With cryptocurrencies being well on their way to becoming adopted and accepted, a lot of experts and analysts continue to compare them in hopes of finding the future champion among digital coins. The crypto market today remains as diverse as it can be. Some cryptos are full embodiment of the original concept, while others are hardly cryptocurrencies at all.
With so many coins to choose from, it is understandable why experts continue to struggle to find the right one. However, the more they explore and learn about different coins, the more they keep coming back to a few favorites. One of the biggest ones among them is Litecoin (LTC) itself, which is why we have decided to take a closer look at it as well. So, without further ado, here are the reasons why Litecoin is among the best coins around, and why it has more than decent chances to go big by the end of the year.
1) Litecoin is decentralized
Decentralization is one of the biggest reasons why cryptos were invented in the first place. As such, every coin out there claims full decentralization, even though that is not completely true in some cases. However, when it comes to LTC, its decentralization is a well-established fact. The coin’s founder, Charlie Lee, has absolutely no control over Litecoin’s price or potential.
While he openly regretted his decision to sell his stake in the coin, he still claims that this decision was done for the greater good.
2) Litecoin offers a debit card
Through Litecoin’s partnership with Wirex, the coin managed to get its hands on its own debit card. The users can use the card for online sales and purchases, and in time, this might also be true for offline payments. Wirex confirmed this itself, and it even declared that LTC is better than Bitcoin (BTC) itself. Their website states that Litecoin is faster, cheaper, and may even become a new favorite global payment option in several months time.
3) Coinbase increased awareness by adding it
We all know that Coinbase has always been rather picky when it comes to adding support for cryptos on their list. Despite the fact that the exchange has been trying hard to change this recently, we should still remember that there was a time when Litecoin was one of only three coins offered by this exchange.
This has caused many to develop an interest in this coin, and it even allowed its price to go up at the time. If the coin is good enough for Coinbase to trust in it, it is good enough for everyone else.
4) LTC has a great network
The network behind a cryptocurrency is just as important as crypto’s price. While many tend to forget this, the largest investors are sure to keep it in mind. Litecoin has an excellent network that can handle more TPS than the majority of other cryptos. The rise in a number of transactions continues to grow as the network continues its development, while the transaction fees continue to drop.
5) Lower price volatility
While it is true that Litecoin’s value has experienced a significant drop at the beginning of the year, there is not a single crypto that can say that it did not suffer massive losses when the bear market arrived. However, since then, LTC experienced much smaller price fluctuations than many other coins in the top 10.
The fact is that its price is currently only $57.59, but we should remember that the market has remained bearish for eight months now. Obviously, Litecoin has suffered losses as well, but it held its ground more than decently when compared to some other cryptos.
Obviously, Litecoin is not perfect. However, it is definitely working on improving itself at all times. It is a reputable coin, with a great network, cheap transactions, and excellent speeds. It entered numerous partnerships so far, and it confirmed that it can be trusted.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Blockchain-Focused ETF Arrives on London Stock Exchange
The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.
While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.
The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.
Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.
However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.
Bitcoin as a divorce tool?
In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.
However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…
Three Biggest Things To Know Come Cryptocurrency Tax Season
In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.
These three tips should help anyone looking to legally report their crypto activity to figure out where to start.
Documentation is key!
There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting. Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.
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