Introduction
Ripple and Litecoin are two of the top 10 cryptocurrencies in the world. Both currencies have had some high-profile news coverage recently, and they’ve both been on a steady upward trajectory over the past couple months. So which one should you buy? If you’re thinking about buying Ripple or Litecoin, this article will help you learn more about each currency and decide whether it’s right for your investment portfolio—or even just for spending money at Starbucks in December.
Ripple (XRP) and Litecoin (LTC) are Both Among the top 10 Cryptocurrencies in the World.
Ripple (XRP) and Litecoin (LTC) are both among the top 10 cryptocurrencies in the world. XRP is currently ranked as the third largest cryptocurrency by market cap, while LTC sits at seventh place. Both coins have been used as a form of payment for years, but they also differ in terms of their uses and histories.
While XRP was created as an alternative to Bitcoin, LTC was developed as an attempt to improve on bitcoin’s weaknesses by creating an independent currency with faster transaction speeds and lower fees. While some investors may consider this a good thing because it leads them to believe there will be less volatility in crypto prices overall when compared against other cryptocurrencies on this list—and therefore potentially more money made during short periods where prices go up or down rapidly—others see this difference as unnecessary because both currencies can be mined just like any other crypto out there today does today!
Ripple is a Global Settlement Network, Making it Easy to Transfer Nearly any Currency to Anyone in the World in Just Seconds.
Ripple is a global settlement network, making it easy to transfer nearly any currency to anyone in the world in just seconds.
Ripple (XRP) is a real-time gross settlement system, currency exchange and remittance network built for financial institutions and merchants. Ripple connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally.
Litecoin is a Peer-to-Peer Internet Currency that Enables Instant, Near-Zero Cost Payments to Anyone in the World.
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. It was introduced on October 7th, 2011. The original and most widely used implementation of Litecoin is released under the MIT/X11 license by Charlie Lee via GitHub.
Litecoin was created by Charlie Lee as “a decentralized alternative to Bitcoin” that could be mined with consumergrade graphics cards rather than specialized ASICs (Application Specific Integrated Circuits). Litecoin uses an algorithm called Scrypt that was initially designed for Socks5 but works equally well for proof of work mining purposes in comparison to SHA256 which is now used universally for proof of work cryptocurrencies such as Bitcoin or Ethereum.[2]
Ripple Overview
ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. It is also called the Ripple Transaction Protocol (RTXP) or Ripple protocol. The idea behind it was to create an open source payment network that can process transactions between two parties in real time, making it cheaper than existing systems like Visa or Mastercard.
Ripple has its own native cryptocurrency called XRP which powers the entire network through distributed ledger technology (DLT). This allows banks and financial institutions all over the world to use their own local currency in conjunction with XRP instead of having to rely on traditional fiat currencies such as USD or GBP which are not always reliable when doing international transfers between different countries around the globe.
Litecoin Overview
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. It’s based on the Bitcoin software, but it has some improvements over Bitcoin.
Litecoin was created by ex-Google employee Charlie Lee in 2011 and went live on October 7th, 2011. He left Google and dedicated himself full time to developing Litecoin. The project’s lead developer until October 2014 was former MIT Media Lab director Charles Lee and his brother Justin Lee also served as a technical director in early 2012.[1]
Charlie Lee left Coinbase Inc., where he had been working since 2013 as Director of Engineering,[2] after learning about its plans for an initial coin offering (ICO). He stated: “I really don’t want any part in this ICO stuff.”[3]
Ripple vs Litecoin Comparison Table
Ripple vs Litecoin Comparison Table
Ripple Pros & Cons
Ripple is a global settlement network, making it easy to transfer nearly any currency to anyone in the world in just seconds. Ripple is a distributed ledger technology that enables banks to send real-time international payments across networks.
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. The platform also supports fiat currency gateways for customers who don’t have access to cryptocurrencies yet or have limited access due to regulatory requirements or lack of liquidity on their account.
Litecoin Pros & Cons
Litecoin Pros & Cons
Pros:
- It’s a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world.
