LoafWallet Litecoin iOS and Android Wallet for LTC to Fiat Credit Card Purchases Asks for Beta Testers
LoafWallets Needs Beta Testas for the LTC-Fiat Credit Card Purchases
LoafWallet is the most popular Litecoin IOS and Android wallet. It recently stated that it was in search of Beta Testers for the next upgrade to its platform. The V2.1.3 will include numerous bug fixes. Besides that, it will feature updates to specific device types and best of all, will enable all users to buy LTC using a credit card within the app.
How it Currently Works
LoafWallet currently lets you buy LTC via Coinbase. However, the decision to swap to Simplex came about when the team said that they no longer get a commission from purchases made through this service. The cause of this was because of regulatory issues with a non-US entity. This entity was the Litecoin Foundation, which is a Singapore non-profit that owns LoafWallet.
The new service, Simplex, who attended the Litecoin Summit held in San Francisco will allow LoafWallet users to buy $50 to $20 in more jurisdictions. This will open up Litecoin purchases to over 150,000 LoafWallet users, many of whom reside outside America.
It also appears that the development team for this wallet is expanding their partnerships. This is all in search for new methods to earn revenue. However, what those partnerships will be, has yet to be disclosed.
What to Expect from the Upgraded Version:
- New basic iPad support
- Fix a bug to do with user transaction/memo fiat received values
- Fix a mistake where the app was named BRD instead of LoafWallet and Bitcoin instead of Litecoin
- Improve the reliability and speed of rates ticker
- Adding the simplex buy tool
- Upgrades to the development and testing process
More about LoafWallet
LoafWallet is a single payment verification mobile wallet that works on iOS and Android devices. The development of this project started in 2016, and it was designed to be an open source project. This wallet target LTC owners that trade coins on mobile devices often. Anyone can down this no matter his or her country. All they need is an Android or iOS device.
Charlie Lee, the Litecoin creator, developed the LoafWallet to cater to the needs of mobile device users. This wallet is monitored and maintained by a team of developers that are affiliated with the Litecoin Foundation.
Limitations of This Wallet
If you have any LTC and own an iOS or Android device, you may hold as many LTC as you want. If you are on Window, Blackberry or another smartphone OS, you will not be able to access the wallet.
This is a single-currency wallet. It only supports Litecoins. However, the wallet is quite secure since it does not store any of your digital assets online.
Since Litecoin owns this wallet, the fees for Litecoin users are quite low. The average fee for each transaction is $0.206; the median fee is $0.06.
Is This Wallet Safe?
The wallet was created around the idea of offering mobile users a safe and user-friendly wallet. It was created using app sandboxing and encrypted using AES hardware to boost the security. Besides that, it comes with code signatures and keychain. This ensures there are no browsers issues. It also ensures malware cannot introduce bugs into the wallet.