Litecoin is Now Accepted by 39,250 Retailers – Flexa Levels Up LTC

Litecoin is Now Accepted by 39,250 Retailers – Flexa Levels Up LTC

Litecoin halving excitement is over. At least that is how things seem at present. However, as Bitcoin fights for supremacy at over $12,000, Litecoin is proving its merit elsewhere. — Namely, as a favorite real-world retail payment coin.

Litecoin is Now Accepted by 39,250 Retailers

Flexa is a new cryptocurrency payments network. — Specifically, a network designed to allow users to instantly spend digital assets in real-world retail contexts.

Flexa makes cryptocurrency spendable by collateralizing supported cryptocurrencies with the Flexa network token, Flexacoin.

Litecoin and Flexa Explained
Image sourced from https://medium.com/flexa/were-making-cryptocurrency-spendable-everywhere-8054fd5b61f1

How Flexa and Flexacoin Work

Bitcoin and to a certain extent Litecoin, are plagued by scalability problems. Even now, 2-years after Segwit, BTC transactions take anywhere from a few minutes to a few hours to settle. To tackle this problem. The Flexa network collateralizes coins sent from BTC, LTC, ETH, and other wallets, using Flexacoin.

How Flexa works is simple.

Cryptocurrency users send payments to merchants like they would usually. However, it is not necessary for merchants to have to wait for payments to be confirmed. Instead, every payment is settle confirmed instantly all payments are sent via the Flexa app. When this is the case, Flexa instantly issues an equivocal amount of Flexacoin to cover the cost of a product or service with payment merchants.

Later, when regular BTC and other coin payments have settled, they do so with Flexa itself. — Specifically, to reimburse the Flexa network for the cost of transactions already settled using Flexacoin.

Litecoin and Flexa Make Perfect Payment Partners

Flexa makes cryptocurrency spendable by making it possible to transact cryptocurrency instantly. However, when using Flexa, it is not possible to offset existing cryptocurrency transaction fees. When using Bitcoin to pay for goods or services, standard fees still apply.

Thankfully, Litecoin fees are considerably lower than fees associated with Bitcoin transaction processing. Partnering with Litecoin, therefore, means that end Flexa users benefit from being able to make instant payments for less than when using BTC to pay merchants.

Litecoin Adoption Beyond Flexa

By partnering with Flexa, Litecoin is now accepted by 39,250 retailers worldwide. However, Litecoin is also actively pursuing other mainstream adoption avenues.

Recently, Litecoin announced plans to launch a physical Litecoin debit card. Litecoin halving fever may, therefore, be over. However, Litecoin is clearly just warming up when it comes to expanding to new merchant horizons.

 

Did you find this content insightful? If so, consider supporting OMGLitecoin.com using Bitcoin and Litecoin:

BTC: 16k5EpydXXXWBANqBWtTJugjJKRErc5w56
LTC: LRCz5TiKpdMVTjSfgpnS3vBmN4qhTXVV7Q