Wirex, a crypto wallet service provider made an announcement yesterday that it will now be providing support for Litecoin [LTC], making the digital currency the first of a number of altcoins to be added to its wallet app. Wirex is associated with major physical and virtual VISA/MasterCard bank cards, which were pretty much focused on Bitcoin [BTC] transactions.
Litecoin which
is the 6th cryptocurrency
in terms of market cap currently trading at $143.31, is
extremely fast in terms of transaction speed rivaling bitcoin’s Lightning
Network. Currently, Litecoin is priced at $143.31 according to data from coinmarket cap, is down by 6.87%, but it’s still holding up quite admirably
considering the recent market circumstances.
Litecoin
has made some strong developments over the course of the past few weeks, the
$200.00 mark seeming closer than ever.
Wirex decided on adding Litecoin because “It’s
faster than Bitcoin, has lower blockchain fees and may become a global payment
option available on dozens of big brand websites in coming months.”
With the wallet, users can withdraw Litecoin to any other LTC
wallet (including free money transfers or buying items with Litecoin.
The Wirex LTC wallet allows users to instantly exchange the
crypto-coin into British Pound [GBP], Euro [EUR] or U.S Dollar [USD] and spend
them using the Wirex Visa Card. Litecoin can be purchased via the Wirex account
by bank transfer, debit or credit card, benefiting from high limits, complete
security, and easy account verification. What’s more, ICO profits can
be cashed out with ease by converting it into Litecoin, which can be traded
with Bitcoin or the other way around at any time.
In January this year, Wirex was collaborating with Wavecrest, a
digital prepaid payment solutions provider. But like many others, their cards
became invalid, so they had to end their partnership as Visa told Wavecrest to
close all Visa cards immediately.
Visa decided to stop supporting all cryptocurrency-backed cards
from its network, as some European issuer did not respect their operating
guidelines. In the meantime, the company has been working to begin issuing new
cards which support Bitcoin, and now its latest addition- Litecoin.
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