Dominyka is a Copywriter at CoinGate. During her career as a copywriter, journalist, and communication specialist, she had the opportunity to handle a wide range of topics, from human rights to lifestyle articles, technology, and now crypto. She sees the importance of new technologies spread and a need for educational and usable content.

Vilius is a seasoned copywriter and bitcoin enthusiast specializing in blockchain and cryptocurrency topics. He's been with CoinGate since 2018, writing blogs, social media content, sales materials, newsletters, FAQs, and more. He's relentless in pursuing knowledge and a better understanding of the crypto industry, which helps him create meaningful and engaging content every day.

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Litecoin is the second cryptocurrency after Bitcoin that became part of our payment gateway. Since then, our merchants have been <a href="https://coingate.com/accept/litecoin" target="_blank" rel="noopener">accepting Litecoin payments</a> for their goods and services, and they still do to this day. 
<img loading="lazy" class="aligncenter size-full wp-image-6637" src="https://wp-blog-assets.coingate.com/2019/07/46a2f0b1-litecoin_payment_currency_blog.png" alt="litecoin payments stats 2022" width="1856" height="960" srcset="https://wp-blog-assets.coingate.com/2019/07/46a2f0b1-litecoin_payment_currency_blog.png 1856w, https://wp-blog-assets.coingate.com/2019/07/46a2f0b1-litecoin_payment_currency_blog-300x155.png 300w, https://wp-blog-assets.coingate.com/2019/07/46a2f0b1-litecoin_payment_currency_blog-1024x530.png 1024w, https://wp-blog-assets.coingate.com/2019/07/46a2f0b1-litecoin_payment_currency_blog-150x78.png 150w, https://wp-blog-assets.coingate.com/2019/07/46a2f0b1-litecoin_payment_currency_blog-768x397.png 768w, https://wp-blog-assets.coingate.com/2019/07/46a2f0b1-litecoin_payment_currency_blog-1536x794.png 1536w" sizes="(max-width: 1856px) 100vw, 1856px" />
The question is, are they finding any success with it? Based on our internal data, currently, Litecoin stands as the fourth most popular cryptocurrency for <a href="https://coingate.com/blog/post/spend-crypto-for-everything" target="_blank" rel="noopener">purchasing things online</a>, suggesting that its popularity has remained strong. 
As people still gladly use Litecoin, it allows us to investigate and share our in-house data findings regarding Litecoin payments. 
In this study, we are going to overview Litecoin’s performance in 2022 as a payment currency and compare it to a previous year, taking into account payment volume, cart sizes, prominence, merchants’ behavior regarding final settlements, and more.
<h2>How popular is Litecoin for online payments?</h2>
In 2022, CoinGate processed a total of 88,295 Litecoin payments. Over this period, payments in LTC account for 9.5% of total cryptocurrency payments made to CoinGate merchants.
<img loading="lazy" class="aligncenter size-full wp-image-6638" src="https://wp-blog-assets.coingate.com/2019/07/d31f7d11-litecoin_payment_currency_03.png" alt="ltc payments 2022" width="1920" height="1080" srcset="https://wp-blog-assets.coingate.com/2019/07/d31f7d11-litecoin_payment_currency_03.png 1920w, https://wp-blog-assets.coingate.com/2019/07/d31f7d11-litecoin_payment_currency_03-300x169.png 300w, https://wp-blog-assets.coingate.com/2019/07/d31f7d11-litecoin_payment_currency_03-1024x576.png 1024w, https://wp-blog-assets.coingate.com/2019/07/d31f7d11-litecoin_payment_currency_03-150x84.png 150w, https://wp-blog-assets.coingate.com/2019/07/d31f7d11-litecoin_payment_currency_03-768x432.png 768w, https://wp-blog-assets.coingate.com/2019/07/d31f7d11-litecoin_payment_currency_03-1536x864.png 1536w" sizes="(max-width: 1920px) 100vw, 1920px" />
Although in 2021, LTC payments accounted for 14.7% of all orders at CoinGate, 2022 saw 5.5% more orders processed than 2021’s figure of 83,620.
