The cryptocurrency markets have descended several times right from the beginning of 2018 as start has not been soo good so far. One after other bad news for cryptocurrencies and media parallelly bullying led crypto markets to one of the major declines as a result of which majority or cryptocurrencies are riding a downward hill.
LitePay users will be able to convert Litecoins to dollars and vice versa through the Visa-compatible LitePay cards, which can be used at all cash points or business that support Visa payments.
The LitePay Visa card can be used wherever Visa cards are accepted and takes the money directly from your Litecoin wallet.
LitePay will charge a flat 1% fee per transaction, compared to standard credit card fees which are around 3% and the BitPay transaction fee of $5 dollars per transaction.
The Litecoin news: LitePay and LitePal two new Litecoin Payments Processing and Integrating Systems are on the way to launch this year. This News is the biggest breakthrough for the Cryptocurrency Markets for this year that could pilot Cryptocurrencies heavy gains.
Litecoin is a decentralized P2P Cryptocurrency released almost 7 years back, in 2011 by Charlie Lee, a former Google Employee. Litecoin was basically a fork of the Bitcoin Core Client and succeeded to had decreased block generation time (2.5 minutes), increased maximum number of coins and comprising of different hashing algorithm (Scrypt).
News has been viral that Litecoin is all set to launch its new transaction processing system- LitePay for consumers enabling wider usage of Litecoin. LitePay enables retailers, as well as merchants, accept payments in the form of Litecoins instantly from anywhere across the globe.
A Litecoin Wallet in the backend will be employed in order to store Litecoins. A Visa compatible LitePay card is also going to be launched by the company which will be supported worldwide by retailers and merchants. All these developments will bring Litecoin out of the cyber realm and will be exposed to the real world.
It is an exciting launch that is expected to send the price soaring when it launches. LitePay is all set to take off this week while LitePal would be taking off later this year.
The LitePay Visa card can be used wherever Visa cards are accepted and it takes the money directly from your Litecoin wallet. Above all, it will convert all payments to/from US Dollars immediately and all deposits will incur only 1% settlement charge as opposed to 3% charged by credit cards.
According to Official Litecoin Website, "The service provides value to two fundamentally different kinds of clientele for two distinct reasons."
News has been viral that Litecoin is all set to launch its new transaction processing system- LitePay for consumers enabling wider usage of Litecoin. LitePay enables retailers, as well as merchants, accept payments in the form of Litecoins instantly from anywhere across the globe.
A Litecoin Wallet in the backend will be employed in order to store Litecoins. A Visa compatible LitePay card is also going to be launched by the company which will be supported worldwide by retailers and merchants. All these developments will bring Litecoin out of the cyber realm and will be exposed to the real world.
It is an exciting launch that is expected to send the price soaring when it launches. LitePay is all set to take off this week while LitePal would be taking off later this year.
What is LitePay?
LitePay is the payment processor of Litecoin which means businesses and retail sector will be able to accept Litecoins with company's exclusive LitePaydebit card from anywhere across the globe.
LitePay will allow businesses to accept Litecoin payments by instantly processing the payments that are settled directly with their banks. The cryptocurrency is stored in a digital wallet where you can manage your Litecoin payments and activity and load the coins onto the LitePay Visa card. Retailers won't have to worry about price volatility as payments can be converted to dollars instantly. The LitePay Visa card can be used wherever Visa cards are accepted and it takes the money directly from your Litecoin wallet. Above all, it will convert all payments to/from US Dollars immediately and all deposits will incur only 1% settlement charge as opposed to 3% charged by credit cards.
According to Official Litecoin Website, "The service provides value to two fundamentally different kinds of clientele for two distinct reasons."
- It enables merchants to accept Litecoins as the payment processor will directly settle their payment to their respective banks.
- It gives Litecoin as well as its holder more liquidity in the short-term with the debit card.
Where can be LitePay used?
LitePay users will be able to convert Litecoins to dollars and vice versa through the Visa-compatible LitePay cards, which can be used at all cash points or business that support Visa payments.
The LitePay Visa card can be used wherever Visa cards are accepted and takes the money directly from your Litecoin wallet.
LitePay will charge a flat 1% fee per transaction, compared to standard credit card fees which are around 3% and the BitPay transaction fee of $5 dollars per transaction.
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