LTC is the top cryptocurrency when is used in Sports Betting. Otherwise, Litecoin’s purpose is to be used as a currency, pay for goods and services, send donations in Litecoin, send mass payouts, launch new tokens & NFTs, store of value, and for peer-to-peer transactions.
In everyday life, Litecoin can be used to pay for all kinds of services. There has been an active introduction of LTC cryptocurrency as a payment unit in such major companies like Travala.com, eGifter, Alza.cz, Future. Travel and others.
LTC has been used for charitable purposes like Africa Aid, All Hands and Hearts, Cedars Home for Children and several others. There are bloggers, video streamers and others accepting Litecoin Donations.
Mass payouts like salaries, rebates, rewards and others can be made using LTC. LTC payments help get rid of high commission money transfers in a way simplifying the remuneration for freelancers and remote workers.
Litecoin can also be used to make payments to friends and relatives abroad. It is used as a store of value (SOV). It is easy to exchange LTC for a national currency.
It is true that there are more worthy projects coming up; however, LTC has been very focussed without exaggeration. They have sustained an organic growth as a payment tool. The network has never been hacked.
In America, you can legally access Litecoin gambling sites to bet on your favorite sports because there are no federal US betting laws preventing you from doing so. Further, The Wire Act applies only to US-based sportsbooks that take wagers across state lines.
Problems for LTC as a payment tool: About the privacy rules applicable for Litecoin: Canadians have to say that it is against their law and therefore once LTC Litecoin adds privacy feature in its money transmitter platform it is going to be illegal to use in Canada as it is violation against money laundering rules. Ontario Securties Commision banned Binance it will ban Litecoin too!
While “The real question is when MimbleWimble will work on Litecoin?” the issue is when it works Canadians will have problems using it.
While things can be complicated for Canadians, Japanese citizens will not have trouble using LTC as The Japan Virtual and Crypto Assets Exchange Association (JVCEA) plans to release a list of 18 pre-screened coins and LTC is a part of the list.
Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9
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