If you see a Litecoin ATM near Miami, FL, you might wonder if Litecoin and Bitcoin are the same thing. They do share some similarities. Both are cryptocurrencies that can be used to purchase products or make peer-to-peer transactions. In fact, Litecoin has adopted several of Bitcoin’s features that have worked well for Bitcoin.
However, if you purchase Litecoin from a Litecoin ATM near Miami, FL, you are getting something that is different than Bitcoin. One of the biggest differences between Litecoin and Bitcoin is market capitalization.
Bitcoin is extremely popular because it can be mined by mining pools and large mining farms. The demand for Bitcoin is so high that it has a high currency to dollar exchange rate. Litecoin has a smaller supply and demand, so its market cap is significantly lower.
Another difference is the number of coins that each currency can produce. The Bitcoin network will top out at 21 million coins. Litecoin will be able to produce 84 million coins.
This may seem like Bitcoin is at a disadvantage. However, the truth is that the fewer coins there are, the greater the demand there will be for them. That being said, since Litecoin has more coins, it has a better chance of being adopted as a global currency.
Learn more about the differences between Bitcoin and Litecoin and see how RockItCoin Bitcoin ATM is helping people get access to Litecoin by installing trustworthy kiosks in major cities throughout the United States when you visit their website.