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The hype of cryptocurrencies has increased dramatically over the past few years. Especially after the introduction of Bitcoin, back in 2009.

Bitcoin is the most popular cryptocurrency. The currency has ruled the crypto world undisputedly for many years. Even now, Bitcoin sits on top of the crypto pile. However, it is not the only king in the jungle anymore. The leading cryptocurrency is now facing a growing competition from other cryptocurrencies, Litecoin being one of the closest rivals of Bitcoin.

In this article, we have discussed the major differences between Bitcoin and Litecoin. Hopefully, you will be able to get a good idea about both the cryptocurrencies after reading this.

Litecoin:

Litecoin is one of the many names that received a lot of positive responses from the market.  It was launched in 2011 by its creator Charles Gee – with the aim of becoming the “silver” to Bitcoin’s “gold”. Like Bitcoin, Litecoin is also generated by mining. The motivation behind its creation was to improve upon Bitcoin.

Bitcoin:

In 2009, Satoshi Nakamoto launched Bitcoin as the world’s first cryptocurrency. It has no central authority and anyone can access it from anywhere. Bitcoins are ‘mined’, using computing power in a global network and are used to buy things electronically.

Bitcoin vs Litecoin

What is The Difference Between Bitcoin and Litecoin?

There isn’t just one, but many differences between Bitcoin and Litecoin. The major differences are as follows:

  • There are more litecoins available in the market, i.e. 84 million than bitcoins as Bitcoin will never exceed the limit of 21 million.
  • Due to the limit of bitcoins available, it is of much higher value as compared to Litecoin.
  • Litecoin has a much faster speed of transaction; only 2.5 minutes, unlike Bitcoin which takes around 10 minutes right now.
  • Both employ different algorithms, Bitcoin uses the longstanding SHA-256 algorithm, unlike Litecoin which makes use of a new algorithm known as Scrypt.
  • Another major difference is that Litecoin is a cheaper option for miners than Bitcoin. The former only requires a normal computer and an internet connection to begin mining, whereas the latter requires maximum computing power which is out-of-reach for an everyday user.
  • Bitcoin is relatively slow in confirming transactions, while Litecoin accepts a higher number of transactions due to its higher volume of blocks.

So, What to Choose – Bitcoin or Litecoin?

We know that both the cryptocurrencies have their own set of pros and cons. They even have several resemblances. No doubt, they are both accepted very positively all across the globe. However, the final choice is yours.

Good Luck!

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ICO Alerts: Five ICOs Ceased by Massachusetts for Selling Unregistered Securities

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According to the new orders of Massachusetts, the state has halted five ICOs (Initial Coin Offerings) as it stated, that the firms behind them were selling unregistered securities.

Crypto ICO News

The officials of government found that they all of these companies defied the General Laws of the state, which describe securities as bonds, investment contracts and stocks, that assures a financial profit, as it’s clearly defined in the orders. This stoppage was a part of a bigger inquiry into token sales that are being conducted by the government of the state.

ICO world

Investigation Against Companies Selling Unregistered Securities

On Tuesday, after investigating each of the company, William Galvin (Massachusetts Secretary of State) has ordered 18moons, through platforms like Sparkco, Mattervest, and Pink Ribbon, to stop their ICO campaigns. Moreover, all of these companies are required to propose, in order to return funds to their investors within the period of 30 days. Additionally, the companies would have extra 45 days to return the funds.

According to the records, a list of all refunded investors who have paid back the company has to be provided by the startups as well. Despite the fact that the orders highlighted, that the campaigns will be permanently halted and won’t be allowed to sell unregistered or non-released securities within the Massachusetts state, still, all startups will have the ability to register its tokens as securities in the future.

On the other hand, companies that are under- investigation, according to the orders, these companies will be suspended until they completely follow the orders. Though, if any company fails to obey any of the terms in the Division’s Order, then a legal action will be taken by the Enforcement Section.

No Response from Companies

The companies haven’t commented or responded to any of the questions so far. The head of SEC, Jay Clayton wanted cryptocurrencies to be regulated just like regular securities, as there was a possibility that at least few of the state officials would settle on it. But still, the doubt exists that there are many bandwagoners in the ICO world who don’t comprehend very much about the financial regulation.

Such moves can solely do so much, especially when there aren’t plenty of guidelines surrounding ICOs, however, they can lead some of the companies to have a second thought before hastening.

