ACCEPTING LITECOIN. Harnessing the power of cryptocurrency for your business

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1 ACCEPTING LITECOIN Harnessing the power of cryptocurrency for your business

2 THE BASICS Cryptocurrencies are digital currencies designed to work as a medium of exchange. They use cryptography and blockchain technology to secure and verify transactions as well as to control the creation of new units. The technology behind cryptocurrencies allows users to send them directly to others without having to go through a third party, such as a bank. Created by Charlie Lee in 2011, Litecoin leverages the best parts of Bitcoin while also improving upon its deficits, such as slower transaction times and high fees. The Litecoin Advantage SPEED Litecoin is confirmed faster than Bitcoin LIQUIDITY Litecoin s max supply is 84 million coins as because it generates a block every 2.5 minutes opposed to Bitcoin s 21 million. This means that as opposed to Bitcoin s 10 minutes. This it will be more readily available for daily means you get your money quicker. EQUALITY Litecoin miners use a slightly different mining protocol which created a fairer distribution of coins. purchases instead of being hoarded like Bitcoin. TECHNOLOGY Litecoin is capable of testing and implementing technology faster than Bitcoin. For more on the in s and out's of cryptocurrency, check out these great guides from the Liteschool Did you know? Someone recently transferred $99 million in litecoin and it only cost them $0.40 in fees!

3 TAKING YOUR BUSINESS TO NEW HEIGHTS Thousands of businesses around the world accept cryptocurrencies today. From Microsoft and Overstock.com, to small businesses and mom and pop shops, cryptocurrency adoption is happening at an incredibly fast rate. Designed explicitly for payments, Litecoin can give your business several advantages, including: The ability to accept payments from anywhere in the world instantly Greater protection from fraud schemes and bad actors No need to store sensitive customer data Adding to your bottom line through lower fees than those incurred through other forms of payments such as credit cards and Pay Pal Visibility to millions of customers around the world who want to spend their Litecoin

4 GETTING STARTED There are many payment processors that can help you get set up to accept Litecoin -- sometimes in a matter of minutes! Here are a few, below. Not sure who to choose? Send us an at AcceptLitecoin@LitecoinFoundation.net and we'll help you pick the right partner for your business. SMALL BUSINESSES (Multiple POS / Online) Coinbase Commerce BTCPay OS Server GoCoin MEDIUM SIZED BUSINESSES (Multiple POS / Online) Aliant Payments Coinpayments BTCPay OS Server Coingate (EU) GoCoin LARGE BUSINESSES (Multi-regional POS / Online) Contact Litecoin Foundation: AcceptLitecoin@LitecoinFoundation.net

5 FAQs WHAT IS BLOCKCHAIN? The blockchain is a digitized, decentralized, public ledger that keeps track of every transaction made using its network. Constantly growing as completed blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central recordkeeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically. More Info

6 FAQs WHAT IS MINING? Mining is the process in which Litecoin transactions get processed and recorded through the submission of something called "blocks", where the blockchain gets extended and the security of the ledger is established. Miners, who are in charge of the activity mentioned above, compete with one another to solve a mathematical problem the fastest to gain the rights to submit their version of the block first. The faster miners solve these problems, the harder they become and the more secure the ledger becomes. In light of this, miners are rewarded for their hard work through "block rewards" every time they successfully submit a block as well as mining fees. This is also how Litecoin gets distributed.

7 FAQs WHAT ARE THE DIFFERENT TYPES OF CRYPTOCURRENCIES? Decentralized Coins: Litecoin, Bitcoin, Ethereum De-inflationary/Hard limit of coins Active Open Source repository with an active developer community Completely trust-less (which is a good thing) Centralized Coins: Tether, Ripple, Stellar Founder s control the protocol. Coins can be created at anytime Software is closed source In founder(s) you must trust Centralized Coins that generate tokens (ICOs) - Flipz, Jaavy, BASIS Deregulated security which entails greater risk No requirement to show business progress or improvement Have a traditional senior management team but often they are anonymous

8 FAQs WHAT IS A CRYPTO WALLET? A cryptocurrency wallet is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance. Type of Wallets: Paper/Metal - A string of number and letters placed on something physical Software - A desktop or mobile app that stores private keys and conveniently allows users to send and receive crypto (Electrum, Exodus, Coinomi) Hardware - A device that only works when connected to the internet. Usually kept in a safe place. (Ledger, Trezor, KeepKey, etc.) Custodial - An account that references coins you own. Private keys are held by the custodian (Coinbase, Binance, etc.)

9 FAQs Is cryptocurrency a scam? In any industry there are always bad actors who look to take advantage of and victimize people. Cryptocurrency is no different. However, the vast majority of participants in the market are legitimate parties seeking to use the power of cryptocurrency to benefit people around the world. Don t criminals use it? Fiat, like USD, is more untraceable than Litecoin at the moment and is used more frequently for criminal activities than cryptocurrencies. Can t Litecoin be hacked? No. Only wallets or computers can contain malware. This is why basic operational security (opsec) is important to learn and practice. Can Litecoin really improve my bottom line? We can t make any guarantees about the market price of Litecoin, but it is designed to function as both a medium of exchange and a store of value. This means the price can increase over time. It is similar to gold or silver in this way. Aside from that, lower transaction and processing fees mean you keep more of your money.

10 Is accepting Litecoin really this easy? Yes! With our help, you will easily be able to not only integrate LTC payments but also protect your investments securely. Give us a shout and we ll help you get your business accepting Litecoin in no time! the Litecoin Foundation at AcceptLitecoin@LitecoinFoundation.net