Connect with us

Blogs

Is Litecoin (LTC) Changing Its Game Plan By Going For Mass Adoption?

Published

on

Litecoin
READ LATER - DOWNLOAD THIS POST AS PDF

Litecoin seemed to be severely defeated a couple of weeks ago when this currency fell from its originally held spot as the fifth-best currency where it has been for quite some time, to the 6th spot on the global coin ranking list. This case just reminded the crypto community that tables are turning quickly in the world of new digital value, where EOS pulled a short end of the stick by replacing LTC as the fifth-best currency due to its increased market capitalization.

However, Litecoin is working on a great come back, as we can witness an increased activity in the marketing strategy of Charlie Lee and his team, as they are seemingly going for mass adoption of their coin. That is how Litecoin has shown some astonishing results in the past couple of days, while getting listed, acquiring partnerships and starting out with an interesting community project.

Litecoin and the New Community Project

The story about the mass adoption probably started off as a more obvious strategy adopted by LTC and its team when Litecoin tweeted about businesses accepting Litecoin. The tweet came on in a provoking connotation as the statement started with a call to action: “Does your business accept Litecoin?”

At the end of the statement, the LTC team invites all interested parties to message them in case they would like to get included in the new project set by Litecoin. Given the fact that the tweet is openly calling for the mass adoption of LTC, we can easily conclude that the new community project is revolving around having small and medium businesses offering LTC as a payment method in exchange for their products and services.

The details on this project are still not officially shared by the Litecoin team, but it isn’t hard to guess that the team on the head with Charlie Lee is on the “hunt” for business holders who would be willing to participate in the mass adoption of LTC.

Whichever the case, the community project that was mentioned only 24 hours ago, on April 26th, already sounds promising for LTC that is struggling to get back on the track after it has been pushed down to the 6th spot on the global coin ranking list.

Litecoin to be Produced by Wirex

Another one of Litecoin’s noted steps towards getting LTC massively adopted is having this currency produced by Wirex.

Wirex is actually connected to all major Visa debit cards; however, in addition to dealing with Visa, Wirex also promotes the idea of using cryptos as a payment method. That is how Wirex had listed Bitcoin a while ago. As of the current events, Litecoin is going to be produced by Wirex as well, being the second crypto accepted by this wallet app, that way taking another step towards its strategy of having LTC globally accepted.

Wirex officials have given the statement that they have decided to add Litecoin to their wallet app because Litecoin has demonstrated its power over more traditionally used Bitcoin, which is way slower, less secure and more expensive than Litecoin even though it stands for the original and first coin ever to be created.

Litecoin and TenX Partnership

The partnership between Litecoin and TenX as announced two weeks ago, in a way came up as redemption for having failed at launching LitePay as it was originally supposed to happen in March of 2018.

After Litecoin failed to launch LitePay which was supposed to sky-rocket LTC and provide a crypto debit card for this currency, the announcement of TenX and LTC partnering up quickly lightened up the entire situation.

This is the case because TenX is planning on enabling debit card for Litecoin in the spirit of offering a switch solution for LitePay that just couldn’t happen when it was supposed to.

TenX wallet is available for iOS and Android, which adds a level of acceptance to Litecoin. TenX has also announced that they are definitely going to issue a Litecoin-powered debit card with great expectations out of this partnership.

The TenX team is hoping that their wallet platform is going to be a platform of choice for many LTC users and holders.

Litecoin Gets Accepted at WikiLeaks Shop

The official WikiLeaks Shop has announced that all LTC users and all WikiLeaks Merchandise customers will now be able to pay for their merch with Litecoin.

As Litecoin has now become officially accepted by another shop, it is more than obvious that Litecoin has a plan of getting massively accepted, and on a global level, which is just the thing this currency might need in order to acquire a chance of getting back to the top 5 trading coins in accordance with the global coin ranking list and as judged by the market capitalization.

How is Litecoin doing at the Current Moment?

Despite the shaky state of the market where the majority of currencies are going down for a couple of days now, Litecoin started to trade up today on April 26th. The currency started of its rebound against the state of the market with a humble percentage of growth that totaled 0.82% against the dollar.

After the latest change in the market, LTC unit can be bought at the price of 147.63$ at the time of this writing, on April 26th.

For the latest cryptocurrency news, join our Telegram!

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 roujo via Flickr

Blogs

How is the Crypto Market Changing?

Published

on

crypto market
READ LATER - DOWNLOAD THIS POST AS PDF

It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

Continue Reading

Blogs

Understanding the Uses of Different Types Of Cryptocurrencies

Published

on

cryptocurrencies
READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

Continue Reading

Blogs

New DoJ Ruling May Cripple Gambling dApps

Published

on

gambling dApps
READ LATER - DOWNLOAD THIS POST AS PDF

A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

Continue Reading

Elite