Charlie Lee, the co-founder of Litecoin, was repeatedly criticized and praised in equal measure. He may have sold his warehouse in December 2017, warning potential investors that LTC could drop to $ 20 – and some are now calling him today’s Nostradamus. Despite unexpected actions, many had to learn what they were investing in and the similarities between Litecoin and the grandfather of all, Bitcoin.
The team actively promotes Litecoin as silver to gold and firmly believes that the fifth largest coin is in no way a competitor to Bitcoin, but rather a complementary currency. Fortunately, their efforts are paying off generously as they progress and traders are finally seeing benefits. As a result of the introduction, network development and rival of BTC, Litecoin (LTC) is also pumping. Merchants seem drawn to LTC’s low fees, security, and near-instantaneous transactions on the chain.
Lightning Network and Litecoin
On the other hand, it may be due to their positive symbiotic relationship with Bitcoin and the atom-swap ability that the Lightning Network allows. As this highly scalable off-chain solution gains momentum, there will be two winners when it completes the beta, resulting in an immediate capacity expansion – Bitcoin and Litecoin. The Litecoin Lightning Network (LN) may not be as stellar as Bitcoin’s – it’s seeing double-digit gains adding to the number of nodes and overall capacity, as mentioned earlier, but integration with Jack Dorsey’s Cash app is also thanks to Atomic for Litecoin can be immense as subatomic swaps. Just to quantify, there are over 4,500 merchants who accept Litecoin Lightning payments. After a pilot phase with a VPN provider, SurfShark, CoinGate is ready to integrate Litecoin LN payments.
“Since the start, we have created over 30,000 orders with Lightning, which is a strong sign that both our customers and the crypto community are very interested in this development. Given the enormous potential, we decided to develop the feature further, but this time for Litecoin. “
Everything about adoption
That being said, the only measure of Litecoin’s success is acceptance. Your social media campaign has converted some, but it’s the organic growth that’s really impressive. Another addition to the CoinGate and LN integration is the fact that the Spend app opens the door to actual Litecoin spending.
Litecoin is now available on the #SpendApp. You can buy, sell and #PayWithLitecoin with your linked bank account. Spend #LTC in more than 40 million locations with the Spend Wallet by switching to Fiat immediately with the #Spend Visa® Card! @SatoshiLite @LTCFoundation @LiteCoinNews pic.twitter.com/LC3gC54xUP
– Spend.com (@SpendCard) February 11, 2019
As reported by Ethereum World News, Litecoin users can use the Spend Visa Card to spend their global, fraud-resistant, censorship-resistant and secure currencies in more than 40 million locations.
It’s not just dealers. Real estate agents and brokers find Litecoin irresistible. In the Philippines, the owners of four properties are selling their home and accepting Litecoin and Bitcoin as a settlement.
At the same time, Oklahoma-based Bob Moore Subaru, in collaboration with Aliant Payment, accepts Litecoin as a means of payment.