LTC Tops Crypto Choice for Online Shoppers, Cementing Its Position as a Mainstream Payment Method

March 2, 2023

MCP News Free

LTC Tops Crypto Choice for Online Shoppers, Cementing Its Position as a Mainstream Payment Method

Litecoin has been ranked among the most popular cryptocurrencies among online shoppers in 2022, new data by CoinGate reveals.

It is not new that cryptocurrencies’ involvement in online shopping is on the rise, with many companies increasingly adopting crypto as payments for their goods and services.

However, to get a clue of those crypto that are mostly used in e-commerce, a crypto payment processor CoinGate, has done research on the use of crypto in e-commerce, the study which was published on Wednesday, March 1 saw Litecoin (LTC) emerging as the fourth most used cryptocurrency in online shopping in 2022.

According to the research, LTC is involved in more than 88k orders, and 9.5% of the orders were handled by CoinGate last year, LTC is ranked behind Bitcoin, which top the list, followed by Tether’s USDT, and Ethereum, the second largest cryptocurrency by market cap, only second to Binance.

Compared to 2021, LTC involvement in online crypto payment rose by over 6%, additionally, LTC is the most used cryptocurrency for online shopping in January 2022.

Litecoin is one of the largest cryptocurrencies in the crypto space by market cap, with a market cap of over $296 billion, according CoinMarketCap. LTC involvement in e-commerce has been on the rise since June last year, its increased involvement in e-commerce may be attributed to the speed of the network and the meager transaction fee.

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