Charlie Lee and the rest of the Litecoin team had a good start for 2018. The digital currency had strong indications that it was the next best thing in the crypto world. However, as months went by, it wasn’t exactly the case. Litecoin was able to reach its all-time high at $296.45 on January 6, 2018. Unfortunately, just like Bitcoin, Litecoin is struggling. It has since remained steady in the range of $111.33 to $122.28.
However, Litecoin has launched a campaign with the goal to increase the adoption of the digital currency. And so far, there are different companies that have already adopted the cryptocurrency. SurfAir, for instance, is already accepting LTC as an alternate payment.
SurfAir is a cargo company that is based in California. It is known for providing different types of services that involve commuter airlines.
VRPorn Accepting Litecoin
And now, VRporn platform is now accepting Litecoin. Though this kind of platform in the adult industry is quite new, could this lead to good or bad news for Litecoin? So far though, the community is actually divided when it comes to this kind of adoption. For instance, it isn’t exactly the reputation that Litecoin wants to build. Though Verge has already had a deal with Pornhub, Litecoin would want to make an impact. But for those who welcome the move by VRporn, its acceptance will boost the popularity of Litecoin’s adoption.
Different Businesses Accepting Litecoin
There are different businesses today that are accepting Litecoin. And it is a good idea that you know some of these companies. For instance, you have the New York-based gift website eGifter that accepts both Litecoin and Bitcoin. You also have Ellenet which is an Australian IT solutions provider that also accepts both cryptocurrencies. And the best part is that you can even buy a car on Benz and Beamer.
Outlook for Litecoin
There are a good number of reasons why Litecoin might spike in value soon. For instance, you have the leadership of Charlie Lee. He has solutions to some of the most common problems that Bitcoin will most likely encounter. For instance, what if the last Litecoin has been mined? His answer is to increase the number of LTC instead of just settling with a fixed number of digital coins.
If you will look at the latest release fo Litecoin 0.15.1 version on March 2018, it made us of C++ language and is compatible with different operating systems such as Windows, OS X, Linux, and Android. And also, you have to take into consideration the speed of completing transactions in the Litecoin network. The average transaction can be confirmed within 2.5 minutes compared to that of Bitcoin that takes so much longer. And also, because of its Proof of Work Algorithm, mining can be considered straightforward.
Though the future is still uncertain and the fact remains that Litecoin is struggling to reach its all-time high early this year, the number of companies adopting the cryptocurrency is good news. It won’t be surprising if Litecoin experiences another bull run in the near future.