Cryptocurrency payment service provider #BitPay, which has agreements with many giant companies from all over the world, has officially announced #Litecoin support. BitPay customers will now be able to buy and sell #Litecoin via the app, store or buy gift cards with #LTC.
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Businesses that have a contract with BitPay, one of the largest cryptocurrency payment companies in the world, will now be able to accept Litecoin payments. The first company to use BitPay's Litecoin development has also been announced. North America-based #Newegg.com, which sells technology products to many parts of the world, became the first retail company to accept payments via BitPay in Litecoin, as it did in accepting Bitcoin in 2014 .
Andrew Choi, brand manager for Newegg, also said:
“As the first online shop to start working with BitPay, we are happy to appeal to our Bitcoin and Litecoin adopters. We also continue to support bringing innovation to online shopping.”
Charlie Lee, founder of Litecoin, also said about BitPay's acceptance of LTC for payments, “Litecoin's low transaction fees and fast transaction times make it an ideal solution for e-commerce companies. “The acceptance of LTC by companies like Newegg will increase the purchase of Litecoin by retail customers,” he said.
Introduced in 2017 by Charlie Lee through an open-source client on #GitHub, Litecoin is also seen as “digital silver.” Litecoin, currently the 13th largest cryptocurrency, has a market cap of approximately $9.5 billion.
Founded in 2011 and one of the oldest crypto companies, BitPay currently accepts 11 cryptocurrencies, including stablecoins, in addition to Litecoin. These; #BTC, #BCH, ETH, #XRP, #DOGE, #WBTC as well as stablecoins #USDC, GUSD, #PAX, #BUSD and #DAI.