The popularity of the crypto currency has soared in recent years. The cause is none other than the rise of Bitcoin as a decentralized currency that more and more reliable internet users. The phenomenon then inspired some parties to "mimic" the concept of Bitcoin, with little difference expected to complement the shortage of the currency. Well, one of the most widely known crypto currency today is Litecoin.
The use of Litecoin has even started to be familiar in some online vendors who previously only received payment via Bitcoin. Although the market capitalization is still smaller, it can not be denied if Litecoin increasingly attracts the interest of digital currency fans. So, which one is better between Bitcoin and Litecoin? To reveal the answer, we will dissect the similarities and basic differences of the two virtual currencies.
Equation Bitcoin And Litecoin
At a glance, Bitcoin and Litecoin have almost no difference. As a decentralized crypto currency, Bitcoin and Litecoin are equally unregulated by governments and central banks of any country.
In addition, price fluctuations in both currencies are not affected by economic or political turmoil that can threaten the stability of a country, as well as in price turmoil in fiat currency (US Dollar, Japanese Yen, Indonesian Rupiah, and so on). In contrast, the value of Bitcoin and Litecoin relies more on cryptographic and pure network integrity determined by the level of market demand and supply.
And also there is a factor factor why bitcoin is better than other alcoin that is:
1. Lower Transaction Fee
This is the excess Bitcoin that has been recognized even by experts in the field of electronic currency.
2. Unbound On Conventional Currency
Like most e-payment systems, PayPal takes care of online transactions with conventional currencies like USD. In fact, there is always a big risk of using such a currency. Examples can be studied directly from Venezuela, Egypt, and countries that experienced massive conflict to cause the exchange rate of currency dropped sharply. In the most extreme cases, the conventional currency can be of no value at all.
Because Bitcoin applies as an online currency that serves as its own means of payment, there is no attachment to the conventional currency at all. So in this case, Bitcoin users will avoid the risk of conventional currency decline due to the conflict that almost always threatens the stability of countries in the world.
3. Applies Globally
PayPal can indeed meet cross-country transaction needs, but only in areas that reach only. As a registered e-payment from the United States, the PayPal system does not apply in the countries whose names are listed in the US blacklist. On the other hand, Bitcoin as a decentralized crypto currency is not restricted by any country policy and reaches all countries that have an internet network. In today's modern era,
4. Ensure Privacy
In Bitcoin, one can provide semi-anonymous ownership data. This technology is even continuously developed, so that in the future Bitcoin users can register as a full anonymous. For internet users who do not want personal data spread or misused, such advantages are certainly very helpful.
5. No Spread Spread
PayPal is a business entity, so it's no wonder if he implemented many strategies to maximize his product marketing. One such method is the variety of promos that are spam that often flooded the emails of its users.