Today, Wirex announced that Litecoin [LTC] is added to its wallet, making Litecoin the first of several altcoins to be added to its cryptocurrency wallet app. Wirex is linked to major physical and virtual Visa debit cards, which will now support Litecoin in addition to Bitcoin [BTC].
Wirex chose to add Litecoin as ‘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.’
Its new LTC wallet allows the users to instantly convert the coin into British Pound [GBP], Euro [EUR] or U.S Dollar [USD] and spend it with the Wirex Visa Card. Litecoin can be added to the account by bank transfer, debit or credit card, which is secure and can be verified easily. Furthermore, ICO profits can be cashed out easily by exchanging it with Litecoin, which can be exchanged with Bitcoin or vice versa at any time.
In January this year, Wirex had tied up with Wavecrest, a digital prepaid payment solutions partner. However, they had to end their relationship as Visa instructed Wavecrest to close all Visa cards with immediate effect.
Visa had decided to drop all cryptocurrency-backed cards from its network as some issuer in Europe had violated their operating regulations. Since then, Wirex has been working towards issuing new cards which support Bitcoin, and now Litecoin.
Earlier this month, Litecoin [LTC] was added to the Korean exchange Korbit.
Barry Robins, a market follower, and crypto enthusiast said:
“This is great!! What happened with wavecrest and visa may have affected your user base. Its great to see litecoin is also added to your wallet and im sure the other altcoins will also be added soon. Litecoin seems to give good competition to bitcoin.”
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