According to a recent PSA made by Bitcoin.com’s Twitter handle, Litecoin’s transaction fee is highlighted. The average transaction fees for Litecoin are 0.04% as depicted on Bitinfocharts. This has created a social media ruckus wherein supporters from both projects are fighting each other on the basis of transaction fees and time.
Litecoin’s exchange platform is well known for its low fees i.e. 0 % for investors and 0.2% for revenue producers. Recently on Bitinfocharts, it was revealed that Litecoin has been deploying high transaction rates for its users. The average rate at which transaction ensued is 0.04% which is double the customary rate.
This is rather very contradicting as Litecoin supposedly claims to have the lowest transaction fee of 0.2%.
BCH offers 0.004% as the average fees for transactions, which in comparison to Litecoin is 20 times. Apart from this Litecoin network has become more accessible to users due to its quick transaction which takes about 2.5 minutes per block.
On the other hand Bitcoin processes at the rate of 10 minutes per block. Litecoin also offers a Proof-of-Work algorithm which is supported by scrypt.
Bitcoin is crowned on top of the crypto-trade market as it has the maximum capital worth of $147,721,722,819, while the BCH net worth is $17,848,657,052. This pedestal has provided BCH with the opportunity to engage with their users on a vast scale. Despite the contradiction in the recent reports for Litecoin, it’s considered faster than BCH according to the users.
The link for the above statistics https://bitinfocharts.com/comparison/median_transaction_fee-bch-ltc-sma7.html
Mainstream social media users are hell-bent on bringing the digitalized currencies into the popular culture.
Konigreich Enterprise’s tweets,
“I read an article that showed a litecoin transaction made the other day for the sum of $99 million USD that apparently cost $0.40cents in fees. In this case, $0.40 percent should not be a problem for any crypto users. Don’t hate these LTC guys”
Dave Branson tweeted saying,
“BTC be like, we don’t have enough enemies let’s attack the LTC community, LMFAO”
A Crypto-enthusiast says,
“Off course offering a high-speed transaction requires some extra commission, which should not be an issue. BCH may charge lower prices but they take hell lot of time”
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