Why use Litecoins?
Litecoins are the future of online transactions.
They are a good hedge if you want to sell Bitcoin without buying fiat currency such as USD or EUR but please keep in mind that both Bitcoin and Litecoin are only backed by the faith of their respective investors.
Litecoins are lightning fast and have quicker confirmations than Bitcoin. In fact, Litecoins are 4 times faster at their transaction time than Bitcoins.
Litecoins are a healthy competition to BTC. Litecoins attribute to an ecosystem of cryptocurrencies where the users have a choice to pick the best type of currency that fits their needs. [source
Litecoins are a great way to diversify your coins. If you keep all of your portfiolio under Bitcoins and something goes wrong your assets may be endangered.
Litecoins are harder to be centralized from being mined with scrypt instead of SHA256, but they serve the same purpose and function as Bitcoin. There will be 4 times as many Litecoins in circulation as Bitcoin after mining for coins is completed.