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Litecoin: The Emerging Dark Web Dominant Currency

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Dark Web
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Litecoin seems like entering into the deep waters of Dark Web, the network of websites accessible only by special software while the user stays untraceable or anonymous. Litecoin has suddenly become a priority for cybercriminals who work with the digital currencies in the unexplored dark surface of the internet (the dark web).

Over a long time now, use of cryptocurrencies has been taking place in these websites whereby the cybercriminals take advantage of Blockchain’s decentralized nature and perform their illicit activities.

According to a research done recently, it is evident that Litecoin is has become popular dramatically, almost taking the place that has always been reserved for bitcoin (but not yet though it is just behind bitcoin) on this dark web.

What does that mean for this digital coin (Litecoin)? A lot, for sure!

How come Litecoin is winning over bitcoin?

Litecoin transactions are cheaper and faster and now coin holders initially using bitcoin have turned to making their purchases using Litecoin on the dark web. Basically, there is an increased dissatisfaction by the cybercriminals on using bitcoin for payment. Bitcoin increased its payment fees as a result of an increased load on bitcoin around the world from mid-2017.

The transaction cost using bitcoin increased almost ten times going up by 30% of the least payment amounts. Similarly, the time period as well increased for the transactions to take place which has together made the cybercriminals to shift to another method of payment.

This situation has led to Litecoin emerging not necessarily as the number one (to go ahead of bitcoin) but it is getting very close to be the second.

Subsequently, Litecoin has an advanced technology as compared to bitcoin hence the transactions are carried out in a faster way. Not to forget that with Litecoin the number of coins that can be mined is higher. That is how Litecoin is gaining prevalence in the dark web and bitcoin is losing its value as we speak.

Other cryptocurrencies have as well found their use in this underground economy and they include Dash (DASH) and Monero (XMR). However, the choice of the type of token to use as a payment option differs greatly depending on the geographical location the criminals (or any other deep dark web user) are.  For instance, as per the recent research, criminals on Eastern Europe have mostly adopted the alternative methods of payment, unlike English-speaking communities.

Russians prefer the use of Litecoin as the English get deep into the use of Moreno termed for secure transactions. Eastern Europeans (roughly 35%) prefer Litecoin and 15% of the English prefer XMR.

Everyone is now asking the question, how will Litecoin be doing in the next months? Will it get past bitcoin? Let us just wait and see.

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 Anne Worner via Flickr

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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Altcoins

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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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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