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Earn Litecoin With ZongPay
Singapore-based ZongPay – one of the few local Bitcoin and crypto-payments platforms in the region – has developed a Litecoin payment feature to provide a secure and convenient method to send money between bank accounts.
A new website allows consumers to send virtual currencies such as Litecoin, Bitcoin and Ethereum to ZongPay.com to receive the digital coins in their ZongPay wallets.
In the US and Canada, Litecoin and Bitcoin are traded at select electronic exchanges for approximately $420 and $624 each, respectively. According to Bitstamp.com, Bitcoin is up 59% to $607.69. Meanwhile, Litecoin’s value climbed by almost 8% to $36.27.
Trading Bitcoin – If There Is To Be One
All payments made via ZongPay Litecoin will be settled in US dollars, resulting in a reduced value in the short term.
Matthew Smith, CEO of ZongPay, stated: “Virtual currencies are making people think about spending their money in the way they spend it today. For now, it’s just about trading one currency for another. But there’s potential for long-term utility, and Litecoin does that really well.”
He added: “The Litecoin community is well established, and the trading volume on Bitcoin exchanges indicates we’re starting to see people trading Bitcoin for Litecoin to earn. For ZongPay, this is about earning our own money to keep up with the rate of growth of digital currencies.”
If people are going to start using digital currencies as an alternative to the hard currencies, the same thinking must be applied to trading on different exchanges to earn these transactions.
Other Companies Do Not Offer Litecoin Trading
Others like Bitt.net do not allow the sale of virtual currencies through their website. Those who would like to trade litecoin on Bitt.net would have to use exchanges like Bitt24 and BittTech, whose rates are lower.
A crypto-investor in Singapore will only be able to earn between $14 and $20, depending on how long they hold the funds to trade.
However, there are other exchanges which may accept Litecoin, such as Kraken.com and Cryptopia.
Is It A Good Idea For ZongPay?
Recently, Litecoin has received increased attention from exchanges and trading platforms due to its huge surge in value. Also, Litecoin creator Charlie Lee stated that Litecoin is an investment vehicle, not a currency. However, Lee also stated that this does not mean that the currency is not going to be used for transactions.
When asked whether Litecoin was suitable for retail trading, CoinRouter CEO Amit Chandak stated: “As a global money transfer provider with international network, we see the potential Litecoin has in retail payments. It is too early to comment on the use for retail and institutional trading though, as this market is still very small and the trading volume is very low.”
As Litecoin increases in market share among the global currencies, one can expect more operators to offer Litecoin trading, thereby increasing its market share. But more information about using Litecoin for retail payments is also needed, which will take time for this service to be adopted.
ZongPay offers money transfer services using international bank transfer, credit card, and wire transfers. The company was founded in April 2013 and has grown significantly over the past two years.
ZongPay is one of the first and most well-known crypto-payment providers in Singapore.
For more information about ZongPay’s Litecoin trading, visit ZongPay’s website.
The evolution of Bitcoin began in 2009 and, from there, its value soared. During 2013, it became more widely known to the public and its prices began to climb steadily. Since then, the currency has experienced a huge growth in value, reaching approximately $600 on November 23, 2015, before dropping to approximately $430 on April 5, 2016.
Litecoin was created in 2011 to act as a smaller, lighter version of Bitcoin.
Early this month, Litecoin experienced a major surge in value, reaching $25 to $30. Its price has since declined significantly to around $15 to $18, according to CoinMarketCap.com.
To learn more about Bitcoin, visit our resource section.
ZongPay has grown to be a renowned platform for international financial transactions in Southeast Asia.
It offers the ability to easily buy and sell currencies such as Singapore Dollar, Hong Kong Dollar, US Dollar, and British Pound. The company offers the simplest way to send money overseas by matching up businesses with clients in Singapore or Hong Kong, and providing its services for free.
For more information about ZongPay, visit its website.
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