ForexMinute.com – With Bitcoin adaption booming by every second, there was indeed immense pressure on other coins to live up to such competition. Litecoin, being one of the closest competitors to Bitcoin, has already been subjected to such a duel with the latter. And it seems like it’s moving towards a serious contest, proves the CheapAir’s recent announcement.
The airline service company, which began accepting Bitcoin somewhere near November, announced recently that it will now also add Litecoin as one of the payment methods. In the same statement, the company also announced to accept Dogecoin as well.
Quite amusingly, CheapAir’s announcement comes right after the much-sarcastic article by Litecoin moderator “The Real Mage”. He, few days back, criticized the third party payment processors for killing a cryptocurrency slowly and steadily. He criticized the way such companies simply sell-off a coin in exchange of fiat currencies, thereby ending its chances of being circulated once for all.
In case of CheapAir, Litecoin and Dogecoin will both be processed by famous payment processing platform GoCoin. The company has already committed for making millions off Bitcoin, and expects the same from its new additions as well.
“In general I am very supportive of alternative currencies and the technology is very promising,” CheapAir CEO Jeff Clee told Forbes while acknowledging digital currencies’ capability of minimizing transaction costs. “Big banks have such a stranglehold on commerce with their 3% per transaction fees. They need some competition and digital currencies are best suited to provide it,” he said.
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