Waves is announcing today two new gateways to add to the growing list of fiat and crypto-backed tokens offered within its ecosystem.
Litecoin (LTC) and Zcash (ZEC) gateways are now open and can be used to move these currencies into and out of the Waves blockchain.
Once the currencies have been confirmed as received by the gateway, the user’s wallet is credited with a Waves token that is 1:1 backed by the cryptocurrency held within the server.
Whenever a user wants to withdraw LTC or ZEC back to a local wallet, the same operation is carried out in reverse. Fees are minimal and the only delays are those required by blockchain confirmation times.
Like existing options within the Waves wallet, the gateway service is provided by Coinomat.com. Whilst AML/KYC processes need to be observed for fiat transfers, these are not required for cryptocurrencies.
“We’re really pleased to be able to announce that two more currencies are being supported within the Waves client. Litecoin and ZCash are two of the most liquid coins and very popular among traders. By providing fully backed tokens, we enable the community to trade LTC and ZEC on DEX against any other Waves tokens — continuing to increase the options for traders who no longer wish to use centralized crypto exchanges.”
In addition to the wallet updates for the new gateways, users will find their address is now also represented by a QR code within the Lite client, making it more convenient to make payments and payment requests.
TheBitcoinNews.com – Bitcoin News source since June 2011 –
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise
For the latest cryptocurrency news, join our Telegram!
