As many of you are now aware, Midas has listed Litecoin (LTC) as an Instant Share, available for deposit on the Midas.Investments platform. Log in to your Midas account and make your first deposit of Litecoin, and begin earning rewards on your holding!
At the time of writing, Litecoin is trading at a value of $39.10 per coin (about 0.0061 BTC), has a circulating supply of 64,407,643 coins, and a market capitalization of $2.5 billion. This valuation makes it the #7 ranked cryptocurrency on the market.
Excluding Bitcoin, listing Litecoin is the highest ranked coin that Midas has added to its offering since Dash, which is currently ranked at #20 with a market cap of $609 million. While LTC is not a masternode coin, Midas is among the industry leaders offering a 10% annual ROI on LTC deposits. These interest payments will be made on a weekly basis.
The LTC share follows in the same vein of the BTC share, which was Midas’ first innovation of this type. The BTC share pays 15% annually, with interest payments made on a weekly basis, just as with LTC.
Please note that due to regulation, neither the BTC or LTC shares are available for United States citizens.
The LTC listing coincides with LTC being listed to the exchange, with a trading pair against Bitcoin. Due to the nature of the Midas exchange, users now have the ability to both trade and earn interest on their LTC simultaneously! Users may purchase their LTC via Instant Buy and then place sell orders. These coins will continue earning interest until the order goes through – therefore discouraging dumping of the coin.
There is also the added benefit to the ecosystem of having LTC as a way to deposit funds to the platform. LTC is a much cheaper and faster way to move crypto funds, as its block time is significantly faster than Bitcoin. Users could send LTC to their LTC share, swap for BTC on the exchange, and then purchase their favorite masternode coins via Instant Buy. Instead of waiting for the long confirmation times that BTC requires, this provides a faster alternative.
Midas is continuing to expand its services, and the listing of LTC opens a variety of potential additional utilities, such as making Instant Buy purchases with LTC directly!
At the time of listing for LTC, Midas also conducted a Litecoin airdrop to its burn-out users, only increasing the benefits of utilizing this unique feature of the platform.
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