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.
— Tuur Demeester (@TuurDemeester) March 28, 2018
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.
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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
Reasons Why 2019 May Be A Great Year For Crypto
The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.
The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.
With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.
1) Bearish market to loosen its grip
The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…
3 Coins with the Largest Potential in 2019
2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
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Do or Die: 3 Crypto Projects that Really Need to Deliver Soon
Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.
The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.
However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.
1) Ethereum (ETH)
Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…
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