Litecoin is one of the most valuable digital currencies in the market. It was created to improve the structure of Bitcoin. Even at that, Litecoin has become increasingly popular as a payment option in recent times. If you have some Litecoins and are wondering where to use them, keep reading to find out the top 5 places that accept Litecoin payments.
Top 5 Businesses that Accept Payments With Litecoin
1. Spend Your Litecoin on eGifter
This is a New-York based gift giving site that has allied with GoCoin to offer Litecoin and Bitcoin payment options to users. According to the team, accepting Litecoin payments is a good business move as many retailers have reported a massive boom in sales after accepting payments in Bitcoins and Litecoins.
- Pay for IT Services to Ellenet
This is an Australian provider of IT solutions that accept payments in Litecoin and Bitcoin. The firm has grown a great deal since it was established in 1998 and is making plans to expand even more. The company teamed up with Petabit Pty. Ltd, a digital marketing company that works with Litecoins and Bitcoins. The partnership is what has allowed Ellenet enable Litecoin payments.
- Make a Donation to Sean’s Outpost
This is a homeless outreach center that is committed to improving the Satoshi local communities by accepting Litecoin donations. The outreach provides meals for poverty-stricken people. The team behind the project is positive that more donations will be made to promote their mission through Litecoins and Bitcoins. - Buy mining Hardware from KnCMiner
This is a company that deals with mining hardware giving cryptocurrency lovers opportunities to earn Bitcoins and Litecoins. The mining hardware you intend to buy can be purchased with Litecoins making it fit. - Buy a Car on Benz and Beamer
You can get the best auto deals on Benz and Beamer with Litecoins. Their transactions go through GoCoin and make closing deals fast and efficient.
These are the top five places to use your Litecoin in case you’re tired of trading with them.
Litecoin Will Get Smart Contracts via Flare Networks
Litecoin will receive smart contract capabilities through Flare Networks, according to a tweet from the latter project.
Flare Networks Adds Smart Contracts
Flare Networks states that it will introduce the feature ahead of its launch in Q2 2021. It says that this will allow Litecoin to be used on Flare “with Ethereum-style smart contracts,” noting that this will provide Litecoin with “interoperability and composability.”
Though Flare Networks has not yet announced precisely what developers will be able to do with smart contracts, it is likely that Litecoin developers will be able to create decentralized applications (dApps) similar to those found on Ethereum.
Flare Networks will also airdrop tokens to Litecoin holders. The project will reallocate 5 billion FLR tokens from its own holdings in order to pay those who participate in the airdrop.
Flare is also working to integrate smart contracts with XRP Ledger in a similar way. It will release tokens from that airdrop later this year.
Is the Project Viable?
Flare is a third-party project, but the Litecoin Foundation has acknowledged its efforts, noting that it is “very excited to see the capability of smart contracts and interoperability” coming via Flare.
However, other third parties have pursued similar goals with little fanfare. In 2018, Litecoin leader Charlie Lee previously acknowledged Litecoin support for smart contracts through a different platform, Abra. Those smart contracts were limited to certain functions on the Abra trading platform.
Flare’s smart contracts will seemingly be much more full-featured. Still, it is not clear that Flare-based smart contracts will be widely used or become highly visible when the project goes live.
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Andreas Kaplan is a freelance cryptocurrency and blockchain writer.