By Our personal opinion is to never put too many eggs in any one basket. While both these coins are on the upper end of the cryptocurrency spectrum, no one knows which one will outperform the other, or if either will remain in the top tier of digital assets. we would suggest taking a much broader investment strategy that includes both, but also include other assets as a hedge to either of these projects not performing to your expectations.
Looking at both assets, they both have exceptional potential. Litecoin is the younger brother of Bitcoin and through atomic swaps would give you access to the Bitcoin network and currency. Additionally, as it is faster and cheaper to use than Bitcoin itself, it may one day become the peer-to-peer solution in comparison to Bitcoin becoming a reserve holder of value. This is already in process and will likely continue for the mid to long-term.
Ripple is a coin that is looking to be a bridge between the existing financial sector and the cryptocurrency markets. Ripple’s main goal is to compete against the current SWIFT system of international payment processing and, if successful, could tap into what is estimated to be a $20 trillion dollar market. The problem with ripple is there is no guarantee that it will be able to do this, or that the ripple coin would actually be used on the ripple network. That being said, if ripple was to capture even a 1 percent share of this market, it would increase in value 2000% minimum. That being said Ripple was recently classified as a currency and this could hurt the coin in the short term as investors tend to shy away from securities due to regulation around them.
we think both are great investments and have potential, however, like we mentioned, a much wider approach should be used. Both are also sitting around 20% in comparison of their ATH (All-Time Highs) and should be very profitable on a market rebound whenever that happens. So taking on an active trading strategy that allows the active use of your capital to use market volatility to trade and garner more Litecoin or Ripple, by buying the dips and selling the peaks in price movements, will likely see your investment grow much faster. If you are not a professional trader, however, we would recommend you speak to a financial advisor or someone with knowledge of these markets to help you through the process.
Additionally, when it comes to any type of investment in the cryptocurrency sector, knowledge is power and can mean the difference between making a profit or booking a loss. CoinBeat aims to provide our readers with the latest news and information to ensure they stay above the informational curve constantly. Subscribe to the CoinBeat exclusive daily and weekly market recaps to make sure you never miss an opportunity again.
Comments