As a result, right now Litecoin is one of the Top 4 most popular cryptocurrencies for <a href="https://coingate.com/blog/post/what-can-you-buy-bitcoin" target="_blank" rel="noopener">retail payments</a>. Bitcoin remains the #1 currency for shopping, followed by USDT and Ethereum.
<img loading="lazy" class="aligncenter size-full wp-image-6639" src="https://wp-blog-assets.coingate.com/2019/07/83b57673-litecoin_payment_currency_01.png" alt="litecoin top payment currency" width="1920" height="1080" srcset="https://wp-blog-assets.coingate.com/2019/07/83b57673-litecoin_payment_currency_01.png 1920w, https://wp-blog-assets.coingate.com/2019/07/83b57673-litecoin_payment_currency_01-300x169.png 300w, https://wp-blog-assets.coingate.com/2019/07/83b57673-litecoin_payment_currency_01-1024x576.png 1024w, https://wp-blog-assets.coingate.com/2019/07/83b57673-litecoin_payment_currency_01-150x84.png 150w, https://wp-blog-assets.coingate.com/2019/07/83b57673-litecoin_payment_currency_01-768x432.png 768w, https://wp-blog-assets.coingate.com/2019/07/83b57673-litecoin_payment_currency_01-1536x864.png 1536w" sizes="(max-width: 1920px) 100vw, 1920px" />
Worth noting that since June 2022, the number of Litecoin payments has been climbing up consistently. In December, the Litecoin payment count reached 7,968, showing an 11.8% increase from the lowest-performing month of June with 6,717 orders.
Interestingly, in January 2022, shoppers spent Litecoin more frequently than usual – LTC was used to purchase goods and services 8,971 times. However, in 2021 Litecoin had a better month, which was November with 10,657 orders processed.
Lastly, the cart size. The biggest one for LTC to date is 312,89 LTC, or €20,641 worth of LTC at the time, whereas the smallest cart is merely 0,0009 LTC. Currently, the average cart size is around $51 in LTC.
<img loading="lazy" class="aligncenter size-full wp-image-6640" src="https://wp-blog-assets.coingate.com/2019/07/daf27a2b-litecoin_payment_currency_02.png" alt="litecoin cart size" width="1920" height="1080" srcset="https://wp-blog-assets.coingate.com/2019/07/daf27a2b-litecoin_payment_currency_02.png 1920w, https://wp-blog-assets.coingate.com/2019/07/daf27a2b-litecoin_payment_currency_02-300x169.png 300w, https://wp-blog-assets.coingate.com/2019/07/daf27a2b-litecoin_payment_currency_02-1024x576.png 1024w, https://wp-blog-assets.coingate.com/2019/07/daf27a2b-litecoin_payment_currency_02-150x84.png 150w, https://wp-blog-assets.coingate.com/2019/07/daf27a2b-litecoin_payment_currency_02-768x432.png 768w, https://wp-blog-assets.coingate.com/2019/07/daf27a2b-litecoin_payment_currency_02-1536x864.png 1536w" sizes="(max-width: 1920px) 100vw, 1920px" />
<h2>Do merchants keep Litecoin that they get?</h2>
It’s no secret that most merchants who accept cryptocurrency payments almost always convert the received funds to fiat currencies, primarily Euros. 
While in 2021, only 54% of merchants converted Litecoin to fiat, in 2022, this number rose to 70%, marking a 16% increase in a year. 
<img loading="lazy" class="aligncenter size-full wp-image-6641" src="https://wp-blog-assets.coingate.com/2019/07/bfcda1f3-litecoin_payment_currency_05.png" alt="litecoin settlements" width="1920" height="1080" srcset="https://wp-blog-assets.coingate.com/2019/07/bfcda1f3-litecoin_payment_currency_05.png 1920w, https://wp-blog-assets.coingate.com/2019/07/bfcda1f3-litecoin_payment_currency_05-300x169.png 300w, https://wp-blog-assets.coingate.com/2019/07/bfcda1f3-litecoin_payment_currency_05-1024x576.png 1024w, https://wp-blog-assets.coingate.com/2019/07/bfcda1f3-litecoin_payment_currency_05-150x84.png 150w, https://wp-blog-assets.coingate.com/2019/07/bfcda1f3-litecoin_payment_currency_05-768x432.png 768w, https://wp-blog-assets.coingate.com/2019/07/bfcda1f3-litecoin_payment_currency_05-1536x864.png 1536w" sizes="(max-width: 1920px) 100vw, 1920px" />
The rest of the 30% of merchants either convert Litecoin to other cryptocurrencies or just keep Litecoin. However, only 4% of those merchants choose to keep Litecoin in its original form, while 96% of merchants that do not take fiat currencies convert Litecoin to other cryptocurrencies.
