By now, we’ve all heard of Bitcoin, Cryptocurrency, and the various ‘coins’ that fall under the term “Cryptocurrency“. It’s not exactly a new technology, with Bitcoin having been around since 2009 (and the initial idea as early as 1998) – forever ago in the age of the internet. I wont drum on about the history or backstory of Bitcoin, or any other currency, but they are all interesting in their own right. I am pretty excited about the technology that’s behind cryptocurrencies, along with the insane volatility of their markets, and just how easy it is to get involved.
My venture into Litecoin
I began hearing some buzz about Bitcoin and it’s value approaching $10,000 – pretty big number that got my attention. From what I knew, I could own a portion / fraction / percentage of a Bitcoin, or I could own an entire Bitcoin (coin). After spending some time reading various posts and lurking on https://www.reddit.com/r/Bitcoin/ – I decided to get in on the excitement. I jumped over to Coinbase, I signed up for an account in which I was able to quickly verify my identity, and within an hour or so, I had purchased 0.0187 of a coin… amazing! I watched eagerly as various exchange markets indicated that the valuation of single coin was going up. And sure enough the $10,000 barrier broke and from there I was hooked! I then recognized something called Litecoin – an alternative, cheaper, and ‘faster’ currency. The price per single coin was much more reasonable, about $85 at the time – to me, this was my chance to get in early on the excitement for Litecoin. I logged into my Coinbase account and BOOM! An entire Litecoin was mine!
Cool, You’re into Litecoin, so what?
Yep, I’m one of many hundreds of thousands of people who have jumped on the wagon. Having participated in the markets for nearly a month now, I decided it was time to do my part in teaching, sharing, and helping guide others in Litecoin community. Why not Bitcoin, or Etherum, or any other currency? Well, my interest is Litecoin – I assume my bias is based on me having been able to afford a single coin and thus, being able to experiment and watch in real time as my investment has changed and evolved.
Over the next few weeks I plan on blogging about various tools, exchange markets, and touching on the technology side of Litecoin. My goals are to help more people understand the joys (and dangers), along with making Litecoin more accessible to everyone. Oh, and no, it’s never to late to join in on the exciting ride of Litecoin (or Bitcoin if you must)!