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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 crypto and naturally also Litecoin (LTC).
Today on the #LiteningSeries livestream, we announced the Litecoin Card collaboration with @terniotoken.
Store your litecoin on this card and convert to Fiat once you make a purchase.
Register at https://t.co/SsmeQLIqsg
The card will be released soon!#litecoin #litecoincard pic.twitter.com/nNKZrv2Ga5— 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 such as 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),
- DAI,
- Ethereum (ETH),
- Litecoin (LTC),
- Paxos Standard (PAX),
- Stellar Lumens (XLM),
- Ternio (TERN),
- Tether (USDT),
- TrueUSD (TUSD),
- USD Coin (USDC),
- Ripple (XRP).
How to use the Litecoin cards
To get them it is necessary to first register on the platform, deposit the cryptocurrencies, proceed with the KYC procedure and finally receive this debit card.
It should be noted, however, that for the time being these cards are only aimed at the American market, but later they will also be opened to European users, specifically to 31 different countries.
Alongside these cards, the Ballet Litecoin Blocks created in collaboration with Ballet Crypto and LTC Pool were also presented.
These are 999 silver cards, which carry the prize of one block, i.e. approximately 12.5 LTC, and are sold at 18 LTC. They are limited to only 300 pieces, so they will become a collector’s item. This is an investment of almost $1,000, at current exchange rates.
Returning to the debit cards, many people consider them a very simple way to use crypto assets indirectly, since once the funds are deposited when using the card, these assets will be sold and converted into fiat and the merchants will not even notice that they are using cryptocurrencies.