The Litecoin Foundation, the entity behind the development of the blockchain of the same name, has announced the launch of new debit cards that can be used to spend cryptocurrencies and naturally also Litecoin (LTC).
Store your litecoin on this card and convert to Fiat once you make a purchase.
– Litecoin Foundation (@LTCFoundation) August 11, 2020
These debit cards are the result of a collaboration with Ternio, a fintech platform dedicated to the blockchain world that issues debit cards.
These are also compatible with digital payment systems like Apple Pay, Google Pay, and Samsung Pay.
It is interesting to note that these debit cards are not only intended for Litecoin users, but also allow the use of 12 different crypto assets, including:
- Basic Attention Token (BAT),
- Bitcoin (BTC),
- Bitcoin Cash (BCH),
- Ethereum (ETH),
- Litecoin (LTC),
- Paxos Standard (PAX),
- Stellar Lumens (XLM),
- Ternio (TERN),
- Tether (USDT),
- TrueUSD (TUSD),
- USD Coin (USDC),
- Ripple (XRP).
How to use Litecoin cards
To get them it is necessary check in First on the platform, deposit the cryptocurrencies, proceed with the KYC process and finally receive this debit card.
It should be noted, however, that for the moment these cards They are only aimed at the American market, but later they will also be opened to European users, specifically to 31 different countries.
Along with these cards, the Ballet Litecoin Blocks created in collaboration with Ballet Crypto and LTC Pool.
Is about 999 silver cards, which take the prize of a block, that is, approximately 12.5 LTC, and are sold at 18 LTC. They are limited to just 300 pieces, so they will become a collector's item. This is an investment of almost $ 1,000, at the current exchange rate.
Going back to debit cards, many people consider them a very simple way to use crypto assets indirectly as once the funds are deposited using the card these assets will be sold and converted to fiat and the merchants will not even They will notice that they are using cryptocurrencies.