LitePay enables payments with Litecoin, anywhere in the world

• LitePay, the payment method developed exclusively for Litecoin, will be released this month. Consumers can then use their litecoins to make purchases anywhere in the world, both online and in stores. The value of the currency is expected to get a big boost once the product is effectively on the market.

• Soon consumers will be able to use their litecoins in real life through LitePay. This new transaction processor, which is linked to your wallet and a Visa card, will make it possible to make everyday purchases. Just like you do with your bank card now.

• Traders can accept the crypto coin or have it immediately converted to fiat money. So there is no uncertainty in terms of volatility. The litecoins that merchants receive can immediately be converted to the correct dollar value at the time of payment.

LitePay transactions

 

• The possibilities are enormous, LitePay will be accepted wherever you can pay with a regular Visa card. The transaction speed is much higher than with a regular credit card while the transaction costs are lower. With a Visa transaction you usually pay 3 percent costs, LitePay only charges 1 percent per transaction.

• It is also a good alternative to the slow and relatively expensive Bitpay, a similar payment service but only for bitcoin and bitcoin cash. Because the litecoin network is much faster and cheaper, LitePay is expected to be more successful than its predecessor.

• The payment service was announced in December and was appreciated by the public. There is no official fixed release date. However, it is expected that LitePay will definitely be used this month. It can make crypto more accessible and acceptable on a large scale.

Sources: Express, Bitsonline

Photo: BTC Keychain - Flickr