Which Cryptocurrencies Are Most Used in E-Commerce: Surprise Altcoin Surprised, Here is the Current Report

crypto payment processor CoinGatehas prepared a new report on how often digital assets are used in e-commerce. With the research report published today, it has emerged which cryptocurrency is used more frequently in payments.

Blockchain most commonly used in internet shopping cryptocurrency detected that its currency is Bitcoin. The ancestors of cryptocurrencies are respectively Tether (USDT) And Ethereum (ETH) followed. While the first 3 rankings took place normally, Litecoin (LTC), which did not take up the agenda as much as other altcoins, surprised everyone.

Realizing this interesting data, CoinGate focused on LTC in its research. Payment company through 2022 Litecoin found that the payments made up 14.7% of the total.

While 83,620 different payment transactions were processed through LTC in 2021, this figure was determined as 88,295 last year. January of 2022 was the period in which payments were made most frequently.

Why Do Customers Pay With Litecoin?

After the data, CoinGate researchers felt the need to speculate on why customers prefer LTC. Officials explained Litecoin’s dominance over its competitors with the factor of network speed and payment commission.

“The average payment cost on the Litecoin network is only $0.0070. The second reason is Litecoin is by far faster than Bitcoin. While it takes an average of 10 minutes to complete a block on the BTC network, it only takes 2-3 minutes on LTC.”

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