Is it worth investing in Litecoin in 2023? Is it a cryptocurrency that’s here to stay? We cover it all!
Litecoin (LTC) is the 17th largest cryptocurrency by market capitalisation and trades at $60 at the time of writing.
Today Litecoin is a shadow of its former self. Being one of the first altcoins, it was a game-changer back in 2011, being released two years after Bitcoin and claiming to solve a number of its problems.
But Litecoin is certainly not dead and is still a major player. It is still being actively worked on and is one of the most accepted cryptocurrencies by merchants.
In this guide, we will try to answer the following questions - What is Litecoin? Is LTC a good investment?” and “Should I invest in Litecoin in 2023?”
Contents:
Is it Worth Investing in Litecoin in 2023?
How Much Will Litecoin Be Worth?
What Will Affect LTC in 2023 and Beyond?
Who Should Consider Adding Litecoin To Their Portfolios In 2023?
Final Words: Is It Worth Investing In Litecoin?
What Is Litecoin?
Litecoin is one of the top cryptocurrencies by market cap and currently ranks 17th as per CoinMarketCap.
Litecoin was created as a fork of Bitcoin to improve on its scalability and speed issues. Today, Litecoin is one of the most popular forks of Bitcoin that, based on tech analysis and past data, is here to stay long after 2023.
To be more precise, Litecoin was created in 2011 by former Google employee Charlie Lee, which is also a factor that gives Litecoin a sense of credibility.
Lee recognised the potential for cryptocurrency within Bitcoin - a pioneering asset back then - but wanted to make money transfers and everyday payments more efficient by offering bigger blocks and lower transaction fees.
Just like other cryptocurrencies, Litecoin is a decentralised platform, which means that the need for intermediaries and central banks is eliminated.
As a matter of fact, with more than 16,000 cryptocurrencies in existence, many investors and blockchain enthusiasts believe that blockchain technology is the future of banking - with Litecoin being a major player to consider!
What Is LTC?
‘LTC’ is the ticker symbol of Litecoin. Do note that you will often see LTC and Litecoin used interchangeably (like in this article), though more often LTC refers to the token while Litecoin refers to the whole project.
Å is another symbol of Litecoin and the crypto has eight decimal points like Bitcoin. These subunits are called ‘millilitecoin’ for 0.001 LTC (1⁄1000) and ‘microlitecoins’, ‘photons’, for 0.000001 LTC (1⁄1000000).
This popular coin can be found on nearly every exchange and be used for investing, trading, purchasing goods, and everyday transactions.
And innovative technologies, such as the Lightning Network and Atomic Swaps, enhance instant global financial settlements and cross-blockchain trading.
For those new to the realm of cryptocurrencies and blockchain technologies, we should note that Atomic Swaps are defined as smart contracts that allow the exchange of one cryptocurrency for another.
The Lightning Network, on the other hand, is defined as a second layer technology that uses micropayment channels to make transactions more efficient.
What Is Litecoin Used For?
Litecoin aims to be a more efficient version of what Bitcoin was originally designed to be - digital, peer-to-peer cash.
To best explain what Litecoin is trying to improve upon, we first need to explain that Bitcoin has several issues with scalability, especially as it became more popular.
Transaction fees became more expensive and started to take longer. Plus, there is the issue of energy efficiency - Bitcoin consumes a lot of power to function.
Litecoin, as it was explained in its launch on Bitcointalk by Charlie Lee, is intended to be “a lite version of Bitcoin”. (Hence the name!)
This is quite common in the tech industry to seek to simplify existing technology to improve performance. To make it faster, easier to use and easier to fix if there is ever an issue.
Litecoin was around way before all the fuss over smart contracts, dApps and DeFi. Because of this, it makes it perhaps a better investment for the more old school crypto traders who want to stick to the older goals of crypto.
Litecoin’s ideology is similar to that of Bitcoin’s - cut out the banks and third-parties. The difference being that Litecoin wants to take Bitcoin and make it more efficient; to cut out processes that consume too much energy and speed up the process.
As Bitcoin slowly turned into a store of value, Litecoin remained a transactional cryptocurrency.
Litecoin’s primary rivals include Bitcoin Cash and Dash which can also both be labelled transactional cryptocurrencies.
