Litecoin, the silver to Bitcoin [BTC]’s gold, has gained far more adoption than any other cryptocurrencies as its supporters are constantly working to further its adoption. With the efforts of enthusiasts in the community, Litecoin has finally stepped into the global stage of Ultimate Fighting Championship [UFC].

Litecoin has now become the official cryptocurrency partner of UFC 232: Jones Vs Gustaffson, two light heavyweight fighters which are scheduled to be held on December 29 in California. This partnership of Litecoin makes it the first cryptocurrency to sponsor mixed martial arts organization, UFC.

Charlie Lee, the creator of Litecoin, tweeted:

“Excited to announce that the Litecoin logo will be on the canvas as the Official Cryptocurrency Partner of @UFC 232 on 12/29 in Inglewood CA!”

As per Lee’s tweet, the Litecoin’s logo “LTC” will be displayed on the canvas, promoting awareness to millions of viewers watching the fight and helping push LTC adoption to next level.

The Litecoin Foundation also posted about this news on their blog. It stated:

“We view this sponsorship as the first step to what will hopefully be a long and fruitful relationship with UFC. We look forward to the possibility of doing some amazing things with this incredible organization.”

Charlie Lee, the man behind Litecoin, has always been pushing cryptocurrencies as they have the sound money properties that the fiat currencies lack. With this adoption of Litecoin, Lee’s dream of educating people about decentralization and sound money properties comes an inch closer to reality.

Brad Nickel, a Twitter user, commented:

“I like Litecoin, but this is yet another example in crypto of bad branding and marketing choices. If you are sponsoring race cars, pro wrestling, or UFC, then you haven’t thought about target markets or don’t know what one is.”

Tastes Like Chikun, another Twitter user, replied to the above comment:

“Crypto Twitter is an echo chamber. The only people hearing what you just said are #Crypto followers. This is a poor negative response to a positive situation based only on drawing attention to yourself.
You must be targeting the unhappy middle-aged man demographic. U nailed it.”

*This post is credited to AMBCrypto

NTERNATIONAL – After one of the worst stretches of losses for cryptocurrencies on record, enthusiasts are taking comfort in a recovery in prices of digital assets including Bitcoin, Ether, EOS and Litecoin.

“It seems as though there’s a broad crypto bounce with all main coins up,” David Thomas, director and co-founder at GlobalBlock, said in an email. “It will take a concerted move higher in cryptocurrencies in order to signal an end to the crypto crash.

After such a big move lower this year, there comes a point when investors see value in getting back into the market and that seems to be the case today.”

For Ether, a technical gauge suggests the bounce could be just the beginning. The GTI VERA Convergence Divergence Technical Gauge, which investors use to detect trend reversals, showed a positive signal Monday for the first time since late September.

The trend may indicate more gains to come and a potential year-end rally. The last time the technical gauge pointed to potential buy signals, the token rose for about a month.

Ether rose as much as 18 percent to $96.73 in New York Monday, its first gain in three days but the third-largest cryptocurrency has been stuck in a prolonged downward slump recently and has lost nearly 90 percent of its value since February.

Bitcoin rallied 12 percent, EOS surged 36 percent and Litecoin jumped 31 percent.

“There is good backup to that argument that there’s been such punishment beyond what anyone previously thought and therefore maybe this is the bottom,” said David Tawil, president of ProChain Capital, in a phone interview. “But I don’t think one day makes a pattern.”

*This post is credited to Independent Media

Litecoin has been trying to expand their reach and has received massive adoption lately, with the latest being used an integral part of the Coindriod game. The cryptocurrency game has raised a lot of eyebrows in the crypto-community due to its creativity and adoption of various cryptocurrencies in-game like Litecoin [LTC], Dogecoin [DGC] and Bitcoin [BTC].

The Coindroid creator Josh, in a podcast, said that he was inspired by SatoshiDice, a Bitcoin game, and decided to develop a game like SatoshiDice, but by taking it further and making it skill-based.

