A cryptocurrency can be defined as a virtual currency that is generally used as a medium of exchange. Cryptocurrencies are limited entries in the database which cannot be altered unless specific conditions are fulfilled. It is not issued by any central bank, or under government regulation. Cryptocurrency does not enjoy the same kind of stability when it is compared to other physical currencies. Lately, several people are using cryptocurrency for different purposes which include online shopping, financial transactions, and many others.
Although Bitcoin is the first cryptocurrency that gained immense popularity in the financial market, there are other important cryptocurrencies which are currently trending the financial markets like Litecoin, Ripple, Ethereum, Monero, KIN, Cardano, Steller, Digibyte, Verge, etc.
Litecoin vs. Ripple
Blockchain technology has been growing at greater pace since the Bitcoin was introduced in the market. Almost every day new coins are coming up. Two popular cryptocurrencies are Litecoin (LTC) and Ripple (XRP). The two coins have been quite successful over the years and are considered as among the top ten cryptocurrencies in relation to the market capitalization. In this article, you will find a brief comparison between the Litecoin and Ripple so that you can easily decide which one could be a better investment.
Litecoin (LTC), the open-source blockchain based cryptocurrency was launched in the cryptocurrency market in 2011 by its founder Charlie Lee and the rest of the development team.It uses the Scrypt algorithm. It is considered better than the more centralized Bitcoin that utilizes SHA-256 mining algorithm dominated by ASICs. According to the Coin Market Cap, the current Market cap of the Litecoin is approximately 995,994 BTC and volume (24 h) is approximately 62,509 BTC with the price value $141.70 (as of 27th March 2018).
Ripple (XRP) can be defined as a distributed open source payment network, which has revolutionized financial institutions and the monetary transactions through the blockchain technology. It was launched in 2012 and is functioning in beta version. In 3rd Feb 2018, a stable version of the Ripple was released and the maximum supply amount of XRP is set at 100 billion. It utilizes Ripple Protocol Consensus algorithm (RPCA), to maintain the network agreement and consensus. It allows transaction in any currency and takes only 3.6 seconds to complete the entire transactions on the Ripple network. As mentioned in the Coin Market Cap the market cap of Ripple is 2,847,518 BTC and Volume (24h) is 54, 980, BTC with price value $0.583216 (as of 27th March 2018).
What is Preferable: Ripple or Litecoin?
It is true that the world of cryptocurrency is a bit intimidating due to the complex terminologies and technical computing terms. Nevertheless, the cryptocurrency market has been growing at an exceptional rate, providing great prospects to people. Those who have invested in cryptocurrency have benefited tremendously in many ways. It is the most trusted digital currencies in the market and it does not need any third party.
According to the recent survey Bitcoin, Litecoin and Ethereum have gained more popularity than Ripple that is currently third in the market capitalization (as of 27th March 2018). As described in Forbes magazine, that cryptocurrencies were the most popular choice to invest a large amount, as much as $10,000. As per the recent survey by Professor and Chair of the Department of Economics at LIU Panos Mourdoukoutas shows that 9.19% of millennial (18-34) would show interest in investing $10,000 in cryptocurrencies, compared to the 4.04% of Generation Xers (35-54), and (3.08%) of Baby Boomers.
The survey puts Bitcoin ahead of all other coins followed by the Ethereum and Litecoin. But the most surprising fact is that no one chose Ripple as the most trending coin in the market. As Mourdoukoutas said, “Specifically, 76% of the millennials in the survey said that they would invest the $10,000 in Bitcoin, 12% in Ethereum, and 12% in Litecoin.”
According to the cryptocurrency market analyzers, in Q2 Litecoin is expected to grow beyond $385 in 2018. Whereas, compared to Litecoin, Ripple’s short-term profitability outlook is not that great. Nonetheless, the coin still has some possibility to grow as it enters into Q2. According to the financial experts, Ripple is expected to reach beyond $1.960 in 2018.
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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 InvestmentTotal.com via Flickr
Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…
TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level
Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
- Privacy concerns
- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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