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Bitcoin, Litecoin, and Ripple still deserve real fondness, here is why

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April was fantastic for cryptocurrency trading. All coins went up. Things seemed just peachy. But last week was not that good as most coins lost some value against the USD. Take Bitcoin. It’s currently at $7365 against the dollar when it was beyond $8500 just a week or so ago. It is its lowest point since last April 18th when it was close to breaking the ten thousand barrier, and the market was all about rising prices. Bitcoin’s market capitalization is now at 126 billion, and it remains the biggest slice of the pie with a thirty-nine percent dominance.

Fears about Bitcoin are just identical as with all other main crypto coins such as Litecoin (LTC) or Ripple (XRP). XRP has gone down by 0.34% over the last twenty-four hours, and 13% in the last week so it’s now at $0.60. Litecoin has found itself in a similar situation as it’s lost 0.18% in the last day, and 15.29% for the week – so it’s now at $117.9 USD.

The Consensus 2018 conference a couple of weeks ago was supposed to prompt a market comeback that has not happened yet. Even as this is happening, observers are still predicting a market rally that will see Bitcoin and other digital assets reach new historical highs.

Projections, studies, and analyses all agree on that, so investors should not be worried about the current lows, but financial markets have never been driven by rationality anyway. It seems we’ll just have to wait until the wind changes again, and we can all ride the bear back to the top.

Even in the current context, there are good reasons to stay optimistic about Litecoin, Ripple, and Bitcoin.

Bitcoin (BTC): The power of permanence

Bitcoin has the name. It was the first cryptocurrency ever and it remains the one coin that holds the greater status, value, and demand. It’s been criticized by governments and observers, it’s been at the center of most scandals in the crypto world, it’s slow, the transfer fees are too expensive and, even when you take all into account, Bitcoin is still Bitcoin. It’s been around the longest, and it’s most certainly here to stay.

Every other cryptocurrency owes its existence, at least to a point, to Bitcoin and it remains the safest option around.

Besides the fact that it can be used for payments and for storing value, BTC has shown incredible resilience, it always recovers its value back, which is why Wall Street is getting involved with it. If cryptocurrency apocalypse were to happen today, there’s a ninety percent chance that Bitcoin would stick around anyway.

So don’t bet against Bitcoin. It is going to stay around as long as there’s a crypto market. It has demand and as its network is scheduled for an upgrade. It can only become more valuable.

Litecoin (LTC): Growing quietly but steadily

Whatever else is happening with other alt-coins, LTC retains some kind of charm that is allowing it to be increasingly accepted everywhere around the planet. As Bitcoin becomes more of a means to store wealth, Litecoin is becoming a retail payment currency the world over. As more businesses accept it as a payment option and more people use it to buy goods and services, its demand and value can only increase.

Ripple’s XRP: Partnerships matter

From all three coins mentioned in this article, Ripple’s XRP is the one having the hardest time. Questions remain about Ripple Lab’s role in controlling (or not) the coin’s performance, and there’s the issue of the lawsuit (is it a security or not?) that could affect every coin in the crypto world.

But the fact remains that, even in that context, Ripple is the one cryptocurrency that has proved it has practical value in the real world as at least seventy-five banks in the world are now using it to do their international transactions. There is every chance that the financial world will radically change because of Ripple’s technology and Ripple’s coin.

Ripple’s xRapid has gained acceptance among many big players in the financial sector (Western Union is one of them). It’s shown it can make international payments quicker, cheaper and more reliable. This is making XRP entrenched in the real world. There’s demand for it and Ripple’s technology customers need it.

Last thoughts

The market is down at the moment; there’s just no doubt about that. But it will bounce back for sure and when it does these three coins will be leading the way to recovery. So don’t panic, just wait a bit.

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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 Pxhere.com

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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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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