Litecoin Now Accepted Everywhere
… Visa is. Litecoin finally accepted as form of payment at major retailers thanks to its partnership with payment processing legend Visa.
Covered:
- Visa Partnership
- Network Speed
- LTC Price Action
Litecoin Card: Visa Partnership
Litecoin is accepted anywhere VISA is.. the #Litecoin Card converts $LTC at the time of purchase. You can also connect the card with the @Litewallet_App #PaywithLitecoin #Hodl #SundayThoughtshttps://t.co/rOzz9zoXRD pic.twitter.com/AR4wXqCPg6
— Litecoin (@litecoin) November 14, 2021
Litecoin (ticker symbol: LTC), announced yesterday via Twitter that they entered into a partnership with Visa Inc.
Under their agreement, the stalwart payment processor is releasing “Litecoin Card” which will give “your crypto real world utility anywhere major credit cards are accepted.” That means Wal-Mart, too, and for real this time.
LTC Speed
Litecoin Card promises that their card will allow customers to, “Seamlessly deposit cryptocurrency that is converted into dollars on the fly when you spend.” Classic proof-of-work chains like LTC are notoriously slow, so it’s hard to understand how incorporating Litecoin could possibly be seamless or something that can be done “on the fly.”
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Sure, Litecoin is faster (and cheaper) to transact with than the cryptocurrency it copy/pasted its code from, Bitcoin, but its speeds still are far below the standard of credit cards like Visa and Mastercard. Just imagine Walmart lines if everyone had to wait for 12 block confirmations. And then imagine Black Friday Walmart lines…
The visual explainer provided at Litecoin-Card.com doesn’t help clarify things much, either.
Sure, Litecoin is faster (and cheaper) to transact with than the cryptocurrency it copy/pasted its code from, Bitcoin. But, its speeds still are far below the standard of credit cards like Visa and Mastercard. Meaning, that unless founder Charlie Lee developed the LITEning network without telling us, transactions won’t be instant.
It’s unclear if Visa is on the hook while blocks confirm.
Litecoin Price Action
Either way, it’s a positive development for the long-dormant coin. Sure, it’s not really a direct application of what’s supposed to be a radical technology, but it helps at least increase the awareness of LTC at a time when it’s failing to stay relevant.
After starting the year in 4th place in market cap, the Charlie Lee-led project now sits 14th. The OG altcoin sits behind cryptocurrencies Dogecoin and Shiba Inu on the list.
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Currently, LTC sits in the $266 range, down about 1% in the last 24 hours. However, LTC is up over 30% in the last week.
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