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Crypto.com adds Litecoin to its MCO Wallet App Currency Lineup

Crypto.com, the payments and cryptocurrency platform formerly known as Monaco, has announced the addition of Litecoin (LTC) to its cryptocurrency application, the MCO Wallet App. Litecoin becomes the fifth virtual currency available on the MCO cryptocurrency platform, which is also tied to its MCO Visa card.


Virtual Currency Variety & Increased Use of LTC

The introduction of Litecoin adds to the platform’s original currencies which are Ethereum (ETH), Bitcoin (BTC), Binance Coin (BNB) and Crypto.com’s own MCO.

Users of the MCO Wallet App have adopted it for trading and tracking these currencies. According to Crypto.com, Litecoin has been added to the basket as an alternative that expands users options, brings variety and extends the platform’s use case.

In the official announcement for the new addition, Kris Marszalek,  Crypto.com’s co-founder and CEO said:

“By listing Litecoin on the MCO Wallet App, we are deepening both the functionality of the app for users and transforming into a go-to, intuitive cryptocurrency exchange platform. We look forward to continually and regularly expanding the variety of cryptocurrencies available to our platform users. Our support of Litecoin marks an essential step in this process as we strive to broaden the audience of cryptocurrency spenders and investors.”

The addition is also being celebrated by Litecoin, which is viewing the partnership as an opportunity to cast a wider net for users of the cryptocurrency.

Crypto.com’s application and metal Visa card represent additional touch points for people adopting Litecoin as a means of everyday transactions.

The announcement from Crypto.com also quoted Charlie Lee, the creator of Litecoin who said:

“Litecoin Foundation and Crypto.com share a common vision of accelerating the development and adoption of cryptocurrency. As Litecoin moves towards widespread acceptance as currency for a growing number of merchants, I’m excited to see Litecoin support added to the MCO Wallet App and the MCO Visa Card. We look forward to advancing the mission to expand cryptocurrency use together with Crypto.com by helping more users buy and spend Litecoins in their day-to-day lives.”

Crypto.com, the payments and cryptocurrency platform formerly known as Monaco, has announced the addition of Litecoin (LTC) to its cryptocurrency application, the MCO Wallet App.

BUILDING ON THE NEW BRAND

Despite being mired in controversies revolving around product revisions and premature partnership announcements in the past, Crypto.com appears to be building on its new brand and identity.

It’s also something that a new currency listing (which it says happens after careful review and consideration) could symbolize.

The adoption of a new name and brand that has a clearer tie to the cryptocurrency space, the addition of new currencies and ultimately the opening up of options for current and potential users might all indicate a new chapter for Crypto.com.

Is the addition of Litecoin enough to add to more value to the MCO Wallet App and the MCO Visa Card? Are there any other currencies that should be added to this platform? Please share your comments below.


Image courtesy of Crypto.com, Shutterstock

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Coinmarketcap Launches iOS Mobile App

· May 2, 2018 · 7:00 pm

Coinmarketcap (CMC) has released its first-ever mobile app. The cryptocurrency price and market capitalization website announced the release of the app on April 30. The launch of the app is part of CMC’s five-year anniversary celebration.


The Coinmarketcap App for iPhones

The new CMC mobile app is compatible with the iOS smartphone platform. It enables users to view crypto price, market cap and 24-hour price changes on the go. App users can select from a variety of filter options to see all tokens, the top 100 tokens or their watchlist tokens.

Watchlist tokens are specific cryptos that the users have selected. To include a cryptocurrency in the watchlist, users have to push the star-shaped icon on the token page. The app also uses tokens so people can record save and sync their watchlist between different devices.

The new app doesn’t appear to bring any novel feature. Many crypto traders already use different platforms to monitor price movements in the market.

Commenting on this observation, a spokesperson for CMC told TechCrunch that:

Are there other places where people can get the data and do we have copycats? Sure. However, we are the only site that you can guarantee is sourcing, gathering, and verifying the data itself, and we pride ourselves on being the first and best regarded within the industry.

Five Years in the Business

May 1, 2018, made it five years of CMC being in the business. The platform has grown tremendously to become the 175th most visited website in the world, according to Alexa rankings. Also, more than 60 million people have visited the site so far in 2018. The CMC Twitter account currently has 425,000 followers.

When CMC began, it was reportedly tracking seven cryptos and a few exchange platforms that amounted to about $1.6 billion in market cap. Presently, the website monitors over 1,600 cryptocurrencies and 200 exchange platforms that amount to more than $400 billion in market capitalization. In January 2018, a decision by the site to delist South Korean cryptocurrency exchange platforms caused a wave of massive panic selloffs.

