Where is it Better to Buy Litecoin and What Wallet to Choose?

Litecoin is one of the “eldest” cryptocurrencies. It has been in the top 10 on the coinmarketcap site for a long period of time. Now the project occupies the 4th place, with a total capitalization of just over $2 billion. If Bitcoin is often compared to gold, then Litecoin is considered silver in the cryptocurrency world. Buying this coin is a relatively stable investment, which can bring good profit in the future. In this article, we will talk about how to get Litecoin and what wallet is better to choose.

1. How to choose a Litecoin wallet?

Initially, in order to become the owner of this cryptocurrency, it is necessary to acquire a wallet that supports LTC. There are few variants for storing Litecoin. Let’s take a closer look at each of them:

  • Online wallets are the most convenient in use, but unfortunately, this method is the most unsafe. The fact is that private keys to wallets are on the servers of companies. Potentially, they can be subject to hacker attacks. This may lead to a total or partial loss of assets. For this reason, it is better not to keep all your savings in online wallets. A short list of popular services that support LTC (Cryptonator, LiteVault, block.io, Rahakott etc)
  • Software wallets are intended for installation on desktops or laptops. There are two types – “heavy” and “light”. To install the former, you need a lot of free disk space (hundreds of gigabytes), since the clients of “heavy” software wallets contain the entire blockchain network database. These wallets are fairly secure; one of the most popular full-length official wallets for Litecoin is Litecoin Core. “Light” wallets do not require downloading the entire blockchain, they are more convenient to use but less secure. List of lightweight wallets (Electrum LTC, Exodus etc)
  • Mobile wallets are applications for smartphones and tablets. One of the most popular LTC storage applications on the Android operating system is LoafWallet. If we talk about multiplatform solutions, then these are Coinomi and JAXX.
  • Hardware wallet is an upgraded USB flash drive, which has an auxiliary protective mechanism built into it. They can be made manually, but here is a list of ready-made solutions: Ledger Nano S, Trezor, KeepKey.
  • Paper wallets are one of the most reliable ways to store cryptocurrency. This option is suitable for long-term storage, as using coins on a daily basis through a paper wallet is not very convenient. You can generate a new wallet for LTC at https://liteaddress.org.

2. Online exchanges

According to most users, the best place to buy Litecoin is online exchange. Before making an exchange in any service, it is necessary to make sure that it is working and secure. The fact is that there is a huge number of fraudulent services on the Internet, which either exchange at a very low rate, or do not pay a penny at all. For this reason, it is necessary to be very careful and attentive. Here is a small list of honest and good services that have been operating for years now:

AlfaCashier. This exchange supports a huge amount of different coins and fiat. For example, here it is possible to buy Litecoin with cash Perfect Money, MoneyPolo etc.

Indacoin  – is it very popular online exchange that works in many countries of the world. The main advantage of this service is the ability to acquire LTC or any other cryptocurrency using a credit or debit card Visa/MasterCard.

Large exchanges have physical places where it is possible to buy almost any popular cryptocurrency for cash. But unfortunately, these kind of services are not numerous, and they are concentrated mainly in large cities.

3. LTC purchasing on the stock exchange

Many more advanced users know the answer to the question “Where can I buy Litecoin profitable with minimal cost?” – on cryptocurrency exchanges. These sites are first of all intended for trading cryptocurrency assets, but if you are not going to engage in trading, but want to buy cryptocurrency at the most favorable rate that changes in real time, you still need to register at one of these sites:

Livecoin – a convenient small exchange that has minimal commissions, does not have a minimum deposit amount and works with Fiat.

EXMO – a large choice of languages, moderate commissions and the ability to replenish your account with fiat currencies make this exchange a very convenient tool for purchasing digital coins.

HitBTC – has a friendly interface, low commissions, and also supports USD.

4. Other methods to acquire LTC

It is possible to buy Litecoin through direct transfer of funds to a person who wants to sell his coins. The advantage of this method is that you do not need to pay commissions to intermediaries, to register at various services, etc. But in this case, there is a possibility that the second participant in the transaction may turn out to be a fraud and you can say goodbye to all your money. There are various forums for searching for direct sellers and buyers of cryptocurrency, but they should be used only at your own risk.

