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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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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