Litecoin is still a very important cryptocurrency for many users. That’s because it has an experienced team behind it, lead by legendary Charlie Lee, who works hard on promoting and upgrading the “Digital Silver”. One of the most recent news pieces that Lee shared with crypto enthusiasts is a debit card that’s going to be native to LTC.
Lee, who also happens to be the founding father of Litecoin, announced that the cryptocurrency attempted to release a native debit card for the second time. He noted that the crypto had collaborated with LitePay, but the company had gone out of business as the two sides have been developing different plans for the debit card’s launch.
This task is now given to BlockCard, another popular development company focusing on the crypto industry. Plenty of people already signed up for the card.
This card is nothing similar to existing debit cards that support LTC. Namely, you can use current debit cards to fund with LTC, but the newest Litcoin-native debit card will let you keep the funds in LTC.
How Does an LTC Visa Debit Card Work?
If you are familiar with cryptocurrency, you should know that there is a large gap between crypto and fiat money. The native Visa debit cards play an important role in bridging it. Once you deposit LTC to your card, you’ll be able to store your values in the popular cryptocurrency. This makes a big difference compared to converting it to fiat money right away. Once you choose a merchant and make a purchase, LTC is automatically sold and converted to fiat at the price that’s active at that amount.
The process for signing up for a card is already active, and it’s very straightforward. After you register an account for an LTC card, you’ll have an opportunity to deposit the crypto you want to use. After that, you’ll have to pass the KYC procedure, which also won’t take more than a couple of minutes of your time. The final step might be somewhat surprising — you’ll instantly get a virtual Litecoin Card that you can immediately use.
What’s Happening with Litecoin at the Moment?
When you take a look at an LTC to BTC chart, you’ll notice that Litecoin is not that far behind other popular cryptocurrencies at the moment.
At the moment, the price of LTC is $133.75, but as you know, it’s as volatile as any other crypto, so the price may have changed a lot by the time you read this text.
The maximum supply of Litecoin is capped at 84,000,00, and the total supply currently circulating among LTC owners is north of 66 million LTC. Moreover, the current market cap is approximately $8.8 billion. The fully diluted market cap with the current state of affairs would be $11.2 billion.
LTC Past Price
During the past 52 weeks, the lowest that Litecoin got was $25 apiece. However, as the crypto craze started befalling the world once again throughout 2021, the prices started going up again. The maximum recorded value for a single LTC coin was $185 during the past year.
Unlike Bitcoin, which broke the 2017 record, Litecoin failed to reach the all-time high set in December 2017, when a single unit of LTC was $375.29.
At the moment, LTC is located in seventh place in the list of cryptocurrencies with the highest market cap. It has been close to the top ever since it was launched, and it’s a crypto that many consider the next best thing after Bitcoin. However, like many other cryptocurrencies, its future is still very much uncertain at this moment.