Litecoin Outdoes Bitcoin, Accounting for 40% of Transactions According to BitPay's VP
At the Litecoin Summit in Las Vegas, Merrick Theobald of BitPay announced a significant development: Litecoin now accounts for over 40% of all transactions on BitPay's platform. This widespread adoption highlights the growing popularity of Litecoin for everyday payments.
Established in 2011, BitPay has been a leading player in crypto payments, partnershiping with major corporations like Ferrari North America, AMC Theatres, and the Dallas Mavericks. Enabling them to accept digital currency while settling payments in U.S. dollars the following day.
Theobald emphasized, "We work with companies, such as Ferrari North America, AMC movie theaters, and the Dallas Mavericks, who accept crypto and get settled in US dollars."
The company initially focused mainly on Bitcoin but began accepting Litecoin in 2021, a move Theobald described as a turning point. "In the summer of 21, we first started to accept Litecoin, and it has been beneficial ever since."
Litecoin's low fees and swift transaction times have attracted many users. Theobald clarified, "Litecoin is our most actively transacted cryptocurrency, by the number of transactions, not by revenue." Although Bitcoin transactions may be larger in dollar amount, Litecoin is used more frequently.
Data from bitpay.com reveals that in April 2025, Litecoin surpassed Bitcoin in the number of transactions. An achievement preceded by Litecoin's transaction share exceeding 40% for the first time in early 2024. Although there have been fluctuations since then, interest in Litecoin has remained robust overall.
The top countries using Litecoin for transactions are the U.S., U.K., Netherlands, Germany, and Poland. While Canada and Australia were previously among the top five, they have since dropped out of the list. Litecoin is popular in sectors like VPN and hosting services, internet services, IT, and gaming. VPN and hosting services have been the primary drivers of growth this year due to rising demand for digital infrastructure.
Large transactions are not uncommon for Litecoin. The largest Litecoin payment processed by BitPay last year was for a $125,000 luxury watch. Other substantial purchases included a $50,000 hosting subscription and a $45,000 gold and precious metals order, demonstrating Litecoin's versatility in both everyday purchases and significant transactions.
BitPay also uses Litecoin for payouts. Numerous companies pay affiliates, rewards, and rebates worldwide through BitPay, with recipients able to choose their preferred cryptocurrency. Theobald stated, "Our most commonly used payout coin is Litecoin, followed by Bitcoin." Since early 2022, Litecoin has accounted for nearly half of BitPay's payouts due to its speed and low cost.
Regular users can utilize Litecoin for online shopping, bill payments, gift card purchases, and travel bookings with partners like Vacation Genie. Theobald provided an example, "If you're in line at Home Depot, and you want to use your Litecoin, and you have our app already, you can buy a Home Depot gift card right there for $450, and complete it within seconds."
Platforms like Coupon Cabin, Ludibly, PrizeRebel, and Simply Codes allow people to earn free Litecoin through shopping or taking surveys. Theobald believes this encourages learning about cryptocurrency without financial risks. "Not everyone understands cryptocurrency, and they're hesitant to buy cryptocurrency, but if you're given cryptocurrency, you might learn about it."
BitPay plans to reintroduce its prepaid debit card in 2025 after losing it due to banking rules. In Argentina, some developers prefer to receive their full payment in cryptocurrency due to the instability of the peso.
Thanks to Litecoin accounting for over 40% of BitPay's transactions, strong backing from the platform, and advancements like the LitVM Layer-2 network, Litecoin appears well-positioned to maintain its lead in crypto payments globally.
In the realm of cryptocurrency, BitPay's focus shifted from solely Bitcoin to embracing Litecoin in 2021, a development which Theobald described as a turning point. Currently, Litecoin is the most actively transacted cryptocurrency on BitPay's platform, demonstrating its growing importance in the world of finance and business, greatly influenced by technology. Furthermore, Litecoin is the preferred payout coin for numerous companies on BitPay's platform, accounting for nearly half of its payouts due to its swift transaction times and low fees.
