This is a huge step for cryptocurrency because it is a hardware that affects small transactions for day to day living. Most other cryptos are rolling out software with practical use, to make a hardware is a breakthrough. In the long term though, 1% fees is still high for crypto transactions. It is much lower than 3-3.5% visa, but high for crypo transactions if you consider the fact that popular exchanges only charge 0.05% transaction fees. But nonetheless, a great step forward. Well done litecoin! :D