Compiling a list of companies and websites that accept Litecoin is a more difficult task than doing the same for bitcoin, just check out our list of 25 big companies that accept Bitcoin, Ethereum and other cryptocurrencies to see that most businesses that deal with cryptocurrencies have only adopted Bitcoin. The reason for this discrepancy is that Litecoin is less popular than Bitcoin. However, the high volatility and high price that Bitcoin has been valued at lately, could help spread the adoption of Litecoin, especially if we consider that in theory both cryptocurrencies are very similar.
Litecoin was indeed introduced as a “cheaper” alternative to Bitcoin. It was launched in 2011 by Charlie Lee, a former Google employee, who targeted the microtransaction space, as compared to Bitcoin, which could be used for more expensive purchases. Six years later, Litecoin is the fifth largest cryptocurrency with a total capitalization of $17.24 billion and a price of $317.21 per token.
From the start, Litecoin was aimed at being cheaper than Bitcoin, even though technically both cryptocurrencies are similar. The main differences are that Litecoin is capped at 84 million units, versus 21 million for Bitcoin. The Litecoin network aims to process a block every 2.5 minutes, which is four times faster than Bitcoin. This allows faster transaction confirmations. Litecoin uses Scrypt for proof-of-network, compared to Bitcoin’s SHA-256. For more differences and similarities between Bitcoin and Litecoin, take a look at our comparison of Litecoin vs Ethereum vs Bitcoin.
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While Bitcoin, Litecoin, and other cryptocurrencies have been around since 2009, they have been gaining traction only in the last couple of years, as their popularity increased, which led to higher demand and higher value. Litecoin and other cryptocurrencies provide businesses with many advantages compared to traditional, or fiat, currencies. Transactions in cryptocurrencies are private, so the seller doesn’t collect any data about the buyer, so his privacy is safe. Transfers are carried out directly between the buyer and seller and are verified once by the network, which results in much faster transactions compared to fiat money, which have to pass through several institutions. Moreover, cryptocurrency transactions are carried out exclusively in the online space, but compared to traditional services like PayPal, they don’t perceive a fee, which results in lower costs over the long run. Cryptocurrencies also allow businesses to conduct international operations faster and cheaper, as cross-border transactions can rack up substantial fees.
In this way, Litecoin, Bitcoin and other cryptocurrencies provide businesses with many advantages and their popularity suggests that they are here to stay. In this way, businesses should jump on the bandwagon and adopt cryptocurrency payments before their competitors in order to gain customer loyalty and not risk being left behind.
In the meantime, let’s take a look at 10 companies and websites that accept Litecoin.
10. Sean’s Outpost
Sean’s Outpost is technically neither a company nor a website, but a charitable organization. It provides meals and shelter to homeless people in Pensacola, Florida and it started accepting donations in Bitcoin or Litecoin since inception. Cryptocurrency enthusiasts rallied on several occasions to support Sean’s Outpost, raising 733 Bitcoin in 2013, the first year of its operation and a year later the organization appealed to the Litecoin community after its homeless sanctuary was flooded and managed to raise over 300 Litecoin.
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9. Ellenet
In 2014, Ellenet became the first Australian company to start accepting payments in cryptocurrencies. Ellenet is an IT solutions provider and it teamed up with Petabit, a company specialized in mining Bitcoin and Litecoin, to launch a dedicated online platform that accepts Bitcoin and Litecoin.
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8. Cryptopet.com
Next in the list of companies and websites that accept Litecoin is cryptopet.com, the first online pet apparel and accessories store that accepts cryptocurrencies. In addition to Litecoin, cryptopet.com also accepts payments in Bitcoin, Dash, and, funnily enough, Dogecoin, a cryptocurrency that was started as a joke and which features a Shiba Inu dog from the “Doge” meme as its logo. Despite its origin, Dogecoin reached a capitalization of $685.29 million.
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7. Allthingsluxury.biz
Allthingsluxury.biz is a Canadian website that sells jewelry at liquidated and wholesale prices. The company started accepting Bitcoin in November 2012 and even launched an event to celebrate, offering a 20% discount on most items. A year later, allthingsluxury.biz also introduced Litecoin as a form of payment.
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6. Cheapair.com
On the sixth spot among companies and websites that accept Litecoin is cheapair.com. The website offers flights, hotel bookings, and car rentals and accepts several forms of payment including Bitcoin, Litecoin, and Dogecoin tokens. In 2013 Cheapair.com became the first online travel agency to accept Bitcoin, with the other two cryptocurrencies being introduced a year later.
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5. Btctrip
In 2013, Btctrip was launched as an online travel agency for the cryptocurrency community and at first accepted only Bitcoin through a partnership with BitPay. However, in 2014, the company expanded and also started accepting Litecoin and Dogecoin. To facilitate payments with the two altcoins, Btctrip integrated processing services provided by GoCoin.
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4. Re/Max
Next in line in the list of companies and websites that accept Litecoin is Re/Max. Re/Max is a London-based real estate agency, which allows people to buy and rent real estate and pay for it using Bitcoin, Litecoin, and Dogecoin. The company adopted cryptocurrencies in 2015 through a partnership with payment processor GoCoin.
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3. eGifter
eGifter is also among companies and websites that accept Litecoin. The online platform offers branded gift cards to many popular retailers such as Amazon, eBay, Dick’s Sporting Goods, Best Buy, etc. eGifter accepts Bitcoin, Litecoin, and Dogecoin payments, although not for all gift cards. Nevertheless, it represents a good workaround that allows using cryptocurrencies to shop on many popular websites, if you think that simply converting cryptocurrencies into fiat money is too much of a hassle.
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2. Overstock.com Inc (NASDAQ:OSTK)
Overstock.com is one of the largest eCommerce companies that accept Litecoin as a payment. It was the first major retailer to adopt Bitcoin and its stock saw a significant rally on the back of the cryptocurrency surge. Overstock.com Inc (NASDAQ:OSTK) is fully committed to cryptocurrencies and in addition to providing support for most major cryptocurrencies it is also engaged in developing its own cryptocurrency and plans to launch an exchange platform.
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1. Uber
In August, the popular ride-sharing service Uber hired a new CEO, Dara Khosrowshahi, who during his tenure at Expedia, Inc., introduced Bitcoin payments for hotel reservations at the company’s websites. Uber accepts payments in Bitcoin and other cryptocurrencies through third-party vendors, but does not accept direct payments in Bitcoin. However, earlier this year, there have been rumors that the company is testing direct payments with Litecoin. If its true and Uber does become the first company to accept only Litecoin, it will be a massive win for the cryptocurrency.
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These are 10 companies and websites that accept Litecoin. The Litecoin community is growing and so does the number of merchants and companies that adopt it. While the number of companies and websites that accept Litecoin is smaller than Bitcoin, with the latter’s surge in price and popularity, it’s highly likely that the websites that accept Bitcoin will expand their cryptocurrency features and adopt Litecoin, Ethereum, and other cryptocurrencies.
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