What Is Bitcoin Cash?
Carrying the name of the most popular cryptocurrency in the world, Bitcoin Cash was created in August 2017 as a fork of Bitcoin. The main idea of creating such a blockchain was to increase Bitcoin’s block size limit. A group of Bitcoin developers and users who were not satisfied with the scalability of Bitcoin decided to clone Bitcoin and improve it to a faster and more scalable blockchain.
As a result, Bitcoin Cash was born, which was supposed to increase the block size from 1 MB to 8 MB. However, Bitcoin Cash currently supports block sizes up to 32MB, making it more efficient and faster than its big brother. Read more about the differences between Bitcoin Cash and Bitcoin, especially if you want to know which might be a better investment.
Bitcoin Cash is also the name of the token on this blockchain, shown by BTH, which is used as an investment, transaction fee, purchasing goods, or payment method in online stores. The maximum supply of Bitcoin Cash is equal to Bitcoin; both are supposed to supply 21 million tokens.
You can buy Bitcoin Cash on BlockTrade using different payment methods. The easiest method is to buy Bitcoin Cash with credit cards, which is an easy-to-use and trusted method in more than 40 countries. It is also possible to buy Bitcoin Cash with PayPal, which is another easy way to purchase any cryptocurrency.
Furthermore, there are more modern ways to buy this coin, like purchasing Bitcoin Cash with ApplePay, which is a mobile payment service by Apple that is available on its devices. Don’t worry; for people who have Android phones, buying Bitcoin Cash with GoogplePay is also supported on BlockTrade.
What Is Litecoin?
Created based on Bitcoin’s original source code, Litecoin is a cryptocurrency launched in 2011 to improve the speed and cost of transactions on the Bitcoin network. As it is known, Litecoin has the same purpose as Bitcoin Cash; both have been designed to perform faster and cheaper than Bitcoin.
Generally, Litecoin is known as a peer-to-peer trading system that supports low-fee transactions across different cryptocurrencies. It uses a mining algorithm called scrypt, which is different from the mining process on Bitcoin. Since it was created right after Bitcoin, it is known as one of the oldest cryptocurrencies, now with a high market capitalization. Litecoin reduces the block generation time from 10 to 2.5 minutes, so transactions can be confirmed quicker.
Until 2020, Litecoin was a mining-based altcoin, so it used Proof-of-Work (PoW) consensus method to validate transactions. But, in 2020, Litecoin was upgraded to Proof-of-Stake (PoS) network, which is a more sustainable and scalable performance compared to PoW. Read more about what Litecoin is and how it works.
Litecoin’s native token has the same name as its blockchain, shown by LTC. It can be used as an investment, transaction fee, or purchasing goods online. The max supply of Litecoin is 84 million coins.
Buy Litecoin on BlockTrade without any trading fees. Furthermore, BlockTrade offers different payment methods to buy this token. The easiest method is to buy Litecoin with credit cards or debit cards. If you want to use more modern methods like mobile payments, you can buy Litecoin with ApplePay on your iOS devices or use GooglePay to buy Litecoin on Android devices.
Bitcoin Cash and Litecoin Similarities
Coming from the same origin, Litecoin, and Bitcoin Cash share some similarities:
- Both cryptocurrencies aim to provide faster and cheaper transactions than Bitcoin, but they have different approaches.
- Both cryptocurrencies have a limited supply of coins. Litecoin has a higher inflation rate than.
- They are both widely accepted by different platforms and services. You can buy, sell, trade, store, and spend Bitcoin Cash and Litecoin on various websites and apps that accept cryptocurrencies.
Bitcoin Cash and Litecoin Differences
| Bitcoin Cash can handle more transactions per second (TPS) than Litecoin. | Litecoin has lower transaction fees than Bitcoin Cash. |
| The maximum supply of Bitcoin Cash is 21 million tokens. | The maximum supply of Litecoin is 84 million tokens. |
| The average time for Bitcoin Cash to generate a block is 10 minutes. | The block generation time on Litecoin is 2.5 minutes, making it faster than Bitcoin Cash. |
| Bitcoin Cash has a market cap of about $15 billion. | Litecoin’s market cap is around $12 billion. |
Which One Is a Better Investment? Bitcoin Cash Vs. Litecoin?
We mentioned the similarities and differences between Bitcoin Cash and Litecoin. But, when it comes to investment, there are some factors to consider before buying a cryptocurrency. Therefore, to discover if Litecoin is a good investment or if you should put your money on Bitcoin Cash, you must check out the following aspects:
- Technical Analysis- Although you cannot invest in a cryptocurrency based on its history, it is still important to check out the history of each token you want to buy. From the reason this blockchain was created to the price fluctuations it had in the past, all can help you figure out how well a cryptocurrency has performed.
- Fundamental Analysis- The other crucial thing to consider is cryptocurrency’s current situation on the market. Is it struggling with legal issues, like XRP’s battle with SEC, which impacted its price? Additionally, the investors and stock value of the company can also tell a lot about the current performance of a digital currency.
- Price Predictions– Checking out the different aspects of a blockchain, crypto experts and analysts usually share their predictions about a cryptocurrency’s future performance. However, these are only predictions and have been considered based on the current situation. But the cryptocurrency market is so volatile, and no one can guarantee that the price predictions will really happen.
Bitcoin Cash Vs. Litecoin: Price History
As mentioned, it’s helpful to check out the ups and downs of a cryptocurrency in the past to discover what factors could affect its price or how volatile a digital asset has been in the past.
