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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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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