The Litecoin Community was treated to a series of ecstatic news last week as Litecoin Foundation confirmed partnerships with Wirex and TenX, both are on projects to create co-branded debit cards with Litecoin. The news of the debit cards coming to Litecoin is acting to soothe the pains caused by the failed LitePay. However, the news just seems to be getting better for Litecoin (LTC).
Litecoin Can Be Used On Visa Debit Cards
Not the regular visa debit cards, but Coinbase’s Shift Visa debit cards. The Visa Debit card of Coinbase is the first debit card Bitcoin got, and it can be used to spend BTC online and offline at over 38 million merchant centers from across the globe.
Holders of Coinbase Shift debit cards are allowed to spend Bitcoins in their Coinbase wallets on linking the debit cards to their Coinbase accounts. Founder of Litecoin Charlie Lee made the announcement that Litecoin users can also make use of Coinbase Shift Debit cards too.
Upon connecting your Coinbase account to the Shift debit card, users are allowed to spend digital coins they hold in that account including Litecoin (LTC). The Litecoin community is going haywire over the news tweet from Charlie Lee. It is however not a new partnership of sort, but a new discovery made.
Litecoin Confirms It’s the Go-to for Transaction
Cryptocurrencies were created as a better alternative for money transfer across the world, as the regular money transfer systems could be quite hectic, include a lot of paperwork and bottlenecks as the volumes of funds increases.
Even among cryptocurrencies where funds transfers are considered to be lightening quick and almost costless, Litecoin has belittled the achievements of the bunch in the cryptospace. In a transaction, Litecoin has proven why it and should be the preferred payment option when considered to other digital assets.
Using Litepal, a user completed a transfer of $99,000,000.00 (USD) in just around 150 seconds. The entire transaction attracted a token transfer fee of only $0.4 USD. Even among cryptocurrencies, the figures posted in that transaction dwarfs what majority of the digital assets can offer.
Price and Performance of Litecoin (LTC)
All attention has been shifted to Bitcoin (BTC) as it nears $1,000. However, Bitcoin is not the only asset in the green or posting double figures in the bullish crypto ranks. For the Litecoin community, the wait is finally over as Litecoin has finally broken the $150 barrier.
Three days ago, Litecoin finally mustered enough power to break through the $150 ranks, after almost a month below. As this writing, Litecoin (LTC) is trading at $160.64 apiece with gains decent of 6.08% over the last 24 hours.
Litecoin (LTC) has been a steady climber over the past week, accumulating gains of about 20%. Trailing EOS, Litecoin is now ranked as the 6th largest cryptocurrency by market capitalization with $9.018 billion (USD).