Why Starbucks Might Start Accepting Litecoin (LTC) as Payment

On an earnings conference call that took place Thursday, the Chief Executive Officer of Starbucks hinted that the global coffee chain giant is considering accepting cryptocurrency payments at its brick-and-mortar store. While that was pretty subtle, he was very direct in saying that Bitcoin (BTC) wasn’t “going to be a currency today or in the future.” With BTC out of the picture, we have a few solid reasons that lead us to believe Litecoin (LTC) is a serious contender.

Why Litecoin could come out on top:

Mr. Schultz clearly isn’t on board with Bitcoin (BTC), but he did say: “I personally believe that there is going to be one or a few legitimate, trusted digital currencies off of the blockchain technology.”

The CEO also said that he believes “we are heading into a new age, in which blockchain technology is going to provide a significant level of a digital currency that is going to have a consumer application.”

He added that these trusted coins will need to be “legitimatized by a brand in a brick-and-mortar environment, where the consumer has trust and confidence in the company that is providing the transaction.” I think a lot of people can read between the lines here: a trustworthy cryptocurrency is on its way to Starbucks, but it’s not Bitcoin (BTC).

So that leaves us with a number of altcoin options, including Ripple (XRP), Ethereum (ETH) or maybe even an up-and-comer like RaiBlocks (XRB).

But we believe that Litecoin (LTC) has a slight edge over all these options in the short-term.

Because Litecoin (LTC) is More Accessible than Ripple (XRP)

It may have slipped to being the 7th most valuable crypto coin on the market (after being surpassed by Stellar (XLM) and Cardano (ADA), but LTC remains a very established and reliable online payment option. It may have lost a pretty big chunk of its market value in the past few months, but then again so did Ripple (XRP).

This currency is one of the only four that is accessible on Coinbase, for example. That’s the world’s largest cryptocurrency trading platform, and XRP is nowhere to be found. If Starbucks wants to be able to help the masses with this payment option, a Coinbase-accepted currency would be the best place to start.

It May be Tradable for Free on Robinhood Soon too

Free stock market trading app Robinhood, that’s known for being super popular with millennials, recently announced that it will start running free cryptocurrency trades beginning next month.

We still don’t know which coins will be traded on the platform, exactly, but at least LTC is currently featured on the crypto watchlist you can make. We take that as a good sign that Litecoin (LTC) will end up on Robinhood, especially since it’s already on Coinbase.

Unfortunately, however, the founder of Litecoin is being especially desperate on Twitter in an attempt to convince Robinhood to choose his coin:

litecoin (ltc) litecoin starbucks ltc litecoin price

litecoin (ltc) litecoin starbucks ltc litecoin price

Hopefully that doesn’t turn Robinhood off too much.

LTC is Cheaper and More Scalable than Ethereum (ETH) and Bitcoin (BTC)

We are all aware of (and most of us are tired of) the prices involved with ETH and BTC transactions. Our frustration is made worse when we know that there are coins that charge muss lower transaction fees – even a lot that charge no fees.

And Ethereum and Bitcoin transactions can also move at a glacial speed – often getting clogged up and lagging beyond what is tolerable.

Litecoin (LTC), on the other hand, is four times faster than Bitcoin (BTC). On top of that, the median Bitcoin transaction fee is $3.45, while LTC transaction fees are just a couple pennies.

Why on Earth would Starbucks go with Bitcoin?




Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

6 COMMENTS

  1. There’s been some interesting moves lately with LTC. In addition to Starbucks, I think Facebook may, and should, consider using it as their cryptocurrency. There are 7 Reasons why I think it could happen:

    1) December 2017 – LTC founder Charlie Lee sold and donated all of his LTC, avoiding any potential conflict of interest. All changes made will be based on what’s best for the coin, not himself.
    2) December 2017 – Facebook’s VP of Messaging, David Marcus, joined LTC board of directors bringing his experience in building large scale mobile products
    3) January 2018 – Facebook CEO, Mark Zuckerberg, said cryptocurrency will be a major focus of Facebook this year. He already has one of his employees on the board of LTC.
    4) January 2018 – Litecoin and Monero may only be steps away from a merger. This will bring anonymity to Litecoin.
    5) January 2018 – India’s largest cryptocurrency exchange, Zebpay, just added LTC. Zebpay is a gateway to crypto investing for 1.3 billion people.
    6) January 2018 – Charlie Lee is proposing a LTC soft fork which will make their transaction fee ridiculously low going from about 28 cents to less than 1 cent for most transactions, compared to $20 for many BTC transactions.
    7) January 2018 – LTC is still cheap for a well established coin with a total supply of 84M available. LTC has 4x the amount of coins of BTC. In simple valuation: Take BTC’s low price of $10,000 divide by 4 and that is $2500 per LTC coin. LTC is currently trading below $200. If FB does adopt LTC, even $2500 per coin will be cheap.

    Let’s push for it. Litecoin for Facebook. #LTC4FB Copy-Share-Paste. Full disclosure: I own some LTC and many other coins

  2. You can wipe ass with XRP because it´s not a real crypto but a tool for banksters to break into the coinmarket.
    Only naive beginners will invest into that.

    Only useful coin as a trusted payment option for such as Starbucks is Litecoin because it´s most stable one.

  3. “Unfortunately, however, the founder of Litecoin is being especially desperate on Twitter” – if you think Charlie is desperate about anything you’re a fool who doesn’t understand marketing. He’s being proactive in rallying people to promote Litecoin. Just tell the story. Be a journalist, not a chodey negative idiot denigrating Charlie. What SatoshiLite is doing is on the level of Steve Jobs and Bill Gates. Litecoin is the Porsche of crypto. It’s painstakingly hand built by an expert to perform superbly in this space. And it’s going to the moon. Show some respect.

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