Litecoin (LTC) is consistently emerging as the most popular crypto for payment purposes and accounts for over 25% of the payment gateway, BitPay’s transactions. LTC gained popularity as a ‘go-to coin’ for making purchases at electronics, video games, gold and jewelry, and other e-commerce sites.
Crypto Fast Fact: Litecoin payments are on the rise 📈 LTC is consistently used for payments, representing over 25% of BitPay transactions. Read more: https://t.co/3j03QrH0lj @LTCFoundation #bitpay #litecoin #crypto #payments
— BitPay (@BitPay) December 13, 2022
David Schwartz, Project Director at Litecoin Foundation stated:
Getting added to BitPay in mid-2021 was a great milestone for Litecoin and the ‘Pay With Litecoin’ movement. Now, after 15 full months on BitPay, its consistent growth in usage also validates Litecoin’s undeniable status as a preferred global payment method.
In a year, the monthly Litecoin payments have increased by 109%. Bitcoin, on the other hand, remains the top crypto payment alternative with 41.62%. Litecoin payments are mostly seen in North America but are growing significantly across the world in EMEA, Asia Pacific, and Latin America regions.
Litecoin payments are mostly seen in North America but are growing significantly across the world in EMEA, Asia Pacific, and Latin America regions. One of the reasons Litecoin has gained prominence as a ‘go-to coin for making purchases’ is that the average fee on a Litecoin payment is less than $0.01 which is comparatively lower than Bitcoin’s $0.30.
Moreover, Litecoin is also a faster alternative to Bitcoin. The current trading price of Litecoin is $78.54. Moreover, Analytics firm, Santiment recently revealed that mega whales’ had accumulated 2.95 million LTC worth $219.6 million in just the past five weeks and this can further cause a 70% spike in LTC price soon.
