TL;DR Breakdown
• Litecoin has gained fame for its fast transactions and low fees.
• Newegg has accepted payments in Bitcoin since 2014 and hopes to expand its cryptocurrencies adoption.
Litecoin is back in trend because companies that use BitPay will now accept crypto as a means of payment. Even these platforms want to save and exchange Litecoin for other equally popular cryptos and purchase gift cards.
The Newegg retail store will become the first to accept crypto linked to the Bitcoin network using BitPay. Newegg is also remembered for being the first store to accept Bitcoins as payment in 2014.
Litecoin: the fast payment cryptocurrency
Litecoin is a cryptocurrency with a very functional network because it accepts payments instantly. This token is gaining popularity in the crypto market because its transaction fees are low, even almost non-existent. Many people and businesses take advantage of crypto to make their transactions daily.
Token users take advantage of those transactions completed in seconds without asking for extra money in return. For now, the crypto capitalizes on the 9 billion dollars, making it the token of commercial use.
Newegg’s manager, Andrew Choi, believes that the store has become the ideal destination for customers using cryptocurrencies. As Newegg has partnered with BitPay, users can now accept Litecoin and Bitcoin online as a form of payment. Choi takes advantage of the boom that crypto has caused to include it in the retail store very popular in North America.
Newegg opened its doors in 2001 and offers various entertainment products, appliances, home products, games, etc. By 2014, the store partnered with BitPay to accept crypto payments with Bitcoin within North America. However, crypto was not as well-known as it is today.
Now Newegg not only accepts Bitcoin as payment but also Litecoin and offers fast transactions. Litecoin popularity may not be that high, but it does have a good following.
Charlie Lee, Litecoin’s creator, thinks that the crypto changes the transactions’ process, saving the user time. Crypto is ideal for electronic purchases in retail stores such as Newegg. Lee is pleased with the merger of Newegg with Bitpay because now the user can pay for their products with LTC.
BitPay has over 11 cryptos in its collection, including Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, XRP, WBTC, and DAI. The payment provider also supports stable cryptocurrencies such as USDC, BUSD, PAX, and GUSD to use smoothly.
LTC is expected to enter BitPay’s listing by the summer under a secured transaction system. This announcement may make the LTC price skyrocket by ranking up among the most popular crypto.
For now, LTC is trading at $143.58, up 2.69 percent in the last 24 hours, according to CoinMarketCap. The crypto is ranked number 15 among the favorites below Solana, Bitcoin Cash, and Chainlink.
