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In 2024, Litecoin (LTC) was found to be the most popular cryptocurrency for crypto payments. This altcoin was closely followed by Bitcoin and Ethereum, in second and third place. But it wasn’t just that Litecoin came out on top, 2024 was a bumper year for crypto transactions in general, as the total crypto transaction volume reached over $10.6 trillion, marking a 56% increase from 2023. Stablecoins also played a leading role in payments, with $8.5 trillion processed across 1.1 billion transactions in the second quarter alone. These numbers show just how much cryptocurrency is growing and being used for payments, a trend that shows signs of continuing into 2025.
In this article, we explore how and why Litecoin became the most popular cryptocurrency for crypto payments, why stablecoins are often another popular choice for crypto payments, and trends that suggest crypto payments are increasing further as we move into 2025.
Litecoin: The most popular cryptocurrency for crypto payments
Back in 2024, Litecoin became the go-to cryptocurrency for crypto payments in the world, surpassing Bitcoin and Ethereum. Its popularity can be largely attributed to Litecoin’s faster transaction speeds and lower fees, which makes it an ideal choice for consumers and businesses. It takes an average of 2.5 minutes to confirm a transaction, which is four times faster than Bitcoin, and transaction fees are usually less than $0.01, compared to Bitcoin’s often higher and more variable rates. This combination of factors have helped Litecoin slide into the top spot for choice in the digital payments space.
According to BitPay, in 2024, around 37% of all the cryptocurrency transactions they processed were made using Litecoin, which was ahead of Bitcoin and Ethereum. Retailers and businesses are increasingly choosing Litecoin for its stability and efficiency, especially in regions where digital asset transactions are becoming more common. In Latin America for example, and particularly in countries such as Brazil, which saw net imports of crypto assets increasing by 60.7% in the first three quarters of the year compared to the same period in 2023, totaling $12.9 billion and surpassing the previous year’s entire annual figure.
The increasing popularity of stablecoins for crypto payments
The use of stablecoins for crypto payments also surged in 2024, demonstrating increased adoption and trust in these digital assets. According to Coinbase, the stablecoin market settled more than $10.8T worth of transactions in 2023. In 2024, stablecoin transfers surpassed a staggering $27.6 trillion, overtaking Visa and Mastercard’s combined transaction volume. This surge in popularity for crypto payments demonstrates how this is not simply a shift in payment methods; it’s a complete reimagining of the flow of funds in an increasingly digitized world.
Major payment processors reported a significant rise in stablecoin transactions throughout 2024, with merchants favoring them for their predictability and low volatility. For many, the popularity of stablecoins lies in their ability to keep a steady value, given that they are pegged to real-world assets, such as USDT or USDC are to the U.S. dollar. This stability has made them particularly attractive in regions facing economic instability. In countries such as Argentina, which leads all of South America in its use of stablecoins, beyond payments and personal savings, remittances have become a vital source of income for many Argentine families, increasing by 25% in 2021, and again by 11% in 2022.
Crypto payments in 2025
According to recent data, the number of users in the crypto market is expected to reach 861.01 million users by 2025. As this number grows, crypto also continues to move beyond its utility as a mere investment class, as users embrace digital assets as a way to pay. Data suggests that by 2026, almost 20% of crypto owners will be using their funds for payments, up from 14.2% in 2024, marking a tangible shift to real-world utility.
As they do, ForumPay will continue to provide merchants with a wallet- and crypto-agnostic payment gateway to process these transactions, with zero volatility and seamless integration into existing workflows. Our solution allows merchants to accept crypto payments from their consumers and clients, while receiving their local fiat currency. Funds are converted instantly and displayed on the merchant’s ForumPay Dashboard, with next-day settlement, ensuring merchants can manage their cash flow efficiently without exposure to cryptocurrency price fluctuations.
For more on crypto trends, or to learn how to integrate crypto payments into your business’ workflow, visit www.forumpay.com, or get in touch with our sales team to discuss any questions you may have.
