Litecoin has always focused on delivering excellent infrastructure for fast payments with near-zero costs. The Litecoin Foundation has achieved incredible results in its mission, and nowadays, thousands of people use the LTC crypto for conducting day-to-day transactions. The list of companies that have integrated Litecoin payment gateways is growing every year. NOWPayments assists businesses with setting up LTC payment subscriptions.
- Litecoin is an efficient blockchain.
- LTC has low transaction costs.
- NOWPayments’ subscription tool lets merchants receive recurrent LTC payments.
What is LTC crypto?
Litecoin is a peer-to-peer digital currency enabling users to make payments to anyone in the world. Litecoin is an open-source project that brings together dozens of developers. Mathematics secures the network and empowers individuals to control their own finances. The Litecoin blockchain is capable of handling higher transaction volume than its counterpart — Bitcoin.
Pros and cons of Litecoin payments
LTC crypto is a universal means of payment that can be adopted by all kinds of businesses. Merchants can accept Litecoin payments online and offline using special solutions such as Point-of-Sale terminals. Companies that accept Litecoin as payment do it because they see the potential of cryptocurrencies such as LTC.
Litecoin is known for its faster transaction confirmation times. Compared to Bitcoin, Litecoin is several times faster, which means that users can transfer LTC quickly and without any substantial delays. Businesses can greatly benefit from offering fast payments by making the customer experience more pleasant and avoiding waiting for payments to arrive for hours.
Low gas fees
Litecoin also has extremely low transaction fees. This is why LTC is a go-to option for people who prefer to utilize cryptocurrency on a regular basis.
Businesses that feature a Litecoin payment gateway do it to reduce the fees paid by their clients. Moreover, lower fees can enable businesses to cut down their prices and thus achieve a competitive advantage over other companies.
Finally, Litecoin has a large and supportive community consisting of millions of people. This opens unlimited opportunities for businesses that want to attract new customers. Basically, a company can instantly turn millions of LTC owners into their prospective clients by simply offering a Litecoin payment method.
Some countries have strict regulations concerning cryptocurrencies. For instance, some nations ban the use of crypto payments. So, if you consider using LTC as a payment solution, you need to carefully study the laws of your country first. If everything is fine, though, you can easily deploy your Litecoin payment gateway with NOWPayments.
When using cryptocurrencies, one should understand that the price of their assets is not going to be stable. Due to decentralization, the value of LTC is defined purely by the market forces. Yet, if you wish to avoid volatility, you can use NOWPayments’ auto-conversion feature that will convert your LTC payments to fiat.
How do I accept Litecoin as payment for subscription?
NOWPayments’ Litecoin subscription solution is a tool designed for businesses that want to receive recurrent payments. Basically, by using it, you will be able to get regular LTC payments at a predetermined frequency. Follow these steps to set up LTC subscriptions:
- Step 1. Create your account on NOWPayments.
- Step 2. Provide your Litecoin crypto address to which you would like to receive payments.
- Step 3. Generate an API key.
- Step 4. Go to the “Invoices” section and click the “Create Invoice” button.
- Step 5. Fill in the required fields (the currency, the order ID, and the price in USD).
- Step 6. Next, go to the “Subscriptions” section and enter the invoice ID as well as the frequency with which your subscribers will be sent a reminder.
- Step 7. Click “Create the subscription group.”
- Step 8. Click “Edit” in the appeared subscription field and add your subscriber’s email address (you may add as many as you wish).
- Step 9. Wait for your subscriber to confirm the subscription.
Litecoin is one of the biggest coins on the market. NOWPayments enables businesses to launch subscriptions and get paid in LTC.
Fancy learning more about Litecoin?
- Top 5 charities & how they can benefit from Litecoin
- Litecoin on eCommerce plugins
- How to accept Litecoin in brick-and-mortar stores?
- Litecoin Point-of-Sale
- 5 ways Litecoin will boost your business
- Best Litecoin use cases in daily life
- The Difference Between Bitcoin And Litecoin
- Businesses Accepting Litecoin