Some claim that Litecoin acts like an unofficial testing ground for Bitcoin because some features that are introduced and tested out on Bitcoin later get implemented on Bitcoin too, such as the Lightning Network and SegWit.
Today, Litecoin is accepted by a variety of merchants and new ways of using the coin are still emerging.
How Does Litecoin Work?
Litecoin is a peer-to-peer cryptocurrency that works similarly to Bitcoin. That said, Litecoin allows people to send transfers and execute everyday payments beyond borders fast and at low transaction fees.
Compared to Bitcoin (often seen as a store of value), Litecoin is a preferred choice for small purchases, with its Atomic Swap technology being a major factor that facilitates further cross-border transfers.
Litecoin can process 56 transactions per second. In contrast, Bitcoin can process only 7 transactions per second.
Litecoin also offers fees that are minuscule when compared to other payment systems, such as PayPal.
As stated above, Litecoin does not rely on central banks or authorities, so Litecoins are not issued by a government. Litecoins (LTC) are mined instead.
For those new to the cryptocurrency sector and blockchain technologies, we should mention that mining is defined as the process of processing transactions and creating blocks of data that are added to the blockchain digital ledger. Mining is the actual process that eliminates the need for third-parties.
There is a limited supply of 84 coins - four times bigger than Bitcoin - with 71,588,506.23 LTC Litecoins already in circulation at the time of writing.
The good news is that compared to Bitcoin, Litecoin uses a more accessible and power-efficient mining algorithm called Scrypt.
Scrypt is an intensive memory algorithm that demands calculations to be carried out sequentially.
Being more democratic and accessible, Scrypt prevents Application-Specific Integrated Circuits (ASICs) to monopolise mining. LTC mining may attract more miners and investors over time because of this.
Another major difference between Litecoin and Bitcoin is the fact that Litecoin generates blocks every 2.5 minutes as opposed to 10 minutes for Bitcoin (with 12.5 Litecoins being generated per block).
What does all that mean in real-world settings, though? Imagine that Bob in the UK wants to send some money to Sarah in Australia. If Bob goes to a bank, his transfer will take a lot of time, money, and paperwork.
If he decides to use Litecoin instead, he can avoid all these issues; it will take only 2.5 minutes for Sarah to receive her funds. This is the time needed for miners to verify the transaction as legitimate.
Read Also: Bitcoin vs Litecoin: Which Crypto Should You Buy
Would you consider investing in Litecoin?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Is It Worth Investing In Litecoin In 2023?
Given the fact that Litecoin is the twenty-fifth-largest cryptocurrency by market cap, it’s believed that investing in Litecoin in 2023 is worth it.
Many investors claim that Litecoin in 2023 is worth considering, insisting that its price could grow further in the long term.
Data show that there also appears to be some significant upside potential for LTC: if the coin continues to show higher lows in the hourly charts, its bull run may continue.
Though Litecoin is currently trading at $60 - which can’t compare with Bitcoin - Litecoin has some significant growth potential.
Moreover, as Litecoin has a max supply of 84 million, its scarcity makes LTC a safe harbour from depreciation and inflation and might help it become a store of value for long-term investors, especially in turbulent economic times.
That said, when deciding to invest in cryptocurrencies, always keep in mind that crypto investing can be risky. Never invest more than you can afford to lose.
This doesn’t mean that investing in LTC in 2023 is a bad idea: it just shows that the risk to reward ratio of LTC should be considered.
Check Out: Will Litecoin Make Me Rich?
Why Is Litecoin So Cheap?
Because demand for Litecoin is lower than other cryptos like Bitcoin and Ethereum.
And in terms of supply, remember that there will only ever be 84 million coins. This is four times that of Bitcoin, so Litecoin is much easier to get a hold of. The more of something there is, the less rare and therefore valuable it is.
The Litecoin team likely wants to remain cheap so they can continue being a transactional cryptocurrency.
Is Litecoin Better Than Bitcoin?
On a technological level, it could be said that Litecoin is better than Bitcoin, but Bitcoin has the edge - it’s extremely popular.
Supposedly 100 million people around the world own Bitcoin. Meanwhile, there are approximately only 236,240 active Litecoin wallets, at the time of writing, according to BitInfoCharts.
Bitcoin also dominates the market cap of cryptocurrency.
