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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

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Why Binance May Be Crucial for Tron (Trx) to Reach $1

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TRON (TRX) has been one of the most popular crypto projects in the past year. The coin has received a lot of attention from the entire crypto community, and although the impressions may differ —  the fact is that TRX is one of the most talked-about coins, even today.

However, while the project managed to achieve a lot in less than a year — launch its MainNet, start multiple massive projects, launch dozens of dApps, hundreds of smart contracts, its own DEX, new token, and more — its price remains quite low. Undoubtedly, one of the reasons for this is its massive supply. TRX circulating supply is over 66 billion coins, while the total supply is over 99 billion.

Even so, the coin is believed to be massively undervalued, with its current price sitting at $0.028129, according to TradingView. This price, together with a market cap of $1.88 billion, pushed the coin out of the list of top 10 largest cryptocurrencies, and it currently sits at 11th spot. But, many believe that this is not a permanent position for TRON. In fact, its community believes that it is only a matter of time before TRON rises through the ranks, and its price hits $1. And, the way for the coin to achieve this is believed to be through Binance.

TRON and Binance

Binance is one of the world’s…

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Why Tron (TRX) Price Won’t Remain Low for Long

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TRON (TRX) has been one of the most popular cryptocurrencies in recent years. The project has achieved a tremendous amount of success in less than a year, and while the first birthday of its MainNet is approaching, TRON certainly continues to impress to this day.

With that said, its price is still noticeably low, and many would agree that the project is heavily undervalued. The low price even allowed other projects to push it out of the top 10 list, with TRX currently being the 11th largest cryptocurrency by market cap. However, it is likely that TRON will not remain undervalued forever, and that its price might soon see a surge that its entire community has been waiting for, for a long time now.

Why TRX might see growth soon

As many undoubtedly know, TRON is a lot more than just a cryptocurrency. It has developed a massive ecosystem, which offers a development platform for coins, smart contracts, and dApps. It also acquired BitTorrent last year for its Project Atlas, which will allow torrent users to earn crypto through participation in content sharing.

For this purpose, it also launched BitTorrent (BTT) token, which saw its launch on January 28, 2019 on Binance Launchpad. This was dubbed the most successful ICO in history at the time, although several coins launched since then have broken its record.

In addition,…

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