Accepting cryptocurrency payments is becoming increasingly common among online retailers. Storing cryptocurrencies in a wallet is not something out of the realm of fiction but a new reality. You don't have to be an IT expert to enable customers to make payments for purchases in Litecoin.
Let's understand what it takes to enable users to use cryptocurrency (Ethereum, Bitcoin, Litecoin) to pay for your services and goods.
Cryptocurrency is an "encrypted" currency that is mined or simply bought with regular money. Its popularity stems from the fact that it is independent of banks, it is decentralized, meaning it is stored on several computers rather than just one, and any transactions with it are recorded in a blockchain, meaning they are transparent and fraud is virtually impossible.
The user is not required to give personal information, there is no need to have a bank card, and it is possible to pay for foreign services with crypto. An important comment: if any amount is mistakenly transferred, there is no option of getting the money back - this is a side effect of the anonymity of the operation.
The use of cryptocurrencies goes beyond just storing funds. Processing includes large business investments, online shopping, business loans, and so on.
Litecoin is somewhat inferior in popularity and value to Bitcoin. However, the number of daily transactions with it is steadily increasing. The project does not compete with bitcoin; it has its own niche.
To start accepting Litecoin or another cryptocurrency on the site as payment, you can use different means.
Accepting payments using a cryptocurrency wallet. This is not difficult, but not suitable for all merchants.
Buy a separate server to make your own wallet with API. This will require a lot of hard disk space and, most likely, the support of a specialist. How to accept crypto without 3rd party services is debated among programmers.
A simple way is to connect a gateway to your existing website that accepts cryptocurrency payments. For users, you will place a QR code, which will work as a link, by clicking on which the client will confirm the transaction.