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How to accept Bitcoin payments: A 2021 guide for small businesses Article

Publicado: 28 de enero, 2022

Additionally, there is G2A Loot, a place where people can buy cases with crypto and open them to get various rewards. Thus, G2A is the ultimate sport for gamers using cryptocurrencies. Google Pay offers a payment tool for businesses, websites, and apps that can be set up in minutes and start accepting payments right away.

By accepting Litecoin payments on your site, you can serve the needs of your current and future customers. Ultimately, it will differentiate your business presence from your competitors. Mothership Pro Scooters manufactures scooters that customers can use right out the store’s door. The company builds the best freestyle scooters piece by piece and helps clients to customize them. The store has the best selection of complete scooters for sale in the entire NorthWest.

how to accept litecoin payments

Recently, the company made the announcement that it’d begin accepting cryptocurrencies such as Litecoin and Ethereum in the summer of 2021. For now, the decision only involves its stores, but Sheetz representatives have stated that paying with crypto at its gas stations will be made possible later throughout the year. Sheetz does not accept cryptocurrencies directly; instead, it has partnered with Flexa, a digital payments processor. Sheetz has a major network of convenience stores, and currently, you can pay with Litecoin at more than 600 locations.

A quick idea about Litecoin:

Over the last decade, we have radically changed the way we get value over the internet from conventional payments to digital currencies. These halvings are a big deal for any Proof-of-Work cryptocurrency. Cutting the mining reward in half increases the amount of cryptographic computing required to earn the next handful of coins. The idea is to establish a rock-solid system of steady but limited inflation. Each halving should be followed by the cryptocurrency’s price doubling, or the miners would lose their incentive to keep the machines running. To accept payments from these devices, ask the customer to hold the paying device near the tap area of your iPhone until done.

  • The company has an excellent reputation, and it has 4.7 out of 5 stars on the customer review platform Trustpilot.
  • Today this cryptocurrency ranks sixth in market capitalization.
  • In Litecoin, people can do transactions regardless of the disclosure of their personal information.
  • Check out this article to learn which brick-and-mortar stores feature Litecoin payments and find out how you can deploy your own LTC payment gateway.
  • In Litecoin’s case, coin prices fell in the months before each halving and surged a few months after.

Having been established in 2016, the platform has grown into a major betting and gambling platform. The company also accepts Litecoin and lets users deposit their coins. 1xBit is truly how to accept cryptocurrency a universal platform because it features five thousand games and up to one thousand sporting events. Users also receive up to 7 BTC in bonuses for creating their first 1xBit account.

Accept Litecoin on your website and online shop

Connect to Plisio and start accepting Litecoin in your store, ICO or other platform today. Over the last decade, the way we can receive value over the internet has dramatically shifted from traditional payments to programmable money. Cryptocurrencies like Litecoin have emerged and can be embedded into online shops or e-commerce sites to receive customer payments. The safety of its users’ funds is a top priority for STICPAY. Businesses can easily track each customer’s transactions via the payment gateway’s reporting feature.

This has created a requirement for a payment processing solution with the ability to cater for individuals and businesses wanting to accept Litecoin payments. This is known as a Litecoin payment gateway, which is a decentralised payment platform enabling merchants to accept transactions in Litecoin. A merchant service fee is a monthly fee charged by some banks or payment processors in exchange for allowing businesses to accept credit card payments. Merchant service fees can range from $10-25 per month, depending on the bank or processor.

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With a global presence in over 190 countries and a strong foothold in Asia, STICPAY offers its customers a cost-efficient, convenient, and secure way to handle their everyday finances. Instead, Litecoin is often seen as the “silver to Bitcoin’s gold,” with LTC often serving as a testing ground for the latter cryptocurrency project in network development and upgrades. Interestingly, while the two cryptocurrencies closely resemble each other, neither digital asset project views the other as a competitor.

How to accept Litecoin (LTC) payments with Ruby

This is similar to not letting your friends or family know what your credit card purchase history is. For small businesses, getting cash on hand is sometimes difficult. Acceptance of Litecoin payments will put cash within your grasp faster than when accepting payments via cards. Litecoin users stay anonymous and are not required to share their personal info to use the blockchain. In other words, there are no KYC or other authorization procedures. Businesses that use Litecoin, thus can offer it as a private payment method.

how to accept litecoin payments

To start accepting Litecoin, as well as Ethereum, Bitcoin and other cryptocurrencies, first sign up. Then create API credentials if you are going to use our e-commerce plug-ins or APIs. The API request returns a list of cryptocurrency payment methods and deposit addresses, including Litecoin. These can be displayed back to a customer to complete payment. A Litecoin payment gateway allows merchants to accept LTC payments from their customers. With a $5.8 billion market capitalization, Litecoin is among the most popular cryptocurrencies, which offers fast and cheap payments for both businesses and consumers.

