Litecoin Makes Investing Into Cryptocurrencies Easy By Being Stable
There are a lot of people right now that are mad because Litecoin hasn’t made them millionaires or they feel like Charlie Lee isn’t doing enough to make their Litecoin worth more while they sit on their ass and comment on Reddit.
Personally, I don’t expect anything from anyone when investing in something that was meant to be decentralized from the start. If you want structure, guidance and accountability with a chance to make it big, there are plenty of companies on the OTC Markets that report to their shareholders. Feel free to gamble there.
When it comes to cryptocurrencies, I love Litecoin for its stability. I look at it as a safe gateway to the unstable world of cryptocurrencies. It is essentially my bank account for investing. I buy Litecoin with USD and store it until I am ready to invest into another cryptocurrency. Then I use Shapeshift.io to convert Litecoin into whatever cryptocurrency I desire.
I don’t day trade, I research and invest for the long haul. I have a general idea for each currency on when I might take profits out. This is where I really love Litecoin. Not only does LTC make it easy for me to get into a new cryptocurrency via Shapeshift but it also makes it easy to get back out of that cryptocurrency when it goes up to my exit level. Instead of converting it straight to USD and having to worry about taxes at that moment, I can simply convert it back into LTC, now gaining more LTC than I initially used to invest.
While there is no guarantee that Litecoin will not become volatile one day, right now the few dollar swings are well within my comfort zone for my current strategy and I can sleep better knowing that my newly gained LTC is going to remain relatively stable. Sorry to those that got into Litecoin for reasons that are not playing out for them but it is working perfectly for my setup right now.
When it doesn’t work for me, I’ll adapt, instead of whining about it like a 2 year old that didn’t get his way.