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Top 5 businesses that accept Litecoin payments

litecoin segwit

Top 5 businesses that accept Litecoin payments

litecoin accepted

(CoinReport) Litecoin
is the second most valued digital currency on the market, only being
bested by bitcoin. However, litecoin is not just a knock-off to the
world’s first digital coin. It was intended by its developers to improve
on the structure set forth by bitcoin.
The main two differences that separates litecoin from bitcoin:
1) Litecoin processes a block every two and a half minutes, while bitcoin processes a block every 10 minutes.
2) Litecoin will total 84 million coins, unlike bitcoin’s cap of 21 million.
The
digital currency continues to catch individuals and business owners by
storm, as more businesses are accepting it as a form of payment.
CoinReport has compiled a list of the Top 5 businesses that have begun implementing Litecoin into their finances.

Top 5 Businesses that Welcome Litecoin Payments

elle ellenet accepting bitcoin

5. Ellenet

IT solutions provider, Ellenet,
is the first Australian firm to accept both bitcoin and litecoin. The
service specializes in film and multimedia production. The decision to
welcome litecoin payments was made by the Australian company’s director,
Estelle Asmodelle. She said:

“Crypto currencies
are the future, it’s plainly obvious and people need to understand that
Bitcoin and other coins are not going away. Without sounding terse, you
can’t stop progress.”

The consultant firm was
established in 1998, and now with its adoption of bitcoin and litecoin
digital payments, it hopes to grow even larger.
In
addition, Ellenet works with digital mining company Petabit Pty. Ltd,
who works on mining both litecoins and bitcoins. The partnership with
Petabit will allow Ellenet to get into more digital currency-based
ventures.

4. Sean’s Outpost

Sean's Outpost, Marathon, Bitcoin 
Though not technically a business, Sean’s Outpost,
a homeless outreach center, makes this list for its commitment to allow
digital currencies like litecoin to help the local community. The
Pensacola, Florida-based center has provided thousands of meals for the
poverty stricken.
With the help of bitcoin and litecoin donations, Sean’s Outpost is able to provide sanctuary and do right by people.
However,
the center, which was established by Jason King in honor of his friend,
is currently struggling as a massive flood has decommissioned
day-to-day operations. The center is hoping to get more digital coin
donations to assist the people living in the Satoshi forest.
King
and his team remain positive and patient and hope that the digital coin
community will help them get through this difficult time.

Litecoin Payments 

3. eGifter

New York-based eGifter has teamed with payment processor GoCoin
to welcome bitcoin and litecoin transactions. The gift giving site
allows users to buy and send gift cards to each other, while earning
points in the process.
The move to take in digital currency payments was made wisely, as retailers like Overstock.com
had announced a boom in business after accepting bitcoins. With digital
currencies, businesses can tend to new and interested customer bases.
eGifter’s
CEO, Tyler Roye says that with digital coins and GoCoin, the site can
remain secure and fraud-free. Rather than holding onto coins, the
company uses GoCoin to convert digital earnings into cash.
eGifter
started welcoming bitcoin in 2013, and also began welcoming litecoin
and dogecoin in April 2014; adding to the list of payment methods the
company accepts.

2. KnCMiner

Titan Scrypt Miner 
KnCMiner is a company that sells mining hardware and equipment,
allowing coin enthusiasts an opportunity to earn litecoins and
bitcoins. What’s fitting about the mining company’s involvement with
digital coins is that mining hardware can be purchased with those same
coins. Their website stated:

“You will find the Litecoin payment method option when you complete an order through the checkout on our website.”

Additionally,
KnCMiner is creating one of the first effective mining hardware,
exclusively, for mining litecoins. The demand for digital currencies and
miners has been high that KnCMiner sold $2 million with of pre-ordered
hardware within just a 4 hour window.

1. Benz and Beamer

Litecoin Payments 
A Tesla Model P85 was sold out at Benz and Beamer
auto dealership which was bought completely in litecoins early this
year. A customer used 5,447 litecoins to complete the transaction for
the luxury car, worth around $90,000 during the time of the purchase.
The transaction went through with payment processor GoCoin. The car dealer, Naresh Shah explained:

“GoCoin
makes it extremely easy for us to accommodate new customers looking to
pay with bitcoin and other emerging digital currencies like litecoin.
Their platform secures the coin exchange for cash within minutes,
creating a real win/win for my dealership and my customers.”

The purchase is by far the largest amount of litecoins
used in a single purchase recorded. As litecoins continue to grow in
popularity, more businesses will start to implement them more into their
own structures.
There may very well be more purchases that use litecoins the same way as they were at Benz and Beamer.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

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