After being announced by the Litecoin foundation before Christmas, rumours abound that this is the week that the crypto world will take a giant step forward towards mainstream acceptance with the launch of LitePay, and this could just be the news that puts back a spring in the step of the community after a month of bad news and dramatic slides.
LitePay lifts crypto out of the cyberzone and dumps it firmly into a real world application by allowing the business world to accept payment in Litecoin from anywhere in the world.
It's in the transaction speed and cost that Litepay has the march on Bitcoin. Whilst Bitcoin is still taking around $5.00 in transaction charges and taking forever to confirm transactions, Litepay will simultaneously process the payments and settle directly with their banks, thus taking out the risk of volatility traditionally associated with Cryptocoins. Litecoin users will also be able to convert Litecoin to USD and vice versa through a planned Visa compatible LitePay card with which users will be able to get cash out from ATM's and buy goods and services from any retailer or ATM displaying the Visa logo.
Non US customers will of course, be able to pay for goods and services in USD directly meaning no ridiculous conversion charges, just a seamless and no cost transaction.
Whilst Bitcoin fights to roll out the Lightning network and suffers in Europe after Visa removed support for its BitPay card late last year, Litecoin continues to go from strength to strength. After a shaky month in which Litecoin, following Bitcoins lead dropped in price from its December high of £325 to its current and now rising price of £160, could it now break its fiscal ties to the BTC price and stride out alone with renewed market confidence?
As Bitcoin fans continue to try and convince us that Bitcoin was never meant to be a true usuable currency (despite what its white paper says) and keeps insisting its more like Gold2.0, this week could be a real breakout week for Litecoin.
I for one have no intention of missing the ride. Another step in the right direction for a more mature, stable and purposeful Cryptoworld.
Read more about LitePay here
I'm really excited about this coming out as it is another great step in crypto adoption. Realistically though, Litepay is less convenient than something like tenx that let's you use any crypto you want
It is, but its in house and is becoming a 'trusted' brand. But like you say, its brilliant news. If you scrape through the doom and gloom of the tumbling prices recently, there is some really good things happening on the mainstream adoption front, which for me is of primary importance as a long term investor.
I see LTC price today up 22% and more importantly, up 17% against BTC.....someone knows something I think.
Cheers for commenting :-)
well said. I see quite a future in the long-term and this is great news in the fact of adoption.
I have a little bit of love-hate relationship with LTC. I love it because it is easy to get (through Coinbase, even if fees are high), then I can move it around cheaply to exchanges and convert it to almost whatever I want.
Hate because from my experience it loses value quite quickly (especially when I just bought it) and takes it time to recover :(
LitePay may change it as being a gateway in different direction - from crypto world into real objects world. I am buying LTC today :)
Hope you bought it and are enjoying watching it rise today!
Thanks for dropping by :-)
bought some and hodling now :D
Mr. You have presented your work in a very nice way. Thank you very much for your work. I am very respectful of your work.
Thank you. I really appreciate your comment :-)
thanks. Hope you're happy and healthy in your little corner if the world :-)