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What you get in return is convenience, security and the ability to pay anywhere in the world with one single mode of payment which in this example is the credit card. For example, a payment processor processes a credit card transaction and a company gets paid minus the processing fee shared between the credit card company and the processor. A Litecoin merchant is a company that authorizes payments on behalf of individuals to companies.

Mining imposes a chronological order in the block of blocks, protects network neutrality, and also allows different computers in the network to agree on the condition of the system. These rules prevent previous blocks from being modified because this would invalidate all subsequent blocks. With Litecoin merchant you can process and issue invoices yourself or you can use the services of a trader and receive directly you country value or Litecoins. Mining also prevents a case where an individual can easily add new blocks sequentially in the block chain. In this way, no individual can control what is included in the block chain or replace parts of the block chain to withdraw their own transactions. Most stores and outlets use a tablet or mobile phone to allow customers to pay through wallets on their mobile phones. To be confirmed, transactions must be included in a block that complies with very strict cryptographic rules to be verified by the Litecoin network. Mining is a distributed consensus system used to confirm pending transactions by including them in the block chain.

This works through an established centralized Coinomat and Wavesplatform gateways: Litecoins or any supported external coins are sent to a user's personal Waves address via standard transfer and after the depositing user receives Waves based tokens (wBTC) issued in the Waves blockchain. Waves platform allows you to hold and transfer external currencies on its blockchain. Litecoin merchants facilitate the immediate transfer of Litecoin and offer altcoins into fiat currency. Every single gateway tokens are backed 1:1 with the real external coins.At the moment, there are gateways for Litecoin, Litecoin, ZCash, Litecoin Cash, Dash, Monero, Litecoin SV managed by the Coinonmat gateway and Ethereum, Waves Enterprise, Ergo, Bancor managed by the Waves platform gateway. Litecoin payments are becoming more and more popular with shops and online retailers by the thousands already accepting it as well as others cryptocurrency as part as their payment channels. They allow merchants to automate these payments and provide a host of other tools and reports to help make the whole process as convenient as possible. Litecoin currency has and automated payment processing system named BitPay. This enables online Litecoin merchants to accept Litecoins as a form of payments, just as easily they accept payments from credit cards, debit cards, or Paypal.

In practice, receivers who want to set prices in fiat terms must also let the same centralized server choose the appropriate exchange rate. Automated recurring payments are not possible with decentralized Litecoin wallets. Even if a wallet supported automatically sending non-reversible payments on a regular schedule, the user would still need to start the program at the appointed time, or leave it running all the time unprotected by encryption. The spender will still need to start the program on a regular basis and authorize payment—but it should be easier and more secure for the spender than clicking an emailed invoice, increasing the chance receivers get paid on time. This means automated recurring Litecoin payments can only be made from a centralized server which handles satoshis on behalf of its spenders. So, in the future, extensions to the payment protocol and new wallet features may allow some wallet programs to manage a list of recurring transactions.

You must first go to a Litecoin merchant that will exchange your euros for Litecoins or other crypto-currencies. You will then be able to manage your investments independently. Most of the time, the purchase is done by PayPal, credit card (instantly) or by bank transfer (24 / 72h). Simply select a service, register, and then purchase the virtual currencies you want. The crypto-currencies like Litecoin attract more and more interest, thanks to their unique technology called Blockchain.

Posted on Oct 24, 2019