Litecoin price prediction 2021: Can the crypto reach $500?

CRYPTOCURRENCIES including Litecoin have garnered attention from investors in 2021 - but they come with plenty of risks.

You’ve probably heard of Bitcoin, but maybe not its so-called “little brother” Litecoin. We explain what you need to know.

Whether you decide to invest in either Bitcoin or its little brother, both come with a number of risks because they are cryptocurrencies.

When it comes to buying crypto in particular - you’ll want to be cautious in the extremely volatile space. If you aren’t - you could lose a lot of money quickly.

Just ask investors who were unfortunate to buy at Litecoin's all-time high of $412.96 in May.

Although Litcoin has seen some gains in the past couple of week, investors still find their value in the cryptocurrency down by more than half since May's peak.

Also, be aware of fees and charges. These can cost more when compared with regulated investment products. 

Plus, there's scant regulation for crypto firms, so you'll likely be without protection if things go wrong.

While Litecoin seems like an enticing bet, make sure that you don’t invest in anything that you don’t understand.

What is Litecoin?

As the name indicates, the  is small.