Which is a better option to invest in, bitcoin or litecoin (and why)? - ProProfs Discuss
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Which is a better option to invest in, bitcoin or litecoin (and why)?

Which is a better option to invest in, bitcoin or litecoin (and why)?

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Asked by H.Donna, Last updated: Jul 05, 2020

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G. Tanaka

Who deals with teeth problems and fix them

G. Tanaka, Dentist, MDS, Liverpool

Answered Oct 24, 2019

There are a lot of people who are starting to invest in the stock market because they know that this will allow them to get the type of portfolio that they want. There is a possibility that one of the things that they will invest in will truly provide what they need in the future. A lot of people may become more familiar with Bitcoin, but there are also some people who feel that there are already too many Bitcoin holders in the world.

They would rather invest in Litecoin, which is not as popular but is also effective. The best thing that you can do is to invest in both. If you have the money to do it, it is ideal if you would diversify your investments so that you can get your money from different sources.

 

h. George

Government employee and a part-time content writer.

H. George, Copywriter, MA in English, California

Answered Feb 26, 2018

For many years it has been common practice when investing in the stock market to invest in a diversified portfolio. The same can now be said for cryptocurrencies such as bitcoin, litecoin and others. The reasoning behind this can maybe be best explained by thinking about the well-known American idiom, “Don’t put all your eggs in one basket.” If something happens to the basket, you can lose all your eggs. A more sophisticated answer is that as markets rise and fall, a diversified portfolio helps to smooth out the ups and downs.

The same is true when investing in the cryptocurrency market and that is why you shouldn’t just have all Bitcoins, rather you should have a portfolio of different types of cryptocurrencies.

 

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