Major cryptoassets by percentage of total market capitalisation. Source: coinmarketcap.com
Litecoin is better than Bitcoin in the sense that it can be used as an easy way to make transactions.
This could mean that over time we will see wider use of Litecoin among merchants and services, and in that sense, Litecoin could be said to be more successful than Bitcoin.
That said, Bitcoin is better as a store of value than Litecoin, and the chances of Litecoin beating Bitcoin in that capacity are slim.
Litecoin Vs Bitcoin Cash
Litecoin and Bitcoin Cash have an array of similarities and, depending on who you speak to, one can be said to be better than the other.
Both are attempts to be better versions of Bitcoin but in different ways.
Bitcoin Cash in many ways is not too different from Bitcoin itself. Its primary difference is that it has blocks 32 times larger. This allows it to process more transactions quicker and lowers fees.
Aside from market cap and a few other small features, Litecoin’s primary difference from Bitcoin and Bitcoin Cash is its hashing algorithm ‘Scrypt.
While both proof of work algorithms, Scrypt is believed to be better than Bitcoin Cash’s SHA-256 algorithm because it doesn’t require such a high hash rate, making it more energy-efficient.
That said, Scrypt is supposedly more memory intensive than SHA-256, so one is not completely clearly better than the other.
Both aim to be transactional cryptocurrencies but at times struggle to remain relevant in an ever-changing cryptocurrency market. However, BCH and LTC are two of the most accepted cryptos by merchants today.
Why Is Litecoin Going Up?
The bull market of last year was the primary factor behind Litecoin’s rise in price, but upgrades and partnerships have also contributed hugely.
You can check out Litecoin’s latest releases on GitHub where they announce what they have improved on or added.
Litecoin is also increasingly available on online payment services like PayPal and Revolut, increasing regular people’s access to it.
But perhaps the most important, underlying reason why Litecoin is going up is that slowly, more and more people are buying into Litecoin, and more merchants are accepting it.
Read More: 15 Reasons Why You Should Invest in Litecoin
How Much Will Litecoin Be Worth?
Being one of the most traded coins in terms of market cap, you may ask “How much will Litecoin be worth?”
Despite the consolidation process that LTC has been facing lately - with prices nowhere near as impressive as during the crypto bubble hype a few years ago - a bullish trend is expected. Experts predict that Litecoin may reach new highs in the years to come.
Litecoin, as stated above, exhibits higher lows and positive momentum and sentiment; as indicated by the MACD (Moving Average Convergence/Divergence) indicator, a bullish outbreak may happen soon.
If this bullish outbreak occurs, LTC could increase by a massive margin.
According to Walletinvestor, Litecoin price could reach between $64 and $110 by the end of 2023.
According to Cryptoground, LTC will be trading at $422 in five years.
What Will Litecoin Be Worth In 2025?
$671 by December 2025 according to Cryptocurrency Price Prediction, at the highest, or $90 according to The Economy Forecast Agency. So, as you can see, forecasts for 2025 differ significantly.
Most price forecasters seem to believe that in 2025, Litecoin will be somewhere between $90 and $500.
DigitalCoin estimates Litecoin will reach $168 in 2025 at the highest.
Elsewhere, Coin Price Forecast is more conservative and estimates $89 at the end of 2025, which is still an increase of +46%.
Gov Capital is more bullish, believing $500 is possible by the end of 2025.
What Will Litecoin Be Worth in 2030?
Price predictions for Litecoin in 2030 range from $1,458 at the highest by Cryptocurrency Price Prediction, and $148 by Coin Price Forecast, almost 10 times lower.
So, as you can see, it is pretty hard to predict how much Litecoin will be worth in nine years. By 2030, the crypto market will probably look completely different, and no one knows what could happen.
That’s why you shouldn’t count on such predictions!
Don't Miss: What Will Litecoin Be Worth In 10 Years?
Will Litecoin Ever Hit $1,000?
Yes, Litecoin could possibly hit $1,000. Cryptocurrency Price Prediction believes it could happen as early as January 2030, but no one knows for sure.
Elsewhere, Gov Capital thinks it could happen by the end of 2027, but most other price forecasters do not foresee Litecoin reaching $1,000 in the near future.
How High Will Litecoin Go?