It appears that this is not a trend exclusive to Litecoin. In 2022, 67% of all crypto orders were converted to fiat currencies, compared to 2021 with 54% and 2020 with 53%. It suggests that merchants are increasingly favoring fiat currencies over cryptocurrencies when getting paid.
<h2>What is the most popular Litecoin vendor?</h2>
Regarding most Litecoin payments processed, web hosting company <a href="https://www.hostg.xyz/aff_c?offer_id=6&amp;aff_id=124347" target="_blank" rel="noopener">Hostinger</a> takes the lead, accounting for 17% of total LTC payments made to our merchants in a given period. That is more than 15,000 unique LTC orders made by one merchant in one year. 
<img loading="lazy" class="aligncenter size-full wp-image-6642" src="https://wp-blog-assets.coingate.com/2019/07/782e6827-litecoin_payment_currency_04.png" alt="litecoin hostinger accepts crypto" width="1920" height="1080" srcset="https://wp-blog-assets.coingate.com/2019/07/782e6827-litecoin_payment_currency_04.png 1920w, https://wp-blog-assets.coingate.com/2019/07/782e6827-litecoin_payment_currency_04-300x169.png 300w, https://wp-blog-assets.coingate.com/2019/07/782e6827-litecoin_payment_currency_04-1024x576.png 1024w, https://wp-blog-assets.coingate.com/2019/07/782e6827-litecoin_payment_currency_04-150x84.png 150w, https://wp-blog-assets.coingate.com/2019/07/782e6827-litecoin_payment_currency_04-768x432.png 768w, https://wp-blog-assets.coingate.com/2019/07/782e6827-litecoin_payment_currency_04-1536x864.png 1536w" sizes="(max-width: 1920px) 100vw, 1920px" />
<h3>TL;DR</h3>
<ul>
<li style="font-weight: 400;" aria-level="1">In 2022, we processed 88,295 Litecoin payments, totaling 63,217 LTC.</li>
<li style="font-weight: 400;" aria-level="1">Payments in LTC account for 9.5% of total cryptocurrency payments made to CoinGate merchants.</li>
<li style="font-weight: 400;" aria-level="1">The best month of 2022 for Litecoin in terms of payment count was January with 8,971 paid orders.</li>
<li style="font-weight: 400;" aria-level="1">The largest Litecoin cart size in 2022 was 312.89 LTC, whereas the smallest cart was merely 0,0009 LTC. The current total average cart size is worth around $51 in LTC.</li>
<li style="font-weight: 400;" aria-level="1">70% of all merchants convert Litecoin to local fiat currency, whereas the remaining 30% of vendors choose settlements to other cryptocurrencies or keep Litecoin as it is.</li>
<li style="font-weight: 400;" aria-level="1">Our most popular vendor for LTC payments is a hosting provider Hostinger, accounting for 17% of total LTC payments received by CoinGate in 2022.</li>
</ul>
<h2>Why do people spend Litecoin?</h2>
Litecoin was founded in 2011 and is often called a lighter version of Bitcoin or the silver of cryptocurrencies. 
After more than ten years of perfect uptime and ever-increasing active wallet count, it’s safe to say that the network is not going into obscurity anytime soon. Quite the opposite – Litecoin is being used for online payments as much as it ever was.
There are a few notable reasons for it. First, Litecoin transaction fees are meager, making it a decent currency for online shopping, no matter the payment size. Currently, the average transaction cost revolves around a mere $0.0070 per transaction.
Secondly, Litecoin is fast as it takes only 2.5 minutes for miners to mine a block of transactions, compared to 10 minutes for the Bitcoin blockchain. 
These two reasons make Litecoin an excellent alternative to Bitcoin when shopping online, as the following numbers suggest.
However, Litecoin is only a tiny piece of the puzzle of what a CoinGate payment processor is and does. If you’re interested in a bigger picture of the cryptocurrency payments landscape, be sure to check out <a href="https://coingate.com/blog/post/crypto-payments-overview-2022" target="_blank" rel="noopener">this article</a> where we dive deep into the state of cryptocurrency payments in 2022.