Find a Bitcoin payment processor

Both cryptocurrencies are based on the blockchain and feature decentralized peer-to-peer networks. For that reason, users can send, receive, store, and pay with digital assets without a central authority that can censor or limit access to the platform. When a customer chooses a Litecoin as a payment method at your checkout page, he will get automatically redirected to the digital wallet. Unfortunately, crypto payments inside merchants’ websites are not available today.

how to accept litecoin payments

The company is also extremely crypto-friendly since it accepts different cryptocurrencies. Litecoin is one of the payment options at Exotique Entertainment. Initially, Litecoin was intended as a faster alternative to Bitcoin. As a result, Litecoin is able to process transactions at a much faster rate than its predecessor.

Litecoin is an ideal option for payments due to its fast transactions and low transfer fees. PayPax will give you this plus a thousand other useful features for your business including a variety of payment methods. Learn how to easily accept LTC on your business with PayPax. As a result, there are many online casinos that offer lucrative benefits to users who prefer playing with crypto. 1xBit is one of the most prominent gambling platforms in the crypto world because of its history.

Accept Litecoin (LTC) payments on your website

The last Litecoin block will be mined somewhere around the year 2142, with the final Litecoin supply reaching 84 million coins. Here’s how Litecoin pulled off its recent rejuvenation while the crypto market as a whole continued to struggle. This performance also holds some clues about where Litecoin might go in 2023. To accept a contactless card, present your iPhone to the customer and ask the customer to hold their card horizontally on the tap area for a few seconds until done. Transaction fee is subtracted from the total amount paid on each invoice.

As the first step, businesses have to open a merchant account at STICPAY. After filling out the form with their details and submitting the mandatory KYC and AML documents, STICPAY’s customer success team will verify the merchant’s request. Monitoring over five global exchanges, STICPAY features an integrated fiat-to-crypto and crypto-to-crypto currency converter with excellent market exchange rates. To limit the merchant’s risks, the payment gateway specifies the timeframe in which the user has to complete the transfer. As the next step, customers either scan the QR code via their smartphones or use the wallet address to send the specified amount of LTC to the business. First, block generation in the Litecoin network occurs every 2.5 minutes compared to Bitcoin’s 10-minute interval.

how to accept litecoin payments

Unfortunately, there’s no genuinely “free” way to accept credit card payments online. Just like any other business, payment processors need to cover their costs and turn a profit. We want to support all online businesses and organizations to accept crypto payments. We provide 0% fees on all operations not exceeding $10,000 in total in the first three months.

Coinremitter’s security features may leave you amazed

One of the largest companies in the world enabling businesses to accept cryptocurrencies as payment is Atlanta-based BitPay. The company offers various tools to make accepting crypto payments simple, including hosted checkout, payment buttons, invoicing and Quickbooks and Shopify integrations. Payments can be made by customers online, by email and in person. Another neat feature offered from BitPay is that it protects businesses from crypto price fluctuations. The company only charges a 1% transaction fee on almost all transactions and allows clients to settle up in local currency cryptocurrency. One of the longest-running services for cryptocurrency payments is CoinPayments, which has been helping businesses worldwide since 2013.

Because of this high liquidity, it’s also one of the most accepted cryptocurrencies worldwide. This widespread global adoption has permitted the growth of its surrounding infrastructure, such as many digital wallet’s and storages to choose from. Litecoin is a peer-to-peer cryptocurrency that was released in October 2011, making it one of the longest-withstanding cryptocurrencies. The years following its launch, LTC became a popular alternative to Bitcoin due to its cheaper fees and faster block times. While some may say that Litecoin is Bitcoin’s near-identical twin, there are a few differentiating factors between the two. Coinremitter is a merchant friendly crypto payment gateway that offers quality services globally to traders, large/small organizations, and those who love crypto.

So… how to install PoS for your store?

As of 2021, Bitcoin is the largest cryptocurrency by market cap, with millions of investors and counting. In order to understand how cryptocurrency works, it’s helpful to know a little about blockchain. Namely, that blockchain is a type of database that can record and distribute digital information while preventing it from being edited. This tamper-proof design is what makes cryptocurrency so secure.

Who accepts LTC in offline stores now?

Another significant change was Litecoin’s use of the Scrypt algorithm for mining rather than Bitcoin’s Sha-256. This gave Litecoin the ability to grow its own mining ecosystem without having to compete with Bitcoin miners, reducing the risk of a 51% attack. Due to Litecoin dominating its mining algorithm, the network security has remained strong, contributing to its strong persistence throughout the past decade. Now, what the API does is that it connects to the checkout system of the company to a payment receiving system. Litecoin is one of the most popular modes of payment that widely used by every merchant after Bitcoin. Litecoin is a coin which is accepted by a great number of brick-and-mortar stores.

Believe it or not, these strategies will impact what kind of technology you want to employ for receiving and managing cryptocurrency. To keep all payments received in a cryptocurrency (i.e. receive payments in litecoins) on Plisio, verification is not required. In its simplest form, all that is needed to receive Litecoin payments in NodeJS is to display a Litecoin address to the customer.