He said that they were researching a lot of cryptocurrencies that would fit the ideas they had for the game. He continued:

“Litecoin just seemed like the natural fit. It’s got a really nice fast block time, great fees, it just made a lot of sense for our game in our in coin droids. And you’re transactions in the game are about 13 – 14 cents, So doing that inside Bitcoin didn’t really make sense for fees perspective, but also 10-minute blocks ends up being almost a little bit too slow for the game”

In a spat between Roger Ver, Jihan Wu and Craig Wright on BCH fork, Charlie Lee weighed in supporting the latter saying:

“Bitcoin Satoshi Vision is the real Bitcoin Cash. Karma’s a BCH”

Litecoin is gaining traction as it is being used for payments at various restaurants across the US. Furthermore, a place called Sendai Sushi is accepting payments in Litecoin.

Lite.IM is a project that was launched by Zulu to enable SMS payments. With Lite.IM Litecoin transactions can be done using Facebook messenger. The integration of Lite.IM allows access to cryptocurrency over 2 billion people on Facebook.

*This post is credited to Amb Crypto

eToro, the global investment platform with over 10 million registered users, today confirms the roll out of its crypto wallet.

The eToro wallet is a mobile application available via Google Play and the Apple App Store. It provides an easy to use customer interface and enhanced security. Multi-signature* security gives users the ability to see their on-blockchain transactions and balances without the fear of losing their private key**.

Yoni Assia, CEO of eToro comments: “We believe that crypto and the blockchain technology that underpins it will have a huge impact on global finance. Blockchain has the potential to revolutionise finance and we believe that we will see the greatest transfer of wealth ever onto the blockchain. We believe that in the future all assets will be tokenised and that crypto is just the first step on this journey. Just as eToro has opened up traditional markets for investors, we want to do the same in a tokenised world. The eToro wallet is a key part of this.”  

In order to ensure the best customer experience for clients, eToro is launching its crypto wallet on a phased basis both in terms of users, with a country by country roll out, and functionality.

At launch, users will be able to store Bitcoin, Bitcoin Cash, Ethereum and Litecoin in their eToro wallet. The number of supported cryptos will increase over time just as eToro has increased the number of cryptos available on its platform.

Initially, the ability to transfer crypto from eToro to the wallet will be available to Platinum Club*** members for Bitcoin. This will gradually be extended to more users and a greater number of crypto assets.

Yoni Assia continued: The eToro wallet today is just the beginning and we will adding a whole host of additional functionality which will include supporting additional crypto and fiat tokens, crypto to crypto conversion, the ability to deposit fiat, payment in store and more.”

About the wallet:

The etoro wallet is provided by eToro X Limited (“eToro X”).  eToro X is incorporated in Gibraltar with company number 116348, registered office 57/63 Line Wall Road, Gibraltar (“eToroX”). eToro X have received an ‘in-principle’ approval from the Gibraltar Financial Services Commission in respect of its application for a Distributed Ledger Technology (DLT) Provider Licence application.

About eToro:

eToro empowers people to invest on their own terms. The platform enables people to invest in the assets they want, from stocks and commodities to cryptoassets. eToro is a global community of more than ten million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.

eToro is regulated in Europe by Cyprus Securities and Exchange Commission and regulated by the Financial Conduct Authority in the UK.

Cryptoassets are unregulated and can fluctuate widely in price and are, therefore, not appropriate for all investors. Trading cryptoassets is not supervised by any EU regulatory framework. Your capital is at risk.

*This post is credited to Paymentweek

There’s no secret that Bitcoin suffers from slow and expensive transactions. In December 2017, an average transaction fee was over $30 and a confirmation process was taking about 30 minutes! Now the numbers are much lower, but scalability remains the biggest issue Bitcoin has yet to solve.

Many crypto enthusiasts believe that the Lightning Network will bring new solutions that will affect a lot of currencies. It is an off-chain technology, which can significantly decrease both the speed and the price of BTC transaction. However, some claim that it will be not Bitcoin but Litecoin benefiting most from its launch. In addition to fast and cheap transactions, the technology introduces so-called ‘atomic swaps’ that allow for cross-chain cryptocurrency exchange. As Bitcoin and Litecoin are among the first to utilize the LN upgrade, the level of interoperability between the two coins will increase. In layman’s terms, with the Lightning Network implementation, the number of ways to exchange Litecoin for Bitcoin and vice versa will increase. Let’s say, if a BTC holder wants to use a cheaper LTC for daily micro-payments, they do not need to go for a crypto exchange to buy Litecoin first; they can simply perform an atomic swap between two blockchains. Seems catchy, doesn’t it? Let’s go deeper into how the Lightning Network works and how it will change the balance of power in the crypto market.

