Cryptocurrencies have started infiltrating more and more businesses, and it would be pretty hard to find a branch of business that has shown no interest in this technology. Ripple (XRP) is the perfect example of this, considering that some of the largest banks and financial institutions in the world have adopted it already. However, Litecoin (LTC) might make its own big progress soon.
Will Litecoin (LTC) be adopted by Amazon?
Being adopted by a company as large as Amazon is every crypto’s dream. However, Litecoin might be the top choice for this firm, if it decides to go for cryptocurrencies.
Litecoin’s community is especially enthusiastic about this e-commerce platform, and the majority of them has already requested multiple times that the coin is added on Amazon. The interesting thing is that Litecoin’s nature and technology actually make it the perfect choice, which means that the adoption might actually come to pass when Amazon decides that it is ready to go crypto.
What makes Litecoin (LTC) the best choice for Amazon?
One of the reasons why Amazon might choose LTC is that Litecoin’s most important features are exactly what Amazon is looking for. Amazon deals with millions of customers, and it needs its payments to be fast, cheap, and as secure as possible. These are the exact aspects that LTC is best known for. Not only that, but it is actually far more advanced than the payment system that Amazon is currently using.
When it comes to speed, Litecoin is one of the fastest cryptos around. Apart from that, it allows payments via any currency, since they can all be converted to LTC coins. This makes it extremely practical, and perfect for Amazon and its customers.
Additionally, Litecoin is also among the cryptos with the biggest level of security. This would also make it very attractive to Amazon, which has millions upon millions of customers, all requiring a secure way to make payments. Amazon currently uses Visa since its security is one of the best, but even Visa recently had a major incident when it went blank in Europe. This means that the system, no matter how advanced it is, still has a lot of flaws. Litecoin, on the other hand, is blockchain-based. That means that all of the transactions are transparent, and are safely recorded on the blockchain itself.
If we add the extremely low fees to the equation, it is clear that Litecoin is a perfect choice for Amazon. As an example, a fee for a transaction involving $99 million would only be $0.44. This makes fees basically non-existent.
Downsides to Litecoin
Litecoin, like all other currencies, has peaked majorly in December 2017, and ever since then, the prices were extremely bad. What made a situation even worse is a sudden decision of investors to sell their coins, which led to Litecoin becoming oversold overnight.
This has had an even larger impact on its price, which continued to drop over the course of Q1 and Q2 of this year. However, lately, the prices have been showing signs of recovery, and a lot of experts believe that another period of recovery is about to come. If that is the case, the interest in Litecoin will probably spark again, and the prices might reach their former glory.
For the latest cryptocurrency news, join our Telegram!
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 Pexels
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
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…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…