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Litecoin (LTC): A radiography for everyone interested in cryptocurrency

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How much do you really know about cryptocurrencies in the market, honestly? This is an important question because many coins have a particular purpose and you can only asses their value if you can judge whether they’re delivering on their purpose or not. This is true of Litecoin (LTC) as much as of any other asset so let’s delve into it a little in this article. That can give you confidence in the way you are managing your digital assets, especially Litecoin.

LTC 101

Litecoin (LTC) got created by Charlie Lee. Mr. Lee who was a software engineer at Google and Engineering Director at Coinbase so his credentials are immaculate when it comes to either computer science or cryptography. LTC is used for direct transactions between individuals or businesses without any third-party intervention (such as a bank). Exchanging Litecoins is no harder than sending emails.

This currency is known as Bitcoin’s little brother or as Bitcoin silver (the original Bitcoin being gold). Why is it called Litecoin? Because it’s Bitcoin, exactly, only lighter in terms of the mining power it requires.

What is Litecoin’s purpose?

Just as it’s with Bitcoin, Litecoin gives you total control over your wealth. When was the last time you tried to withdraw $10000 in cash? Maybe you haven’t but if you tried (and could) your bank would either deny it or make you jump through hoops. You’d be reported to fiscal authorities at least.

Why should that be so? Isn’t it your money in the end? Yes, but the bank imposes daily, weekly and monthly maximums for the cash you can withdraw. Also, you can’t spend as much as you want daily, only as much as your bank allows. If you want to spend or withdraw more you have to ask for your bank’s permission and give them a very good reason.

The thing is: it’s your money. You’ve worked hard for it. So why can the bank tell you how much you can spend per day, week or month? Besides, the bank charges you for transactions, and it charges you commissions every month because they’re keeping your savings “safe” for you.

Bitcoin and Litecoin remove this problem. You don’t need to ask them for permission. If you have the coins, you can spend them anytime you want in any amount you want. The Litecoin system gives you full control of your assets without any red tape to cut. Is it reliable and secure? Of course, it is, that’s the point in the blockchain.

Is Litecoin better than Bitcoin?

In order to answer this question, we must first explain the difference between both coins.

We start with speed and cost. A Litecoin transfer costs about $0.05 and takes 2.5 minutes to be settled at max. Bitcoin takes 10 minutes (if you’re lucky, it can be up to an hour) and is ten times more expensive.

Is that much of a difference from $0.5 to $0.05? Maybe not, but that’s not the only factor. But if you’re using either coin to transfer sums as small as five USD why should you pay and wait more time if you could do it quicker and cheaper?

Litecoin is indeed better because of costs and transaction speeds. Bitcoin is still and will remain, the mother of all coins, so it pays to be in Bitcoin. The fact remains that many other tokens are cheaper and faster than Bitcoin and Litecoin (think Cardano, Tron, XRP, XLM, among others) but they’re not as famous.

So what’s with all this interest in Litecoin, anyway?

Bitcoin is considered to be a way to store wealth, and Litecoin too. But hedging your bets is always a good idea. As they say, don’t put all your eggs in a single basket.

Litecoin is now the world’s seventh digital asset in terms of market capitalization at $3,197,008,940. It’s a far cry from Bitcoin to be sure. But it’s still one of the most solid options you can find in the cryptosphere.

What’s next for Litecoin?

There’s further development in Litecoin’s plans. Next comes the implementation of “confidential transactions” which means that the transaction’s amount will be available only to the sender and the receiver. Nobody else will be able to figure it out because “Litecoin values these personal liberties and putting you in complete control of your money”.

We hope you understand the Litecoin project in a better way now, but if you are still interested in getting some more details, and see the live official updates from the Litecoin team, you can always download the Totem app at Google’s play store.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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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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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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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