LITECOIN is ready to launch its exclusive transaction processor - LitePay - next week to consumers. But when does it start and where do you want to use the payment processor?
LitePay is the payment processor for Litecoin, where retailers can accept Litecoin payments instantly from anywhere in the world.
A Litecoin wallet will be available where users can load Litecoins on a Visa-compatible LitePay card that will be supported worldwide.
It's an exciting launch that is expected to send the price as it launches.
When does LitePay launch?
Litepay is expected to be released this week, no official release date has been confirmed, but it is "on its way to its February launch and is expected to be released for consumer use this week."
The transaction processor was originally published just before Christmas by the Litecoin Foundation.
It has been called a "game changer for Litecoin" It would allow companies to accept Litecoin without worrying about price fluctuations.
Retailers do not have to worry about volatility because the payment can be converted to dollars instantly.
When companies accept kryptocurrency at a given price at any given time, they will be paid the final value - they do not have to worry about any price changes.
Where would you like to use LitePay?
LitePay users will be able to convert litecoins to dollars and vice versa through the Visa-compatible LitePay card, which can be used on any monetary or business-supporting Visa payments.
The LitePay Visa card can be used where Visa cards are accepted and take the money directly from your Litecoin wallet.
LitePay charges a fixed fee of 1% per Transaction compared to normal credit card fees that are around 3% and the BitPay transaction fee of $ 5 dollars per Transaction.
thanks for information on litecoin the crypto world.😊
Litecoin seems to be superior to Bitcoin in quite a few ways, but I'm not sure if it the final crypto answer either. Steem transactions for example are way faster and I'm quite sure several answer coins too.
However, if the really launch LitePay it will be an important step and sign for the whole business. And maybe for Litecoin investors too.
The crypto market really needs some encouraging and positive news these days to stop and turn the down ward trend.
Thank you for this interesting read. Greetings from Japan
Exactly, we need some good news soon, thanks.
I believe that any crypto that is looking for mass adoption should go this route. It also shows that Visa is looking to stick with the times while other financial institutions such as Wells Fargo, Bank of America and Citigroup are trying to hang on to the status quo instead of innovating. This is good news; I have a shift card through Coinbase and I will probably get one of these as well!
i will definitely get one too.
What’s a “shift card”, @stwbll?
Shift is a Visa based "pre-paid" debit card that ties to your Coinbase Bitcoin account. You can use it anywhere Visa is accepted and it will debit Bitcoin from your Coinbase account at the time of purchase doing an inline currency conversion in the process so that you get the most up-to-date conversion rate. There is an app that you can use as well. I have used it for purchases without any hangups thus far.
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Thank you!
Wow. Thats great news. I wonder how they deal with the laws/regulation ?? If they do ? Unless it is just Visa's business ?
That’s a huge question that needs an answer. The governments have to figure that out, which is a major reason crypto currencies haven’t grown more rapidly than they already have.
LitePay is scheduled for launch on February 28, 2018. More information here.
https://steemit.com/litepay/@sumanpuja/litepay-is-coming-one-of-the-best-time-for-litecoin-lovers-don-t-miss-the-opportunity
The fact that Visa is on board with this tells me the time is drawing ever nearer for cryptocurrencies to become mainstream.
Litecoin will be a giant. I am organizing big events in India just to spread awareness about cryptocurrencies. Mainly Litecoin because there is so much upside to it. I have been following it since August and I'm glad I came in some early. Happy to help anyone one who needs it.
4 Days Later and still heard nothing from LitePay, so hopefully later today or tomorrow they will update this announcement. I wonder why they are keeping quiet, this is revolutionary.^^ Nice post and hope the best for when Litepay releases!
Thanks for this bud, been looking forward to this for some time :)
hopefully this will also be available in the Philippines.
i'm hoping this works out, i'm really looking for a decent atm card since wavecrest collapsed. i'll be reviewing this service over on @cryptocards when i get the chance!
wow thanks for sharing this information to younger people as I arouse interest
This is a very informative post @tradewonk. i have followed you to see your works on a daily basis. I badly need these type of blogs as i am a newbie here. Thank you for imparting your knowledge on litecoins.
Awesome, I hadn't heard about this and am glad you brought it to my attention. I'll have to do a bit of research into it.
We can hope that mass adoption is possible with this vehicle and mechanism. BitPay is horrible, and has been trouble for me for a long time.
I just want the freedom to do this, finally, and this may be all our chance.
God Bless LiteCoin, and Charlie Lee. Thank You!