Accept Litecoin as a business: How to get paid in LTC on your website?

Litecoin was initially built with focus on transaction speed and costs. Businesses with the aim to accept cryptocurrency will usually choose Bitcoin to bring to their websites. However, there are always better and more cost-effective options you need to take into consideration before going on with the stream to choose what everyone else does. Litecoin is one of the best alternatives to Bitcoin due to its fast transaction block times and cheaper fees. 

Why do I need to accept Litecoin?

Perhaps you have been wondering why you should accept Litecoin payments on your business. Here are a hefty number of reasons why LTC payments could be beneficial for you and your business: 

• The first reason why Litecoin payments are advantageous for your business is the speed of Litecoin transactions which are four times faster than Bitcoin’s, increasing the block space and increased availability.
• Litecoin network is a highly reliable one among all other cryptocurrencies, being around for nearly 10 years with thousands of users worldwide and almost no downtimes. 
• As mentioned before, the block space of Litecoin is widely available, being overall less crowded and thus having cheaper transaction fees. 
• Another advantage of Litecoin is that it is one of the most liquid cryptocurrencies being available on most existing crypto exchanges worldwide. Bitcoin is considered one of the most accepted cryptocurrencies all around the world. 

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How to accept LTC payments as a business?

Accepting LTC as a business is actually easier than you think. However, if you want to do it all on your own, there are problems that you might find hard to solve. If you want your customers to pay you in LTC, one way is to give them your wallet address and ask them to directly send you the required amount. This is however not to your benefit, since they might get confused not knowing what the best way for sending you money is or being unable to find a reliable service for doing so.

A better and more convenient way for both you and your customers is to resort to the help of a payment provider to offer you an instant API which can easily be installed on your website and the outcome will be an easy-to-use online payment gateway. 

An online payment gateway is a decentralized payment platform which allows content creators to accept LTC payments, and clients to pay using Litecoin directly without having to deal with it on their own.

Accept Litecoin on your website and online shop

As already mentioned before, in order to accept LTC on your website and online shop, you’ll need the help of a payment provider. This will not only facilitate the way for your customers to pay you in LTC, but also helps them find and buy Litecoin at its best price. 

An all-in-one payment provider will not only provide you the means to easily accept Litecoin on your business, but also give your customers the opportunity to exchange their assets or hold them in their secure internal wallet. 

For instance, users can buy Litecoin with PayPal and then use it to pay for their goods and services online. What’s more is, PayPax instant and easy yo use API, can easily be applied on your website and does not need much expertise in programming. 

Is it safe to accept LTC?

LTC transactions are publicly verifiable, transparent, and peer-to-peer, meaning they are entirely safe. However, since cryptocurrencies are not backed or supported by any regulatory or higher force, it is always necessary to keep your eyes wide open, due to cybersecurity and phishing attacks. 

Nonetheless, choosing a payment provider will lower the cybersecurity risks and issues. PayPax will prioritize your security and won’t share any of your data without your prior permission.  

Needless to mention that, as a business it is also your responsibility to take care of your funds and the security of your customers by keeping your data private. 

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What you need to accept Litecoin

In order to accept LTC as a business, you’ll need to create an official Litecoin wallet. Each cryptocurrency wallet comes with a digital address that other users can use to send you money in LTC, but you should be aware that this address cannot be brought to your website directly and will cause a lot of problems for customers who are technophobic or unfamiliar with using digital and e-commerce platforms.

However, working with a payment provider is a simpler and more efficient solution. As already mentioned, PayPax can help you facilitate the process by giving you everything you need in order to accept Litecoin. Additionally, PayPax does away with the need to set up an official LTC wallet and all the hassles involved.

Additionally, in case of any occurring issues, PayPax customer support is available 24/7 to help you resolve the issue and have a seamless experience of working with the system and enjoy accepting Litecoin on your business or online shop.