Litecoin stands as the fourth most popular cryptocurrency for buying goods and services online.

Litecoin Payments Report 2022: Usage Metrics In eCommerce

We’re happy to announce our next big development which should be great news for merchants and shoppers alike!&nbsp;



<figure class="wp-block-image size-large is-style-default"><img loading="lazy" width="1024" height="530" src="https://wp-blog-assets.coingate.com/2023/02/6fd94de2-binance_chain_polygon_live_blog-1024x530.png" alt="binance smart chain and polygon on coingate" class="wp-image-6632" srcset="https://wp-blog-assets.coingate.com/2023/02/6fd94de2-binance_chain_polygon_live_blog-1024x530.png 1024w, https://wp-blog-assets.coingate.com/2023/02/6fd94de2-binance_chain_polygon_live_blog-300x155.png 300w, https://wp-blog-assets.coingate.com/2023/02/6fd94de2-binance_chain_polygon_live_blog-150x78.png 150w, https://wp-blog-assets.coingate.com/2023/02/6fd94de2-binance_chain_polygon_live_blog-768x397.png 768w, https://wp-blog-assets.coingate.com/2023/02/6fd94de2-binance_chain_polygon_live_blog-1536x794.png 1536w, https://wp-blog-assets.coingate.com/2023/02/6fd94de2-binance_chain_polygon_live_blog.png 1856w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://www.bnbchain.org/en" target="_blank" rel="noreferrer noopener">Binance Smart Chain</a> (BSC) and <a href="https://polygon.technology/" target="_blank" rel="noreferrer noopener">Polygon</a> (MATIC) are now added to the CoinGate invoice as network options for several coins. Both networks are enabled for CoinGate merchants by default.&nbsp;



First off, the addition of BSC support is a significant move that will benefit our merchants greatly and provide more means of payment to shoppers.



With cross-chain compatibility, lower gas fees, and faster block times, BSC will be a highly attractive network for anyone looking to spend cryptocurrencies at our <a href="https://coingate.com/stores" target="_blank" rel="noreferrer noopener">merchant stores</a>. Newly added BSC network supports BNB, BUSD, USDC, USDT and DAI payments.



The significance of Polygon (MATIC) Layer 2 implementation to our payment processing services is also major.&nbsp;



By integrating the Polygon network together with its native token MATIC, we invite shoppers to take advantage of this technology and benefit from its efficiency and cost-effectiveness when making payments through CoinGate invoices with ERC20 tokens. 



As a result of integration, Polygon network allows for MATIC, WBTC, USDC, USDT, BNB, BUSD and DAI payments.



To remind you, the Layer 2 solution is built on top of an Ethereum-compatible blockchain. It is designed to increase transaction speeds while reducing the cost of transactions.&nbsp;



Since it offers near-instant payments and improved scalability, it’s a no-brainer to have this technology do its magic for ERC20 tokens on our payment solution. The same goes for the BSC network and BEP20 tokens that go with it.&nbsp;



Also, more updates of such nature are coming soon. Keep an eye on it!

Binance Smart Chain (BSC) and Polygon networks are now enabled on the CoinGate invoice for shoppers to select when making payments.

Binance Smart Chain (BSC) & Polygon Payments Now Live | CoinGate

Binance Smart Chain (BSC) & Polygon Payments Now Live

Every person that spends time online leaves a digital footprint. However, the Internet is a dangerous place full of traps aimed to get access to people’s data, identities and finances, so a digital footprint might quickly become a liability. 



