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Luno’s 3.5 Million Users Will Soon Start Trading Litecoin (LTC)

UK-based cryptocurrency exchange, Luno has revealed that it will be listing Litecoin (LTC), one of the cryptocurrencies in existence, on its platform.

Luno to list Litecoin (LTC) soon

According to a Tuesday announcement, the exchange said it is planning to list the LTC coin for trading very soon. However, Luno did not give a specific date as to when the cryptocurrency will be listed on its platform.  

Launched in 2012, Luno stated that it has already commenced the necessary preparations to ensure that the LTC is made available so that users can buy and sell the cryptocurrency in the shortest possible time. 

The exchange’s preparation for the LTC listing includes, conducting the necessary checks on its multi-signature hot wallet storage, as well as improving its security protocols, thus eliminating every form of risk associated with using the coin.

Before this time, the exchange supported just a few cryptocurrencies on the platform, including, (BTC), Ether (ETH), Bitcoin Cash (BCH), and Ripple (XRP). The addition of the LTC will make it become the fifth cryptocurrency to be listed on the exchange.  

Luno has been working round the clock to add several cryptocurrencies to its platform and has promised to roll out support for more tokens in the future.  Earlier this year, Luno announced the listing of Ripple (XRP) after snubbing the cryptocurrency for several years.

More mainstream adoption for LTC

Created in October 2011 by MIIT grad and former Google employee, Charlie Lee, Litecoin has been tagged as the silver to Bitcoin’s gold. 

The coin was forked from Bitcoin by its developers and shared the same attributes as the popular cryptocurrency.  However, Litecoin was designed to proffer solution to the delay encountered by Bitcoin in confirming transactions, as the former processes block every 2.5 minutes while Bitcoin takes about 10 minutes to confirm a block. 

Litecoin is the 7th largest coin by market capitalization, according to CoinMarketCap ranking. At the time of writing, the coin is trading at $45.08, with a market cap of $2,912,362,001.

The listing would see LTC being traded by Luno’s more than 3.5 million users located mostly in London, Singapore, U.K, Nigeria, and Malaysia. 

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