Thanks for the responses, I read on a reddit forum in which someone said you eventually could go to jail for owning monero......kinda made me second guess.
Please tell me that you don't believe this because some users in reddit sometimes do speculate rumors.
Probably the reason the unknown person said that one could be jailed for owning Monero is because this coin is mostly used in the Dark Net. Buyers and sellers there use it in other not to trace their transactions, so its sort of heavily patronized there.
Moreover, Its not the coin's fault that mostly dark net users makes use of it. I believe every coin has it own uniqueness and so does Monero; been anonymity is it uniqueness and that is why most people still go for it.
So between Litecoin and Monero, I will definitely go for Monero because it has the potential to make impact in years to come, and also compete with Bitcoin.