Litecoin vs. Bitcoin: Which Is the Best Cryptocurrency Investment for New Buyers? Aug 19, , PM. Bitcoin 4 min, 32 sec READ. Brought to you by. Litecoin has been referred to as the silver to Bitcoin's gold, but what is Litecoin, and Users of either currency should, therefore, have no difficulty purchasing. The most significant difference is in transaction speeds ranging from minutes to 10 minutes, and transactions per second ranging from to over 50 transactions per second. Litecoin was designed to be a faster and more efficient version of Bitcoin, hence the name “lite.”. It would take substantial capital to take Litecoin to the price per Bitcoin, and Bitcoin would likely rise with it and absorb any chance of becoming bigger. They also target a similar investor audience and have the same currency like use case, essentially making them compete with one another also. They both act as payment currencies, albeit Litecoin is faster. Article Sources Investopedia requires writers to use primary sources to support their work. Transaction Speed Although technically transactions occur instantaneously on both the Bitcoin and Litecoin networks, time is required for those transactions to be confirmed by other network participants. Transparency: Bitcoin and Litecoin should i buy bitcoin or litecoin allow users to look up transactions on a block explorer. There are about 40, pending mempool transactions at the time of writing.