Users of the Wirex Bitcoin debit card can now make payments with Litecoin. Wirex announced full Litecoin integration with its new Wirex LTC (Litecoin) wallet, predicting that Litecoin could become a global payment option on dozens of big brand websites in the near future.
The Wirex LTC wallet will allow customers to buy Litecoin (LTC) by bank transfer and debit or credit card. Wallet users will also be able to deposit altcoin investments and instantly exchange them to Litecoin making it easier for investors to “cash out” cryptocurrency trading profits.
Wirex is the only provider in Europe allowing users to spend cash converted from Bitcoin and Litecoin with its cards. The cryptocurrency friendly personal finance platform offers exchange functionality between Bitcoin, GBP, EUR and USD. The prepaid debit payment card is currently accepted by 40 million merchants across 200 countries. The free Wirex contactless payment cards will be available for EEA customers from the beginning of May.
“Wirex keeps growing as a platform, and it’s natural for us to add new services and currencies. Litecoin has huge potential and a big community, so there is a lot of demand for this service on the market,” said Pavel Matveev, Wirex CEO.
In its recent announcement Wirex describe Litecoin as faster than Bitcoin with lower blockchain fees and declare that Litecoin “could become a global payment option available on dozens of big brand websites over the coming months.”
Litecoin is 7th by market capitalization, currently standing at $8.52 billion USD and with a per coin price of $151.33. Litecoin’s price has been climbing, with some fluctuation, since an end of March to mid-April slump. Litecoin’s price hit $346.90 USD during the December 2017 cryptocurrency market peak.
Cryptocurrency debit card company TenX also recently revealed plans to launch a co-branded Litecoin debit card in the hope to become the preferred payment platform for Litecoin owners.
Wirex services are available at wirexapp.com where users can open a free account, get the Wirex LTC wallet, and register for a payment card. Bitcoin and Litecoin can be exchanged freely, Litecoin can be withdrawn to any other Litecoin wallet and spent by converting the coin into a standard fiat currency instantly. The platform will allow Litecoin to be used as a direct payment option if and when major brands indicate their acceptance.
The cryptocurrency wallet and physical and virtual Visa debit card provider was established in 2014 and achieved over $1 billion USD in transactions to its name in 2017.
“The Wirex account represents a significant improvement on all previously available cryptocurrency account offerings. Bitcoin and Litecoin can be exchanged at any time to GBP, EUR, or USD and linked to a Visa card. Moreover, the currency account enables users to purchase Bitcoin and Litecoin in amounts up to £7,500 at a time.”
“Wirex is expanding its global reach and is forging ahead with other altcoins, as well as offering Litecoin-integrated accounts and cards in Japan, South East Asia, and beyond.”
The expansion of the Wirex service offering, and introduction of its contactless payment cards which allow instant conversion to enable users to spend cryptocurrencies easily, is a further step forward in the journey to retailer acceptance of cryptocurrencies in the UK and Europe.