Walmart, one of the number 1 retailers in the USA, announced that it will make a major partnership with Litecoin. The eCommerce giant aims to give its millions of customers worldwide the opportunity to seamlessly pay with altcoin LTC. Here are the details…

Walmart CEO Doug McMillon announces date for altcoin LTC

Walmart CEO Doug McMillon said a “Pay with Litecoin Option” option will be available in all eCommerce stores on October 1. McMillon made the following statements for Litecoin and integration:

The momentum and excitement in the use of cryptocurrency is undeniable and we are ready to facilitate online shopping for our customers. As a leading e-commerce store, we are committed to innovating the online shopping experience. By integrating Litecoin, we are able to ensure that shoppers have a very seamless payment experience with near-instant transaction confirmation and near-zero fees wherever they are in the world. We are very excited to work with the Litecoin Foundation and further innovate our business.

Walmart has long been one of the earliest adopters of Blockchain technologies, starting in 2016 to trial the digital ledger for supply improvements. Now, with this partnership, Walmart will offer shoppers to use Litecoin to take advantage of the cryptocurrency’s features. Charlie Lee, founder of Litecoin and CEO of the Litecoin Foundation, shared his thoughts for the partnership:

LTC’s super low fees and fast transaction times are perfect for a leading e-commerce store like Walmart. We are thrilled and excited that our cryptocurrency is now backed by Walmart and more are opening up. New opportunities arise for any trader to accept Litecoin in the future.

Why did Walmart choose Litecoin (LTC)?

Why Litecoin? Launched in 2011, Litecoin is one of the oldest altcoin projects in the crypto ecosystem. Litecoin (LTC) is similar to Bitcoin (BTC), uses the same code as the latter and shares many similarities. However, Litecoin is cheaper and faster than Bitcoin. Litecoin is also a P2P cryptocurrency that facilitates cross-border transactions and improves digital payment systems. Like Bitcoin, Litecoin has no central authority. It is also designed to be used for cheaper transactions and more efficient for everyday use. Although mining Litecoin requires more advanced technology than Bitcoin, blocks are actually produced up to four times faster. Litecoin also processes financial transactions much faster.

How did the announcement affect the price of altcoin LTC?

After the news, LTC price saadollarser has been in high demand. It put its intraday gains close to 30% and is currently trading at $226 with its extremely volatile price. The chart of LTC after the September 7 crash created this unique picture:

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Michael Lewis


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