Current Exchange Rate
How We Set Our Exchange Rate
LitePay has relationships with many Litecoin exchanges around the world, but we only utilize exchanges which meet our operational and regulatory requirements. When calculating our exchange rates for LitePay invoices, we only incorporate rates of Litecoin exchanges which meet our regulatory, operational, and market depth requirements.
To calculate the exchange rate for US Dollars, we typically pull the market depth from an exchange with adequate liquidity and reliable withdrawal capabilities in the USA and Eurozone. We factor "slippage" into our exchange rates, which means that the larger the value of the invoice, the lower the exchange rate. Slippage is usually only noticeable on very large invoices.
We set exchange rates for non-USD currencies indirectly using the Open Exchange Rates API. In the future, as Litecoin markets mature, LitePay will use those markets directly.