Litecoin

Litecoin has become the new <a href="https://bitcoinist.com/litecoin-steals-spotlight-as-premier-payment-choice/">king of cryptocurrency payments</a>, as more users are increasingly adopting this popular digital currency over Bitcoin to execute transactions on the crypto payments platform, <a href="https://www.newsbtc.com/news/dogecoin-4th-most-popular-on-bitpay/" rel="nofollow noopener" target="_blank">Bitpay</a>.&nbsp; 
<h2 id="litecoin-surpasses-bitcoin-in-crypto-payments">Litecoin Surpasses Bitcoin In Crypto Payments</h2> 
In a recent X (formerly Twitter) post, the Litecoin team <a href="https://x.com/litecoin/status/1788029566688370911?s=46" rel="nofollow" target="_blank">announced</a> that LTC has become the number one cryptocurrency for payments on BitPay. The team shared a pictorial chart showing the top seven most preferred crypto payment options on BitPay.&nbsp; 
<a href="https://bitcoinist.com/litecoin-whales-buy-bearish-price-rebound-incoming/">Litecoin</a> led the pack, scoring an impressive 41.38% in Bitpay’s payment count, nearly doubling Bitcoin which was the second largest, at 21.55%. <a href="https://bitcoinist.com/litecoin-accelerating-adoption-ethereum-addresses/">Ethereum</a> and Dogecoin followed with 10.37% and 5.86% respectively, trailed by other cryptocurrencies including Polygon, Bitcoin Cash and Circle’s USDC.&nbsp; 
The Litecoin team disclosed that LTC has been the <a href="https://www.newsbtc.com/news/litecoin/litecoin-beats-out-dogecoin-bitcoin-to-emerge-as-top-crypto-for-payments/" rel="nofollow noopener" target="_blank">number one crypto payment option</a> for BitPay all year. The cryptocurrency’s rise to prominence may come as no surprise to some crypto enthusiasts, considering its <a href="https://www.newsbtc.com/news/cheap-fees-quick-transactions-turn-litecoin-p2p-payment-technology-bitcoin-isnt/" rel="nofollow noopener" target="_blank">faster transaction time and lower fees</a> compared to Bitcoin.&nbsp; 
According to CoinGecko, Litecoin <a href="https://www.coingecko.com/learn/litecoin-vs-bitcoin#:~:text=Another%20feature%20where%20Litecoin%20outperforms,Bitcoin%20charges%20$7.60%20on%20average." rel="nofollow noopener" target="_blank">outperforms</a> Bitcoin in its lower transaction fees, with an average <a href="https://bitcoinist.com/bitcoin-fee-time-to-worry-about-soaring-costs/">transaction cost</a> of $0.04. Whereas, Bitcoin charges $7.60 on average.&nbsp; 
BitPay also revealed that Litecoin boasts a maximum capacity of 56 transactions per second, significantly higher than Bitcoin’s capacity of about seven transactions per second.&nbsp; 
The crypto payments platform <a href="https://bitpay.com/stats/ltc/" rel="nofollow noopener" target="_blank">disclosed</a> that LTC uses a Scrypt algorithm, which is less resource-intensive compared to Bitcoin’s SHA-256 algorithm. This efficiency enables LTC to process transactions up to four times faster, with a new block created every 2.5 minutes, in contrast to Bitcoin’s 10 minutes per new block.&nbsp; 
Earlier in 2023, BitPay published a <a href="https://bitpay.com/blog/bitcoin-vs-litecoin/" rel="nofollow noopener" target="_blank">blog post</a>, highlighting the major differences between Litecoin and Bitcoin. The crypto payments provider revealed that the difference in algorithms between the two cryptocurrencies translates to a significantly faster transaction time for the <a href="http://emphasized" rel="nofollow" target="_blank">Litecoin Network.</a> 
The payment platform also emphasized that Litecoin currently has a definite edge against Bitcoin due to being a “leaner, and faster version” of the pioneer cryptocurrency.&nbsp; 
<h2 id="ltc-s-price-sees-modest-gains">LTC’s Price Sees Modest Gains</h2> 
Taking into account the <a href="https://bitcoinist.com/litecoin-belief-62-5-of-all-ltc-investors-hodlers/">price of Litecoin</a>, Bitcoin maintains a stronger value, given its status as the world’s first cryptocurrency and its commanding market capitalization of more than $1.2 trillion.&nbsp; 
However, at the time of writing, Bitcoin has witnessed a drop in its daily trading volume, decreasing by 4.39%. The cryptocurrency’s price is presently at $61,037, marking another 1.91% <a href="https://bitcoinist.com/bitcoin-price-suffers-sharp-decline/">decline in its value </a>over the past 24 hours, according to CoinMarketCap.&nbsp; 
Conversely, Litecoin is coincidentally up by the same amount, trading at a price of $81.75 and amassing modest gains of 1.91%, over the past 24 hours. The cryptocurrency’s trading volume has seen a 6.17% surge, totaling over $354 million. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/rx6HOU26/" alt="Litecoin price chart from Tradingview.com (Bitcoin)" width="3286" height="1576">

Meet The New King Of Crypto Payments: Why Users Are Choosing Litecoin Over Bitcoin

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