The latest step of Massachusetts on the ICO front is represented by its advancement and progress. At the beginning of this year, a suit was filed by the state against an ICO director and his company, claiming that the token sale represents an unregistered security offering.

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What Is Bitcoin Wallet and What Are the Main Types of It?

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What Is Bitcoin Wallet

Bitcoin is a peer to peer currency which does not have any physical form. In other words, it’s a virtual currency. The currency is stored in Bitcoin wallets.

There are several forms of Bitcoin wallets – most common ones being desktop wallets, mobile wallets, online wallets and hardware wallets.

The goal of this article is to provide you with the necessary information about all these forms of wallets. So let’s get started with knowing what is a Bitcoin wallet are and what are the different types of it.

Desktop Wallets:

Desktop wallets are compatible with different desktop applications and each of them offers different features. For example, Hive is an OS X-based wallet which includes app store that connects directly to Bitcoin services.

Another example of desktop wallets is Bitcoin Core which relays transactions on the network and enables you to create a Bitcoin address for sending/receiving virtual currency.

Some desktop wallets are particularly designed to gain enhanced security. Armory is a prime example of such wallets.

Mobile Wallets:

Desktop wallets are handy, but only when you are at home. If you are out on the street, they are of no use. And this is the reason as to why these wallets are falling out of favor.

On the other hand, mobile wallets are more useful as everything regarding your bitcoins is just one tap away.

It doesn’t matter where you are, whether it’s a physical store, park or just a random street, if you have access to the internet, you can access your Bitcoin wallet and make transactions on the go. Some of the common bitcoin mobile wallets are Xapo, Mycelium, and Blockchain.

These wallets keep your bitcoin keys encrypted on the phone and also back it up on a web-based server.

Online Wallets:

Online wallets store user’s private key online and link it to mobile/desktop wallets. One of the biggest advantages of online wallets is that they can be accessed from anywhere regardless of which device you are using.

However, there is one major drawback: If a user fails to implement them correctly, it will put the organization running the website in charge of his private key which eventually takes his bitcoins out of his control. That could be a risky move, especially if you collect a lot of bitcoins.

Some examples of the best Bitcoin wallets online are:

Coinbase:

Coinbase operates worldwide. Users in the United States and Europe can also buy bitcoins through Coinbase exchanges.

learn more about how to buy Bitcoin with Coinsbase.

Circle:

Circle offers the feature to send, receive, store and buy bitcoins.

Strongcoin:

This service offers hybrid wallet which lets the users encrypt their private keys before sending them to its servers.

And Hardware Wallets:

Hardware wallets are dedicated devices that are used to facilitate payment and store private keys. Some examples of these wallets are Trezor Hardware Wallet and Ledger USB Wallets. These wallets are easy to carry in your pocket and can be physically moved from one place to another.

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Gatecoin CEO Predicts Bitcoin to Reach $5000 This Year.

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Gatecoin is a Hong Kong based cryptocurrency exchange that claims Bitcoin’s price is to reach $5000 by the end of 2017.

Headlined “Bloomberg Daybreak: Asia,” this price prediction was made during an interview with Aurelien Menant, Gatecoin’s CEO, and founder. He said that the markets are responsible for driving increased interest in Bitcoin.

“Another factor that is very important is the arrival of more and more institutional investors in bitcoin,” Menant said. “Historically we used to have a few hatch funds trading bitcoin in Europe and the U.S. Now we have around 60 or 70 of them that are starting to trade bitcoin.”

Some funds are now dedicated to digital currencies. “So, this is definitely driving a surge in the price,” he said.

 

News Credits: coindesk.com

Image Credits: steemit.com

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Four New Crypto Funds Are Being Launched by Bitcoin Investment Trust Creator

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On Tuesday, “Grayscale Investments” (company behind the Bitcoin Investment Trust) announced that four new investment products had been opened by it, through which investors will be provided with exposure to cryptocurrencies in a more acquainted wrapper.

Four New Crypto-Funds

So, let’s enlighten you about the new funds!

After Bitcoin Investment Trust, four latest crypto-funds have been also launched which are; Litecoin Investment Trust, Ripple Investment Trust, Ethereum Investment Trust, and Bitcoin Cash Investment Trust, as each of them will hold positions in single cryptocurrency.

bitcoin investment trust

Managing director of Grayscale Investments, Michael Sonnenshein stated;

“We are thrilled to expand Grayscale’s offerings to meet rising investor demand. Our team is committed to bridging the gap between the global investment community and the digital currency asset class. We remain focused on product creation and will continue to launch more single-asset and diversified products to provide exposure where investors are looking for it.”

