Litecoin vs Bitcoin: Could Bitcoin be outshined by Litecoin soon?
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Litecoin vs Bitcoin: Could Bitcoin be outshined by Litecoin soon?

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When we talk about cryptocurrencies, it is impossible not to mention the leader in this matter, Bitcoin. Nonetheless, this number one position may be at risk due to a whopping increase in the price of Litecoin.

Although Litecoin is not as consolidated as Bitcoin, this crypto is actually on its way to the top of the list. Let’s recall that Litecoin was founded in 2011, only two years after the well-known Bitcoin was released, but despite this, it currently ranked as the fifth cryptocurrency in value.

During the last year Litecoin has increased its value in a remarkable number of 4119.82 percent, and if we compare that to Bitcoin, it appears as small with only 13.4 percent the last year.

One of the reasons why this cryptocurrency is emerging is because of its simplicity; users find it very practical and easy to use. In fact, the Winklevoss twins recently stated they are considering Litecoin as a new possible allied for a market exchange; and if everything works out well, they would be adding the cryptocurrency to their platform during this year.

At the very moment only Ethereum and Bitcoin are offered on the platform of the Winklevoss brothers, Gemini Exchange, but as one of them said: “…potential tokens for expansion are from the Satoshi Nakamoto family tree – bitcoin, Litecoin”.

Why Litecoin’s popularity?

As all the cryptocurrencies, Litecoin was designed to be decentralized and with the hope of being a faster and more simplified currency; and in this matter, Litecoin is achieving its goal.

The primary key is the time variable; while Bitcoin creates a block of information with data encrypted in about 10 minutes, Litecoin does it in 2 and half minutes; this represents an operation speed of four times faster.

Consequently transaction fees are much lower, and of course, the whole operation process is simpler. Furthermore, the benefits of this cryptocurrency are under the spotlight of multinational companies such as Starbucks and Amazon, who are actually thinking of adopting Litecoin on their sites this year.

Could Litecoin price topple bitcoin?

Litecoin showed a remarkable growth in last year when it passed from having a price of $4.05 to $175.26. On the other hand, Bitcoin has been struggling to stay above $9,000 after dipping below the crucial pricing marker on many occasions lately.

However, neither of them (Bitcoin or Litecoin) are exempt from falling upon the market pressures. Regarding this matter Charlie Lee, who is a former Google employee, stated the market, in general, is very volatile:

“I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can’t handle LTC dropping to $20, don’t buy!”

He later explained that he wasn’t asseverating the market was going to drop, but he thinks this is something to be considered since the cryptocurrency market has proved to be a constantly changing one.

Why is the crypto market so volatile?

The uncertainty of crypto-market gets attributed to a lack of supervision, regulation, potential hacking and a sell-off of tokens from the Tokyo Whale.

Subsequently, a crackdown on the crypto-assets is expected for better and more consolidated monitoring, and international standard-setting as the G20 financial leaders reportedly are going to push for that in annual summit being held in Buenos Aires on March 20. And in case of regulations, all the cryptocurrencies probably will be affected (at least at some extent for a while) but as Bitcoin is the big brother of them all; it might get to bear the brunt of the traders and short sellers more.

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 BTC Keychain via Flickr

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As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to…

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CoinFlip Continues to Dominate the U.S. Cryptocurrency ATM Market

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Although cryptocurrency has brought in a lot of traders seeking the dream of overnight wealth, cryptocurrency is a lot more than just striking it rich.  Cryptocurrency is about creating a new market with companies that are building cutting edge technology in an effort to continue elevating our way of life.  As the crypto market continues to expand, several companies are involved in creating ways for more people to participate.  One such company that appears to be making all the right moves is CoinFlip.

CoinFlip is the world’s leading cryptocurrency ATM operator that currently allows users to buy and sell 10 different cryptocurrencies including BTC, ETH, LTC, DASH, TRX, KMD, LINK, BNB, XLM, and USDC.  Due to the company’s quick growth, CoinFlip has quickly gained a reputation of being the place to go for all crypto ATM transactions.  In addition to its massive geographic coverage, there are four advantages that CoinFlip currently offers over its competitors:

  • Lowest fees of any cryptocurrency ATM in the world
  • Lightning-fast transactions that are typically completed between 10 and 30 minutes
  • Extremely easy customer verification
  • 24/7 customer support through phone, text, and chat

Given the global pandemic currently facing us, many companies have been struggling just to survive.  CoinFlip, on the other hand, is not only surviving but thriving.  The company has had an exciting few months and has even bigger plans…

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Cryptocurrency Fraud is Evolving; Bitcoin ATMs Mitigate Risk 

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Cryptocurrency Fraud is Evolving
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In one of the more overlooked aspects of the crypto ecosystem, it appears that the bulk of illicit activities are shifting from hacks and thefts to cryptocurrency fraud and scams.

CipherTrace, the crypto-surveillance, and analysis firm released a report at the end of Q4 2019 that revealed hacks and thefts had decreased by 66 percent in 2019 while fraud and misappropriation of funds surged by 533 percent. And beneath the COVID-19 hysteria of 2020, hacks in the crypto sector have been eerily isolated. 

Outside of a few exploited flaws in P2P exchanges and DeFi flash loan vulnerabilities, the headline-grabbing hacks of exchanges for hundreds of millions of dollars have been absent so far this year. Is the industry due for another massive hack, or are stringent KYC/AML processes, regulatory crackdowns, better security practices, and blockchain surveillance working? 

KYC/AML Improvements Are Reducing the Appeal of Crypto Exchange Laundering 

2020 is far removed from the no-KYC wild west days of the early-mid 2010s where anonymous altcoin casinos preponderated and the Dark Underbelly of Cryptocurrency Markets thrived. 

Today, bitcoin and the crypto ecosystem is becoming institutionalized with a surfeit of derivatives (e.g., options, futures, perp swaps, etc.) available on…

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