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Litecoin’s (LTC) Litepay Replacement, Crypterium (CRPT), Undergoing Beta Testing In Australia

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Litepay was meant to revolutionize the cryptocurrency industry by allowing for the use of crypto for regular purchases of goods and services. The service was meant to use Litecoin (LTC) as the backbone of the conversion from crypto to fiat resulting in a price rally of the coin before the indefinite cancellation in March. The project could not find a merchant to support the card services need for it to function. However, Litepay was not the only project working on solving the problem of how we can use cryptocurrencies for regular day to day purchases. Crypterium (CRPT) had already welcomed the challenge of doing so from as back as October last year.

The Crypterium App that is now available for your mobile phone (Android for now), turns your cryptocurrencies into money that you can spend as easily as cash. When fully active, the app will allow you to shop around the globe, make online purchases, pay your bills and even send money across borders. With the app, you will be able to get a virtual card that will even enable you to link to your Apple pay, Samsung Pay or even Android pay.

It is with this background that the App is undergoing Beta testing in the country and continent of Australia. The residents of Australia will be amongst the first to get access to the crypto-to-fiat payment solutions offered by Crypterium with bill payments being the first to be rolled out. Beginning May 10th, the Crypterium team has been selecting users in the country to use the Android version of the app. There is also a reward system for such lucky testers. The App will then be rolled out across the globe gradually by the team.

Also to add is that the Crypterium app is gearing up for a new update in a week. This update will include the addition of the Japanese yen and additional security measures. The App already has wallet capabilities for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Crypterium (CRPT); QR code payment capability; transaction history; and many more features.

The Crypterium (CRPT) token is the ‘fuel’ for these transactions and a fraction (0.5% of transaction) is burned with each payment made. This then reduces the circulating supply of CRPT, albeit very slowly. The token is currently trading at $0.80 and up 12.695 in the last 24 hours. It is currently available on HitBTC with more listings expected in the Summer. The project also got a major boost recently, when the former CEO of VISA in the UK, joined the team in a similar capacity.

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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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Understanding the Uses of Different Types Of Cryptocurrencies

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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…

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New DoJ Ruling May Cripple Gambling dApps

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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…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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