Bitcoin and cryptocurrency payment service provider BitPay has added support for Litecoin to the BitPay Wallet app.
Consumers can buy, store and swap crypto in addition to buying gift cards safely and securely. Businesses using BitPay are expected to be able to accept Litecoin as a payment method from any wallet.
Newegg.com will become the first merchant to accept Litecoin through BitPay, just as it was the first major eCommerce site to accept Bitcoin for purchases in 2014. Recently it even added the memecoin Dogecoin as a payment method.
“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. The excitement and momentum around cryptocurrency are undeniable, and we are committed to making it easy for our customers to shop online.”Andrew Choi, Senior Brand Manager at Newegg
Since its founding in 2001, Newegg.com has offered customers a comprehensive range of consumer electronics, entertainment, smart home and gaming products.
In 2014, Newegg partnered with BitPay to facilitate Bitcoin transactions for Newegg’s customers in the United States and later in Canada. The companies built on this successful collaboration by extending the crypto payment option to countries globally.
Charlie Lee, creator of Litecoin and managing director of the Litecoin Foundation shared, “Litecoin’s fast transaction times and super low fees are ideal for an ecommerce 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 Internet currency that enables instant, near-zero cost payments to anyone in the world.
Customers using Litecoin benefit from faster transaction times, on average every 2.5 minutes and a market cap of close to $9 billion, making it a top cryptocurrency option for mainstream use.
In addition to Litecoin (LTC), BitPay currently accepts 11 other cryptocurrencies including BTC, BCH, ETH, XRP, DOGE, DAI, WBTC and stable coins USDC, GUSD, PAX and BUSD.
Litecoin will be available for businesses to accept as a payment option without the need for any integration or enhancements. Settlement in Litecoin is expected to be available this summer.
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