Articles by "LitePay Launch Expected"
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LitePay Cards for Merchants


LitePay was supposed to be a ticket to greatness for Litecoin. But now, it turns out the launch of the service would be only partial, and the unrolling of Litecoin payment cards has been delayed. However, the possibility for a single standard for accepting Litecoin, instead of ad hoc solutions and per-piece wallets, may see the asset spent more widely in 2018, as is the intention of the community.

What LitePay Launched


Even on February 26, there was a strange radio silence from the LitePay project. What really was launched was a sign up process for merchants, with the real product to be unrolled at some point in the future.

The possibility to unroll Litecoin cards has been cancelled, much to the anger of Reddit users in the Litecoin community. The biggest problem for issuing crypto-based cards comes with intermediaries between VISA and the crypto-related payment system. The rift between VISA and WaveCrest caused trouble with the TenX and Wirex cards, and sent the projects out to look for other intermediaries.

LitePay Launches Delays Cards For Merchants


But so far, there is no telling how LitePay would achieve worldwide acceptance, much less achieve it quickly. LitePay itself is a relatively small startup, trying to build its ecosystem from the ground up, with little influence right now.
Even for older ICO projects that promised to include a card, the task took months to unroll the actual plastics.



The LitePay service would at first resemble the earlier BitPay system, which was widely used especially on days of lower fees. But during the December network congestion, BitPay raised the minimum purchase to $100, to justify high fees.




Strangely, for now, there has not been much social media noise around the launch, and the next few months will show if spending Litecoin really takes off, or has any effect on the price. LTC slid slightly in the past 24 hours, as the asset habitually absorbs bad news with relative stability. LTC trades at $218.16, down 1.73% in the past day.

There is a slight premium on Korean exchanges, and a slightly lower rate on Binance, where LTC also trades against Tether (USDT).
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Litecoin has held up well at $230 on a collection of positive news over the weekend.


lite-pay-launch


Litecoin (LTC) grew while the market slumped, establishing itself around $230 in expectations of soon taking over Bitcoin Cash (BCH) in terms of market capitalization. With the previous boost from the Litecoin Cash hard fork, the LTC price proved once again its capabilities to hold steady and recover well.
The chief criticism against Litecoin is that its technology is unoriginal. But this digital asset has the advantage of a long history, wider adoption, and now - a drive to allow users to spend the coin. The Litecoin Foundation works toward the popularization of technologies that allow for Litecoin payments.

Did LitePay Launch?


One of the reasons behind the short-term price rise in Litecoin is the promise to launch LitePay on Monday, February 26. But there have been doubts whether the system is operational, and whether it would have an immediate effect, both in terms of price and the usage of Litecoin.


The launch of LitePay caused some extremely bullish predictions, possibly seeing LTC rise above $1,000. Right now, despite the usage and spreading, Litecoin has not seen concerted efforts to lift the price and lags behind coins like DASH who have seen much more promotion. Yet LTC almost touched $400.



However, the LitePay delay may hurt the price. But in the longer term, all news of merchant adoption could lead to more popularity and potentially a higher price for LTC.
There have been no official tweets or news about the launch, and that may turn the sentiment for LTC, at least in the short term. We will keep tracking the LitePay launch issue and its effect on the market price. But in any case, LTC has made a strong start in 2018, despite the shakedowns in February.