What is the Lightning Network?

The Lightning Network is an off-chain system of payment channels powered by smart contracts and designed to facilitate direct deals between users. It can work on Bitcoin’s blockchain or any other, and be used to exchange different coins cross-chain owing to the Atomic Swaps technology. The Lightning Network wallet address is accessible to two users who want to make a deal – they input the number of coins to be spent and confirm the transaction. The contract will be finalized only when both parties sign it. At any time, any user may close their unique channel, so the latest information about transactions and balances will be sent to Bitcoin’s blockchain.

What does this mean for regular crypto investors? Using the Lightning Network, they can make deals without synchronizing with blockchain all the time. Data about transactions will be transferred via off-chain payment channels.

How will it affect Bitcoin?

The Lightning Network was designed to make payments more convenient and attract more users. This system may be completely game-changing for Bitcoin. For now, most users consider BTC as a store of value but not as a payment method because of the high fees and slow processing times. With the Lightning Network, Bitcoin will be able to become cheaper and more efficientwhich is going to be a clear competitive edge over some altcoins.

Transaction speed

Bitcoin’s blockchain is based on the Proof-of-Work algorithm. It means that miners confirm on-chain transactions. They can decide in which order to verify deals and will obviously choose ones with higher fees first.

How the Lightning Network can help here? It eliminates miners’ verification step and increases the speed of transactions’ processing. Off-chain deals will be done instantly.


Bitcoin – the current price of which is over $6,400 – can be divided into smaller parts called Satoshis. One such unit is equivalent to 0.00000001 BTC. As you can see, a lot of Satoshis are needed to form even the tiniest sum in cents.

At the moment, the fees are too high which makes small deals inefficient. Say, an average fee of $0.2 makes purchasing coffee or paying for a subway ticket with BTC unreasonable. In contrast, Litecoin offers $0.04 fees, which makes it a perfect cryptocurrency for micro-payments.

Implementation of the Lightning Network can result in reducing fees and making micro-payments with Bitcoin more realistic. All transactions will be based on smart contracts, and the system itself will control the processes.

Possible drawbacks

Behind its intention to solve the fees problem, there are some controversial features in the Lightning Network. It has its own fees for opening and closing a payment channel and for transferring assets between channels. At the moment, the latter fee is zero, but the situation can change.

Also, the Lightning Network usage can result in making more on-chain transactions if your wallet fails to find a route to the receiver. In this case, a user will have to make two transactions of opening and closing a channel in order to meet a payment eventually.

There’s also an issue of how widely it will be used which is linked to the general adoption of cryptocurrencies.

How will it affect Litecoin?

Litecoin is considered to be silver in the world where Bitcoin is viewed as digital gold. Originally, LTC is Bitcoin’s fork designed to provide faster and cheaper deals.

What impact can the Lightning Network have on this currency? Skeptics claim that it will disintegrate Litecoin as investors will prefer using fast and cheap Bitcoin as more famous and trusted asset. If BTC will actually solve its scalability issues, nobody will need other currencies to perform the same tasks.

On the other side, optimists argue that Litecoin can survive as a secondary chain. The project’s founder Charlie Lee claims that LTC will always remain cheaper and faster than BTC, and the Lightning Network can only contribute to Litecoin’s wider adoption.

To sum it up

The Lightning Network is designed to make blockchain transactions instant and cheap. While the major cryptocurrency still tries to deal with the problem of scalability, this technology seems to offer a solution. But it could be not that simple. The success of implementing the Lightning Network depends on various factors: the general crypto adoption, the usage of altcoins that provide speed improvements and lower fees compared to BTC, or contradictions over the technology’s nature itself.

This article was originally posted on FX Empire

In a twitter announcement back in mid September, the team at the Gemini exchange had notified the crypto community that they were working on listing Litcoin (LTC) on the platform. The tweet went on to explain that support for LTC would become available as early as today, October 13th. The full tweet can be found below.

