Flexa Welcomes Litecoin: Spend LTC in 39,000 Locations

In 2018, Litecoin ( LTC In recent times, the competition in the crypto market has not been favorable for Litecoin. It’s been overshadowed by rivals, but a looming block reward reduction has renewed interest, reviving investor enthusiasm and adoption rates. Bitcoin Cash and EOS This week, a burgeoning crypto payment company has unveiled support for Litecoin, expanding its repertoire to five digital assets.

Whole Foods Now Accepts Litecoin as Payment

Read: What are Flexa & Spedn? Complete Guide

Litecoin has recently become part of Flexa's payment network, empowering vendors to accept cryptocurrency while still receiving payments in US dollars. As the original Bitcoin spinoff developed by ex-Google and Coinbase engineer Charlie Lee, it joins the likes of Bitcoin, Ethereum, Bitcoin Cash, and the Gemini Dollar, which were initially accepted by Flexa starting May 13th.

According to a recent blog post In their announcement justifying the inclusion, Flexa highlighted Litecoin’s unique qualities—its minimal transaction costs, speed of confirmation, substantial trading volumes, and its fervent, active user community. These elements make it stand out in the blockchain sphere. Flexa With Litecoin's integration, Tyler and Cameron Winklevoss enjoyed a coffee at Starbucks using cryptocurrency they helped bring to life. This is only the beginning, as major retailers like Nordstrom and Whole Foods have embraced Bitcoin and Ether payments, too.

Currently, you can utilize Litecoin to make purchases at over 39,250 stores across the U.S. thanks to Flexa, which routes payments through Gemini. Chains like Baskin Robbins, Bed Bath & Beyond, GameStop, Nordstrom, Office Depot, Petco, and Amazon-owned Whole Foods are part of this growing network. Addressing a gathering at the Asia Blockchain Summit in Taipei this Wednesday, Charlie Lee expressed:

“I’m thrilled to witness Flexa propel Litecoin payments into mainstream markets, offering our community the chance to use LTC at many top-tier retailers.” https://t.co/ftcn7tNX1T by @DelRayMan via @Forbes #Consensus2019 #NYCBlockchainWeek pic.twitter.com/lyJlwNiCKp

— Forbes Crypto (@ForbesCrypto) May 13, 2019

Through Flexa's SPEDN app, spending Litecoin is straightforward, as the cryptocurrency can promptly be turned into fiat currency. The app is fully functional on Apple's iOS and is being trialed on Android.

The launch follows the Litecoin Foundation's collaboration with Bibox Exchange and Ternio, key players in the crypto landscape, to introduce a debit card that users can load with Litecoin and other tokens like Bibox and Ternio. This enables spending at any Visa-accepting shop, potentially overshadowing the Flexa news.

The broader cryptocurrency market is witnessing a surge in its role as a viable exchange medium both online and offline. Recently, Twitch has resumed allowing subscription fees through BitPay, permitting fans to support their favorite streamers using Bitcoin and Bitcoin Cash, while companies like Avnet and AT&T are also integrating crypto payments.

Well-respected blockchain analyst Willy Woo posits that the spreading acceptance of cryptocurrencies will fuel Bitcoin's growth:

Swelling Adoption

“The endless debate over Bitcoin as currency misses the point. It’s about the generated visibility—it bolsters Bitcoin’s presence as a store of value.” reported by this outlet As large corporations warm up to cryptocurrencies like Bitcoin for transactions, some critiques question the logic of spending Bitcoin on everyday items. Analyst Murad Mahmudov previously told Tone Vays he'd prefer holding onto Bitcoin for a decade to capture long-term gains.

Since 2013, I’ve been deep into the cryptocurrency journey, with my work and interviews showcased in top industry outlets like LongHash and NewsBTC. Aside from writing, I'm involved with HTC's EXODUS division as part of the team. I have a modest Bitcoin stash. Reach me at [email protected]