Global provider of bitcoin (BTC) and crypto payment services BitPay has announced that it now supports Litecoin (LTC). refore, companies using BitPay should now accept LTC as a payment option.
Recent reports indicate that Newegg.com, a technology-focused online retailer, will be the world’s first merchant to accept LTC through BitPay. first of what Litecoin Foundation believes to be thousands.
LTC creator Charlie Lee noted: “Litecoin’s fast transaction times and super low fees are ideal for an e-commerce giant like Newegg.
“We are very excited that Litecoin is now compatible with BitPay, making it easier for any merchant to accept LTC.”
A history of early adoption
Newegg.com was also the first company to accept BTC as a payment option in 2014. At that time, the online retailer first partnered with BitPay. Initially, the BTC payment option was only available in the United States and Canada. However, the successful collaboration allowed them to extend the option to their clients in an additional 73 countries in 2019.
Andrew Choi, Newegg Senior Brand Manager, commented: “As the first major online shopping destination to work with BitPay to accept Bitcoin and now Litecoin, Newegg supports our first customers globally and underscores our commitment to delivering innovation in the online shopping experience.
” enthusiasm and momentum around crypto is undeniable and we are committed to making it easy for our customers to shop online.”
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Additionally, the company added the meme-inspired Dogecoin (DOGE) in April, at the peak of its remarkable growth.
BTC, LTC and DOGE make up the 12 cryptocurrency payment options also available on BitPay. It is compatible with other market leaders such as Ether (ETH) and Ripple (XRP), as well as Bitcoin Cash (BCH) and wrapped Bitcoin (WBTC). Also, the platform supports stablecoins such as US Dollar Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard (PAX).
LTC deal is reportedly expected to be available on BitPay in the summer of 2021.
Litecoin on the rise
Although not approaching the peaks reached in May, the data indicates that LTC had a good week. Rising steadily from a dip it faced around July 20, it saw a low of $ 104.33 at the time.
And while that price growth was certainly not monumental, it is still significant. At press time, LTC was worth $ 147.24. Furthermore, it was ranked as the 14th most valuable cryptocurrency by market capitalization.
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