Rebranding the Coinmarketcap Platform

The website has also made some changes to its brand image with a new logo, color scheme, and font. The new Coinmarketcap logo contains the CMC initials and a wavy design that depicts the volatile nature of the crypto market. CMC has also made changes to the website API. The website still plans to release a new commercial API that includes historical data.

A statement by CMC commenting on these latest developments said that:

We pay close attention to the needs of our users and always encourage people to leave us feedback. We are hard at work to bring you more features that will give you more control over your experience while exploring our data.

Do you think the Coinmarketcap mobile app will be as popular as the website? Please share your views in the comment section below.


Images courtesy of Coinmarketcap and Twitter.

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Úno 17

Chicago Trader Steals Over $2 Million in Bitcoin and Litecoin Cryptocurrency

· February 17, 2018 · 10:30 am

A Chicago trader is facing up to 20 years in prison for stealing over $2 million in Bitcoin and Litecoin cryptocurrency from his employer.


Most 24-year-olds would be quite happy to be attached to a new cryptocurrency unit for a major financial entity. That’s not a bad career path for someone who previously worked as a cryptocurrency trader in South Korea before joining Consolidated Trading LLC to become an assistant bond trader in July 2016. A new department looking to dive into the burgeoning crypto world is a great stepping stone for moving up. That is unless that person is a degenerate gambler. Such is the case of Joseph Kim, who stole over $2 million in Litecoin and Bitcoin cryptocurrency from his employer.

Chicago

Stealing Begins Almost Immediately

The cryptocurrency group was created by Consolidated in September 2017, and Joseph Kim joined the unit sometime during that month. He had his own personal cryptocurrency accounts, which he informed his employer of, and he was told to cease all personal trading to avoid a conflict of interest.

However, Kim transferred 980 litecoins (worth $48,000) on a weekend shortly after joining the new unit. When a supervisor found out, Kim said he transferred the coins to a “personal digital wallet for safety reasons” due to issues he was having with Bitfinex, the cryptocurrency exchange in Hong Kong. He then said that the coins had been transferred to a Consolidated wallet (which was untrue).

In November, the trader then sent 55 bitcoins (value of $433,000) from Consolidated into an unknown account. When confronted on this transfer, Kim said that the transfer had been blocked and that he was taking steps to unblock it. He later sent back 27 bitcoins into the corporate account, leaving 28 in his possession.

The Sizes Get Bigger

Eventually, Kim transferred 284 bitcoins (worth $2.8 million) from the company’s account into a personal wallet. He later sent back 102 of those coins into the Consolidated account, after which he then transferred the remaining 182 coins into a different account. Of that last amount, Kim lost a portion of it by personally trading.

Cryptocurrency gambling

When eventually confronted over all the transfers, Kim admitted to investing in short future positions using 55 bitcoins. He continued stealing cryptocurrency from the company to cover his margin calls, losses, and personal investments. After being arrested, Kim said that he was a degenerate gambler and admitted to converting the stolen Litecoin into Bitcoin for investment purposes.

Eventually, Consolidated managed to recover roughly 144 bitcoins from Kim’s various personal wallets. The financial company lost about $603,000 overall from the rogue trader’s gambling addiction.

In an email to his superiors at Consolidated, Kim said:

It was not my intention to steal for myself. I was perversely trying to fix what I had already done. I can’t believe I did not stop.

Investment gambling is real, and cryptocurrency is just a new avenue for some to indulge in the practice. The US Attorney has charged Joseph Kim with wire fraud, which could net him up to 20 years in prison. Kim has also made history, of a sort. He’s the first person in Chicago to be charged with wire fraud in regards to cryptocurrency.

Do you think that we’ll see more cases of traders pilfering cryptocurrency to fuel their gambling addiction in the future? Let us know in the comments below.


Images courtesy of Pixabay and Bitcoinist archives.

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Led 26

Katy Perry Showcases Her Crypto Claws

· January 26, 2018 · 7:00 am

Katy Perry is the latest celebrity to jump on the cryptocurrency bandwagon, recently posting an image of her crypto-inspired nails.


You know a particular thing has hit the mainstream when you see celebrities flocking to be associated with it. In their never-ending quest to stay in the public eye and remain relevant, they’ll glom onto the latest trends and hold on for dear life. The latest example is Katy Perry, who has definitely jumped onto the Bitcoin and digital currency bandwagon. She recently posted an Instagram image of her cryptocurrency-themed nails.

Bitcoin Going Hollywood

In her Instagram post that’s captioned “$—CrYpTo ClAwS—$,” Katy Perry sports some eye-catching fingernails. Her nails are embossed with the symbols of some of the most popular cryptocurrencies out there.

Naturally enough, we see Bitcoin taking center stage on one hand. Her thumbs boast the popular Ethereum cryptocurrency, and her remaining digits feature the likes of Litecoin, Stellar, and Monero.