View image on Twitter



LIVE from the @LTCFoundation Litecoin Summit, “We are pleased to announce Gemini will be launching Litecoin support starting October 13th, 2018!” –@eric_winer #LTCSF18 #tothemoon

Trading To Commence on the 16th of October

The exchange which is owned by the Winkelvoss twins, has since got the necessary approval from the New York State Department of Financial Services (NYDFS) to offer trading services for Litecoin. In the announcement by the VP of Engineering at Gemini, Eric Winer, deposits will be available today the 13th of October. However, full trading capability will commence on the 16th. The announcement also gave the available trading pairs for the digital asset as follows:

Beginning Saturday, October 13th at 9:30am EDT you will be able to deposit Litecoin into your Gemini account. Trading will begin on Tuesday, October 16th at 9:30am EDT. Litecoin (LTC) is the fourth digital asset available on the Gemini platform, joining Bitcoin, Ether, and Zcash. As a result, we will be offering the following new trading pairs and services:

Charlie Lee Working to Make LTC great again

Back in July, the founder of Litecoin, Charlie Lee, had informed the LTC community that he was doing all he can to make Litecoin great again. His exact statement was as follows:

I’m trying my best to get LTC to $400 so people like you will stop shitting on me all the time. Who abandoned LTC?!

Since then, we have seen the Litecoin foundation sealing a critical partnership with Token Pay. The partnership included the Litecoin Foundation owning the 9.9% at the WEG Bank that was previously owned by Token Pay. The two firms agreed on working towards the common goal of eventually issuing crypto backed debit cards.

With the Gemini exchange supporting LTC, things are looking up for the digital asset.

*This post is credited to Ethereum World News

North Korea is “increasingly” using cryptocurrencies to evade sanctions imposed by the U.S., according to two Washington-based experts cited by news site Asia Times on September 24.

Lourdes Miranda and Ross Delston sent a joint response to an Asia Times’ inquiry regarding the use of crypto by the government of North Korea (DPRK). Miranda is an independent financial analyst and a financial crimes investigator, and Delston is an independent attorney and expert witness in money laundering cases.

Both experts have claimed that the country is successfully trading existing cryptocurrencies, and is attempting to create one of its own, despite current restrictions imposed on fiat assets:

“International criminals everywhere prefer crypto-currencies and the DPRK is no exception. Crypto-currencies have the added advantage to the DPRK of giving them more ways to circumvent U.S. sanctions. They can do so by using multiple international exchangers, mixing and shifting services — mirroring the money laundering cycle.”

Miranda and Delston further explain the scheme that they allege is in use by North Korean authorities.

Initially, the government hires people who have convenient personal identifiable information (PII) to open a crypto wallet that can be used to trade cryptocurrencies. Then local miners transfer crypto into “multiple” European wallets, where they are mixed and shifted in order to confuse anti-money laundering and know-your-customer (AML/KYC) systems.

The process ends with North Korean nominees buying bitcoins, which are later converted into other popular cryptocurrencies, such as Ethereum or Litecoin, to break the “linear pattern of transactions.”

As the crypto asset’s point of origin is concealed, the North Korean government then has a chance to exchange “laundered” coins to fiat, thus receiving dollars without any sanctions attached, the experts concluded.

Miranda and Delston did not specify the approximate volume of the operations they described, nor did they reveal the source of their information.

As Cointelegraph reported in August, an earlier report by a South Korean bank revealed that North Korea had attempted to mine Bitcoin between May and July 2017. However, the test was then reported as unsuccessful. The report also contained data on attempts to create a North Korean crypto exchange.

Countries pressed by U.S. economic sanctions are often reported as experimenting with crypto. For instance, Venezuela launched its controversial “oil-backed” Petro coin, which some experts claim barely exists.

Iran is reportedly preparing to create its own national cryptocurrency, which is expected to facilitate international transactions for the country sanctioned by the U.S. for launching a national nuclear program, among other things.

*This post is credited to CoinTelegraph.

In a fireside chat with Thomas Hu, founder of Kyber Capital, Litecoin founder Charlie Lee sat down with CoolBitX CEO Michael Ou to analyze what it means to be your own bank by using cryptocurrencies and their underlying blockchain technology. They cover issues surrounding mainstream adoption, stablecoins and certain features that can improve Bitcoin and Litecoin.

