Luno, a top-rated cryptocurrency exchange platform in South Africa and Nigeria has announced that they will add Litecoin (LTC) before this month goes to an end.
“We can confirm that LTC will go live to all customers on the 11th of May. Customers will be able to create their LTC wallets, send/receive, and use instant buy/sell. The exchange will be in post-only mode on Monday 11th, and will be in full post mode on Tuesday 12th May.” a well-placed member of the Luno Africa team said.
Be it in South Africa or Nigeria, Luno is very popular. It recently entered the Ugandan market and it is doing pretty well. Note that Luno is the most popular exchange in Malaysia.
As of the time of writing, it is without a doubt that Litecoin has gained relatively low adoption on the African continent as a handful of exchanges support it. Also, there is a very little community around it. Hence, we can say with a reasonable degree of certainty that this new addition might give Litecoin a boost on the continent.
Litecoin is a digital currency that dates back to October 2011. Since its launching in 2011, it has been branded as a quicker version of Bitcoin and it is currently the 7th highest cryptocurrency by market cap.
The lead developer, Charlie Lee, is an MIT graduate and former employee of Google and Coinbase. As cryptocurrencies have been seeing an uptrend for the past few days, Litecoin has recorded up to 7% gains.