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Lite.im Introduces Litecoin SMS Payments Globally

Lite.im is a very powerful service in the cryptocurrency industry, as it facilitates the use of Litecoin SMS payments on a global scale. Making cryptocurrencies easier to use will improve overall adoption in the long run. Mobile services will play an increasing role of importance in this regard.

The Lite.im Concept

lite.im

lite.im

To this day, it is nearly impossible to transact in cryptocurrencies using simple text messages. Although a few services exist for Bitcoin and Bitcoin Cash, most other cryptocurrencies are left in the cold. That situation is finally coming to change courtesy fo Lite.im, a service which has not gone live just yet.

How Does it Work?

It is evident from the start Lite.im serves one specific purpose. It introduces Litecoin SMS payments on a large scale, which can have a lot of interesting consequences moving forward. On the surface, it allows for anyone in the world to send and receive Litecoin transactions by just using a mobile phone number. There is no need to rely on the Internet, which is always a good sign.

On the technical side of things, users can send messages through SMS or Telegram. Catering to both markets is a smart decision by the team, as it is evident not everyone has access to the internet, even in this day and age. The functionality users can enjoy include checking balances, receiving transactions, and so forth.

As is always the case with services like these, one has to wonder how private keys are handled. The information will not be stored by Lite.im, as the user is the only one with access to this vital piece of information. That is an integral part of the service, as it needs to be a trustless service first and foremost. Lite.im can be a very powerful service moving forward, although it remains to be seen if it can boost Litecoin’s overall appeal.

The Road Ahead

Users who show an interest in this service can check out the Telegram version, or pre-register for the SMS version. The project’s code is also available on GitHub, which shows the developers are intent on being as transparent as possible. How the project will be received by the general public, will become more apparent in the months ahead. Improving overall Litecoin awareness and adoption is always a challenge, but services like these can make a real difference.

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Bitcoin Cash Price Analysis: BCH/USD Turned Buy on Dips Near $435

Key Points Bitcoin cash price recovered recently before facing sellers near $450 against the US Dollar. There was a break below a major ascending channel with support at $445 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to find a lot of support on the downside near the $435 and $430 levels. Bitcoin cash price is showing positive signs above $435 against the US Dollar. However, BCH/USD must surpass the $450 resistance to gain upside momentum. Bitcoin Cash Price Analysis Recently, we saw a decent recovery from the $420 support in bitcoin cash price against the US Dollar. The BCH/USD pair traded above the $430 and $440 levels to move into a positive zone. The price also settled above the $430 level and the 100 hourly simple moving average. However, the upside move was capped by the $450 resistance area. A high was formed at $452 and later the price corrected lower. It declined and broke the 23.6% Fib retracement level of the last wave from the $423 low to $452 high. Besides, there was a break below a major ascending channel with support at $445 on the hourly chart of the BCH/USD pair. The pair traded close to the $440 support area and later recovered. It seems like the price is well supported on the downside near the $440 level and the 100 hourly SMA. Moreover, the 50% Fib retracement level of the last wave from the $423 low to $452 high is also near $437. Looking at the chart, BCH price is well supported above the $440 and $435 levels. Having said that, buyers need to push the price above the $450 resistance zone for an acceleration towards or above $460. Looking at the technical indicators: Hourly MACD – The MACD for BCH/USD is slowly moving in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently near the 50 level. Major Support Level – $435 Major Resistance Level – $450 The post Bitcoin Cash Price Analysis: BCH/USD Turned Buy on Dips Near $435 appeared first on NewsBTC.

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