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LiteCoin (LTC): LitePay Is Not Going To Happen

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Even if you are not a LiteCoin holder, you have probably noticed that not only your currency of choice was going down with the market dip – other currencies fell down in price as well, due to the “misbehaving” of the current market demand. Although there are millions and millions of crypto enthusiasts, the market has been going downwards for months now, with an occasional rise or two only the lucky coins were entitled to. Relying on luck when it comes to investing isn’t that easy, so you can definitely feel the tension growing among the majority of crypto enthusiasts.

Another tension broke out a couple of days ago when LiteCoin announced that their digital product, which was a part of a promising breakthrough for this currency, LitePay, was announced to be delayed indefinitely. How come LitePay is not going to happen and what can we expect from LiteCoin further from this point?

LiteCoin: LitePay is not going to Happen (Yet)

LitePay was announced to be released first around the end of February 2018, then was rescheduled for launching at the beginning of March. However, all LiteCoin users that have taken time to apply for LitePay by pre-registering have gotten interesting, although a disappointing email from LiteCoin development team in charge of LitePay project.

The email stated that LitePay was delayed for indefinitely. That means that LitePay may never happen, at least not in the near future.

LitePay was supposed to represent an easy way to make transactions anywhere in the world at the tip of your finger – easy, simple and with only a couple of clicks away. LitePay project was also planned to have LitePay Debit Cards, similar to those MasterCard and Visa are issuing. So, with LitePay, you would be able to make transactions easily anywhere in the world while also being able to send LiteCoin units from any wallet to the LitePay Debit Card.

LitePay Debit Card should have worked in a way to automatically exchange LTC to any currency, depending on which ATM you are using, where these cards would be accepted anywhere in the world where Visa and MasterCard are normally accepted.

However, this is not going to happen, at least not in the near future. The greatest problem for LTC is that the announcement of LitePay has brought this currency a series of more than several price boosts on the crypto market, so thanks to LitePay, LTC has managed to jump up to trading at over 233$ per one unit after the announcement of LitePay launching.

But, as it would be expected, as soon as LitePay was announced to be delayed indefinitely, the price of LTC started to drop.

The price soon fell from dealing at 233$ per one unit to dealing at 209$ per one coin, while it soon fell under 200$. At the current moment, LTC is trading in the red and is far from the price of around 233$.

LiteCoin: Why LitePay Had to Retreat?

The reason for having to say NO to LitePay, for now, is the sad fact that the developers behind LitePay and LiteCoin couldn’t find anyone to issue their cards for them as card service providers like Visa or MasterCard are not as friendly towards cryptocurrencies as investors and holders are.

That means that LitePay is impossible to make happen at the current moment because card service providers are not interested in partnering up with cryptocurrencies or in this case with LiteCoin. So, that is how LitePay ended unsupported and delayed possibly for forever because they weren’t able to grab attention and capture the interest of any of the card service providers that would propel their project.

That is how poor LTC started to drop in price, slowly giving into the black wave of the dipping crypto market that has been going downwards for months now.

However, if LiteCoin manages to come up with another solution that would enable LitePay to commercially exist without having to use cards; the problem would be, without any doubt, solved.

How is LiteCoin doing at The Current Moment?

LiteCoin was doing great after the announcement of LitePay launching where this currency started to deal at around 233$ per one unit, but eventually, when LitePay was announced to be delayed for indefinitely, the price consequently started to drop.

The aftermath price was done hovering around 209$ per one unit, but it soon fell below 200$ as everyone wanted to get away from the “sinking ship” and see what they can earn along the way, so it is supposed that the price continued to drop further because many holders wanted to make profit from the most recent rises in the price.

We will be updating our subscribers as soon as we know more. For the latest on LTC, sign up below!

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

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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