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Study: Litecoin is hot with online shoppers, USDT biggest gainer.

According to a recent study, Litecoin (LTC) is being used more and more by online shoppers.

By Finst News
• 2 min read
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Study: Litecoin is hot with online shoppers, USDT biggest gainer.

According to a recent study, Litecoin (LTC) is being used more and more by online shoppers. Crypto payment processor CoinGate says that after Bitcoin, Tether and Ethereum, Litecoin is the most popular with about 9.5 percent of all payment traffic.

Compared to 2021, Litecoin (LTC) has risen to 6 percent — there were 88,295 payments in 2022, versus 83,620 in 2021. January 2022 was the year's strongest month with 8,971 transactions. CoinGate explains: "First, Litecoin’s transaction fees are low, making it a suitable currency for online shopping, regardless of payment amount. Currently, the average transaction fee is only $0.007 per transaction." Second, Litecoin is fast, "as it takes miners only 2.5 minutes to mine a block of transactions, compared to 10 minutes for the Bitcoin blockchain."

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Online shopping with crypto is getting more popular

While Litecoin climbs in the ranks of the most popular cryptocurrencies, the picture for Bitcoin is the opposite. Although 48 percent of all crypto transactions at online stores in 2022 were still paid with BTC, this percentage fell by 7.6 percent versus 2021. Meanwhile, the number of USDT (Tether) payments is growing the fastest. The share of stablecoin payments rose from 2.3 percent to 14.8 percent.

Crypto payments are becoming more popular at online stores. According to CoinGate, a total of 927,294 cryptocurrency payments were made last year — 63 percent more than in 2021.

At the time of writing, Litecoin (LTC) is traded at 89 euros, down 1 percent from 24 hours ago.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.