Newegg to Become First Major E-Retailer to Accept Litecoin on BitPay
Newegg Commerce, Inc. (NASDAQ: NEGG), a leading tech-focused e-retailer in North America with a global customer base, announces that it is expected to become the first merchant to accept Litecoin (LTC) cryptocurrency as a payment method on the BitPay platform starting this week. Customers shopping on Newegg.com will have the option of paying with Litecoin using the BitPay Wallet app.
“We're thrilled to accept Litecoin, as we believe that convenient payment options improve the overall shopping experience for all our customers.”
“Newegg has always been able to quickly implement new technologies to offer its customers innovative new ways to pay for products and services purchased through its platform. We are pleased to be the Company’s chosen partner in integrating the Litecoin payment option into its platform,” said Stephen Pair, CEO at BitPay. “As the enthusiasm and excitement around the use of cryptocurrency continue to grow, Newegg demonstrates once again that it’s committed to making it easy for customers to shop their way with a growing array of payment options that also cater to crypto fans.”
Litecoin was launched in 2011 by Charlie Lee, a former Google engineer who created the cryptocurrency as a "lite” version of Bitcoin. While similar in technical nature to Bitcoin, Litecoin offers faster transaction confirmation times – 2.5 minutes on average compared to Bitcoin’s 10 minutes.
Newegg’s longstanding partnership with BitPay dates back to 2014 when both organizations collaborated to enable Bitcoin transactions on Newegg.com – an industry-first at the time that pre-dated Bitcoin’s rise to mainstream prominence in 2017. Subsequently, Newegg was among the first to accept Dogecoin in early-2021, cementing the company’s place as a preferred destination for customers willing to pay with cryptocurrency. Today, Newegg builds on its reputation as an e-commerce innovator as it becomes the first major online retailer to accept Litecoin through BitPay.
“Delivering a better online shopping experience isn’t only about price and selection – it’s also important to let people shop however they want, and that extends to offering flexible payment options,” said Andrew Choi, Sr. Brand Manager of Newegg. “We're thrilled to accept Litecoin, as we believe that convenient payment options improve the overall shopping experience for all our customers."
When completing an order on Newegg.com, customers who want to pay with Litecoin simply click “Edit” in the payment section on the checkout page, then select BitPay. Customers can then complete their transactions using Litecoin held in their digital wallet.
From: businesswire
