Litecoin (LTC): New deals with Aliant and Abra is a Real Boost
Litecoin (LTC) -There is a new partnership between Litecoin LTC & Aliant Payments. This will offer innovative solutions to merchants seeking change and a better balance at the end of the fiscal year. Aliant Payments made headlines for offering merchants valuable solutions for their small businesses – debit card processing and money on credit, also merchant processing fees just to mention a few. They have finally confirmed that they are entering into an official agreement with the Litecoin LTC foundation.
Eric Brown, CEO of Aliant Payments commented:
“Our merchants look to us for innovative ways to transfer money safely, securely, and cost-effectively…. Cryptocurrency allows us to move money in all of these ways, while also offering consumers more payment options.”
This partnership has come amidst the chain of disasters hounding LitePay, some of them including the scrapping of LitePay followed by the news that the LitePay debit card, a feature that allows Litecoin investors to spend their currency, has been put on hold indefinitely. This is very good news after the torment time they had with LitePay, including the scrapping of LitePay and also the news that the LitePay debit card would be put on hold indefinitely.
Charlie Lee, Creator of Litecoin, ex-Director of Engineering at Coinbase, in a comment, replied:
“The Litecoin Foundation is pleased to partner with Aliant Payment Systems for Litecoin payment processing. Aliant offers a well-rounded solution for merchants to accept Litecoin easily with a physical point of sales terminal (via Poynt), virtual sales terminal, and custom API integration”
The partnership allows Litecoin Foundation to provide merchants who make inquiries about cryptocurrency by providing them with an option to seek a ‘vetted and approved payments processor’. Merchants will have access to convert payments received in Litecoin and also to convert them to fiat currency.
This new agreement will provide Litecoin Foundation with the ability to let the merchants who make inquiries regarding cryptocurrency get a “vetted and approved payments processor.” This will allow merchants to have access to convert payments received in Litecoin and also the added benefit of converting them to a normal currency.
Merchants and users alike were ecstatic with the news of this new development
Is Litecoin Underrated?
The cryptocurrency market became larger and larger from day to day and that makes it much harder to know what cryptocurrency people should invest in. Since cryptocurrency is now the trend and more and more people became interested every single day, cryptocurrency markets became larger too, just like one of the famous economic principle restated as, ‘As the possible investor increases, cryptocurrency market increases’ and vice-versa.
But why is Litecoin considered underrated? Market Analyst explains that Litecoin has a lot of characteristics that can match Bitcoins or even exceeds it but it cannot be seen easily since there are a lot of cryptocurrency in the market.
Litecoin has a lot of potentials. Since it was developed, Litecoin has worked really well and last January 4, 2018, it was awarded as the 8th largest Cryptocurrency in the market with a capital of $13 billion. Even with those numbers, investors and analyst still believe that Litecoin STILL hasn’t reached its Full POTENTIAL. All hard works are paid off but of course, we cannot deny the fact that Bitcoin is still on the top of the list.
Why is Bitcoin still considered as Vastly Underrated even if it reaches the top 10 of cryptocurrencies? Not all people may see it but speculators believe that Litecoin is still not that recognizable because of the largest hindrance: It’s other cryptocurrency competitors. For a lot of people, if it’s popular, then it is safer to invest, that is why, most of the time, other high-potential Cryptocurrencies cannot be recognized and is having a hard time climbing the top.
What’s New About Litecoin? What’s with the recession and temporary success?
Litecoin is a cryptocurrency developed in 2011 as an alternative to Bitcoin. We can consider Litecoin as the user-friendly version of Bitcoin. There are two key differences with Litecoin and Bitcoin, the first one is that in terms of adding the new block to its blockchain, Litecoin has lesser time interval that decreases transaction time, another one is that Litecoin is operated by the Scrypt algorithm, as opposed to Bitcoin’s SHA 256. The purpose of this is to restrict ASIC miners and allow users to efficiently mine Litecoin on regular PC’s; it was working as intended for some time until Scrypt ASICs were developed.
Litecoin became really popular with miners since the year it was developed. But of course, cryptocurrencies are not always on the top, there are some recessions and problems. Bitcoin is on the top of cryptocurrency but it is possible that Litecoin can outpass Bitcoin? What and Why not?
Is Investing in Litecoin worth it?
Litecoin is designed after Bitcoin but the features of Litecoin is highly improved than Bitcoin. The creators of this cryptocurrency aim to be the lightweight version of Bitcoin itself but through the years, they improved Litecoin a lot.
For example, Litecoin has more coin limit than Bitcoin. Litecoin has a coin limit of 84 million while Bitcoin stands only at 21 million. Litecoins’ coin limit is four (4) times the size of Bitcoins coin limit.
Another good thing about Litecoin cryptocurrency is that it can generate transactions faster. Litecoin is designed to be user-friendly, it aims to make transaction easy and faster. The cons about this are that since it gives faster transaction, it is highly-risky than other cryptocurrency but of course, they are now improving Litecoin to do easy faster transactions yet safe to use for investors.
Litecoin Fails? What’s with Abra company and Litecoin?