“If people are using cryptocurrencies instead of other forms of money like fiat, then we’ve achieved mass adoption,” says Lee. He adds that it’s going to be a long road and that the crypto community is making a lot of improvements. Last year he pushed for second-layer solutions such as SegWit and the Lighting Network to help with scaling, speed and privacy. As engineers work behind the scenes on delivering a more robust system, he says the key is the UX and making it easy for people to use.

“With cryptocurrency you are your own bank, so you have to actually protect your own coins. And a lot of people have failed to do that and lost coins because they stored it on an exchange that got hacked or they used an insecure wallet or they printed it out on a piece of paper and lost it. So it’s very easy to lose your funds from hacking or by accident. So hardware wallets, especially easy ones to use like CoolWallet, is a really important step towards making it easy for regular people to secure and spend their coins.”

Ou breaks down the full scope of financial freedoms cryptocurrencies can bestow on users.

“Being your own bank is apparently one of the greatest ideas ever since we’ve had traditional financial systems because with wallets like the ones we’ve built, the meaning of being your own bank becomes literal. There will be no one able to stop you from sending your money to somewhere you want or there will be no one able to freeze your assets, and there will no one to tell you, ‘Ok, today you can only send $500 to your friends somewhere else.”

Hu asked Lee and Ou if they believe that crypto developers have not been clear enough about what it means for people to be their own bank. Since mainstream institutions already have brand recognition and some degree of trust among consumers, and now that they’re “trying to come in to take control of the industry, to some degree,” are crypto organizations like Litecoin well positioned for mass adoption.

Lee explains how Litecoin can become a major force for mass adoption and why the trade-off isn’t necessarily between using the custodial services of a bank or rejecting banks and standing alone, assuming all risk, to become your own bank.

“I see Litecoin as complimenting Bitcoin to serve alongside Bitcoin as sound money. I think that with being your own bank, it’s true that with cryptocurrency you get freedom of money so you have control of your own funds. So no one can tell you that you can’t spend money to play poker online, for example. But also, with that, you have to protect your own money. But that doesn’t mean third-party solutions can’t help.

Hardware wallets or even centralized solutions can help secure. So you have bank-like products like Coinbase, for example, where people trust them to secure the funds for you. So you deposit your funds with them. But the great thing about cryptocurrency is that it’s open. You can always pull your money out of Coinbase and put it somewhere else if you don’t like them. So transferring on the blockchain, the Bitcoin Litecoin network, is secure and it’s not censorable.”

According to Lee, there’s no one-size-fits-all approach to managing your coins. Consumers have a number of options and they can choose the method that works best for them.

“So there will be some people who actually hold all their coins themselves. It’s kind of like holding cash in your house under the mattress. You can always do that if you choose to. You have to protect it yourself. Or you can put it in a ‘crypto bank’ and have other people help you protect it. Or you can use hardware wallets and make it a lot safer. So I see multiple ways to achieve mass adoption where people can use crypto without really being a security expert themselves.”

Regarding stablecoins, Lee says they’re a part of the USD market and that they’re not taking any market share away from Litecoin, Bitcoin or any other cryptocurrency.

“I’m not sure if there will ever be a decentralized stablecoin that actually works,” he says. “But definitely there will be centralized stablecoins like Tether.”

Lee believes stablecoins could also be used to spend like regular money, if that’s better for merchants. Consumers can then choose, for example, to hold Bitcoin or Litecoin, if they believe it’s the better store of value, and then convert their investments to a stablecoin to spend.

“Governments, and even potentially the US government, might do their own stablecoin,” says Lee, “and that’s going to be a really powerful coin because it’s backed by the government. And that’s fine because fiat is backed by the government.”

Creating more options and more interoperability strengthens the cryptocurrency ecosystem. Lee points out that the Lightning Network, in addition to tackling scalability, is important because it can connect different currencies like Bitcoin and Litecoin. That allows someone to send Litecoin, in a decentralized manner, and then the recipient receives Bitcoin, and vice versa. So if a merchant only accepts Bitcoin and a customer only has Litecoin, the transaction can still happen.

