LitePay: The new payment processor by Litecoin

  It seems like February came out to hold some interesting news about the silver currency:  First, the announcement of Cash Litecoin; The news was later denied on twitter by the Litecoin’s creator, Charlie Lee, to reclaim it as a scam. Then, the countdown for launching LitePay; According to a tweet on LitePay’s official account the release will be on 26th of February.  The release news was a reaffirmation of what Charlie Lee had declared just few days before Christmas. As back to december, the latter tweeted, first, that a new payment processor will be operational on February.  With a large fan-base among the cryptocurrency community, Charlie Lee disrupts the market with the launch news of LitePay. First, what is Litecoin? Unlike Bitcoin, Litecoin is created for lightweight payments like paying bills and some other small daily transactions.The core principle of Litecoin is issuing immediate transactions with negligible fees. As a response to the mentioned concept, Litecoin design team introduced Litepay: the new payment processor. What is LitePay? Litepay is Litecoin’s infrastructure payment that allows businesses to accept Litecoin (LTC) payments. Used outside speculative trading, merchants can deal with LTC holders and keep their sales in fiat at once. Let me explain, litecoins are managed using digital wallets. When making a payment near to a seller the amount will be directly transferred from one’s wallet to the seller’s account in dollars. Also,The company offers a Debit Card powered by Visa that enables users to convert Litecoin to Dollars and vice versa. In other words, wherever Visa is accepted, Litecoin is exchangeable. With the debit card you can withdraw your Litecoins in cash from any random ATM. Moreover, Litepay addresses the issue of price volatility with insuring instant transactions. LitePay vs. Bitpay Litepay is another alternative to Bitpay. It offers the same service but with higher conversion speed time from/to Dollars and with lower fees. The company will charge its users only 1% fees compared to 5% from Bitpay and 3% from credit cards. If useful then valuable “This is the very beginning of a new way of sharing and transferring value”, said Kenneth Asare, CEO of Litepay when was on the air last Tuesday. A final word, Litepay is the fastest processor that converts transactions. It doesn’t take ages to issue a direct transaction. Add to that, it is the cheapest with extremely low fees and what is the most important is its utility. If you own Litecoin, this is huge news for you. Your Litecoins will be spendable everywhere for anything you want. But if you don’t have any, it’s time to think of having ones. The new payment system is viewed by many as a ‘game changer’ since, with this innovation, the payment-focused company is moving the crypto world from the virtual to the real world. Hence, it makes the cryptocurrency more useful. Undeniably, Litecoin will pilot in a new area of acceptance when the rocket takes off on Monday 26th February. Well played Charlie Lee!