Every cryptocurrency owner remembers past December 2017, when Litecoin rose to incredible heights. The first half of the month was fantastic, when Litecoin reached it’s all time high. (ATH) However, in the second part of the month the total worth of the coin decreased. It’s definitely worth it to hold (HODL in crypto terms) this coin though. In February 2018 it got another big boost. What was the reason for this? LitePay!
What is LitePay?
After the very successful month December the price of Litecoin was between 140 and 160 Dollars. Afterwards it gained momentum again and reached 230 Dollars. The reason for the rise was quite simple actually. At February 26th LitePay was introduced. From that moment on it became a lot easier to use Litecoin as a payment method.
Since February stores and webshops are able to accept Litecoin as payment method. They don’t have to possess Litecoin themselves. You pay with Litecoin to LitePay and they put Dollars or Euros on your bank account. It is as simple as that, but revolutionary.
The development of LitePay
LitePay has been in development since the summer of 2017, the founder of Litecoin said. He sees Litecoin as a better payment option than Bitcoin because of the lower transaction fees. Besides that, the transactions of Litecoin are much faster than those of Bitcoin. It makes Litecoin an interesting option for investors. Another reason to put money in Litecoin is that because of LitePay it has a real usage. LitePay shows that cryptocurrencies like Litecoin can have a practical use in modern society.