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Bittrex instigates both Litecoin (LTC) and Tron (TRX) into the USD markets

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In massive news for the cryptocurrency community, Bittrex has launched USD markets for two of the most popular cryptocurrencies in the world, Tron (TRX) and Litecoin (LTC). This comes only a week after the cryptocurrency exchange platform announced that they would list the coins.

For those who are unaware, Bittrex is one of the world’s leading cryptocurrency exchange platforms, and boasts a daily volume of tens of millions of dollars, with almost 200 cryptocurrency pairs available for investors and traders globally. Bittrex announced the move on Twitter and clarified that the accounts had to have been created before September 4, even to be eligible to qualify.

This is great news for cryptocurrencies who are concerned about one cryptocurrency dominating the other, as now investors and traders can directly exchange USD for 10 cryptocurrencies. These include bitcoin (BTC) and ethereum (ETC) obviously, but also includes popular cryptocurrencies such as Cardano (ADA), XRP, ZCash, Ethereum Classic, and more.

This also is a significant milestone for Tron in particular, as this is the first time that Tron has been paired with the USD in the United States, which was celebrated by the founder of the Tron Foundation, Justin Sun, in a tweet.

However, it should be noted that these markets are not merely available to everyone. Actually, it can only be accessed for personal and corporate accounts. As if that wasn’t exclusive enough, the ones who benefit from the market are international investors. In the United States, the only ones allowed to participate must live in the following states:

  • Montana
  • California
  • Washington
  • Puerto Rico
  • Arizona
  • Arkansas
  • New Mexico
  • North Dakota
  • Massachusetts
  • California
  • Colorado
  • Iowa
  • Kentucky
  • New York
  • West Virginia
  • Corporate customers operating in Pennsylvania
  • Missouri
  • Montana
  • Utah
  • Washington State
  • Wisconsin

Customers will also be required to fill out a form, and get approved by the Bittrex, before trading the pairs. While the entire process might not be the most convenient, it does mean that an important milestone was reached for Bittrex as a whole, and that more people will potentially be participating in the market, and that cryptocurrency dominance will be affected, on some level.

Also, there are two separate services available: “USD trading” and “USD trading, deposits, withdrawals.” This allows the customer to customize the service to their specific needs.

While the initial inconvenience might deter many in the market, the idea is that Bittrex adapts to the market overall and provides more options when it comes to investors and traders who might want to purchase a particular cryptocurrency directly, rather than through bitcoin and/or ethereum.

This comes at a much-needed time for both Tron and Litecoin, which are trading well below their all-time highs.

For context, Litecoin is trading at a little over $50, with its all-time-high at over $375, and Tron (TRX) currently trades at less than two cents, with its all-time high at around 30 cents.

Their market caps hover at around 3 billion and 1 billion, respectively. This is great news for both projects, and will likely mean an increased amount of volume for both Tron and Litecoin, although time will tell whether this leads to a substantial price increase.

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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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by SpaceX on Unsplash

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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