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LiteCoin (LTC): LitePay Is Not Going To Happen

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Litecoin
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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

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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