One of many fundamental drivers for cryptocurrency adoption is with the ability to use your crypto to purchase items and providers like an precise forex.
If Bitcoin (BTC) is digital gold, Litecoin (LTC) is usually seen as digital silver. Litecoin prides itself on being faster and cheaper to make use of than Bitcoin, making it excellent for on a regular basis funds.
So for those who’re a cryptocurrency fanatic and also you occur to carry some LTC, how and the place are you able to spend it?
Let’s first take a fast look on the LTC/BTC value motion. This can inform you whether or not it’s a very good time to spend your LTC or if it’s higher to carry on in case its worth rises.
Trying on the chart above, we are able to instantly conclude that LTC is close to its yearly low in opposition to Bitcoin.
For the time being, LTC is simply above its 20-day EMA, sitting round 690,000 sats. Quantity-wise, value is discovering some weak help near a key stage, between 610,000 and 710,000 sats. The following sturdy stage of resistance must be felt round 900,000 sats.
If LTC is ready to break above the 50-day EMA and maintain some help under the 200-day EMA, we might see a sudden shift in investor preferences. Nonetheless, in the intervening time, it appears like Litecoin is in for a interval of accumulation.
Previous to mid-June, the altcoin was the very best performing digital asset of 2019, rising greater than 170% in fewer than 90 days and peaking at round $145.
A severe summer time downtrend then noticed LTC tumble to round $49 earlier than a market-wide pump final month following Chinese language President Xi Jinping’s bullish feedback on blockchain.
In US greenback phrases, Litecoin is at present buying and selling at round $59 after a 1% drop in value since final week.
The place to purchase Litecoin
One of many easiest methods to purchase Litecoin is thru a cryptocurrency alternate. Whereas exchanges help a restricted variety of digital cash, most of them checklist Litecoin because of its longevity and recognition.
You’ll have to create an account on the alternate you’re planning to make use of. Earlier than making a purchase order and buying and selling cryptocurrency, you’ll additionally must show your identification utilizing an identification doc issued by your authorities.
The place to spend Litecoin
In case your objective is to spend your hard-earned LTC, there’s just a few locations you possibly can go.
On the time of writing, 1000’s of companies worldwide settle for Litecoin as a cost methodology by numerous cost suppliers.
Trying on the Litecoin retailers heatmap above (courtesy of Cryptwerk), you possibly can see that almost all retailers are situated within the US and in Europe, though there’s fairly just a few in Asia as properly, notably India and Indonesia. As well as, Turkey appears to be fairly a hotspot for LTC as properly.
Its recognition in the USA is to be anticipated after the latest information that the NFL has joined the crypto trigger, with Litecoin changing into the official cryptocurrency of the Miami Dolphins.
To search out out which companies and providers settle for Litecoin, you possibly can go to the Litecoin Basis website, which options an up to date checklist of all of the retailers supporting the undertaking.