CNBC analyst and Fast Money trader Brian Kelly has officially added Litecoin to his portfolio of cryptocurrencies, given its recent surge in value, technological developments, and increasing adoption rate.
Created by Charlie Lee, the former Coinbase director of engineering, Litecoin has served the market as a complementary cryptocurrency to bitcoin. With lower fees and faster confirmation times, Litecoin operates better as a currency for smaller payments than bitcoin.
Recently, Steam, the US-based digital distribution platform, removed bitcoin from its platform and integrated Litecoin, due to the complaints from its users and customers about bitcoin’s increasing fees. As such, Steam added Litecoin, that have less than $0.5 transaction fees on average.
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