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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

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Bitcoin

New Tendencies of Bitcoin Gambling

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Gambling has always been an integral part of human nature. Nothing is sweeter than the money you win, and that’s why wagering games have always captivated people throughout history. Last couple of decades saw the gamblers switch increasingly towards virtual gaming, instead of physically being inside a casino. The popularization of online casinos led to the integration of Bitcoin Gambling into the systems and today a very large share of the casino industry is based on the virtual currency.

Reasons behind the transition

The tendency to switch from classic casino environment was dictated by the fact of mobility and accessibility. But the new age has brought us cryptocurrencies like Bitcoin that revolutionized the gambling business. From now on, the gamblers of the world don’t have to rely on traditional banking transactions to be able to enjoy themselves online. A simple crypto-wallet and ownership of virtual currency is enough to engage in Bitcoin Gambling.

Bitcoin Gambling and Blockchain Technology

The big reason for the heavy shift towards Bitcoin Gambling is the fact that Bitcoin and other cryptocurrencies are based on the blockchain technology. This means that the process is decentralized, resulting in a much faster speed of transactions, when it comes to depositing or withdrawal of funds in or from the casino accounts. It also makes gambling incredibly secure,…

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Bitcoin

Bitcoin will return to the bear market? Bex500 senior investor teaches you how to get profit in the Bear market

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—— Don’t forget to join Bex500 bonus program at the bottom of the article.

Since September, the Bitcoin price has been decline from beyond $10000 to below the $8000, which 20% of the bitcoin value has been removed. The collapse of bitcoin price brings about the new panic in the bitcoin trading market. Many bitcoin investors are scared of the returning bear market as the early of this year. On the contrary, some of the bitcoin-believer, especially the investor who brought Bitcoin in the height of the price still thought that the bitcoin price will rebound very soon. However, it is no doubt that the early stage of the bear market has been shown up in the past month. Many crypto analysts start to predict the bottom price of this market movement.

However, as the market developed, crypto traders have detected more tools to safely pass through the bear market. They realized more ways to avoid the loss of the price decline; moreover, they began to earn profit from the bear market. The key to the tools is the bitcoin futures contracts. We are honored to make an interview with Bex500 senior investor Tom Beck and he introduces the details about bitcoin futures contracts. (Reporter=R, Tom Beck=T)

R: Hi, Tom, Thank you for accepting our interview, Could you introduce yourself?

T: Sure, My name is Tom, I have over…

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