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Litecoin Sees Increased Adoption by Businesses

Reading Time: 2 minutes by on June 18, 2018 Altcoins, Bitcoin, Business, Finance, News, Tech
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Litecoin (LTC) is seeing an “incredible amount of interest” from global businesses looking forward to integrating and supporting it, the Litecoin Foundation announced in their Twitter post.

At the same time, it reminded its users to ask the companies they do their business with to ask the businesses to let them use litecoin if they want to see more of “Litecoin Accepted Here” signs.

Litecoin a High Flyer

(Source: PayWithLitecoin)

The announcement comes at the time when litecoin is already seeing increased support by the companies looking to offer their goods and services in exchange for this cryptocurrency.  On May 30, flight aggregator and private jet booking platform TapJet announced its support for payments made in litecoin.

With TapJet’s customer base of 16,000 clients across the world, this move will prove to put wind in litecoin’s sails. This digital currency will be used for booking chartered planes in less than a minute, with the company looking for a digital currency which can support its lightning-fast way of doing business.  

The company’s CEO Eugene Kesselman expressed his support for litecoin as a later integral part of TapJet’s platform. Litecoin project’s founder, Charlie Lee, responded by saying that litecoin is the “perfect cryptocurrency for payments” due to its liquidity, ease of integration, and speed while thanking the Litecoin community that “helped make this partnership happen.”

Growing Demand for Crypto Payments

In a similar move which took place within the same time frame, another flight provider, SurfAir also announced its support litecoin, as revealed by Charlie Lee on May 31.  Lee restated the Foundation’s goal of having every merchant and business accept litecoin, no matter how exclusive they are.

Just a few days before this announcement CheapAir online travel agency announced added support for cryptocurrencies including litecoin on May 22. In addition to it, this company now accepts bitcoin cash (BCH), dash (DASH), and litecoin (LTC) payments for the services it provides to digital currency enthusiasts. These include both flight and hotel bookings.

CheapAir is among the most influential business supporters of cryptocurrency adoption, with its advocating their increased use for several years now.  

In 2013, CheapAir became the first travel agency to accept bitcoin (BTC) as a payment option for booking hotel rooms and Amtrak train seats.

CheapAir‘s support for cryptocurrencies payments has cemented its reputation as a staunch promoter of cryptocurrency payment options. This has hardly come out of the blue, as the addition of new cryptocurrencies was triggered by growing customer demand for provided support for this type of payment.

Wider Adoption Still On Hold

This area is not without its difficulties, as it represents one of the most important proving grounds for cryptocurrencies in their competition with their fiat counterparts. At the moment, the number of merchants which accept such payments still needs to see growth as these companies are hardly representative of what is desired regarding market share in the sectors they are active.

Still, once the volatility and fluctuations of cryptocurrencies become less pronounced, one can quickly expect to see their faster adoption across various businesses.

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