Businesses accepting cryptocurrency payments are increasing with the growing crypto adoption. Despite Bitcoin being the most popular cryptocurrency, individuals look for other options. That’s why businesses that accept payment in crypto provide customers with multiple crypto options. That’s why many crypto gateways are providing altcoin payment services. So, first of all, let’s learn what altcoins are.
What Are Altcoins?
The term ‘altcoins’ means ‘alternative coins’, or any cryptocurrency other than Bitcoin, e.g., Ethereum, Litecoin, Binance Coin, etc. Many altcoins are created to improve specific purposes, such as transaction speed, lower fees, smart contracts, or blockchain scalability. So, businesses that accept altcoins enjoy faster payments, reduced costs, and greater customer flexibility. In this article, we’ll talk about the top 5 altcoins to accept with our cryptocurrency payment gateway based on popularity, speed, low fees, and real-world usage.
1. Ethereum (ETH)
Ethereum is next to Bitcoin when it comes to popularity. Also, it has the second-largest market cap. Among crypto investors, it is well-known for its smart contract capabilities and a strong presence in the DeFi and NFT market. By accepting ETH payments using our crypto payment gateway, your business can access a large and active user base. Though Ethereum’s gas fees keep varying, its wide adoption and security make it a good option for businesses to accept crypto payments.
Benefits of Accepting ETH Payments
- Trusted and widely adopted by global crypto investors.
- Supports fee reduction via the Gas Station on our crypto payment processor.
- Due to high liquidity, it can be converted to fiat or any other tokens easily.
- Supported by major wallets and crypto exchanges.
2. Litecoin (LTC)
Litecoin focuses on fast and low-cost transactions. Its block time is four times faster than Bitcoin’s. Also, it offers consistently low fees. Therefore, it is ideal for businesses that frequently accept payment in crypto. Apart from that, Litecoin is known for its long-term stability, so it has become a favorite cryptocurrency for business owners and customers to make payments. If you are looking for a fast, affordable, and widely adopted crypto payment option, you can integrate Litecoin payments into your business website.
Benefits of Accepting LTC Payments
- Faster confirmation compared to Bitcoin.
- Only 0.01 LTC transaction fee on our crypto payment gateway.
- Low fees and fast processing make Litecoin a good option for micropayments.
- Can handle large-volume transactions without congestion due to faster block generation.
3. Binance Coin (BNB)
BNB is the native token of one of the world’s largest cryptocurrency exchanges, which is Binance. Its transactions take place on the Binance Smart Chain, known for processing ultra-fast transactions at low fees. Majorly, traders, NFT holders, and DeFi platform users own the Binance Coin. Businesses that are targeting tech-savvy customers or those who are active in the Binance ecosystem can accept BNB payments, as it offers a great combination of speed and security when processing cryptocurrency payments.
Benefits of Accepting BNB Payments
- Binance Smart Chain causes low transaction costs.
- On CoinRemitter, you can reduce BNB transaction fees using the Gas Station.
- Niche, knowledgeable, and tech-savvy audience, along with the Binance ecosystem’s support.
- BNB offers high liquidity, so you can convert it to any token or currency easily.
4. Tron (TRX)
Tron is popular for offering ultra-fast transactions and offers one of the lowest transaction fees. Businesses such as gaming, streaming, and content-sharing sites that require large-volume or micro transactions prioritize accepting cryptocurrency payments in Tron. It is best suited for businesses that want to offer a fast and cost-effective checkout process. International customers who process crypto payments frequently, or customers of subscription-based models, prefer to pay in Tron because of its speed and negligible fees.
Benefits of Accepting Tron Payments
- Tron’s network can process over 2000 transactions per minute.
- Tron has a wide network of DApps, wallets, and exchanges.
- An alternative to Litecoin for micropayments.
- Easy to integrate with CoinRemitter’s API, plugins, widgets, and a large community for quick technical support.
5. Bitcoin Cash (BCH)
Just like Litecoin, Bitcoin Cash is another fork of Bitcoin, which is designed to handle daily crypto payments more efficiently. Its network has larger block sizes, which can store more transactions at once, and enables faster and cheaper transactions. BCH is a widely adopted cryptocurrency. Many wallet providers and cryptocurrency payment gateways also support Bitcoin Cash. Therefore, it is an ideal choice for those looking to own a cryptocurrency similar to Bitcoin, but at a lower cost. Especially, it is useful for retail businesses or service providers that accept crypto payments regularly.
Benefits of Accepting Bitcoin Cash Payments
- A larger block size compared to Bitcoin reduces network congestion.
- Only 0.01 BCH transaction fees on CoinRemitter with an extremely low minimum transaction value.
- BCH has strong recognition and offers practical improvements as a Bitcoin fork.
- Transaction fees remain almost stable, even during congestion.
Final Thoughts
All five altcoins mentioned above offer businesses faster, more affordable, and globally accessible payment options. Some of them are Bitcoin’s forks, and they carry Bitcoin’s legacy with some necessary improvements. Each cryptocurrency provides a unique benefit in terms of speed, fees, and scalability. By offering altcoin payment options, you can make your checkout more versatile and attract a broader range of customers. Apart from that, our crypto payment processor allows you to integrate crypto payments in most of these currencies for free. Also, our lowest processing fee makes these altcoins ideal for accepting crypto payments.