Litecoin announcement – ‘gamechanger’ LitePay to launch in days

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Payments on LitePay will be faster and cheaper

LITECOIN, one of the world’s leading crypto-currencies, is poised for massive gains this week on the back of a ‘game-changing’ announcement. The peer-to-peer crypto has been in the doldrums for weeks and was today trading at around $145 – down from a high of more than $325 in December.
However fans of Litecoin – essentially a faster spin-off of Bitcoin – are convinced that a new payment processor called LitePay will send the price soaring.
The Litecoin Foundation announced LitePay just before Christmas – but the actual launch of the product is expected this week.
LitePay takes Litecoin out of the cyber realm and places it squarely in real life by allowing businesses to accept payment in Litecoin from anywhere on earth.
Transactions will be super-fast and allow UK-based customers to pay for products and services in dollars with no transaction charges.
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.
Litecoin say LitePay will revolutionise payments
Litecoin say LitePay will revolutionise payments and the use of cryptocurrencies worldwide

Palwasha Saaim, a Research Analyst at Lombardi Financial, called LitePay a ‘game-changer for Litecoin’.
She added: “It would allow businesses to accept Litecoin without worrying about price volatility.
“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.
“The best part is that Litecoin users will be able to convert litecoins to dollars and vice versa through their Visa-compatible LitePay cards, which will be usable at all ATMs or businesses that support Visa payments.”
Litecoin – which uses the acronym LTC - is described on Wikipedia as “a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority. The coin was inspired by, and in technical details is nearly identical to, Bitcoin (BTC).”
The blockchain currency was dreamed-up by ex Google employee Charlie Lee in October 2011 as a faster, better Bitcoin.
In November 2013 Litecoin’s value increased exponentially with a 100% leap in a single day.
In the same month Litecoin reached a $1 billion market capitalization and by the end of November 
its market capitalization was US$4,600,081,733 ($85.18 per coin).
Just before Christmas Litecoin’s marketcap had reached US$20,000,000,000 and each Litecoin was valued at more than US$371.00.

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