This isn’t the first time Perry has flirted with cryptocurrency. Back in November 2017, she posted an image of her talking to investor Warren Buffett. In the post, she says that she’s asking Buffett his thoughts on cryptocurrency. (Hopefully, she did not follow his advice.)

Celebrities and Crypto

However, Katy Perry is certainly not the first celebrity to jump on board the crypto bandwagon, and she definitely won’t be the last. Floyd Mayweather was one of the first celebs to tout crypto by hyping the Stox ICO. He later pushed digital currencies by posting an image of him holding a Titanian Centra debit card, which is a card for various cryptocurrencies, while in an upscale shoe store.

The saddest case of a celebrity tying themselves to Bitcoin and other cryptocurrencies is Paris Hilton. She hyped the ICO of a marketing platform called LydianCoin. However, she quickly deleted any endorsements after people pointed out that the person behind the project had been convicted of domestic assault.

Chances are that we’ll continue to see celebrities pushing themselves onto the crypto scene. Some may have a legitimate interest, but the majority will probably be doing it for the publicity. However, one wonders how many crypto projects will pay for celebrity endorsements in the future. ICOs raise a ton of cash, some of which could be used to hire a famous spokesperson.

What do you think about Perry’s crypto claws? Will we see more celebrity endorsements of cryptocurrency in the future? Let us know in the comments below.


Images courtesy of Instagram/@katyperry, Twitter/@FloydMayweather, and Wikimedia Commons.

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Crypto Movers and Shakers of 2017

· December 30, 2017 · 5:00 am

This year has been nothing but monumental for cryptocurrencies and the blockchain industry. Maybe we will look back on it in years to come and see 2017 as the genesis of a new way of blending business and technology. 2017 could be seen for crypto as 1995 was for the internet, when things really started to take off. Bitcoin has been around since 2009, although, for many years, it has been seen as largely a geeky thing to mine and invest in. The king of crypto has only hit the mainstream in the last few months, but it has cemented its place there.


Bitcoin and its various forks aside, this piece will focus on the altcoins which most of us hadn’t even heard of at the beginning of the year. There has been a digital explosion in ICOs in the past six months, with blockchain companies mushrooming out of nowhere and conjuring up solutions to real world issues. Some coins are just that, virtual currencies, but some try to break the Bitcoin mold of digital money and offer innovative new technology for data management and distributed ledger applications.

Genesis mining ethereum

Ether Rising

Ethereum has to be right up there with game-changing cryptos for the past year. The decentralized application platform has jumped from relative obscurity in January, trading at $10, to a whopping $700 today. The 7000% increase in Ether this year has secured it the second highest crypto currency by market capitalization with $70 billion for most of the year. Big things could be in store for ETH in 2018 when the platform is upgraded, scaling issues are solved, and more applications start using it.

Another coin that has made big moves in 2017 is Ripple. Many traders are skeptical about this one due to its close ties with traditional financial institutions and banks. However, these connections have just propelled the altcoin to second spot in the market capitalization charts. XRP was pretty much unknown at the beginning of the year, trading at $0.006, but it has since skyrocketed to over $2.50, where it currently trades due to a number of deals with major banks and credit card companies. The XRP blockchain will be used as a faster, more secure, and efficient way of inter-bank transfers. If it becomes the standard for such transfers, that price is sure to continue upwards.

Litecoin

Litecoin Lifted

Another one of 2017’s champions is Litecoin, which is often referred to as the silver to Bitcoin’s gold. LTC has made epic moves on the tail of its big brother, trading around $4 in January to over $240 today. Compare this 6000% rise to Bitcoin’s 1500% and it is clear that the altcoins have made bigger moves. With an improved blockchain affording faster and cheaper transactions, Litecoin is destined for greater acceptance in 2018, which will no doubt send that price higher than the record $375 it reached earlier this month.

Dash has also had a very good year, starting out at around ten bucks in January, and motoring to dizzying heights of $1,500 in mid-December before pulling back to around a thousand. The popularity of Dash arises from its security and privacy, and anonymous coins will be in increasing demand throughout 2018. Dash could go higher in the new year, as could similar cryptos, such as Monero, Zcash, Zcoin, and Verge, who are all heavily weighted towards privacy.

dash

There are too many altcoins to list in total, and nearly all of them have increased in value exponentially since the beginning of 2017. Some are destined for greater things in the coming year. Keep an eye on Iota, Cardano, Neo, Nem, Stella, Qtum, Lisk, and OmiseGO. Invest wisely and always do your own research.

[Full disclosure: The author of this article is a holder of multiple altcoins.]

Will you be increasing your altcoin portfolio in 2018? Let us know your favorites in the comments below. 


Images courtesy of Bitcoinist archives and Pexels.

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