Thursday, February 15, 2018

Litecoin on verge of overtaking Bitcoin as a real medium of exchange

Because of its issues regarding transaction speeds, acceptability, and fees associated with transactions, Bitcoin has not only leveled out in its attempt to become a recognized medium of exchange, but it has in fact lost ground as third party processors remove their ties with the cryptocurrency.  And this of course has now opened the door for other cryptos to try to take its place in the realm of commerce.

So with this in mind one of Bitcoin's contenders may now be making a move as on Feb. 14, Litecoin signed an agreement with powerhouse processor Visa to create a payment system that would utilize the cryptocurrency as money under a format known as Litepay.

Litecoin gained 36 per cent in value in last 24 hours, raising its capitalization to $11.9 billion and making it the fifth most capitalized cryptocurrency in the world. On February 14, Litecoin hit the $210 mark, according to CoinMarket Cap data. 
What caused the value to spike? The Daily Express reports that it is due to a deal made with Visa. According to the report, the credit card company is planning to introduce Litepay, a payment system compatible with Visa credit cards. 
What this means is that we are going to see Litecoin cards very soon, and business will finally get its hands on a practical cryptocurrency payment method. 
The system that some already named breakthrough is expected to enter service on February 26. – Sputnik News


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