A “GAMECHANGER” for Litecoin will be released zometeen this month with businesses expected to be able to accept the cryptocurrency “without worrying about price volatility”, a financial experienced has warned.
According to Charlie Lee, founder of Litecoin, LitePay will be released on February 26
Charlie Lee, Litecoin founder and former director of engineering at Coinbase, says transaction processor LitePay will be released on February 26.
The Litecoin Foundation announced LitePay just before Christmas te a project to permit businesses to accept payment te Litecoin from anywhere on earth.
The transaction processor permit UK-based customers to pay for products and services te dollars with a vapid transaction charge of one procent.
A Litecoin wallet will also be available for all major mobile and desktop browsers and instant withdrawals from VISA compatible ATMs and spend with any VISA merchant will be possible.
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The Litepay webstek describes the fresh payment method, it said: &ldquo,Use LitePay&rsquo,s retail, e-commerce, billing, and donation implements to accept payments from customers anywhere on earth. Receive settlement from Litecoin payments directly to your canap account te your own currency, with zero price volatility or risk.&rdquo,
The official LitePal account on Twitter said: &ldquo,LitePal is a Litecoin-first payment processor. Wij envision a cryptocurrency world where Litecoin is utilised by merchants from all overheen the world, one streamlined, ordinary, less confusing process. Thank you @SatoshiLite for creating the LTC wij all love.&rdquo,
Palwasha Saaim, a research analyst at Lombardi Financial, called LitePay a &lsquo,game-changer for Litecoin&rsquo,.
She said: &ldquo,It would permit businesses to accept Litecoin without worrying about price volatility.
&ldquo,Payments would be processed by LitePay instantaneously and lodged directly with their banks.”
Przemek Skwirczynski an associate at The ICO Rocket said the system will be a “excellent test”.
He said: &ldquo,Rollouts of systems which permit payments te cryptocurrencies are a fine way of testing if crypto will drown or swim te the real world.
&ldquo,What is crucial is of course keeping the transaction costs low, but that is just a matter of time and will come with enhanced competition.
&ldquo,Payments ter bitcoin have already bot tested, so it is welcome there are fresh entrants into the high-street market now with litecoin.&rdquo,
Litecoin presently lies at $161 with a market capitalisation of $8,922,846,903, according to CoinMarketCap.