Litecoin (LTC) started a campaign known as PayWithLiteCoin so that it results in mass adoption. The main purpose was to make Litecoin an acceptable payment option.
Interestingly, the campaign is slowly gaining traction. Gabriel Francisco of TMT Blockchain Fund told Express.co.uk that he believes that Litecoin will soon be one of the first cryptocurrencies to achieve mainstream adoption. Francisco added that the superior payment system of Litecoin will help in mainstream adoption. To support the PayWithLiteCoin, Litecoin Foundation even launched website a couple of days ago. The website, Paywithlitecoin.co is created by the development team of the Foundation so that people all across the globe accept the cryptocurrency.
Litecoin is legal in Thailand now
Digital assets have been treated differently in different countries. While in some countries staying away from cryptocurrencies, some are building up regulatory bodies such as Securities and Exchange Commissions (SEC) for their functioning. Thailand falls on the latter category, as on May 14, 2018, Thailand announced a regulatory body for initial coin offerings (ICO) and for the functioning of cryptocurrencies in the country.
According to Bangkok Post, Thailand’s SEC will allow only seven cryptocurrencies to be used for ICOs traded and exchanged in the country. Litecoin cryptocurrency is one of seven legalised coins by Thailand’s SEC. The other coins which have been legalised in Thailand include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Ripple (XRP), and Stellar (XLM).
How can PayWithLitecoin play a role in creating its future?
The new campaign #PayWithLitecoin is gaining traction. Recently, CEO of Wirex tweeted mentioning that Tesla airport shuttle is accepting payments in Litecoin. This is a huge thing as it hints at its growing adoption as currency and it will increase its long-term value in the market.
Moreover, Bjorn Kjos, a Norwegian crypto company announced that they are trying to work on airline ticket payments in cryptocurrency for the Norwegian market. They wish to first test it out with Bitcoin and mentioned that they would add Litecoin payment option in future. Since it is cheaper and faster, it is a better option than Bitcoin.
Image via shutterstock
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