5. Conclusion

Many people mistakenly think that it is possible to buy Litecoin stock as simple as Apple, Tesla, Microsoft, etc. But it should be understood that Litecoin is not a company that represents the stock market, it does not have stocks, it is a cryptocurrency project that has its own coins, which can be easily purchased using online or offline exchanges, cryptocurrency exchanges, directly from another person, etc. Many beginners are interested in an important question: “When to buy Litecoin?”. Unfortunately, there is no exact answer to this question. Nobody knows when the best time for purchasing comes. The main things to know about investments in LTС or any other cryptocurrency:

  • don’t invest your last money;
  • don’t buy cryptocurrency for a short term;
  • forget about this money and be morally ready to say goodbye to it.

Only in this case, you will be able to calmly experience the huge volatility and wait for the next growth.

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CryptoMining.Farm Scam: 30 Victims Lost $1.34 Million

Thirty people have filed complaints to Thailand’s Technology Crime Suppression Division stating that they were victims of crypto mining scam, they allegedly lost 42 million baht ($1.34 million). The police thinks that the amount of victims can be bigger.

According to the victims’ words, the leaders of the scam convinced them to invest money into CryptoMining.Farm, a blockchain-mining website. One anonymous victim said to the Bangkok Post that one of the leaders promised investor an impossibly high return – 70% a year.

The victims signed contracts when they entered the website, the documents said that a customer may withdraw money at any time he/she wanted without any additional condition. However, the situation has changed since August. The victim stated that:

“From August the owner began imposing conditions for withdrawing the money. Then at the start of this month, the site announced it would start paying back investors in 84 installments which would take over seven years to complete. The payments were supposed to be made in foreign currencies [which] is not permitted by Thai laws.”

After a preliminary investigation, the police is sure that not 30, but 140 people became victims of the scam. Moreover, it can be related to a big scandal which happened in August 2018, when a popular Thai actor and his siblings stole about 797 million baht ($25.5 million).

According to the Bangkok Post, the company has two official offices in Bangkok and Chiang Mai, which may make the victims think that the company’s operations are legal.

Thailand treats digital money with caution and tries to regulate it. The Thai Ministry of Finance even issued a document last year where all the country’s cryptocurrency activities were regulated, including the taxation of participants of crypto market.

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Cryptocurrency Prices Today, February 19: EOS Has Increased By More Than 20%, BTC Approaches At $4000

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency Rate

According to the Coingecko online platform, Bitcoin (BTC) added 4.1% over the past 24 hours. The price at the time of writing is $3896 per coin.

Cryptocurrencies are growing rapidly:

Bitcoin Cash added 11% over the past 24 hours and costs $145 per coin;

Ripple increased by 8% and costs $0.33;

EOS raised by 21% and its price is $3.57;

Litecoin grew by 6% and its value is $47;

Cardano plus  7% and costs $0.046;

Stellar fell by  9% and its price is $0.087;

IOTA added 7% and its cost is $0.30;

Dash raised by  8% and its price is $87;

Monero became more expensive by 5% and costs $51.

Over the past 24 hours, Ethereum has added 5.6%. The coin rate is $146 per coin.

The total market capitalization is $132 billion. Bitcoin’s share is 51.8% of the total. In monetary terms, it is $68 billion.

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The List of Bitcoin Mainstream Trends Which Will Dominate in 2019

Bitcoin is one of the most famous cryptocurrencies in the world. It is actually the first one, thus, no matter what might be, it has already gone down in history. Even though the cryptocurrency may not be that popular right now, due to various reason, some changes are already inevitable, hence, let us just check on trends which will become a part of everyday life in 2019.

1. Bitcoin ATMs

The number of Bitcoin ATMs is growing rapidly. It is a kiosk which allows a person to buy/sell Bitcoins in cash or by credit card. They actually look like an ordinary terminal, yet, it is connected not to bank account, but to Bitcoin exchange. The number of Bitcoin ATMs in the world accounts for 4292 at the time of writing.

Source: www.statista.com

Such ATMs will definitely encourage people to use cryptocurrency, since now it becomes more understandable for ordinary people. If people get accustomed to use Bitcoin ATMs, then crypto will see a bright future.