<figure class="wp-block-image size-large is-style-default"><img loading="lazy" width="1024" height="530" src="https://wp-blog-assets.coingate.com/2023/02/8d27f9aa-surfshark_casestudy_blog-1024x530.png" alt="surfshark case study" class="wp-image-6614" srcset="https://wp-blog-assets.coingate.com/2023/02/8d27f9aa-surfshark_casestudy_blog-1024x530.png 1024w, https://wp-blog-assets.coingate.com/2023/02/8d27f9aa-surfshark_casestudy_blog-300x155.png 300w, https://wp-blog-assets.coingate.com/2023/02/8d27f9aa-surfshark_casestudy_blog-150x78.png 150w, https://wp-blog-assets.coingate.com/2023/02/8d27f9aa-surfshark_casestudy_blog-768x397.png 768w, https://wp-blog-assets.coingate.com/2023/02/8d27f9aa-surfshark_casestudy_blog-1536x794.png 1536w, https://wp-blog-assets.coingate.com/2023/02/8d27f9aa-surfshark_casestudy_blog.png 1856w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Rightfully so, the security of online devices and rights (or means) to retain privacy remain crucial topics in today’s world that seem to never run out of steam.&nbsp;



The growing awareness of online dangers did not deter people from using the Internet but certainly made them a lot more careful and considerate when it comes to staying safe from hacking, tracking, phishing and even targeted advertising.&nbsp;



The most common safety practices used today include using anti-malware software, private search engines, browsing the Internet with the TOR network, having an alert system that identifies data leaks, and also safeguarding data and privacy behind a VPN service.



Coincidentally, people who care about their privacy also often prefer to transact in Bitcoin or other cryptocurrencies whenever possible. This unusual preference creates a tremendous opportunity for any IT company to capitalize on the opportunity by providing alternative means of payment, and especially if a business provides privacy-enhancing services.



<h2>How can Bitcoin help with retaining privacy online?</h2>



Bitcoin payments can help with privacy issues for anyone because paying in Bitcoin allows customers to make transactions without providing any personally identifiable information. 



<figure class="wp-block-image size-large is-style-default"><img loading="lazy" width="1024" height="530" src="https://wp-blog-assets.coingate.com/2023/02/77ff24c0-surfshark-casestudy-image-blog_01-1024x530.png" alt="bitcoin anonymous payments" class="wp-image-6615" srcset="https://wp-blog-assets.coingate.com/2023/02/77ff24c0-surfshark-casestudy-image-blog_01-1024x530.png 1024w, https://wp-blog-assets.coingate.com/2023/02/77ff24c0-surfshark-casestudy-image-blog_01-300x155.png 300w, https://wp-blog-assets.coingate.com/2023/02/77ff24c0-surfshark-casestudy-image-blog_01-150x78.png 150w, https://wp-blog-assets.coingate.com/2023/02/77ff24c0-surfshark-casestudy-image-blog_01-768x397.png 768w, https://wp-blog-assets.coingate.com/2023/02/77ff24c0-surfshark-casestudy-image-blog_01-1536x794.png 1536w, https://wp-blog-assets.coingate.com/2023/02/77ff24c0-surfshark-casestudy-image-blog_01.png 1856w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



With traditional payment methods, a customer’s name, address, and other personal information is typically attached to their transactions. This can make it easier for malicious actors to track their spending habits and potentially even steal their identity or financial information.



With Bitcoin payments, on the other hand, the customer only discloses a unique Bitcoin address, which is a string of letters and numbers that can be generated on a wallet app or website. This address can be used to send and receive Bitcoin without necessarily revealing any personal information. The same goes for most other cryptocurrencies.



Overall, the anonymity and security of Bitcoin payments makes them a good option for customers who want to go an extra mile to protect their personal information and keep their financial activities private from prying eyes.&nbsp;



The growing demand for unlikely payment methods also creates a strong incentive for certain businesses to adapt cryptocurrency payments and serve this somewhat niche clientele. 



<figure class="wp-block-image size-large is-style-default"><img loading="lazy" width="1024" height="530" src="https://wp-blog-assets.coingate.com/2023/02/638b8b9e-surfshark-casestudy-image-blog_02-1024x530.png" alt="anonymity in crypto" class="wp-image-6616" srcset="https://wp-blog-assets.coingate.com/2023/02/638b8b9e-surfshark-casestudy-image-blog_02-1024x530.png 1024w, https://wp-blog-assets.coingate.com/2023/02/638b8b9e-surfshark-casestudy-image-blog_02-300x155.png 300w, https://wp-blog-assets.coingate.com/2023/02/638b8b9e-surfshark-casestudy-image-blog_02-150x78.png 150w, https://wp-blog-assets.coingate.com/2023/02/638b8b9e-surfshark-casestudy-image-blog_02-768x397.png 768w, https://wp-blog-assets.coingate.com/2023/02/638b8b9e-surfshark-casestudy-image-blog_02-1536x794.png 1536w, https://wp-blog-assets.coingate.com/2023/02/638b8b9e-surfshark-casestudy-image-blog_02.png 1856w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



