Litecoin Becomes Most Popular Asset for Crypto Payments in U.S.

Crypto processing platform BitPay processed over 600,000 transactions in 2024, with Litecoin (LTC) emerging as the most popular cryptocurrency for payments, accounting for more than 30% of all transactions.

BitPay, one of the oldest crypto processing platforms, released its 2024 annual report, revealing a total of 608,000 transactions. The top five cryptocurrencies used by BitPay users include:

1. Litecoin: 201,165 payments. 
2. Bitcoin: 130,250 payments.  
3. Ethereum: 56,356 payments.
4. Dogecoin: 32,148 payments. 
5. USD Coin: 24,768 payments.

The United States accounted for approximately 76% of all transactions proccesed. March recorded the highest transaction volume, with 62,000 payments processed. January and February followed with 60,000 and 57,600 transactions, respectively.

The most commonly purchased goods and services using cryptocurrency included sports equipment, precious metals, VPN and hosting services, computer networks, vehicles, internet provider services, luxury items, jewelry, software, financial services, and transportation.

Previously, CP Media provided an in-depth guide on crypto processing and how to pick the best service for crypto payments in business.