It is good news for Litecoin (LTC) holders after Abra, the first mobile cryptocurrency trading platform, made and announcement that they can perform direct Litecoin deposits and withdrawals. This means that Litecoin will start using Abra’s smart contract platform to give users access to a wider Altcoins choice using the mobile application. This is a major boost for both partners and will go a long way in helping users make direct deposits and withdrawals on the go.
With the Abra wallet, all you need is to fund it with Litecoin and enjoy the freedom to access all digital coins listed on their platform. LTC is one the largest on Abra in terms of volumes and this is one way of enabling the ever growing community access to a wide range of cryptocurrencies.
With this new development, Litecoin (LTC) fortunes seem to shift to the next level giving its user access to the wider market at the palms of their hand. You do not have to shift between several exchanges to trade or convert your favorite crypto; you can do it using this revolutionary App.
Litecoin (LTC) and 25 Crypto and More than 50 Fiat Supported
The better part of the news is that Abra will be allow users to fund their Litecoin wallets from an external wallet be able to invest in 25 cryptos and over 50 fiat currencies. However, if you want to be part of the movement, you need to ensure your Abra App is up to date read a tweet from their official twitter handle @AbraGlobal:
According to Abra’s official page blog, they are working towards bring ore coin onboard for the ease of direct deposits and withdrawals. Other digital coins that are live on the Abra include Neo, Monero, NEM, Lisk and Verge.
The announcement seems to create a lot of hype among the Litecoin community. However, this might not have a direct ripple effect on the price of LTC in the market but is a value adding catalyst. Abra Wallet has a state-of-the art wallet and an exchange that supports a wide range of digital coins and fiat currencies.
Benefits of Abra App to the Litecoin (LTC) User
This is a very innovative App that contains your HD wallet with capabilities to hold various coins in a single App at a go. There is no need to have a single wallet for every digital coin in your portfolio. You are in total control of your funds through your personalized private key
The App is focused on the future and uses the smart contract protocol whilst using Litecoin as rails. This is an easy to use functional product that is set to change how digital coins are traded in the market.
Short-Term Litecoin (LTC) Performance
With the collaboration with Abra already officially sealed, there are indications that Litecoin (LTC) price is set to surge in the coming days. However, at the time of writing, the coin has shed 3.65% to the dollar to trade at $134.45 and 2.00% to BTC.
Once the user base updates their wallet, things might start looking bright and this could be the boost that LTC has been missing for the last few weeks. A breakout could be in the offing but not strong enough to send the coin back to its all-time high of over $300. However, closing this year above the $200 mark is possible if the entire market recovers.
The investors will have to wait a little longer to start benefiting from the platforms gains. With more announcements expected, the hype will create more awareness and spur additional adoption resulting increased value for Litecoin (LTC). This is the time to HODL for older investors and time to stake for new adopters.