At least that’s the line of thinking at <a href="https://surfshark.com/" target="_blank" rel="noreferrer noopener">Surfshark</a>, the TOP 3 VPNs in the world that offers humanized security solutions, where a Financial Analyst, Donatas Strazdas, identified a certain type of customer who values the ability to pay with digital assets more than anything else: 



“There are groups of customers who cannot imagine their lives without privacy solutions. Such customers are particularly serious about the information trail they leave on the Internet, so paying with cryptocurrencies is almost the only acceptable way to pay.”



Worth noting that enhanced privacy is not the only reason many people choose to pay with Bitcoin as, in general, it’s getting widely popular as a monetary network–enough to significantly contribute to the success of a business.



<h2>Taking advantage of Bitcoin’s growing popularity</h2>



The significance of Bitcoin as a payment method skyrocketed over the past few years.&nbsp;



Today, according to on-chain data, Bitcoin has already become the dominant global monetary network: it was used to transfer more than $14 trillion in value by October 2022 alone, a staggering x7 more than two years prior, also surpassing VISA network’s annual transfer value. 



<figure class="wp-block-image size-large is-style-default"><img loading="lazy" width="1024" height="530" src="https://wp-blog-assets.coingate.com/2023/02/af4f3f55-surfshark-casestudy-image-blog_04-1024x530.png" alt="growing bitcoin transfer value" class="wp-image-6618" srcset="https://wp-blog-assets.coingate.com/2023/02/af4f3f55-surfshark-casestudy-image-blog_04-1024x530.png 1024w, https://wp-blog-assets.coingate.com/2023/02/af4f3f55-surfshark-casestudy-image-blog_04-300x155.png 300w, https://wp-blog-assets.coingate.com/2023/02/af4f3f55-surfshark-casestudy-image-blog_04-150x78.png 150w, https://wp-blog-assets.coingate.com/2023/02/af4f3f55-surfshark-casestudy-image-blog_04-768x397.png 768w, https://wp-blog-assets.coingate.com/2023/02/af4f3f55-surfshark-casestudy-image-blog_04-1536x794.png 1536w, https://wp-blog-assets.coingate.com/2023/02/af4f3f55-surfshark-casestudy-image-blog_04.png 1856w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



This particular trend doesn’t seem to have an ending in sight. As of July 2022, according to a <a href="https://www2.deloitte.com/content/dam/Deloitte/us/Documents/technology/us-cons-merchant-getting-ready-for-crypto.pdf" target="_blank" rel="noreferrer noopener">survey</a> conducted by Deloitte, 75% of US retailers plan to accept Bitcoin and other crypto payments within 2 years. Meanwhile, 85% of US retailers give high priority to enabling Bitcoin payments, as 83% of retailers expect consumer interest in digital currencies to increase over the next year.



It’s evident that more and more people find Bitcoin useful for everyday payments, and, keeping in mind the recent developments concerning Lightning Network, it’s unlikely that the growth in Bitcoin adoption will slow down in the coming years.&nbsp;



As previously mentioned, the overall intent of retailers suggests this is the best time for IT service providers, such as VPNs, hosting providers and similar, to step in and satisfy the growing demand by providing means of payment for their services to people that want or need it.&nbsp;



That includes those that seek more privacy or simply do not have access to a banking system to purchase these services–in other words, a segment of people that are most likely to become paying customers.



On top of it, the act of accepting Bitcoin and cryptocurrency payments brings other benefits to the table that contribute to a more efficient business operations, such as broader accessibility, lower fees, convenience of efficient transacting, and more.&nbsp;



Surfshark has been accepting cryptocurrency payments soon after its inception in 2018 up to this day, in that time producing results that should catch the eye of many forward-thinking businesses thinking of doing the same.



