LTCGear - 'Convert to Shares' Option Now Available for Weekly Payouts！
Litecoin GEAR made an update regarding their payout policy on Oct. 10th, 2014. Now, users of Litecoin GEAR are able to convert payouts to shares, and receive payouts in shares.
Being able to receive payouts in shares could be a great option for long terms investors, especially if they see Bitcoin price falling further.
To put this option to work is simple. Just click on 'My Account' and scroll down to 'Coin choice'.
Once you are at 'Coin choice', you will see 'Conver to shares' option beneath 'X11', 'Scrypt-N', 'LTC', and 'BTC'. Just select 'Convert to shares' and make sure to click on the 'Change' button on the right. That's it!
Once 'Convert to shares' is selected, payouts will be paid in shares at 1K6X Share price (ASIC Share 1K6X is LTCGear's flagship product which retails for $1,805 and is available for $922 after their 49% Anniversary discount using 'anniversary1yr' coupon) discounted by 49% Anniversary + 8% (which we assume is the usual 8% discount given for Bitcoin purchases).
We're not sure if the instruction here means
(1) 60% OFF of retail price of $1,805 → $722
(2) If '60% discount' is a mistake and is actually 57% OFF(49% Anniversary + 8%) of the retail price of $1,805 → $776
(3) If '60% discount' is a mistake and is actually 49% OFF (so $920.55), then a further 8% OFF → $847
but will update once we find out more!