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Litecoin and Bitcoin payment processors

by thedan
10 replies
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Hi all,

With the state of the world economy and the gaining of acceptance for virtual / crypto currencies like Litecoin and Bitcoin, I am considering adding the ability to accept payments with those currencies to my online storefront.

I noticed on the news that Overstock recently started accepting bitcoin and earned a lot of revenue just by accepting that new form of revenue... so I'm thinking of doing the same =D

Right now the bitcoin payment processors I have found are GoCoin and Bitpay....

However, in the news on Yahoo is that Litecoin is now being accepted by Gocoin:

GoCoin First to Enable Merchants to Accept Litecoin on the International Alt-Currency Payment Platform

I really like the idea of having Litecoin being accepted on top of Bitcoin, which Bitpay does not offer.

Anyone have any thoughts or experience with GoCoin or Bitpay -- and any thoughts on accepting the new virtual currencies, or are most people waiting it how to see what happens?
#bitcoin #litecoin #payment #processors
  • Profile picture of the author Ingredients4Success
    We've been accepting Bitcoins for just over 1 year now.

    Only a very small % of clients pay with Bitcoins, the majority of the clients in question were attracted to our store due to the fact we offered this payment option and their previous supplier/s did not.

    For the record: month on month we are noticing an increase in both enquiries relating to Bitcoin and clients opting to use them to make payment.

    We recently added Litecoin to our list of payment options but as of yet, 6 weeks later, we have still to receive a single payment in Litecoins.

    Hope this helps
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    • Profile picture of the author SandraLarkin
      Banned
      Originally Posted by Ingredients4Success View Post

      We've been accepting Bitcoins for just over 1 year now.

      Only a very small % of clients pay with Bitcoins, the majority of the clients in question were attracted to our store due to the fact we offered this payment option and their previous supplier/s did not.

      For the record: month on month we are noticing an increase in both enquiries relating to Bitcoin and clients opting to use them to make payment.

      We recently added Litecoin to our list of payment options but as of yet, 6 weeks later, we have still to receive a single payment in Litecoins.

      Hope this helps
      Can you answer a question -


      This may sound dumb, but I am not understanding how someone can pay in a bitcoin..

      For example one bitcoin equals around $830 at this moment..


      If you have a product worth $77, and you want to pay with bitcoin, how would you do that? Is that even possible?
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      • Profile picture of the author SteveSki
        Originally Posted by SandraLarkin View Post

        Can you answer a question -


        This may sound dumb, but I am not understanding how someone can pay in a bitcoin..

        For example one bitcoin equals around $830 at this moment..


        If you have a product worth $77, and you want to pay with bitcoin, how would you do that? Is that even possible?
        You can pay 1/1000th of a cent if you wanted to with Bitcoin.

        Bitcoin is so much more than currency. Bitcoin is the most important invention in computer science in 20 years. Watch this YouTube video if you want to learn what Bitcoin really is.

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    • Profile picture of the author thedan
      Good info, thanks. It seems to make sense to keep payment options as diverse as possible. Also thanks for the info on Litecoin not being used yet, I would think people would be quick to spend it, but maybe they're saving the Ltc for some future breakthrough like Bitcoin
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  • Profile picture of the author SandraLarkin
    Banned
    Ahh thanks. I figured it had to be something like that.
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    • Profile picture of the author MasonicDog
      Bitcoin is a tool of the Illuminati. The Moscow reporter in this video got it right when she referred to Bitcoin as part of the "The New World Order".
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      • Profile picture of the author thedan
        Originally Posted by MasonicDog View Post

        Bitcoin is a tool of the Illuminati. The Moscow reporter in this video got it right when she referred to Bitcoin as part of the "The New World Order".
        If that is the case, then it makes sense to get with the program early on while it is still undervalued.

        They're both "global" currencies outside the influence of banks and sovereignty of nations, most of which are on an economic decline from fiat currency, loans, and maybe Keynesianism =b
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      • Profile picture of the author James Foster
        Originally Posted by MasonicDog View Post

        Bitcoin is a tool of the Illuminati. The Moscow reporter in this video got it right when she referred to Bitcoin as part of the "The New World Order".
        What a nut job.

        Even has Masonic in his name... although I'd be willing to bet he's not even a brother Freemason.
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  • Profile picture of the author pickeringmt
    I am curious about this too.
    It seems like a good way to capture a small fraction of consumers that may be looking for a way to spend the money.
    So has anyone answered the original question? What would the best payment processor be?
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  • Profile picture of the author octars
    Just use coinbase dot com
    Its the most easiest way to accepting bitcoin payment on your merchant
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    Octarendra.com
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