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Crypto Wallet Called Wirex Now Accepts Litecoin (LTC)

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Just today, Wirex released a new announcement in which it states that LTC (Litecoin) will now officially be added to the wallet. This puts Litecoin among the first altcoins to be accepted by the Wirex’s wallet app.

Thanks to Wirex’s connection to many virtual, as well as physical Visa debit cards, both Litecoin (LTC) and Bitcoin (BTC) will now be officially supported.

Litecoin enters Wirex

According to the statement given by Wirex, they decided to add Litecoin to their wallet due to the fact that it is faster than Bitcoin. Another reason is that it has significantly lower blockchain fees. Because of this, it is believed that LTC might become the next payment option accepted around the world, and available on various websites belonging to big brands.

Thanks to this new development, users of the wallet will now be able to convert tokens into several different currencies in an instant. This includes GBP (British Pound), USD (US Dollar), as well as EUR (Euro). After that, all that remains is spending the money via the Wirex Visa Card.

Additionally, Litecoin can also be transferred to the account via bank transfers, which is very safe and easy to do. There is also the ability to cash out ICO profits with ease, simply by using Litecoin to make the exchange. The exchange can be done with Bitcoin as well.

Wirex had troubles previously

Earlier this year, in January, Wirex started working with Wavecrest, which is a digital prepaid payment solutions partner. This partnership did not live long, however, due to the fact that Visa ordered Wavecrest to immediately end all of their Visa cards.

This was done because Visa decided to stop all cards that deal in cryptos. The reason was an incident in Europe that had their operating regulations violated, which caused the company to worry about the future of conducting their business.

Because of that, Wirex was forced to start considering alternatives that can replace Visa’s services. They decided to issue new cards and made an additional effort so that the cards would not only support Bitcoin but Litecoin as well.

This is another positive step for Litecoin, but it is not the only one. Just earlier this month, LTC was also added to Korbit, a digital currency exchange based in South Korea. One of the market followers and crypto enthusiasts, Barry Robins, stated that this is a great development. He understands that issues with Visa and Wavecrest must have had major consequences for everyone involved.

Because of this, Robins was glad to see that Litecoin was still added to the wallet, and has expressed his hope that other altcoins will join as well in due time. He believes that Litecoin is more than a decent competition to Bitcoin, which is why he, as well as many others, received this news with great optimism for the future of cryptocurrencies.

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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.

Image courtesy of BTC Keychain via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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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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Altcoins

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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