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Payments Giant MoneyGram Enables Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) Trading on App

Payments company MoneyGram is rolling out a new service that allows consumers to buy, sell and hold crypto assets using the company’s mobile app.

In a statement, the money transfer giant says the MoneyGram app’s crypto trading feature will support Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) and is now available to customers in nearly all US states and the District of Columbia.

Says MoneyGram chairman and CEO Alex Holmes,

“We see crypto and digital currencies as another input and output option. As a next step in the evolution of MoneyGram, we’re thrilled to provide our customers with access to a trusted and easy-to-use platform to securely buy, sell and hold select cryptocurrencies.”

The company is bringing the new service to its customers with the help of the crypto exchange CoinMe. The two companies have been working together since 2021 when MoneyGram teamed up with CoinMe to enable customers to buy Bitcoin using fiat currency and convert the digital coin to cash at its physical locations in the US.

In June, MoneyGram also launched a new service in key remittance markets, including the Philippines, US, Canada and Kenya, to bridge fiat money and cryptocurrencies using payments blockchain Stellar (XLM) and the stablecoin USD Coin (USDC).

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Everything you need to know about Litecoin cryptocurrency

It is a peer-to-peer cryptocurrency founded 10 years ago in October 2011 by Charlie Lee, a former Google employee. Litecoin (LTC) was called the “Lite version of Bitcoin” by the founder when it was first introduced to the market. You can store instructions on how to use an LTH right in a digital wallet, certification of ownership, method of asset exchange, and the value and amount of assets transferred.

LTC allows instant payment to anyone in the world at negligible cost – the transaction fee is $ 0.05. It is an open source global payment network with no middleman to process the transaction. One of the hallmarks of LTC is the rapid confirmation of transactions and improved storage efficiency against major mathematical currencies. Other features include liquidity, equity, and faster technology.

Over time, the cryptocurrency is adopted around the world and investors are looking for better options to invest in these private cryptocurrencies. All cryptocurrencies use blockchain technology-based platforms that help maintain open records or locks between seller and buyer. LTC has a finite and predictable supply that would be capped at 84 million mined coins, making it a rare asset that derives part of its value from scarcity. Due to the limited supply, LTC is also traded as silver rather than Bitcoin gold to attract investors.

Investors can buy Litecoin through a cryptocurrency exchange, where LTC is traded regularly, even on weekends. The cryptocurrency thus purchased must be stored in a secure place called digital wallets. These wallets can be stored on Android, iPhones, laptops and desktops using software. Generally, four types of wallets, namely paper wallet, mobile wallet, hardware wallet, and desktop wallet, can be used to store digital currency where access would be via a private key generated at effect.