The highest prediction for Litecoin is $1,458 by December 2030 by Cryptocurrency Price Prediction.
It should also be noted that some price forecasters actually expect Litecoin to decline in price or stay more or less the same. For example, Walletinvestor believes that Litecoin will be worth a high of only $100 in 2024.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
What Will Affect LTC In 2023 And Beyond?
Though price predictions remain speculative, different factors affect cryptocurrency and LTC investing, including technology, demand and supply, regulations, and market sentiment.
One of the most influential factors is Litecoin’s relationship with Bitcoin. As one of the first cryptos to integrate SegWit, LTC is often viewed as a testbed for BTC.
Here we should note that SegWit is a technology that aims to split transactions into two segments and add the unlocking signature as another structure to improve efficiency.
Removing signature data from transactions means there will be more space in blocks for transactions, and so more can be validated at once, speeding up transaction times.
So, if investors bet on the tech-based future of Litecoin, then prices can increase further and even help LTC end up becoming one of the premier cryptos.
To provide an example, many financial institutions have already adopted LTC. The Litecoin Foundation has acquired 9.9% of Germany’s WEG Bank to help LTC become a part of mainstream banking, bridging the gap between crypto and traditional finance.
Gaming giant Atari also partnered with LTC in May 2020. And as we know, blockchain technology is the future of gaming!
On top of that, Litecoin can be sent and received via WhatsApp using the Lite.IM bot, which can enhance mass adoption.
But there are negatives to look out for too.
In 2018 Recorded Future noted Litecoin had become the criminals crypto of choice on the dark web, primarily because Bitcoin had become too expensive.
Their analysis suggested that up to 30% of illegal vendors operating on the dark web accepted Litecoin. This hasn’t helped Litecoin’s image.
However, although Litecoin has been used on the Dark Web, now more than ever legitimate stores are accepting LTC as legal tender.
When Is Litecoin Halving?
The next Litecoin halvening is expected to take place on the 6th August 2023, based on the fact that the previous halvening took place on the 5th August 2019, according to Emily Perryman.
Just like Bitcoin, Litecoin also goes through a halvening (or halving) every four years. However, the two do not halve at the same time.
Litecoin’s next halvening in 2023 will reduce the reward per mined block from 12.5 LTC to 6.25 LTC.
Halvenings add an element of scarcity to Litecoin. By reducing the reward per block, the number of new coins introduced is lowered.
With a smaller supply of Litecoin, the price may increase (if there is still a demand for Litecoin).
It should also be noted that halvenings do not always instantaneously affect the price of a coin.
Does Litecoin Have A Future?
Litecoin certainly does have a future as people continue to find new ways to use and trade the coin. And with upgrades around the corner, we will likely see a lot more of Litecoin in the coming years.
In June 2021, digital investing asset firm CoinShares announced that the Deutsche Boerse Xetra exchange would list their physically-backed Bitcoin, Litecoin and Ether ETPs (Exchange Traded Product).
This bold move will allow many more people to trade Litecoin than ever before and may start a trend where traditional exchanges start to offer Litecoin in new ways.
Meanwhile, Charlie Lee also announced that two major upgrades were coming to Litecoin very soon that will impact fungibility and privacy, according to The Daily Hodl.
Lee explained that both Litecoin and Bitcoin have fungibility and privacy issues because each coin carries with it additional personal information from the wallet it came from.
This is not good for financial privacy because it can expose how much Litecoin you received from someone. For example, if someone paid you $10k in Litecoin, this information will be visible.
And it may also impact the value of one coin in comparison to another, which ideally shouldn’t be the case.
For Litecoin to offer more privacy and fungibility, Lee says they will implement a new technology called MWEB, which stands for MimbleWimble Extension Blocks.
But there are still some who believe that Litecoin’s future is not good. Biraajmaan Tamuly of AMB Crypto points out several reasons.
He points out that Litecoin is losing its relevance and is finding it hard to compete against new coins like Chainlink and Polkadot that have brought a lot more functionality.
Tamuly also points out that although 2021 was good for Litecoin, it wasn't able to break new highs twice as Bitcoin and Ethereum did.
And perhaps the most concerning find Tamuly uncovers is how little the Litecoin team has committed to GitHub in comparison to other cryptocurrencies.
