Home Uncategorized Collaborations Allow LTC Payments at Large Retailers

Collaborations Allow LTC Payments at Large Retailers

Newegg announced on Twitter that Litecoin payments are now available on their e-commerce site.

New Partnerships to Allow Litecoin Users to Checkout at Large Retailer iBase Trading.
iBase Trading Crypto News

Newegg announced on Twitter that Litecoin payments are now available on their e-commerce site. BitPay has announced that it now accepts Litecoin payments, which coincides with the integration. On July 29th, the payments provider announced support for LTC in its app, BitPay Wallet, in a press release. Newegg will also be the first retailer to accept Litecoin via BitPay, according to the press release. In keeping with the merchant’s reputation for being the first to accept bitcoin payments in 2014,

Newegg is a major retailer of computer gear and consumer electronics. Over 32 million people utilize the e-commerce platform. Now, millions of consumers may use LTC to check out their Newegg purchases.

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“Newegg supports our early-adopter consumers internationally and underscores our dedication to bringing innovation to the online shopping experience as the first major online shopping destination to cooperate with BitPay to take Bitcoin and now Litecoin. The buzz around bitcoin is palpable, and we’re dedicated to making it as simple as possible for our customers to purchase online.” — Andrew Choi, Newegg’s Senior Brand Manager

Newegg and BitPay

Newegg and BitPay have long-standing cooperation. The two originally collaborated in 2014 to set up bitcoin payments for Newegg customers in the United States. Users in Canada were later permitted to check out with bitcoin.

The partnership’s initial success has fueled its continuous collaboration. Litecoin is the newest addition, with Newegg citing rapid transactions and cheap costs as key factors in its adoption. These capabilities make it a perfect complement for an e-commerce firm of Newegg’s scale.

“Litecoin’s lightning-fast transaction speeds and ultra-low costs are perfect for an e-commerce behemoth like Newegg,” said Charlie Lee, the cryptocurrency’s founder. “We’re ecstatic that BitPay now supports Litecoin, making it incredibly simple for any retailer to take LTC.”

Indeed, Litecoin users all throughout the globe continue to benefit from low transaction costs. For transactions transmitted everywhere, the peer-to-peer internet current allows immediate and near-zero cost payments. Faster transaction confirmation times are another important aspect that makes Litecoin a perfect payment mechanism for e-commerce behemoths like Newegg.

Litecoin Price Reaction

Since the news broke, there has been no substantial movement in the price of Litecoin. Following the current plunge, the coin is still on a downward trajectory. However, it has made a minor comeback.

Millions of customers will be exposed to Litecoin as a result of Newegg’s announcement. A new approach for people who had not considered using bitcoins to pay for their purchases. As more people view bitcoin as a method to pay for products online, this might lead to further adoption.

LTC has lost 2.76 percent of its value in the last 24 hours. At the time of writing, the stock was trading at $137.54.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

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Angela Lopez stepped into the Cryptocurrency world after her Journalism career and hasn't looked back since, writing about anything crypto-related. She started working with iBasetrading in October 2011.