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Weekly Crypto Insight: Learn more about Litecoin, XRP and Big Eyes Coin

By EWN • Published: 21 Oct 2022 • 14:11

Investing in cryptocurrency might be profitable even though there are risks involved. Investing in stocks is still the safest and least volatile option for investors, but cryptocurrency is still the most profitable.

Despite the dangers, using cryptocurrency has many benefits. Such as excellent security, simple transactions, and substantial rewards. Due to the distinct characteristics that each cryptocurrency has that might be advantageous for its users, having a wide variety of cryptocurrencies in one wallet may be handy.

We will look at two well-known names in the cryptocurrency market and one brand-new coin that is destined for greatness in this article to introduce cryptocurrencies to others who are not as familiar with them. Litecoin, XRP, and Big Eyes Coin are these coins.

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Litecoin (LTC) is the Right Coin

Litecoin, often known as digital silver, is a cryptocurrency that was created to offer quick, inexpensive, and secure payments by utilising the various advantages of blockchain technology. The term “altcoin” is a combination of the words “alternative” and “coin.” Litecoin is regarded as the first altcoin to be launched in the cryptocurrency market.

As Litecoin is similarly based on a worldwide payment network that is open-source and cannot be controlled by any middlemen, there are some parallels between Bitcoin and Litecoin. Because of its higher block generation rate and usage of the Scrypt proof-of-work (PoW) algorithm, Litecoin sets itself apart from Bitcoin in some ways.

Litecoin was developed based on the Bitcoin protocol, although it differs from Bitcoin in terms of the hashing algorithm employed, block transaction times, and certain other aspects. Due to its fast block times and incredibly cheap transaction fees, Litecoin is ideal for point-of-sale payments and microtransactions.

What is XRP (XRP)

The main purpose of the coin XRP is to serve as a medium of trade. The token acts as a pool of liquidity, allowing users to send any currency directly to another without the use of an intermediary.

For the sake of illustration, let’s imagine that a bank or company needs to send money to another financial institution in a different nation. To pay the receiver in their currency, the bank would need to wire the money over and convert its currency. All of this may sound useful, but the quantity of movement required to complete the transaction causes the process to take days and incur significant fees.

Big Eyes Coin (BIG) Coming to Conquer the Meme Coin Sector

The Big Eyes Coin presale has hit so many milestones during its presale phase and has just reached another one, as they hit $8.28 Million in stage five of their presale. We can only hope for the best for the meme coin as the Big Eyes Coin gears up for the release of the Sushi Crew NFT and the opening of the “Supurrr Store.”

The Big Eyes Coin is a brand-new meme coin that you ought to be aware of. This currency is the second-best meme coin, however, it is still available for purchase in the presale. Excitement increases as this meme coin reaches more significant milestones. Big Eyes Coin is a full-featured community token made with the express purpose of bringing money into the DeFi ecosystem and defending an essential portion of the wider ecosystem. Community tokens are a significant source of income for nonprofit and community organisations.

The game will change as a result of upcoming Big Eyes Coin improvements. BIG plans to provide 5% of all earnings to organisations that promote the preservation of marine life. It has vowed to fight for the protection of our ecosystem, and this is a part of that. This conflict is more common than ever right now, and the BIG community solidly supports it.