2. Central banks and Bitcoin

Some people do not want to get involved in crypto as it lacks regulation, including bank regulation. However, in 2019, one of Bitcoin trends may become partnership between central banks and cryptocurrency.

Several banks have already introduced systems how to work with crypto. Bank of America, for example, has officially patented a system for saving crypto actives for significant corporations. Moreover, this week, one of the biggest American banks, JPMorgan Chase & Co, has announced that it developed its own digital coin – JPM Coin.

Perhaps, such implementations will bring positive effect on the relationships between crypto and financial institutions.

3. Bitcoin in smartphones

Since the beginning of the third millennium, a cell phone has become an integral part of our everyday life. By using a smartphone we can do almost everything that is connected to our work, study, leisure, or hobby. Financial transactions, including crypto operations, are no exception.

On May, 2018, Huawei Technologies Corporation provided users of its smartphones with the opportunity to use Bitcoin wallet BTC.com. At the end of the past year, HTC company released the smartphone Exodus, powered by blockchain. A person can only purchase the phone with digital currencies.

It is too early to say whether these phones will be successful and useful or not, yet still it is very important that world is trying to meet the needs of everyone.

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Cryptocurrency Rate Today, February 18: Bitcoin Overcame $3700, and Ethereum Is At $140

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency Rate

According to the Coingecko online platform, Bitcoin (BTC) added 2.8% in the past 24 hours. The price at the time of writing is $3747 per coin.

Cryptocurrencies moved to the green zone:

Bitcoin Cash added 6.49% over the past 24 hours and costs $130 per coin;

Ripple increased by 3.99% and costs $0.31;

EOS raised by 5.99% and its price is $3.01;

Litecoin became more expensive by 1.38% and its value is $44;

Cardano added 3.66% and its cost is $0.042;

Stellar lost 1.68% and costs $0.079;

IOTA added 1.84% and its value is $0.28;

Dash raised by 2.79% and its price is $81;

Monero became more expensive at 5.33% and costs $49.

Over the past 24 hours, Ethereum has added a record-high 12%. The coin rate is $140 per coin.

The total market capitalization is $126 billion. Bitcoin accounts for 52.1% of the total. In monetary terms, it is $65 billion.

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Details About Bitcoin Cash Cryptocurrency And Its Recent Hard Forks

The first cryptocurrency Bitcoin already had several dozen hard forks for its whole history, but all these projects did not receive adequate support and popularity in wide circles. The only branch of the original Bitcoin that really deserves attention is Bitcoin Cash. This cash appeared in August 2017 and immediately chained to itself attracted attention from the entire cryptocurrency community. Subsequently, this project got its own hard fork, which divided the coin into two projects: BCH ABC and SV. In this article, we will discuss this topic in more detail.

Contents:
(please, click the topic to scroll down to it)

  1. What is Bitcoin Cash?
  2. The main features of Bitcoin Cash cryptocurrency
  3. Hard fork BCH on November 15, 2018
  4. Where is it possible to buy Bitcoin Cash now?
  5. Conclusion

1.What is Bitcoin Cash?

Answering in simple words to the question “What is Bitcoin Cash?”, we can say that this is a cryptocurrency project, which is an improved version of the original Bitcoin. This project was formed due to the hard forks of the first BTC cryptocurrency held on August 1, 2017. The main reason for its holding was the disagreement of developers about the future of BTC, in particular, its scaling. As it is known, the Bitcoin blockchain bandwidth is not very large, for this reason, during a heavy load on the network, it is possible to wait for confirmation of transactions for several hours or even days. The development team decided to fix the above problems, thus Bitcoin Cash appeared on the market.

2. The main features of Bitcoin Cash cryptocurrency

As mentioned above, the Bitcoin Cash algorithm is designed to minimize transaction confirmation time. This kind of delays that occur on the original Bitcoin network and they happen due to many factors, including the small size of one block (1Mb). At Bitcoin Cash, this indicator is much larger, its block size reaches 8 MB.

Another fundamental difference between Bitcoin Cash and the original Bitcoin is the inability to extract BCH using specialized ASIC computing equipment. The fact is that for several years already, Bitcoin mining cryptocurrency has been profitable and is available only for large players since it can be mined using so-called Asics. Such equipment is quite expensive and only large miners can afford it. Since the hashrate of the Bitcoin Cash network is much smaller than that of its older brother, it is more cost-effective to mine BCH, using ordinary video cards. This feature makes BCH much more decentralized than BTC.

