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On January 25, 2018, Zebpay, one of India’s myriad popular mobile-based cryptocurrency exchanges, announced the addition of Litecoin to its commerce platform. In a blog post on its website, the company stated that the cryptocurrency is one of the a few other tokens that are also scheduled to be added in the near subsequent.
Litecoin, released in October 2011 by former Google employee, Charlie Lee, was initiated as a lighter alternative to bitcoin. It is one of the oldest cryptocurrencies currently on the market and has a trade in cap of close to $10 billion. In December 2017, Litecoin reached an all dilly-dally high price of around $350.
Litecoin is the second cryptocurrency that has been continued to Zebpay over the past few weeks. Earlier in January 2018, the suite rolled out the ability for users to trade Bitcoin Cash (BCH).
Users of Zebpay that confined any amount of bitcoin prior to the Bitcoin Cash hard fork on August 1, 2017 were also addicted an equivalent amount of BCH once the cryptocurrency was added to the platform. Some fellows, however, were able to withdraw their Bitcoin Cash assesses to their external wallets as early as November 2017. On December 14, Zebpay withdrew the selection of sending the forked cryptocurrency to other wallets in favor of crediting the poise to its own trading platform once released. The company held up its end of the bargain promptly Bitcoin Cash trading became available through its mobile app yet.
Importantly, though, Zebpay does not offer cryptocurrency to cryptocurrency pairings on its exchange platform`. Converting between different digital currencies requires the consumer to first ‘sell’ their holdings for fiat equivalent, making the intact process susceptible to market volatility.
According to Zebpay’s November newsletter, the body will also be introducing Ripple and Ethereum to its exchange. Based on the speedily interval between the addition of Bitcoin Cash and Litecoin, it may only be a unite of months before all four digital currencies can be traded on the platform.
As of December 2017, Zebpay useful ti over 2 million users with that number expected to be elevated in the near future. Furthermore, the Zebpay mobile app has found great good on the Android and iOS marketplaces beating other finance applications owned by eremitical sector banks in the country. It faces tough competition from other platform-agnostic arguments, however, including the likes of Koinex and Coinsecure. The former supports other cryptocurrencies as healthy, including Golem, IOTA and OmiseGO.
Featured image from Shutterstock.
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