While Bitcoin has 61K GitHub repositories and Ethereum has 56K, Litecoin only has 2K! Suggesting that not very much is happening with Litecoin.
Read Also: Could Litecoin Be A Millionaire-Maker Coin?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Should I Invest in LTC?
With different advantages of LTC over BTC, such as shorter block generation times, digital scarcity, and low transaction fees (reduced from 0.001 to 0.0001 LTC/kb), investing in Litecoin can be a good investment for you.
That said, cryptos are highly volatile and investing in LTC can be risky, especially during times of turmoil.
On top of that, there is always a risk of massive piracy of wallets, so you may risk all your LTC without the possibility of returning them.
But here’s a tidbit: investing in LTC doesn’t have to be complicated. All you have to do is to do your research and decide for yourself if possible rewards outweigh potential risks.
While nobody knows what the global economy will look like after the pandemic, investing in LTC could generate high returns in the years to come.
Who Should Consider Adding Litecoin To Their Portfolios In 2023?
Because of the potential of LTC as an investment in 2023, more and more beginners and experienced investors are willing to add Litecoin to their portfolios.
In fact, according to data, Litecoin has approximately 234,640 active addresses, with more than 138,659 transactions every 24 hours, according to BitInfoCharts.
Investing in LTC is a great option for:
- Cryptocurrency day traders: With a large 24-hour trading volume LTC is a desired asset among cryptocurrency day traders who believe in LTC in the short term.
- Crypto investors: Based on the long-term potential of Litecoin, investing in LTC is an attractive option for investors and even crypto whales.
- Blockchain enthusiasts: With its strong development team, LTC is favoured by many blockchain enthusiasts who believe that the use of blockchain technology may reshape the future of decentralised finance.
- Financial institutions and merchants: As stated above, more and more big institutions and retailers are partnering with Litecoin to bridge the gap between cryptocurrencies and real-life settings.
Last but not least, investing in LTC is a clever way to diversify your portfolio, which is a great technique to reduce financial risks by investing in different assets.
Ready to invest in Litecoin?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Final Words: Is It Worth Investing In Litecoin?
With its impressive technology, obvious relation to Bitcoin, and growth potential, we can conclude that LTC is here to stay long after 2023.
While it’s up to you to decide if you should invest in LTC in 2023, let’s not forget that some experts believe it may reach new highs and even hit $1,000 in the near future.
Now when you know more about LTC, you can decide for yourself if investing in LTC is worth it.
Can I Sell Litecoin?
You can sell Litecoin whenever you want, there are no technical reasons that could block you.
There are no reasons why you shouldn’t be able to sell your Litecoin unless you live in a country where it may be illegal. In which case it would be best that you consult a lawyer before you do anything with it.
Before you sell your Litecoin, be sure to also check if there are any tax laws you need to adhere to.
In some countries after owning Litecoin for a certain number of years, you need to pay a tax, and you may also have to pay a tax if you make a profit from selling Litecoin too.
It’s much wiser to just pay off your taxes than risk losing all your gains!
Can I Cash Out Litecoin?
To cash out your Litecoin you need to sell it for your chosen fiat currency via an exchange or with a broker.
For example, if you wanted to sell Litecoin for the US dollar, you would need to look for the ‘LTC/USD’ pair. That means you are buying US dollars with your Litecoin. If you reverse the two (USD/LTC), you are buying Litecoin with the US dollar.
You can cash out of Litecoin whenever you want. You have no obligation to keep it. Preferably though, it would be best to cash out of Litecoin when the price is high.
How To Trade Litecoin
Many Litecoin holders are holding LTC for the long-term as this is often seen as the best way to make big returns. It also rules out stressing over minor ups and downs in the price.
The 1-2% rule is a wise one to stick to when trading any asset and is used by many experienced traders.
It dictates that you only risk 1-2% of your funds for trading on any trade. For example, if you have $100, only risk $1-2 per trade.
By doing this, you reduce your risk because if you lose a small amount like this, it will likely not frustrate you too much. But if you make money from it, you will still be happy. Furthermore, it allows you to compound your funds.
If you stress out a lot over the price of LTC, it probably means you have bought more than you can afford.
You should be able to buy LTC and not have to think about it very often and sell it when you think the time is right. It shouldn’t interfere with your life.
