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Here Is How You Could Soon Buy Litecoin (LTC) Using Visa and Mastercard on the Abra App

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Abra Global’s CEO, Bill Barhydt, earlier this year stated that the company was choosing the Litecoin (LTC) network for its smart contract investing solutions that will soon be available to users of the Abra App. Mr. Barhydt would explain this decision via Reddit when he was quoted as saying:

“We went with Litecoin as the second asset class, after bitcoin, for our smart contract investing solution for 3 primary reasons: 1. commitment to bitcoin compatibility: core roadmap, p2sh support, lightning support, etc; 2. slightly better scalability than bitcoin in short-term (block size and block times); 3. mining fees which are primarily a function of #2 although this is more of a short-term benefit as mining fees would likely skyrocket if we’re successful anyway!”

Abra would then go ahead and support Litecoin (LTC) withdrawals and deposits on the app on the 21st of May. The mobile app now supports a total of 25 cryptocurrencies with more on the way.

The firm has also announced that you can now buy Bitcoin (BTC) using your Visa and Mastercard on the platform. The service supports both credit and debit card purchases from anywhere in the world at abra.com or via the Abra App. The new service on the platform has been made possible through Abra partnering with Simplex and has the following advantages.

  1. BTC purchases can range from $50 to $20,000 at a time.
  2. Buyers can direct their new BTC to any supported wallet, or set up a new wallet with Abra, which enables investing access to 24 altcoins and 50 fiat currencies.
  3. The BTC is usually available within 20 to 30 minutes, depending on blockchain processing times.

It is with this new development of Bitcoin purchases via Visa and Mastercard and the previous preference by Abra to use the Litecoin network for its smart contract investing solutions, that we can conclude it is only a matter of time before users can purchase LTC directly on the Abra platform using similar methods. The Litecoin network is poised at becoming the backbone of the Abra investing services that will come in the future.

If this LTC service pans out, it will add to the recent good news the Litecoin project and coin has had with the 9.9% purchase of WEB Bank through a mutually benefiting partnership with TokenPay. With Verge (XVG) also being partners with TokenPay, it is only a matter of time before the 3 projects boost each other even in the crypto-markets. Therefore, the current low prices of LTC might not last too long. Some have even predicted that LTC will surpass the $1,000 mark.

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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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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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