After a month of deep double-digit dives in the crypto markets, we could be on the brink of a launch that sends it soaring again. The Litecoin Foundation is apparently now only days away from releasing a revolutionary new tool called LitePay.
This new tool, first announced before Christmas, will allow businesses to accept payment in Litecoin (LTC), as well as with the Litecoin-exclusive debit card, from anywhere in the world instantly and without any of the worry associated with cryptocurrency value volatility. An alternative Litecoin payment platform called LitePal is also set for launch later this year.
According to the developers the new transaction tool “was created to bridge the gap between merchants and the cryptocurrency world, all on one simple, secure and fast platform.” There are some who suggest that cryptocurrencies will continue to remain violently volatile until the infrastructure of credit cards, debit cards, and online payment platforms are in place. These basic tools of trade will allow the average person to effortlessly employ their cryptocurrency for use in day-to-day purchases and help to usher in widespread adoption.
It’s that same eventual ease of use that enabled the internet in the 90s to become the consumer-powered titan it is today. A couple months back, when the cryptocurrency markets were climbing quickly, the founder of Litecoin made some prophetic pronouncements.
Charlie Lee warned that “Buying LTC is extremely risky.” He went on to put it in context saying that investors should expect volatility with drops of as much as 90%. He followed that up with an attempt to wave off the faint of heart saying, “If you can’t handle LTC dropping to $20, don’t buy!” Those dark days arrived this week with Bitcoin (BTC) getting battered as its price dropped below $7,000. Read more from nasdaq.com…
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