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Monday, Sep 20, 2021

BitPay Adds Litecoin Global Support, Newegg First to Jump On Board

BitPay Adds Litecoin Global Support, Newegg First to Jump On Board

World’s largest provider of Bitcoin and cryptocurrency payment services, BitPay, today announced support for Litecoin in the BitPay Wallet app. Newegg will become the first merchant to accept Litecoin through BitPay just as it was the first major e-retailer to accept Bitcoin for purchases back in 2014.

Consumers are now able to buy, store and swap crypto in addition to buying gift cards safely and securely. Starting this week, businesses using BitPay are expected to be able to accept Litecoin as a payment method from any wallet.

Andrew Choi, Senior Brand Manager at Newegg commented:

“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.”

Newegg Commerce, founded in 2001, is one of the leading tech-focused e-retailers in North America, with a global reach in Europe, Asia Pacific, Latin America and the Middle East. In 2014, Newegg partnered with BitPay to facilitate Bitcoin transactions for Newegg’s customers only in the United States and later in Canada. The companies built on this successful collaboration by extending the crypto payment option now to countries globally.

Charlie Lee, creator of Litecoin and managing director of the Litecoin Foundation said:

“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, a peer-to-peer Internet currency, enables instant near-zero cost payments to anyone in the world. Litecoin features faster transaction confirmation times than for example Bitcoin. Cryptocurrency is being adopted around the globe at an incredible rate. Litecoin customers benefit from faster transaction times, on average every 2.5 minutes and a market cap of close to $9.7 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.

Source: BitPay Adds Litecoin Global Support, Newegg First to Jump On Board – Fintechs.fi

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