Litecoin To Launch LitePay In Days
The Litecoin Foundation announced LitePay a few days before Christmas but it's expected to launch this sometime this week.
What is Litepay?
Litepay takes Litcoin out of the cyber realm and places it squarely in real life by allowing other businesses to accept payment in Litecoin from anywhere.
Transactions will be very fast and allow UK-based customers to pay for products and services in dollars with no transaction fees/charges.
A Litecoin wallet will also become available for all major mobile and desktop browsers and instant withdrawals from VISA compatible ATMs and spend with any VISA merchant will be possible.
"Payments would be processed by LitePay instantaneously and settled directly with their banks. Take note that BitPay is currently charging about $5.00 transaction fees for processing Bitcoin transactions that take ages to confirm." -Palwasha Saaim
This is great news. But there is something that is not clear for me. If it would allow to pay in USD, does that mean that you would hold LTC and then it would immediately exchange for USD and then follow up the transaction? Or does it mean it would create the transaction by sending the amount of LTC equivalent to what you would want to pay in USD?
Yes, it would create a transaction in sending the amount of LTC equivalent to how much you would want to pay in USD, I believe so.
Ok, I see. Thank you for your prompt answer, I'll follow you!
Thank you for the follow! I will also follow you (:
Nice work. I Earned 1.17 ltc from a post on steem two weeks ago. Was super stoked until it hit 109. Lol but love the post
Follow me plz!