Pay with litecoin? For the past few days, over 40 million new merchants have been accepting LTC payments thanks to the Spend app.
The platform allows creating a multi-currency wallet, which includes litecoin, to buy, sell and exchange cryptocurrencies. The wallets are linked to bank accounts and users are equipped with Spend Visa credit cards.
The Spend app also supports 16 other cryptocurrencies besides litecoin, allowing funds to be transferred to 180 countries worldwide.
Needless to say, the press release mentions 40 million merchants because it refers to shops around the world that accept Visa credit card payments, but this does not mean that merchants are aware of crypto payments, a bit like in the case of Revolut or other “traditional” credit cards that support cryptocurrencies as well.
The conversion is immediate and so the merchant does not even realize they are accepting payments in litecoin (LTC) or other crypto.
This means that the risk of volatility is reduced to zero for the trader, but at the same time allows using virtual currencies for the payment of goods and services online and offline.