At the Litecoin Summit 2018, Charlie Lee revealed his top three altcoin picks. Lee went with Litecoin, followed by Monero and Decred.
Litecoin, a Bitcoin fork, is a peer-to-peer cryptocurrency designed to make day-to-day purchases.
Monero is specifically designed to be untraceable digital cash.
Decred, like Litecoin, is similar to Bitcoin, and introduces several features aimed at solving blockchain governance. Its developers executed an atomic swap between Decred (DCR) and Litecoin (LTC) in September 2017.
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— ChangeNOW (@ChangeNOW_io) September 17, 2018
Altcoin Buzz also asked Lee what type of investments he would avoid. The Litecoin creator cautioned against ICOs, claiming “a lot of them are scams and a lot of them are set up to fail due to the incentive structures.”
Lee is not the only one who is wary of ICOs. Popular YouTube personality Britvr says he would avoid ICOs for now, until the market improves.
Attendees who were interviewed chose other popular altcoins as their top picks, including Cardano, Ethereum and Ontology.[the_ad id="42537"] [the_ad id="42536"]
The San Francisco event was Litecoin’s first-ever summit. It was hosted by TV and crypto personality Naomi Brockwell and featured several crypto YouTubers and the following lineup of speakers:
- Elizabeth Stark, CEO of Lightning Labs, a pioneer in the development of the Lightning Network
- Eric Winer, vice president of engineering at Gemini, the US-based exchange run by the Winklevoss twins
- Diego Guriérrez Zalvidar, CEO RSK labs, a leader in smart contract side chains built on top of Bitcoin and Litecoin networks
- Adam Draper, managing director of Boost VC, an investor in cryptocurrency startups
- Alex Bosworth, co-founder of Source Labs and lead maintainer on the submarine swaps platform that is advancing the implementation of atomic swaps for blockchains
- Bill Barhydt, CEO of Abra, an investment platform bringing cryptocurrency to the masses
- Michael Ou, CEO of CoolbitX, a newcomer to the cryptocurrency hardware wallet space
- Franklin Richards & Xinxi Wang, founding directors of Litecoin Foundation, a Singapore-based nonprofit that advances and promotes the growth of the Litecoin Ecosystem
- Rytis Bieliauskas & Vilius Emanas, CTO and COO of Coingate, a leader in merchant solutions connecting cryptocurrency to traditional finance