Created by MIT graduate Charlie Lee and former Google engineer, Litecoin was launched in 2011 and was one of the first cryptocurrencies to follow in bitcoin's footsteps. Although Bitcoin is known as the digital gold, Litecoin (LTC) is called digital silver and was developed to complement Bitcoin by addressing issues such as concentrated mining pools and the timing of transactions, as well as making the crypto environment more accessible. Litecoin's biggest advantage over Bitcoin is speed, which is why it is called “Lite” coin.
As demonstrated by liquidity and the daily trading volumes, Litecoin enjoys strong industry support. The coin is also a proven medium of exchange. As of the 1 May 2020, according to Coinmarketcap.com, Litecoin was ranked as the seventh-largest cryptocurrency by market cap
The acceptance rate for Litecoin is high, as the coin is now one of the recognized cryptocurrencies as a means of payment. Faster transactions and low fees are what makes Litecoin an attractive coin for anyone. As a result, thousands of businesses around the world now accept Litecoin as a means of payment through various payment providers; these numbers are continuing to grow. This growth illustrates the potential of Litecoin as a means of payment and further strengthens its simple and basic design allowing for global payments
It is for this reason that the Primereum online marketplace has selected Litecoin as on the coins that will be accepted on the platform
Who is Primereum?
Primereum is a decentralized platform offering a wide array of products, including payment systems, point-of-sale systems, and an online marketplace. Primereum uses blockchain technologies to provide gateways and new, modern, innovative methods of payment. The Primereum ecosystem is also driven by its flagship and stable utility token, the Primereum Fuel (PMF), which is anchored to 1 gram of gold. Litecoin is one of the 30 other cryptocurrencies that has been selected to be used on the Primereum platform.
How Can the Litecoin Community Benefit from Using Primereum?
Primereum enables a freely flowing value transfer for its customers through the establishment of a transparent shared economy which connects buyers, sellers, affiliates, bounty hunters, business owners, partners, advertisers, using cryptocurrencies such as Litecoin. This is based on a peer-to-peer business model.
Litecoin customers can use their coins to purchase the PMF tokens through the Fuel store, which can be used for all our platform services such as, the Marketplace, Wishlist And Remittance system. With the PMF tokens, customers can purchase products on the marketplace and exchange with other members. Additionally, the Wishlist system allows a customer to list a product they want to be purchased on their behalf, in exchange for the PMF token. When a product buyer chooses to purchase the item from the Wishlist, the balance of the PMF tokens offered by the customer interested in buying the product will be kept in the Escrow system. The marketplace will also include competitive affiliate and bounty programs that will provide attractive incentives for the engagement and promotion of the Primereum ecosystem.
PRIMEREUM is a simple and versatile way to shop online using your cryptocurrencies. if you’re a cryptocurrency enthusiast and you hold some Litecoins, you wouldn't want to miss this opportunity.
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Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority. Litecoin was an early bitcoin spinoff or altcoin, starting in October 2011