BitPay, the world’s leading Bitcoin and cryptocurrency payment service provider, has added Litecoin support to its BitPay Wallet app. Consumers may buy, store, and trade cryptocurrency, as well as purchase gift cards, in a safe and secure manner.
Businesses utilizing BitPay should be able to accept Litecoin as a payment mechanism from any wallet starting this week. Newegg.com, the first major e-retailer to accept Bitcoin for purchases in 2014, will become the first merchant to accept Litecoin through BitPay.
According to Andrew Choi, Senior Brand Manager at Newegg, as the first major online shopping destination to cooperate with BitPay to accept Bitcoin (and now Litecoin), Truly, Newegg commits to bringing innovation to online shopping experience. We commit to making online shopping simple for our clients.
North American e-retailer Newegg Commerce Inc. (NASDAQ: NEGG) has operations in Europe, Asia, Latin America, and the Middle East. Founded in 2001, the company offers a wide range of consumer electronics, entertainment, smart home, and gaming products. Newegg and BitPay partnered in 2014 to make Bitcoin transactions easier for US and Canadian customers. As a result of their successful relationship, the companies offered crypto payment options to nations worldwide.
BitPay Supports Litecoin
“Litecoin’s lightning-fast transaction times and minimal costs are great for Newegg. We are happy that BitPay now supports Litecoin, making it simple for merchants to take LTC.” Charlie Lee, co-founder, and CEO of the Litecoin Foundation, said.
Also, Litecoin is a peer-to-peer Internet payment that allows for near-instant and low-cost payments to anybody in the globe. Transaction confirmation times are quicker with Litecoin. Cryptocurrency is rapidly gaining popularity throughout the world. In addition to faster transaction speeds, Litecoin has a market cap of almost $9 billion, making it a popular cryptocurrency for everyday use.
BitPay presently accepts 11 cryptocurrencies in addition to Litecoin (LTC), including BTC, BCH, ETH, XRP, DOGE, DAI, WBTC, and stable coins USDC, GUSD, PAX, and BUSD. Additionally, businesses will be able to accept Litecoin as a payment option without requiring any integration or modifications. This summer, Litecoin settlement schedules to be accessible.
BitPay: What is it?
BitPay, which was founded in 2011, is one of the earliest bitcoin firms, celebrating its tenth anniversary this year. The company’s objective is to alter how companies and consumers transfer, receive and store money. Hence, its business solutions, among other things, prevent chargebacks, lower payment processing costs, and enable borderless bitcoin payments.
Moreover, BitPay provides users with a full digital asset management solution, which includes the BitPay Wallet and BitPay Prepaid Card, allowing them to convert digital assets into cash for use at tens of thousands of merchants. Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth have all invested more than $70 million in the company, which has offices across North America, Europe, and South America. Visit bitpay.com for more details.
About The Foundation
The Litecoin Foundation is a non-profit organization whose aim is to promote and develop state-of-the-art blockchain technology in order to advance Litecoin for the benefit of society. Litecoin is a peer-to-peer digital currency that allows for quick, low-cost payments to anybody on the planet. Thus, the Litecoin Foundation Ltd. is based in Singapore (registration number UEN# 201709179W) and has a global staff of contributors. Visit litecoin-foundation.org for more details.
