LitePay is a new payment platform used for Litecoin (LTC) payments. The platform is supposed to be launched globally in the next days, which triggered the rise of the price of Litecoin in the last few days.
The announcement of the new platform was made in December last year on social networks, where its launch was announced for February this year. Now that February has come, the community is waiting for the official launch of the platform that could facilitate to a large degree the use of Litecoin as a method of payment around the world.
On December 21st, 2017 when the company announced the launch of LitePay for February 2018, the price of Litecoin was more than 300 dollars per coin.
However, the price of the cryptocurrency dropped in January below 120 dollars for one coin, its lowest value since it started growing at the beginning of December last year.
Thanks to the initiative generated by the launch of LitePay, Litecoin recovered some of the lost value and now its price is around 140 dollars per coin, although its price was around 170 dollars earlier yesterday.
The crypto community is expressing a lot of enthusiasm for the LitePay platform, because it facilitates the integration of one of the major cryptocurrencies on the market as a method of payment. Without doubt, this will increase the adoption and everyday use of the digital currencies in daily life of people around the globe.
One of the major benefits of LitePay is that the establishments will not be obligated to store cryptocurrencies when they receive them. Thanks to the technology behind LitePay, the owners of Litecoin will be able to instantly convert their litecoins to dollars without any commissions.
This allow the owners of this cryptocurrency to use it everywhere in the world, as well as to store it on the platform. LitePay uses the technology from BitGo to improve security.
Litecoin grew rapidly in the last weeks of 2017 due to various factors. We hope to see bigger adoption of Litecoin after the launch of this new platform.