The third, but not the least important issue that Bitcoin Cash developers were able to solve is the number of transaction commissions. As it is known, miners receive impressive commissions for their work in the Bitcoin network, this is absolutely justified since they incur huge costs. But this hard fork is much less costly to maintain, respectively, users can make transactions and pay low commissions for it.

3. Hard fork BCH on November 15, 2018

The unity of the BCH development team did not last very long – thirteen and a half months, after which the project split into two parts. News about Bitcoin Cash, which filled all the profile media in November 2018, was only about the loud hard fork.

As we all remember, on November 15 last year, the BCH network was divided into two parts: BCH ABC and BTC SV. It worth noticing, that the split in the network was not very friendly. SV’s proponent Craig Wright was extremely categorical and allowed himself angry remarks about the ABC supporters, led by Roger Ver.

All market participants will remember this event for a long time, because literally right after it, the largest (in the last 7 years) drop in the coin rates began in the cryptocurrency market. In just two weeks, the market lost more than 50% of its total capitalization. Up to the end, it is not known how closely these two events are connected, but a partial correlation is definitely traced.

4. Where is it possible to buy Bitcoin Cash now?

To purchase BCH ABC currency is possible using a variety of online exchanges as well as cryptocurrency exchanges.  As for the BTC SV coin, the list of sites that supports it is a bit shorter, but in any case, you can buy SV at large sites (Gate.io, Binance, etc.)

5. Conclusion

So, Bitcoin Cash cryptocurrency is an improved version of the original Bitcoin. It was created by a group of developers who decided to go their own way and review some features of the work of BTC. So how does Bitcoin Cash work?

  • increased block size (up to 8 MB), which significantly speeds up the network;
  • the inability to mine BCH using ASIC, which has a favorable effect on network decentralization;
  • miners can conduct low commission transactions due to network optimization.

Answering the question “how fast is Bitcoin Cash?”, it should be said that the BCH network is able to process about 60 transactions per second. This indicator in the original Bitcoin is located at 7 transactions per second.

Subsequently, Bitcoin Cash was also divided into two separate branches: ABC and SV. This event struck the project a bit and slowed down its development. As of February 2019, Bitcoin Cash ABC takes the 6th place in the global Coinmarketcap ranking, with a total capitalization of just $2.092 billion. As for Bitcoin SV, it takes the 11th place, and its total capitalization is equal to 1.1 billion dollars.

If to talk about forecasts, then with much greater probability, Bitcoin Cash ABC has a much better chance of further development than Bitcoin SV.

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JPMorgan Develops Its Own Cryptocurrency To Speed Up Transactions: Details

One of the biggest American banks, JPMorgan Chase & Co, announced that it developed its own digital coin, JPM Coin, to speed up payments between customers. The statement also said the coin is based on blockchain, that is why improvement is about to come.

Why would the bank create JPM Coin?

JPMorgan explains that clients often faced trouble with the speed of transactions. Sometimes, it takes much longer time to send money than they expected, therefore it is an urgent problem for bank to solve. The head of digital treasury services and blockchain, Umar Farooq, said:

“Many of our clients move money in different ways and they’re looking for a more real-time way to move value around.”

The amount of payments JPMorgan moves every day accounts for more than $5 trillion, thus a number of client demanded to develop digital coin on blockchain to implement instantaneous value transfer. The bank started the development of JPM Coin about a year ago.

Main details of the coin

JP Morgan has become the first American bank to introduce its own digital coin in public. However, it is not a usual cryptocurrency in its true sense.

Ordinary cryptos usually use public blockchain technology that is in open access to everyone. Yet, a JPM Coin uses private blockchain of JPMorgan Chase & Co, and the price of the coin is pegged to one U.S. dollar.

The company said:

“When one client sends money to another over the blockchain, JPM Coins are transferred and instantaneously redeemed for the equivalents amount of U.S. dollars, reducing the typical settlement time.”

It is still unclear when the launch of the JPM Coin will be, all we know, there will be a small number of coins in a few months to test the technology.

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