Just like other products of Grayscale investments, new trusts like these will be offered in a private placement to the investors, who buy at least $10,000 worth of shares and succumb to a one-year conferring period. Ultimately, it’s expected that the trust sponsor will possibly seek to list these shares on OTC (over-the-counter) platform. If these shares are publicly-quoted, they’ll definitely have a lot more liquidity and through retail brokerage accounts they could be purchased.

Due to its heavy premium on the secondary market, it’s an anathema to many financial analysts, however, the Bitcoin Investment Trust has turned out to be very popular among buyers, and especially among those, who are worried to hold crypto-assets directly and want to gain exposure to the top-cryptocurrency through tax-fortunate retirement accounts.

Preceding to recent stock split of GBTC, it was a move that made the trust even more tempting to retail investors and left the trust among the most-purchased assets on investing app Stockpile, allowing investors to buy small shares of expensive stocks.

Grayscale Trust Offers Eight Investment Products

Overall, different eight cryptocurrency investment products are being offered by Grayscale, including;

  • Ethereum Classic Investment Trust
  • Zcash Investment Trust

Digital Large Cap Fund was launched by Grayscale last month, which is a cryptocurrency index fund, holding market cap-weighted positions in the top five cryptocurrencies. All of these cryptocurrencies are now available in separate funds, which means that when they’d be publicly-quoted, and investors could easily invest in the huge cap fund but, short any of the individual-assets on which they were bearish. Apart from GBTC, these products are available exclusively now, through private placement.

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Altcoin – Top 5 Altcoin Zoo with Animal Mascots

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Did you ever think about that how many currencies in the crypto market are using animals as their mascots??? Well, I don’t think so.

Today’s article is about top five altcoins with animals – by the way, all mammalian as mascots. Few coins are still active, whereas others are either past or resting at the pet mausoleum.

DogeCoin:

Dogs are the well-known devoted animal to humans. Nearly everyone has dogs as a pet. So, we will start with Dogecoin. In addition, this coin’s mascots are a specific dog – it is a doge, a Japanese Shiba Inu named Kabosu based actual meme dog.

Doge – a dog, not only a coin – became common in 2013. But, now no need to describe it more. Nonetheless, if you were living under last four years: the meme is a Shiba Inu picture with captions. These captions are decisively grammatically inappropriate. And, are assumed to reproduce the dog’s thoughts. Isn’t scary and such insecure, for example.

At the end of this year, Dogecoin was launched as Joke currency. This idea was belonging to the Billy Markus from Portland Oregon. Joke currency or not? but Dogecoin is still alive with the market cap of $344million.

TrueFlip:

A dolphin wearing glasses and a top hat. We know dolphins are intelligent and vastly social animal around the world. They have friendly nature and also trained to save lives of some people.

Basically, TrueFlip is a worldwide famous platform where you are allowed to buy tickets and win prizes in digital currencies.

Bitcoin blocks random hashes are openly used to draw some numbers for lottery and code used to run the game. This firm’s aim is to become world’s popular blockchain lottery. If this occurs, its jackpot would be high as $8 million worth of Bitcoin or maybe more.

altcoin exchange

NyanCoin:

We have another meme coin and this is Nyancoin, created on Nyan cat meme, an archenemy of dogs.

Nyan cat was turned to crypto-market early in 2014. Moreover, this word was derived from the Japanese word for cat’s meow. After a long relaxed, Nyan comeback this April with the market cap $394,000.

PandaCoin:

So, we are moving toward China now. Where we find big fluffy Pandas, who became the mascot. PandaCoin was launched on 14 February 2014, and now its market cap is around $1.5 million.

NeuCoin:

Fine, NeuCoin is a newbie to the world of altcoin exchanges. A blue squirrel NeuCoin’s mascot was belly up in late 2016. Just like a quick and small animal, the squirrel needs strong effort for effective ICO, who has a direct focus on tipping and micropayments. NeuCoin combined two games on one platform Facebook: Solitaire Racer and SongQuest.

So, Who’s next?

After the research, we can say that altcoin with animal mascots are on the way of fame. It is depending on the acceptance of the coin among the community.

 

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