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Litecoin (LTC) could cross $100 barrier soon, thanks to its recent hits

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Charlie Lee must be a delighted man. It’s been a fantastic week for Litecoin, and while we all keep talking about other cryptocurrencies and Litecoin slips under everybody’s radar, they are scoring incredible achievements that can take the token’s value all the way up to 100 USD and maybe even beyond.

Just look at this three outstanding achievements and keep in mind that they all happened within a single week:

The Litecoin Foundation acquired a 9.9% stake in Germany’s WEG Bank.

Last July 10th announced a strategic partnership that is nothing short of spectacular. In Charlie Lee’s own words:

“This partnership is a huge win-win for both Litecoin and Tokenpay. I’m looking forward to integrating Litecoin with the WEG Bank AG and all the various services it has to offer, to make it simple for anyone to buy and use Litecoin. I’m also excited about Litecoin’s support in Tokenpay’s decentralized exchange.”

Other announcements for new strategic partnerships announced along the week were:

  • Multisignature Transaction Engine
  • TPAY Cryptocurrency
  • eFin Decentralized Exchange (DEX)
  • WEG Bank FinTech Platform

All of the above will be using Litecoin’s blockchain technology to develop their blockchain initiatives. But owning a piece of a bank is the real story here. Litecoin didn’t buy the shares. They were TokenPay’s, and they gave it to the Litecoin foundation against the technology, expertise, and work of the LTC team and founding members.

It’s 9.9% only because that’s as high as you can go to Germany without running into the regulatory red tape. But TokenPay is still positioned to buy up to 70% of the bank, and they will remain a very close partner to Litecoin.

Let’s take a minute to think about what this means. Here we have a cryptocurrency that owns (at least partially) a real-life bank. Let’s face it. Nobody saw this coming; everybody expects banks to buy cryptocurrencies if they get involved in the cryptocurrency game at all. So this alone is a fantastic example of original thinking and bold strategic planning from Charlie Lee.

But that’s the least of it. The hardest obstacle any cryptocurrency has to overcome is to jump from a bunch of esoteric code running on a geek’s hardware into a real-life product that can solve real-life problems for real-life average people with no expertise in cryptography, programming, mathematics or IT. And this is precisely what this event can do for Litecoin.

Just imagine that now the Litecoin foundation can use its brand new bank to issue Litecoin-based credit and debit cards. That would allow all kinds of people from all over the world to rely on Litecoin for their daily financial needs. Without having internet service, without owning a digital wallet at all.

Can you imagine using Litecoin to buy your cigarettes, to pay for your groceries in any place in the world that takes Visa or Mastercard? Well, you can start now, it’s much closer than everybody thought.

If that kind of common financial technology becomes available through Litecoin, that will mean a huge boost in demand and new users who maybe won’t have the faintest idea they’re on a blockchain. And that will translate into market performance for Litecoin.

The Robinhood App adds Litecoin support.

The Robinhood App is a mobile phone application with an emphasis on ease of use and lack of transaction fees for cryptocurrency trading. It’s currently available in seventeen states in the US (with more to come). In this magical Litecoin week, the app announced it would include Litecoin among the coins available to its users. They also listed Bitcoin Cash.

The #PayWithLitecoin campaign keeps advancing, only now it looks real

Litecoin has been encouraging its users to use Litecoin in the real world. The campaign includes a Twitter hashtag. While nothing so revolutionary has happened with that, the fact is that it keeps moving forward and it seems to be working. This more moderate good news is still good news as using a coin begets demand and demand prompts performance.

So now you know. Litecoin has been doing great while we were all just looking the other way. Maybe we should not make that mistake again, especially when they reach the USD 100 mark.

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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.

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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