BitPay Adds Support For Litecoin (LTC)

BitPay, an international Bitcoin (BTC) as well as crypto payments provider, has declared that it will support LTC (Litecoin) from now onwards. It means that the firms which are utilizing BitPay should embrace LTC to be an option for payment.

It has been indicated by the recent reports that a tech-focused online retailer ‘Newegg.com’ will be among the earlier merchants across the globe which would accept LTC through BitPay. According to Litecoin Foundation, there would be thousands of investors to use it. Charlie Lee, the manufacturer of LTC, stated that the giants of e-commerce such as Newegg have the opportunity of taking benefit from the considerably low fees as well as the fast transactions of Litecoin. He further expressed that BitPay’s support for LTC is, no doubt, a significant move for making it convenient for the merchants to adopt LTC.

The earlier adoption history

Back in 2014, Newegg.com was among the earlier businesses which accepted BTC to be an option for payment. That was the time when a contract was made between Newegg.com and BitPay. Initially, only the consumers from Canada and the United States could avail the option of BTC payment; however, the accomplishment of partnership enabled them to include their users from 73 more countries to be allowed to access the payment option in 2019.

Newegg’s Senior-Brand-Manager named Andrew Choi, commented that the priority of their platform while working with BitPay was to adopt Bitcoin and, after that, Litecoin. He further disclosed that the company intends to support its early adopter consumers across the globe and also focuses on its promise, which is to incorporate innovation into the shopping experience on the online market. He added that the crypto community is excited as the users will easily shop online. Moreover, a meme-inspired coin, DOGE (Dogecoin), was added by the company in April when the firm was making considerable progress.

Litecoin: a gradually hopping currency

Although the coin was not having much potential previously after May however data shows a progressive week for LTC. It had gradually moved out of its fall around 20th July when it noticed a low point of about $104.33. This progress, even if it is not so much encouraging, plays an important role in regaining its position. Currently, LTC is ranked to be 14th of the maximum valued cryptocurrencies according to market capitalization.