Days ago, news popups that Abra, a company backed up with American Express, had teamed up with Litecoin (LTC) for its smart contracts and they announced that Litecoin became the second asset next to bitcoin and they even announced that there is a potential that Litecoin can become the primary asset. All these statements are announced during the Reddit AMA. After this team up, the cryptocurrency raised up to 13% even after a couple of hours during that period of time.
Abra’s CEO also clarifies why they chose Litecoin as their another asset:
“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 raised $40 mln for Litecoin to power up their smart contracts and wallet, Litecoin immediately gained 20% and hit $131 weekly high on April 3. Abra’s announcement buoyed Litecoin investors after prices nosedived last week in light of merchant gateway LitePay suddenly closing its doors just weeks after it opened for business.
Success became very hard for them and after just a day, Litecoin lost most of Abra’s influence gains and turned back to $121 in just a day. The CEO of Litecoin states that they became too excited about their success and avoided most of the warning signs. Dreams and success do fade away quickly if treated without any precautions.
Even after this incident, Research analyst still grasps to their prediction and analysis that Litecoin will still remain above $125 and the $400 goal is still possible.They might be having a bit of a recession but market analyst still claim that it is possible.
Cryptocurrency miners still hope that these predictions can be possible soon. As for people who are beginners at Cryptocurrency, we highly recommend that you study every aspect of Cryptocurrency before entering it and being part of it.
Cryptocurrency is not an easy way to earn money, it is just a way for you to have something to invest your money with and hope that it will increase more and more. It is also important that you carefully choose the cryptocurrency you’ll use. This is to avoid future regrets and possible loss of money or shall we say investment. Be smart and take your time in choosing where to put your investment
Reasons for value increase
Litecoin as a cryptocurrency has evolved from bitcoin. Charlie Lee, formerly Google employee, launched Litecoin on 7th October 2011. Litecoin is more secure and faster as compared to Bitcoin. These features have enabled it to be considered as an evolution of Bitcoin. Litecoin is among the best altcoins available in the market. The main significant difference between Litecoin and Bitcoin is that Litecoin takes approximately 2.5 minutes to generate a transaction whereas Bitcoin takes 10 minutes approximately. Litecoin features have attracted more investors. As the number of increases, the value of Litecoin increases too. Every investor tries to minimize costs and maximize profits.
Litecoins are not only affordable but also swift when transacting. This has attracted more investors to use Litecoins. Before the invention Litecoin, Bitcoin was taking control in cryptocurrency. Bitcoins have decentralized experience. That is, one cannot switch to another altcoin while transacting. Miners are mostly affected by this Bitcoin feature since they cannot switch over to litecoin when using Bitcoin’s network. This feature limits their investments. Litecoins are not decentralized hence one can switch to another altcoin when transacting. Investors especially miners consider investing in Litecoins because of this feature. Considering that Litecoins are affordable, both small traders and miners choose Litecoins over Bitcoins. The more the investors invest using litecoins, the more the value rises.
Litecoin transacts faster and can handle large volumes of transactions. As discussed earlier, litecoin processes a block in approximately 2.5 minutes, unlike bitcoin which processes a block in 10 minutes. Moreover, Litecoin can handle large volumes of transactions. The ability of litecoin to transact fast enables it to handle many transactions. When transacting using bitcoin, one requires code updates. These code updates limit transactions using bitcoin. Since both small traders and miners require a platform that accommodates many transactions, the go for litecoins. Many investors going for litecoin makes its value to rise.
Moreover, litecoins are usually more secure. Faster transactions feature of litecoin reduces risks of attack. Security is very crucial for any kind of transactions. Security makes more investors use litecoin. As more investors invest using litecoin, the value of litecoin rises.
Reasons for the drop in value
From January 2018 there was a tremendous decrease in value of all cryptocurrencies. Litecoin was not an exemption. If all cryptocurrencies are affected by external factors, Litecoin is also affected leading to decrease in value. Therefore, wide market correction affects the value of litecoin. If the value of wide market correction declines, the value of litecoin also declines. Fluctuation in the value of wide market correction and that of litecoin go hand in hand. Only in special cases where the value of litecoin is not affected by the decrease in value of overall wide market correction.
Litecoin follows bitcoin lower. Litecoin is correlated to bitcoin. The correlation makes the value of either altcoin to be affected by the other. Litecoin is considered to be second to bitcoin, therefore, there is a very close relationship between the two cryptocurrencies. The prices of the cryptocurrencies have displayed strong correlation.
Litecoin prices have decreased due to following footsteps of bitcoin. Litecoin is usually referred to as silver bitcoin. This referral shows that litecoin is like a duplicate of bitcoin. Therefore, if any factors available in the market affect bitcoin, litecoin is also affected. Greenspan once said that the two coins, bitcoin and litecoin, are correlated because both coins use similar cases. If litecoin was independent in the market of cryptocurrencies, it would be surviving the effects of external forces.
There are a lot of developments regarding Litecoin LTC, it is one of the only cryptocurrencies that are performing reasonably well. It is in your best interest to follow and to get acquainted with this crypto because it has way more to offer then the others at this moment.