Cryptocurrency
Litecoin (LTC), Ripple, and Bitcoin Cash Get Major Enhancement In UAE
Litecoin (LTC) – ADS Securities has revealed that traders making use of its proprietary OREX platform now have the opportunity to trade with three more cryptocurrencies. In a revelation, the Abu Dhabi, UAE based international financial services company confirmed that it is adding Ripple, Litecoin, and Bitcoin Cash to complement Bitcoin and Ethereum which were earlier added to the trade platform.
On the latest move, Head of Retail Sales at ADS Securities, Jason Hughes, said: “We are delighted to be expanding the offering on our OREX platform to include these key cryptocurrencies. OREX enables users to access the crypto markets with ease, and the flexibility of CFDs allow our clients to take long or short positions, helping their management of exposures and positioning during the current volatility in these markets.”
“Cryptocurrencies have been making waves for some time, however now that understanding of the market is growing, we believe it is the right time to introduce more coins on to our OREX Platform.”
Based in Abu Dhabi, ADS Securities is a financial services firm which was established in 2011, it specializes providing topnotch investment ideas to private and institutional firms. ADS Securities engages in banking investment, wealth and resources management, online trading, and global market. The firm also has a regional HQ office, Singapore and the UK.
This is a plus to the altcoins due to the continuous dominance of Bitcoin over the years. There is high tendency the newly added altcoin increases in popularity, usage, and value in the middle, especially in Abu Dhabi, UAE.
Over the week, there has been increasing turbulence in the cryptocurrency world with nearly all big coins affected.
The Future of Altcoins
Meanwhile, coins like Ripple are doing everything to get out of the mess through collaborations with big financial firms in the world. However, they all seems not to be helping matters since there is not a noticed sign of progress in the value of the altcoin.
Observers have rendered different opinions regarding altcoins, some say the main setback they suffer is the FUDs coming from bigwigs in the financial sector and the claim that cryptocurrency is a fraud as aired by government. To some, this may not be true. The problem with altcoins is that they are dependent solely on bitcoin.
While all these may be true, there is no denying the fact that the turbulence in the crypto world today knows no boundary, nearly all coins suffers the setback –Bitcoin included.
What Do You Know About Ripple?
Going by Kiel Thompson’s assumption that Ripple (XRP) “is going to be unstoppable in 2018 isn’t that far-fetched. The dynamic analysts averred that “After all, Ripple is one of the best performers in the cryptocurrency market on year-over-year returns. The XRP price charts show that the cryptocurrency that is currently ranked 3rd, gained value by a whopping 14,000% between February 2017 and February 2018. Its price rose from a lowly $0.0065 to an ATH of $3.84 earlier this year. It has, however, dipped to trade at a modest $0.911 today. (3rd March, 2018)”
Without unnecessary claiming that Ripple is unstoppable, it is visible that the cryptocoin is making every move to become the next big thing in the financial world.
Going by Ripple’s affiliations with banks, especially notable remittance firms like Western Union, MoneyGram, the sky is not the limit for the altcoin.
Litecoin Is A Threat To Bitcoin
Yes, no cryptocoin can stand on the way of Bitcoin, now. Who can say in the future, Bitcoin is still going to take the lead? Nobody can authoritatively say. With Litecoin capitalizing on the loopholes of Bitcoin, there is high possibility the altcoin becomes the leader, in some times to come. Going by the speed of transaction, a data from Blockchain.info reflects that the Bitcoin network’s long-term average transaction confirmation time is over 10 minutes per transaction, while Litecoin is around 2.5 minutes, according to data from BitInfoCharts.com. The superiority of Litecoin to Bitcoin is not in the speed of transaction alone, it stays in the script used in coding, as well.
Bitcoin Cash’ Progress is Surprising!
When it came into limelight last year, Bitcoin cash flourished, and was without delay added to Coinbase, a US based exchange. The listing gave Bitcoin Cash a big boost, owing to the fact that some altcoins have tried to get a listed on the platform without minding paying a huge sum.
Bitcoin Cash is a fork of Bitcoin Classic that was invented in August 2017.
Disclaimer: This article should not be used to judge financial dealings. It does not serve the purpose of financial analysis and hence, should not be used as a yardstick for investing in crypto. Seek financial advice if you doubt the reliability of any digital coin.