My question is which sectors could be influenced mostly by LTC? Areas where other coins aren’t as useful as LTC.
Not exactly sectors… but since 99.9% of businesses in the United States are small businesses and the majority of business transactions are quite small. Litecoin would be a gift for these and micro-transactions.
And of course the transactional nature of e-commerce which is continuing to grow.
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I think I agree with you here. This area can be mostly influenced by LTC and can be very useful. But how do you think we reach such a high level of adoption?
Its a slow process, but this method of payment and store of value is becoming more and more accessible to people. Easier and easier. With Paypal and Visa joining in this is a huge leap in adoption. Who’s next?
Yeah, you are right we will have to wait and watch. I think we will reach this point when we start considering it as more as a currency and not a gambling medium. Most people still consider crypto as a gamble.
Multiple companies such as Blockfi and Celcius pay interest on Litecoin, currently even higher interest than for Bitcoin.
What HODLer doesn’t like to earn more Litecoin.
While there are a few other coins they pay interest on, or coins that you can earn with staking, none of those other coins are literally traded on almost every exchange world wide.
Hence Litecoin is useful around the world.
What would be helpful for adoption are Litecoin wallets where users can select their home currency regardless of country. To always have near realtime values.
Upcoming credit card wallets will help with adoption too. Imagine you fund your cc wallet with Litecoin, earn 6.5% interest and can use it to pay anywhere world wide where cc are accepted. The perfect bridge until people go native.
You could win most of Africa if you had a Litecoin wallet that can convert Litecoin into local airtime in all African countries. As many people, short of cash, trade airtime, aka pay goods with mobile phone airtime.
Many relatives abroad in Europe, America send money back home paying high fees. They could buy Litecoin, send Litecoin to their family in Africa who will then convert it to airtime to trade - initially. Getting familiar with Litecoin they might then keep LTC and trade with LTC, especially if their LTC wallet also pays interest.
To sum it up
LTC wallet that pays interest, can convert to local airtime in Africa and offers a credit card if people want it.