Holding long-term pays off for many traders because, generally speaking, LTC has gone up in the long term. Sure, there are dips and peaks on the way that you could have traded, but Litecoin is still on the up overall.
According to CoinMarketCap, Litecoin has made traders a 1,312% ROI, despite falling after the 2021 bull run.
Ideally, you want an uptrend, and it looks like Litecoin is still on an uptrend.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Key Points
If you remember anything from What Is Litecoin And Is It Worth Investing In LTC In 2023? make it these key points.
- Litecoin is one of the top 20 cryptos by market cap, according to CoinMarketCap.
- Litecoin is a decentralised peer-to-peer network that allows the execution of cross-border transactions and everyday purchases.
- LTC is the ticker symbol of Litecoin.
- One LTC currently trades at $60
- Based on technical and fundamental analysis data, LTC might become a profitable investment far beyond 2023.
- Many experts believe that LTC will continue to grow and some even think it could hit $1,000 in the years to come.
- Its relation to BTC, strong development, and digital scarcity make Litecoin an attractive investment for day traders, investors, everyday users, and blockchain enthusiasts alike.
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FAQs
Still have questions about Litecoin? Maybe these frequently asked questions will help!
Is It Smart To Invest In Litecoin?
Yes, experts claim it is smart to invest in Litecoin now. Based on different technical signals and fundamentals, Litecoin could likely enter a bullish uptrend.
Given the substantial ROI that Litecoin might generate in the years to come, exposing yourself to LTC investing is smart. That said, never underestimate the volatility of the crypto market.
How Many Litecoins Are Left?
12,411,493.77 based on the fact that there is a total supply of 84,000,000 LTC that will ever exist and 71,588,506.23 have already been mined.
The last Litecoins are expected to be mined somewhere between 2050 and one hundred years from now.
Could Litecoin Be A Better Investment Than Bitcoin In 2023?
Though Litecoin is often compared to Bitcoin, in technical terms Litecoin has faster transaction times and lower fees to buy and sell LTC, which can make it a better investment in 2023.
That said, Bitcoin still ranks 1st in terms of adoption and market cap.
Where Is Litecoin Accepted?
With the Litecoin Card - a Visa debit card that converts Litecoin into fiat currency when making payments - Litecoin can be accepted anywhere that accepts Visa.
Some of the top merchants that accept Litecoin payments directly include Travala, eGifter, RE/MAX, Coaex, UnlockBase, Snel, and CryptoGames, according to NOWPayments.
Many of these services operate in air travel, hospitality, real estate, investing, gift cards, web hosting, and gambling.
It is also worth noting that Litecoin is one of the most accepted cryptocurrencies. This is primarily because it has been around longer than most other cryptos and is cheap to use.
In the last few years, PayPal and Revolut have also moved into allowing people to store and make transactions with Litecoin.
When Was Litecoin Created?
7th October 2011 was when Litecoin was created, almost 10 years ago. This makes Litecoin one of the longest-running altcoins.
Can Litecoin Be Traced?
Yes, blocks, transactions and LTC addresses can be traced on insight.litecore. However, with MimbleWimble, transactions can be sent without revealing value or ownership.
What Is Litecoin’s All-Time High?
Litecoin reached an all-time high of $412.96 on the 10th of May 2021, according to CoinMarketCap.
Will Litecoin Survive?
Yes, if anything Litecoin is a survivor. With almost 10 years, Litecoin is one of the oldest cryptocurrencies around and has managed to remain in the top 20.
Though many other cryptocurrencies have risen to outpace Litecoin with new ideas, Litecoin, like much of the cryptocurrency market, has probably not reached its full potential.
And as we have shown throughout this article, Litecoin is still being actively developed and the ways in which people can access it are increasing.
How Do I Buy Litecoin Anonymously?
With the implementation of MimbleWimble, it will become easier to buy Litecoin anonymously as it will hide ownership.
According to Ofir Beigel 99Bitcoins, probably the best way to get hold of Litecoin anonymously would be to first buy Bitcoin anonymously then trade that Bitcoin for Litecoin via an exchange.
How Long Does It Take To Mine 1 Litecoin?
45 days according to Ian MacPhee of 99Bitcoins, if you use the L3++ with a difficulty factor of 13,667,659.27727.