BitPay, which is the world’s largest provider of Bitcoin and digital currency payment services, announced its support towards Litecoin. BitPay adds Litecoin crypto in the BitPay wallet app. Consumers can store, swap, and buy crypto along with purchasing gift cards securely and safely. Let us have a look at some of the Litecoin news today.
Starting this week, businesses that use BitPay are expected to accept Litecoin as a method of payment from any wallet. Neewegg.com will become the first business entity to accept Litecoin via BitPay just as it did in the case of Bitcoin in 2014. According to the Senior Brand Manager of Newegg, Andrew Choi,
“As the first major online shopping destination to work with BitPay to accept Bitcoin and now Litecoin, Newegg supports our early-adopter customers globally and emphasizes our commitment to bring innovation to the online shopping experience.”
He further added,
“The excitement and momentum around cryptocurrency are undeniable, and we are committed to making it easy for our customers to shop online.”
Newegg Commerce, Inc.
The Newegg Commerce, Inc. is one the biggest technology based e-retailer in North America which has a global reach in Europe., Latin America, Asia Pacific, and in the Middle East. This company was founded in 2001 and provides its customers a comprehensive range of recent consumer electronics, smart home, entertainment, and gaming products. In 2014, Newegg partnered with BitPay to conduct transactions in Bitcoin for their customer base in Canada and in the United States. Now when BitPay adds Litecoin crypto, it is expected that Newegg will collaborate with Litecoin as well to facilitate transactions in Litecoin.
According to Charlie Lee, who is the managing director and creator of Litecoin,
“Litecoin’s fast transaction times and super low fees are ideal for an e-commerce giant like Newegg. We’re extremely excited that Litecoin is now supported by BitPay, making it very easy for any merchants to accept LTC.”
Litecoin is a peer-to-peer digital currency that allows instant, zero cost payments to anyone around the globe. Litecoin offers confirmation in faster transaction times. Digital currency is being accepted around the globe at an incredible rate. The customers of Litecoin benefit from quicker transaction times, on average every 2.5 minutes along with a market capitalization of nearly $9 billion, which makes it a top digital currency option for mainstream use.
Along with Litecoin (LTC), BitPay presently accepts 11 other cryptocurrencies that include Bitcoin, Bitcoin Cash, Ethereum, Ripple, Dogecoin, DAI, Wrapped Bitcoin, and stable coins USDC, PAX, GUSD, and BUSD. Litecoin will be accessible for businesses to accept as an option for payment without the need for any enhancements or integration. Settlement in Litecoin is predicted to be available this summer.
BitPay, which was founded in 2011, celebrates its 10th birthday in 2021 as one of the oldest digital currency companies. As a pioneer in the payment processing of blockchain, the mission of the company is to alter how businesses and people receive, send, and store currency. Its business solutions decrease the cost of payment processing, eradicate fraud chargebacks, and allow borderless payments in digital currencies, among other services. BitPay provides consumers a full management solution of digital assets that include the BitPay Wallet and BitPay Prepaid Card, allowing them to alter digital assets into dollars for spending at tens of thousands of businesses. The entity has offices in Europe, North America, and South America and has received more than $70 million in funding from top investment firms which includes Index Ventures, Founders Fund, Aquiline Technology Growth, and Virgin Group. Recently BitPay adds Litecoin crypto to create new avenues for this crypto.
About Litecoin Foundation
The Litecoin Foundation is a non-profit organization that aims to advance LTC coins for the betterment of the society by formulating and promoting state-of-the-art blockchain technologies. It is a peer-to-peer digital coin that allows instant, zero cost payments to anyone across the globe. The headquarters of Litecoin Foundation Ltd. is in Singapore with an active team working from around the globe. As per the Litecoin price prediction, it is expected to reach $398 by the end of 2025.
In a recent announcement by BitPay, it has been asserted that BitPay adds Litecoin crypto to their wallet. Along with that it also offers 11 other digital currencies. And this opens new avenues for Litecoin as well. People get more accessibility to this crypto.