On the 10th of January GoCoin, a leading PayPal analogy for Bitcoin started to accept Litecoins. As a user of GoCoin You now can switch from one crypto to another without the need of multiple exchanges.
A short summary for those of our readers, who are yet unfamiliar with GoCoin. The latter is one of the most prominent payment platforms for digital currency. Since July of the 2013 it did for Bitcoin users the same thing the PayPal did for credit cards.
So, its role is to optimize the process of transferring coins to the business holders, momentarily turning crypto into something more common and accepted such as VISA, PayPal and AMEX. The only thing entrepreneur, who wants to benefit from the growing popularity of Bitcoin has to do is to fill an application form on the GoCoin’s website and put a tool to pay with crypto on his/her webpage.
Currently Litecoin is going through the phase of already having devoted users and enthusiasts and people who want to give it a test-drive, but not sure. The question, that bothers them, arises in anyone, who wants to invest his or her funds into a non-fiat currency: “Is there anything I can actually buy for these?” GoCoin proudly dispels any doubts (for BCs and LCs at least) as it is the first platform to unite two cryptocurrencies at once, while merchants on the market choose to specialize in only one type of coins and not in the favor of Litecoin.
By the words of Steve Beauregard, CEO of the service we are looking into, they designed the platform to adapt emerging digital currencies such as Litecoin to the wide market, because of the promise that digital market provides. Their final goal is claimed to be the creation of “a one-stop payments solution for merchants to streamline checkout and expand sales with digital currency payments."
Companies that produce hardware for cryptomining are especially happy to hear this. . Words of the President of a business that specializes in this kind of devices, Sam Cole support it: "Through this new alliance with GoCoin, for the first time, our worldwide customers will be able to pay with both Bitcoin and Litecoin." Because of the character of their business, they had to have the option to receive payment in Bitcoin. Other way it would look suspiciously and in the eyes of their clients such companies could be rendered untrustworthy. Not accepting cryptocurrency while making money on something that supports the crypto’s work and emission is strange marketing policy at best. However, Litecoin movement before GoCoin entered the game and proclaimed their full support did not have enough weight to compete with BTC: "In the past we had to turn away customers requesting to purchase KnCMiner computers with Litecoin," – Cole’s own words.
If You are interested in what KnCMiner is – go check their webpage, they do not have problem with client base as their freshest miner “Neptune” is already out of stock.
Altogether, I must say that this new feature of GoCoin without a doubt will have long going consequences, as new emerging cryptos will finally have teeth to compete with Bitcoin, which to this moment was unsurpassable in its integration into the infrastructure.
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