February 18 heard the announcement of Litecoin Cash, and with the upcoming LitePay in mind, Litecoin prices have been seeing an increase in value. Currently, the digital currency is worth $230 and has a market cap of USD 12,800,684,113.
From the start of this year, the cryptocurrency has been running low, but Litecoin kept its ground somehow. And now with the advent of LitePay which is to be released today, it just might become the preferred mode of payment and transactions.
A huge boost in the price of Litecoin is expected. Today we have already seen a 7% increase in its value which is a testimony to the belief. As of now, the digital currency holds the fifth spot regarding popularity in the crypto world.
So what is LitePay? Well, it is the Litecoin equivalent of BitPay. A payment processor that enables exchange of your Litecoins with fiat money, from anywhere in the world. LitePay is also designed to be the first cross-border crypto payment network focusing on providing a simple and intuitive solution to its adopters.
LitePay can also accept cryptocurrency payments for goods and services and is a much faster and cheaper alternative to BitPay. It also allows you to convert LTC to USD using your LitePay card and yes, even your wallet.
With the success of LitePay, people imagine a more expansion on the adoption of altcoins. And if it makes LTC transaction, even more, simpler, the Litecoin just might become the cryptocurrency of choice for the people.
However, in the midst of all these high hopes, LitePay has received some criticism on the fact that it is using an unoriginal technology. But consumers haven’t shown any complaints as they are happy that Litecoin now allows people to spend the coins as desired. And with the spurge of happy customers and increasing adoption of Litecoins, it is only a matter of time before it surpasses Bitcoin Cash regarding market capacity.