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Bitcoin (BTC) and Litecoin (LTC) adoption on the rise

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A famous New Jersey-based Italian eatery, Pompton Lakes, has opened its arms for Bitcoin and Litecoin payments.

When it comes to virtual currencies, many crypto pundits agree for these virtual assets to gain and appreciate, they need to be adopted and be put in use in the way they were designed to, and that is in transactions and exchange of coinage.

While this might not be the case for all digital currencies, some of the renowned virtual tokens like Bitcoin were originally considered as a means to transact between entities with the added advantage of convenience and privacy.

Sadly, even if virtual currency holders were willing to spend their digital assets on transfers and purchases, they would not find many appropriate occasions for doing so. That is why the latest news of an eatery starting to allow payments to be made in cryptocurrency is big news that is worth noting for investors.

Obviously, if more merchants and traders accept and adopt this mode of payment as an alternative to traditional modes of payment, the prices of Bitcoin, Litecoin, and virtual currencies in general, would be supported by real significant values.

Pompton Lakes Eatery Accepts Cryptocurrency Payments

Monica’s Restaurant is old but modern wine and dines eatery joint that is situated on Lakeside Avenue in Pompton Lakes in New Jersey. Recently, the Italian Restaurant came out to announce to the public that they now allow their clients to pay for their meals in virtual currencies as an alternative to fiat currencies.

Monica’s Restaurant sees this move as a marketing strategy that would entice a younger generation of customers to come and dine in their establishment. Patrons can now pay for their dishes in Bitcoin and Litecoin.

Irrespective of virtual currencies becoming far-reaching in the last few years, it is still the youthful tech-savvy generation who are mostly involved with these digital assets. An Italian eatery accepting payments in digital currencies such as Bitcoin and Litecoin could be too cool to miss checking it out for patrons who are into cryptocurrency.

Questions like, how will it work, is it for real? – are the type of questions that the restaurant is counting on to increase the flow of customers to their premises. Atila Ajdinovski, the owner and founder of the eatery mentioned:

“Right now, our clientele comprises of an older age group. We hope that by accepting cryptocurrency, it will bring in the younger crowd”

Are Cryptocurrency Payments the Future?

According to a high representative of payment processing firm Nationwide Merchant Solution, Jon Moore, Monica’s Restaurant is currently among the 20 New Jersey establishments that he has assisted in embracing virtual currency. Nationwide Merchant Solution is a payment processing company that helps customers in New Jersey to accept payments in virtual currencies.

At the moment, Jon has assisted more than 20 businesses in implementing cryptocurrency as a mode of payment in their businesses. According to Jon, many of these businesses that have adopted cryptocurrency operate in the e-commerce industry. He believes having an eatery accepting payments in Bitcoin and Litecoin is especially thrilling for crypto followers as it will bring attention to the virtual currencies from a new block of people.

Originally, e-commerce businesses offer cryptocurrency mode of payments to their customers who already know about cryptocurrency. However, restaurants, on the other hand, are displaying this information publicly for all visitors to see and get the news. This is helping in spreading cryptocurrency’s popularity and adoption process to the general public.

How to Pay for Food Using Bitcoin or Litecoin

The process of paying using virtual currencies in Monica’s restaurant is simple and easy to understand as it entails transferring digital money from one wallet to another. What happens is Monica’s restaurant displays a QR code to its patrons, who are given the option to scan the code and effect the payment. After completing the process, the restaurant is alerted of a Bitcoin or Litecoin payment that has been transferred into their respective wallet immediately, rendering the payment process complete.

The use of cryptocurrency is quickly gaining pace as a viable mode of payment in New Jersey and around the world. It is a mode of payment worth trying out (and sticking to).

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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