Bitcoin Forum

Let me begin by saying 2 things:

1. I didnt create this thread to spread FUD, fear or any other negativity so please take that into account before attacking me that I am!
2. I own a certain amount of Litecoin and would love for it to skyrocket as much as the next guy.


As many probably know LitePay has announced that on FEB 26 their LitePay service will be launched. Everyone who has their card will be able to send/receive LiteCoin payments. This sound great! The price of LiteCoin goes up about 30-35% in the following days.

But something about LitePay is bothering me.
The look of their website and its content doesn't look very serious to me, take a look for yourself
https://www.litepay.us/

It offers very little information. The site doesn't mention partnerships with banks, clients, the team behind the project, advisors, experts...
On the top of the page you can read their official DOCS by clicking on the DOCS button but up until a few days ago there was no content there whatsoever. Now they added the very basic information in the last few days.
https://www.litepay.us/docs/what-is-litecoin.html

The only link to a social media is a twitter link at the bottom of their site. Their twitter profile was created on 23 December 2017! They only have 2 tweets on their profile, last one on 13 February saying:

The Official LiteCoin twitter offers very little information about Litepay on their Twitter profile. A few times they have retweeted what others have said about LitePay or LitePay tweets, but officially from LiteCoin there have been no tweets. Dont you think this is weird? Would it not be in their interest to talk about this as much as possible and promote LitePay on their sites?

Personally it doesnt look like LitePay is a serious company who I would trust with my money.
What is your opinion on Litepay?





I think we should be able to talk about this objectively. Like I said above, I have no intention to spread FUD or fear but this is merely a warning and my observation. For the sake of Litecoin (which I own personally) I hope that I am wrong and that on the 26th FEB this service will result in LiteCoin skyrocketing.
 

Well supposedly it launches in less than 24hrs

I put my email up to be contacted on pending launch..nothing as of yet...I wonder if they are gonna postpone it

I see no news on a firm time on Feb 26th 2018....or if/when it is still even a go or not

lurking...

Any update, did you get info over the email?

yeah....litepay is currently dead VISA pulled the plug me thinks on that part..the merchant part is still going...but look at bitpay

they have had 3 years to do bitpay and they still don't have a credit card option yet..does not look like this is anytime soon it wil happen IMHO.

link:

https://themarketmogul.com/litepay-release-date-delayed/ (https://themarketmogul.com/litepay-release-date-delayed/)

Thanks for the info. So for now we have to wait. I guess they should have signed this partnership before announcing their service...hmm

The idea itself is brilliant and I’d love to get LTC card. But I’m really disappointed with the lack of information on their website. Whom are they regulated? What countries do they operate in? How do they protect personal data of the clients? Are the transactions secure? No answer. They don’t even have the address and telephone number, just email address.

It makes me pessimistic about this company.

That's already a very good idea. If developers really can make a card for LTC, then the price for it will definitely increase, now there is a global integration of crypto currency, I think that now it is possible to make this card.

That s what I am saying as well. It makes no sense for LiteCoin not to promote LitePay and they are not promoting it.

Well since Litepay is an "independent" project, an when I say this I mean that although it's related to litecoin since it's the coin they are using, it's not a service that is being developed but LTC team itself, so I think it's ok for them not to promote it. They re-twitted information about it, showing they are not against it and they support the project, but I don't think they could make any official statements since it's not their project.

As for the project itself, it really looks like a good project, although I do agree with you, and they don't offer that much information in the site, and it seems they are lacking strong partnerships to go through with all their goals. A big example of that is lack of Visa support, that continues to battle crypto, by not allowing them to use their cards.

Visa battling crypto is not a new thing and the LitePay team must have been aware of this when they announced the launch of their service.
That is one thing that kind of bothers me, why would they announce the launch of their service on February 26 without the support from Visa if thats the issuer they were planning to use. Visa surely didnt call them the day before and said: You know what you dont get to use our cards. It is kind of misleading I think doing it that way. I hope they get a partnership with another card issuer and this project ends up being profitable.  

Yes, indeed, the LitePay site looks very simple and not informative for such a serious project. Their Twitter account is completely miserable and it is alarming. But back in December, Charlie Lee said that LitePay is a separate organization, although he completely picks it up and is inspired by the fact that his coin will become more popular. I think Litecoin will continue to grow, despite the failure of the launch of Litepay on February 26. This will contribute to the news that the developing company LitePal is working on the same thing that LitePay worked on. On February 24, they announced that they had completed the development phase and had switched to software testing, security, etc. LitePal already integrates with some companies, tests the payment infrastructure (although the release is expected in Q2-Q3 2018) and it looks more promising than LitePay. It is planned to support Litecoin and Bitcoin. And one more positive point is that LitePal has officially registered and obtained the necessary permits from the Australian Securities Commission. I leave a link to their blog:
https://litepal.io/blog/2018/02/14/a-warm-update-this-week/

I did not know about this. Thank you for posting the information about LitePal here

Plastic payment debit cards will not save litecoin from his fate. And his fate is to be a useless clone