<h2>Role of innovative payment systems in the pursuit of excellence</h2>



In the case of Surfshark, the goal is to meet the highest quality standards demanded by customers, striving to be a versatile security solution that encompasses anti-malware software, private search engine, and data leak alert systems. But, to also become more accessible and inclusive, the solution was cryptocurrency payments.



“Some of our customers take care of their privacy on the Internet almost religiously, so paying with a decentralized and completely anonymous currency is one of the few acceptable ways to pay for services. To enable such users to use our product, we have decided to introduce cryptocurrency payments,” explained Donatas Strazdas.



<figure class="wp-block-image size-large is-style-default"><img loading="lazy" width="1024" height="530" src="https://wp-blog-assets.coingate.com/2023/02/cbcd192c-surfshark-casestudy-image-blog_05-1024x530.png" alt="surfshark accepts crypto" class="wp-image-6619" srcset="https://wp-blog-assets.coingate.com/2023/02/cbcd192c-surfshark-casestudy-image-blog_05-1024x530.png 1024w, https://wp-blog-assets.coingate.com/2023/02/cbcd192c-surfshark-casestudy-image-blog_05-300x155.png 300w, https://wp-blog-assets.coingate.com/2023/02/cbcd192c-surfshark-casestudy-image-blog_05-150x78.png 150w, https://wp-blog-assets.coingate.com/2023/02/cbcd192c-surfshark-casestudy-image-blog_05-768x397.png 768w, https://wp-blog-assets.coingate.com/2023/02/cbcd192c-surfshark-casestudy-image-blog_05-1536x794.png 1536w, https://wp-blog-assets.coingate.com/2023/02/cbcd192c-surfshark-casestudy-image-blog_05.png 1856w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Donatas also notes that a wide selection of coins is as important as speed, security, accessibility and convenience of services. However, these require an infrastructure that needs lots of time and resources to build, which is why instead a payment processor CoinGate was chosen to undertake the task.&nbsp;



Results of integrating cryptocurrency payments were positive on both Surfshark’s revenue and customer growth, and received some great responses from customers.&nbsp;



Notably, the implementation itself was fast and hassle-free due to well-kept documentation.&nbsp;



Donatas elaborates on the fact, saying that “in such a process, the supplier’s solution integration instructions become very important. We can only be glad that CoinGate paid a lot of attention to this and provided clear documentation that ensured that the process of implementing crypto payments was fast and smooth.”



<h2>Summary</h2>



We’ve discussed the importance of online privacy and how Bitcoin can help with that.&nbsp;



It is apparent that people who are concerned about their online privacy often prefer to use Bitcoin or other cryptocurrencies for transactions because they allow users to make payments without providing personally identifiable information. 



<figure class="wp-block-image size-large is-style-default"><img loading="lazy" width="1024" height="530" src="https://wp-blog-assets.coingate.com/2023/02/e06a9c9b-surfshark-casestudy-image-blog_03-1024x530.png" alt="privacy with crypto" class="wp-image-6620" srcset="https://wp-blog-assets.coingate.com/2023/02/e06a9c9b-surfshark-casestudy-image-blog_03-1024x530.png 1024w, https://wp-blog-assets.coingate.com/2023/02/e06a9c9b-surfshark-casestudy-image-blog_03-300x155.png 300w, https://wp-blog-assets.coingate.com/2023/02/e06a9c9b-surfshark-casestudy-image-blog_03-150x78.png 150w, https://wp-blog-assets.coingate.com/2023/02/e06a9c9b-surfshark-casestudy-image-blog_03-768x397.png 768w, https://wp-blog-assets.coingate.com/2023/02/e06a9c9b-surfshark-casestudy-image-blog_03-1536x794.png 1536w, https://wp-blog-assets.coingate.com/2023/02/e06a9c9b-surfshark-casestudy-image-blog_03.png 1856w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



This anonymity and security make Bitcoin and crypto payments a good option for people who want to protect their personal information and keep their financial activities private. In addition, the unbanked population also gets access to the services, bringing in more customers from around the world.



Overall, Bitcoin’s growing relevance has created opportunities for IT service providers like Surfshark to make their services more accessible to a wider audience, which turned out to be a right decision to make.

Attract customers who value their privacy or don’t have access to banking services with crypto payments.

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