The paying system of Litecoin– LitePay was officially launched on 26th of February and since then we all have been looking forward to more clarifications from the cryptocurrency on when and how to start using the new system.
Several days ago an official email update was received from the company containing updates on the time when LitePay would be fully functional. All the subscribers received some more official details from the company which made the crypto enthusiasts look forward to the next steps from Litecoin. The updates mainly included the following general information:
The special Litecoin debit card also as called the consumer card is not yet being issued as according to the company the issuers currently have “negative perception and drastic actions” towards cryptocurrencies in general.
Meanwhile Litecoin is still looking for the merchants which will be willing to cooperate and which had signed up upon the launch of the project.
As a part of new and relatively unknown technology Litecoin is planning to invest in a global education and acceptance of cryptocurrencies which is currently an important strategic direction for the company.
While this official email was an interesting general update from the company it is still hardly known the significance and deeper functionality of the new paying system of Litecoin. Apparently the company has been relatively inactive on further updates since LitePay was launched. This puts the investors and potential holders in an inconvenient situation as they can hardly understand the full significance of the new system.
As initially advertised by Litecoin the new system would make it available to use LitePay in 41countries while till this day the company has not even provided official details on what details are actually required to set up a profile, how to create one and how to start using the new system.