Bitcoin Cash Price History
Bitcoin Cash was released to the market on 1 August 2017 at $240 per coin. Although its initial price was higher than most other cryptocurrencies on the market, in only a few months, its price rose to $3,324 per coin, showing that it was a great short investment for its holders. However, 2018 wasn’t as good as 2017, especially for the investors who had bought this coin at its highest price. BTH lost its value in the second half of the year as it reached $74 at the end of the year. After one year of profit, it was a huge loss for most investors.
BTH started 2019 with a small rise at $167. However, this year didn’t have significant surprises for investors. Although the price went up some days, it wasn’t that high to be considered a great profit. The same happened in 2020; Bitcoin Cash’s average price was around $200-$300 per coin. Apparently, this year didn’t have any mind-blowing profit for BTH holders.
But the great surprise was waiting for BTH owners in 2021 when it rose to $1,549 and showed its profitable side to investors again. Although it didn’t stay at this price for long, 2021 was still a great year for investors who had bought BTH the previous year. As 2021 passed, Bitcoin Cash’s price fell and started the next year at $430. However, it fell again and again until it finished in 2022 at $100 per coin. 2023 passed with almost a stable price for BTH. At the time of writing this article, the Bitcoin Cash price was $270 in July 2023.
Litecoin Price History
Litecoin was released to the market in 2011 with an initial price of 30 cents. However, it didn’t have significant change until 2013, when it reached $4.18 per coin. In November 2013, its price rose to $38.74, showing its investors that it could be a profitable short-term investment. However, it dropped again and ended the year at $2.73.
Litecoin didn’t have great years in 2015 and 2016. Its price was stable in these two years at an average value of $3.
However, 2017 was surprising for Litecoin holders because its price suddenly rose to $237.57 per coin, an excellent profit for those who had bought this token in the previous year. Litecoin had many fluctuations in 2018 and 2019. But in 2021, it surprised the market again by reaching its highest price of $255.79, showing the investors that it is returning to the competition. Although Litecoin’s price decreased to $55 in 2022, it started to grow again in 2023. At the time of writing this article, Litecoin’s price was $94 in July 2023.
Bitcoin Cash Vs. Litecoin: Price Predictions
People purchase a token with the desire that its price rises in the future. However, no one can predict the future because the crypto market is so volatile. Meanwhile, the crypto experts and analysts check out different factors and give ideas about the probable future of each token as price predictions. Let’s see what they think about Bitcoin Cash and Litecoin.
Bitcoin Cash Price Predictions
- The analysts at CryptoNewsZ predict a possible price of $300 for Bitcoin Cash in 2025. They also think Bitcoin Cash might reach $732 by 2030.
- According to Techopedia, Bitcoin Cash might be around $450 by 2050, and it could possibly reach $850 by 2030.
- The AMBCrypto crypto experts think Bitcoin Cash might be around $207 in 2025, and its price could possibly rise to $591 by 2030.
Litecoin Price Predictions
- Based on the predictions on CryptoNewsZ, the possible maximum price of Litecoin might be around $305 per coin, and it might reach $1,053 by 2030.
- Techopedia’s predictions say that Litecoin might possibly be around $270 in 2025, and it might reach $863 by 2030.
- The crypto analysts of AMBcrypto think that Litecoin’s price might be around $134 by 2025, and in 2030, it might possible reach $312.
Read the complete analysis of Litecoin price predictions from 2023 to 2030.
Tips About Buying Litecoin or Bitcoin Cash
No matter which cryptocurrency you decide to buy, it is essential to follow these tips:
- Make sure you are aware of the investment risks. By knowing what to expect, you can have a better investment.
- If you live in Europe, check out if your country of living is among the crypto-friendly European countries. Otherwise, it is essential to read more about the rules and regulations about cryptocurrency in your homeland.
- Always keep your tokens in a safe and secure wallet. It is crucial to discover the best crypto wallet, especially for your long-term investment.
- Keep in mind that the price predictions may not come true. Therefore, as a beginner, it is better to choose an exit point for your investment to avoid losing money.
Bottom Line
As can be seen, Bitcoin Cash and Litecoin come from the same origin, and both have been created for a common purpose. However, they perform differently. One is faster, and one can transact larger block sizes. In the case of investment, you should consider different factors to decide which one to buy. Note that due to the volatile world of cryptocurrencies, it is impossible to forecast a token’s future. Therefore, check out the mentioned factors on the day you want to decide. Read more about how to choose the best cryptocurrency to buy.
FAQs
Is Bitcoin Cash better than Litecoin?
The answer to this question depends on the user’s preferences. For example, if you want to support a more extensive and more decentralized network that can handle more transactions and users, you may prefer Bitcoin Cash over Litecoin. On the other hand, if speed is more important than scalability, Litecoin can be a better option for you.
Which one is faster? Litecoin or Bitcoin Cash?
The main idea behind designing Litecoin and Bitcoin Cash was to improve transaction speed and scalability, which Bitcoin lacked. It takes up to 10 minutes to create a block on Bitcoin Cash; this process is done in 2.5 minutes on Litecoin. Therefore, Litecoin is faster than Bitcoin Cash.
Is it better to buy Litecoin or Bitcoin Cash?
If you want to buy crypto tokens as an investment, you should consider several factors that might change daily. Therefore, no one can tell you which cryptocurrency can be profitable in the future. Do your own research, seek help from experts, and then decide.
