurrency, there’s more technology accommodating it. For instance, there are Bitcoin ATMs! Learn more about them to see if they’re good for you.

In the end, if you’re interested in investing in crypto, then you should consider buying at least 2, if not all 3. Diversifying your portfolio is always a good choice, as you don’t want to have all your eggs in one basket.

But if you only want to invest in one, we’d suggest Bitcoin. The values of other cryptos are based on Bitcoin, so it’s safest to go with this one.

Dabble in Some Cryptocurrency

Now you know the differences between Litecoin vs. Ethereum vs. Bitcoin. Yes, all 3 are cryptocurrencies and Bitcoin is the main one. But if you want to expand your portfolio, then investing in the other 2 (and more!) can be a wise choice.

For more Bitcoin tips, take a look at our other blog articles now.

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