Before investing in any cryptocurrencies one should know everything there is to know about them.
Many of these coins all have similar functions. Some has more functions that others.
If two or more coins have the same functions those coins are now individual teams with individual supporters . This is the problem "If they have the same function none are better "because of this truth people now need re-assurance to help build faith so someone with great reputation whom has achieved great success will come along to give a specific coin a blessing.
Where does Litecoin fit in this? Litecoin has the same function as Doge, Bytecoin, Cbit the enhanced "Dash, Pivx" and many more that are just bitcoin imitators that are trying to become the primary CASH of the internet. Burst coin has a better chance of achieving this and am not even trying to be funny.
When investing in crytocurrencies I tend to repeat ask yourselves;
Use case: " What can I use this to do ? " BINGO !!! look at XMR, ETC and the Coming soon GNT
Why is it special: "Can any other cryptocurrencies do what this one can do ?" A whole lot of me too coins are out there.
Integrity: " Are the parties behind this cryptocurrency good at what they do?, Are they corrupted by greed or some nefarious agenda? " eg. ETH
one should for a moment ignore the price between ETC and ETH and look into the integrity of them both. lol some food for thought
The Pump and Dump
Investors are sometimes if not most times cut-throat when it come on to business and if they see an opportunity to cashout big time they will.
Scenario: A wealthy person buying a lot of Litecoin, forcing the price up then selling them back to the market little by little at the peak price then goes about his merry way. This is illegal in some markets but not in cryptocurrencies ; ) . Lite coin has zero defenses against being used and tossed aside.
How to be safe
Read all about the coin; Then read all about all the other coins.... wait what are you crazy ? there are many other coins !!! Well that's the price one has to pay in order to finding proper investments my friends. you just gotta see if this coin meet the requirement that are set above.
Learn how to trade with whales; If they are gonna pump and dump a coin you can actually spot the (Big buy in and the Big sell off) this is not at all difficult to do. After being able to spot this you can now buy when they buy and sell when they sell to profit when they profit. Find out how to here. this protects you from being another victim.
Litecoin to the moon !!! ... Right, if you are gonna be investing you should know propaganda when you see it. Use it to your advantage and don't get caught by it.
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