“I think fungibility is one of the main features of money that is missing in cryptocurrency, or at least in Bitcoin and Litecoin, and I think that’s something I want to see improved where people have their privacy when spending money. So eventually, if people get paid in cryptocurrency or if you get your salary in cryptocurrency, you don’t want to expose that to Starbucks when you buy a cup of coffee. Because right now, you will. If you spend that money to buy something, the recipient will see it publicly on the blockchain, and see how much money you have.”

In addition to adding privacy features to Bitcoin and Litecoin, Lee would like to see other scaling solutions. “For mass adoption, Lightning Network is one way to scale. There are other ways to help scale the network to support a lot more users.”

The Litecoin Summit will be held on September 14-15 at the South San Francisco Conference Center.

*This post is credited to Dailyhodl

Cryptocurrency exchange Coinbase CEO Brian Armstrong predicts the number of  people in the cryptocurrency ecosystem to grow from the current 40 million to 1 billion in the next five years, TechCrunch reported September 7.

In an interview with TechCrunch, Armstrong projected that the crypto ecosystem and the total number of digital currencies will grow substantially, attributing the growth to commercial organizations which develop their own tokens. The tokens would reportedly function together with equity as an alternative investment system. Armstrong explained:

“It makes sense that any company out there who has a cap table should have their own token. Every open source project, every charity, potentially every fund or these new types of decentralized organizations [and] apps, they’re all going to have their own tokens.”

Addressing the issue of regulation as one of the crucial factors for implementing his vision, Armstrong called it “a big open question,” and noted that it remains to be seen whether the majority of tokens will be recognized as securities. He said that Coinbase does “feel a substantial subset of these tokens will be securities.”

Armstrong added that Coinbase could host hundreds of tokens within “years” and potentially “millions” in the future.

In order to become a fully-regulated broker-dealer and “offer future services that include crypto securities trading, margin and over-the-counter trading,” Coinbase acquired securities dealer Keystone Capital Corp. in addition to Venovate Marketplace, Inc., and Digital Wealth LLC. The acquisition could help the company subsequently expand into non-crypto financial products.

Yesterday, Coinbase announced it will launch trading of four more cryptocurrencies for the U.K. pound sterling (GBP). British customers will now be able to trade altcoins Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC) and Bitcoin Cash (BCH) for GBP, in addition to the existing Bitcoin (BTC).

*The post is credited to TheBitcoinNews

Good news for gamers and blockchain enthusiasts. Earlier this week, CryptoMonsters was successfully launched.

The peculiar app offers users a set of collectible figures with concepts and features similar to other famous games like crypto kitties, but with the difference that instead of running on the Ethereum network, the CryptoMonsters will “live” on the Litecoin Blockchain.

The game is about evolving a monster through various actions that will be recorded in the blockchain from its birth to its death. The Game’s official website explains its concept in a simple but exciting way:

“This is a new type of game based on the Litecoin blockchain technology. It represents a virtual world, inhabited by CryptoMonsters, which are constantly evolving and interacting with each other.!”

During its first stage, the game allowed early users to get a free monster, however, once the game was released, the number of monsters available ran out. Users must purchase one of the monsters available on the market, which are worth approximately $500 to $500 depending on a multitude of factors such as rarity, strength, level, etc.

Monsters have a level ranging from 1 to 200. Currently, there are no top-level monsters because of how young the game is, however, it won’t be long before users see highly evolved monsters once the game becomes more mature and active.

Players have the option to split their monster (getting 2 lower level monsters) or to mature and evolve their creature to level it up.

Naturally, as in many similar games, evolution involves complex and risky tasks such as taking on other monsters in combat. Should a monster win the fight, it will increase its level, of course, it will also lose it if it is not victorious in battle.

Each monster acquires part of the stats of the loser. If a monster falls below level 0.2, it dies, or as the game says, “ascends to crypto monster paradise” to meet its creator: CryptoGod.

The game has been a complete success. According to CryptoMonsters’ Official Twitter, the platform registers a number of 2.3 new users per second, which is a sample of its potential to become Litecoin’s Cryptokitties.

*This post is credited to Ethereumworldnews.