Litecoin (LTC) has always been regarded as the silver to Bitcoin’s gold. But, especially with things that we’ve learned since the beginning of the year, LTC is looking a lot more like a threat to Bitcoin (BTC) than a “complement” to the market’s top dog. This cryptocurrency is ramping up, and there are a few signs that this coin is going to be one of the easiest for mass adoption in the coming months.
First of all, LitePay is about to launch
We already talked about this a couple of weeks ago – but, at that time, there was no solid date lined up. We had no idea when the LitePay app would launch, just that it would be introduced sometime in February. Now, thanks to the product’s official Twitter account, we now know that it will be two weeks from today, on the 26th:
— LitePay, Inc. (@LitePayInc) February 13, 2018
This is one of the main reasons that this coin’s price has shot up in the last week. Compared to its price 7 days ago, LTC has added about 34% to its price.
So, why is everybody so excited about this launch?
This platform will make it easy to use Litecoin (LTC)
The LitePay app is going to be cool – and it solves one of the main reasons that cryptocurrency hasn’t really been adopted by the masses yet: usability. Crypto coins are easy to buy and trade, but using the out in our day-to-day lives isn’t something that a lot of top coins have been able to achieve yet.
That’s where LitePay comes in – it is a payment solution that allows retailers to easily accept Litecoin (LTC) payments. What is perhaps the best feature of this program is the fact that the LTC payments are converted to fiat directly – which means that a lot of the risks that come with cryptocurrency volatility are taken care of.
Moreover, there will be a Visa-enable card that you can use pretty much anywhere.
There’s also a big hard fork coming up
On Sunday evening, there will be a hard fork with the LTC protocol – meaning that a new cryptocurrency called Litecoin Cash (LCC) will be created as a result. This has caused a lot of people to start stacking up their LTC inventory – thinking that they will get a reward of LCC coins when the fork happens.
The only thing, though, is that this isn’t an official LTC-approved fork. The founder of LTC, Charlie Lee, even tweeted out a warning to his fans that it may be a “scam.”
PSA: The Litecoin team and I are not forking Litecoin. Any forks that you hear about is a scam trying to confuse you to think it's related to Litecoin. Don't fall for it and definitely don't enter your private keys or seed into their website or client. Be careful out there! https://t.co/qXbiIxp5Al
— Charlie Lee [LTC] (@SatoshiLite) February 4, 2018
But, scam or not, that won’t stop the fact that LitePay is launching and there will be some new coins created for free. Mass adoption for LTC is looking like more and more of a reality every day – we are definitely keeping our eyes on these coins.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.