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Why Amazon Might Choose to Adopt Litecoin (LTC)

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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.

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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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