- LTC was designed to be used as a medium of exchange just like cash or gold is today. The problem with most other currencies is that they require central authorities to verify transactions and issue new coins, but with Litecoin you don’t need anyone else’s approval for your transactions because it uses open source software which means anyone can see what’s going on at any time.
Ripple as Short Term Investment
Ripple is a good short term investment. It can be purchased for under $2,000 and has a market cap of over $200 billion.
Ripple offers more than just the ability to send money from one person to another through its payment platform, XRP (the name stands for “ripple protocol”). The company also offers banking services such as loans and credit lines.
Ripple as Long Term Investment
Ripple is a good long term investment. The future of this crypto has never looked brighter, with the company’s recent announcement that it will open its first international bank in Saudi Arabia and its partnership with several financial institutions.
Ripple has been around for more than ten years and has built up a solid infrastructure in order to process payments between banks and other financial institutions on an instant basis. This makes it attractive for banks who don’t have time or resources to deal with traditional payment systems like Swift or SWIFT (a global network connecting banks).
Ripple’s CEO Brad Garlinghouse said: “I believe that we are going through one of those inflection points where blockchain technology can be used as an alternative foundation for how people exchange value today.”
Litecoin as a Short Term Investment
Litecoin is a great short-term investment. It has a high volatility, so it’s ideal for day trading.
As with any cryptocurrency, there are risks associated with investing in Litecoin. The value of your investment can go down as well as up, so you should always exercise caution when making any type of financial decision—especially if you’re new to cryptocurrencies or don’t have much experience with them!
While most people would agree that Litecoin is better suited for long term investment than short term trading (because its volatility makes it difficult to profit from), there are still some good reasons why some investors choose this coin over others:
Litecoin as a Long Term Investment
Litecoin as a Long Term Investment
Litecoin has many advantages over Ripple. The first is that it has a larger maximum supply than Ripple, which means there will be more coins in circulation over time. This gives investors more coins to trade on exchanges and allows them to earn interest from their investments in LTC. In addition, the market cap of Litecoin is also larger than that of Ripple ($8 billion versus $4 billion), so even if you bought $1k worth of XRP at its peak value (which was huge), your investment would still have grown to about two-thirds what you paid for it!
Finally, trading volume for both currencies has been steadily increasing since each coin’s inception; however when compared side by side: Bitcoin’s daily volume consistently dwarfs all others’ despite its much smaller market cap ($7B vs $1B).
Which Should You Buy?
The Ripple network is a global settlement network, making it easy to transfer nearly any currency to anyone in the world in just seconds. Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world.
The two currencies are very similar and have many similarities, but there are also some key differences between them. While both currencies are used as payment systems and assets on their own (Ripple was launched as an open source protocol for enterprise use), Litecoin has remained decentralized since inception—meaning only one person or group can control its development process. Also unlike Ripple or Bitcoin Core (the original reference implementation of Bitcoin), Litecoin has no central authority or governing body; instead it uses blockchain technology as its backbone without any central clearing house involved at all!
Both Currencies Have Their Own Merits, but Which Should you Buy?
If you’re looking for a way to make money, Ripple is a better investment than Litecoin.
Ripple is the cryptocurrency that powers XRP, but it’s not the only one. It also powers other currencies like Ethereum and Bitcoin.
If you want to invest in a cryptocurrency that has some serious value behind it (and therefore will be worth more down the road), then Ripple is your best bet because of its high trading volume and liquidity against fiat currencies such as USD or EURO).
XRP has been around since 2013 when it first started off as an open source project where anyone could contribute code – any developer could add features or fix bugs in exchange for being a part of this community effort where everyone gets paid with tokens such as those issued by Ripple Labs Incorporated (“the Company”).
Conclusion
In the end, it’s up to you to decide which of these altcoins is right for you. Keep in mind that both Ripple and Litecoin have their own merits, and they are both worth considering as investments. If you’re looking to invest in an altcoin that could be used as a currency or payment method in the future, then Ripple may work best for you. However, if you want something more short term (like buying into Bitcoin), then Litecoin may be your best bet!