Based in New York, eGifter has partnered with GoCoin to allow payments to be made in two more different forms of digital currencies. For here on forward, consumers of dogecoin and litecoin will be able to perform transaction on the online gift giving and receiving site.
By adding these two popular digital currencies on board, eGifter will only add to their ever growing popularity. Allowing digital currency users another outlet to spend their coins, currently, eGifter offers “eGifter cards” from approximately 200 major United States brands.
The CEO of eGifter, Tyler Roye said
“Using GoCoin we get a secure, fraud-free transaction at a cost of only 1% compared with over 2% for credit cards. Given the risks for online merchants relating to ‘card-not-present’ fraud, this is a very attractive alternative.”
Amongst the first companies to begin accepting bitcoin in 2013, eGifter is currently amongst the very few who are accepting dogecoin and litecoin.
eGifter and Gocoin
Steve Beauregard, founder and CEO of GoCoin expressed his optimism about this new addition.
“We are thrilled to see key merchants in the Bitcoin eco-system embrace the alt-coins and their unique communities. Together with eGifter, we are building bridges between retail shopping and digital currency communities,” he said.
Towards the end of March 2014, GoCoin added dogecoin and litecoin to their network.
This new partnership between eGifter and GoCoin allows eGifter to never have to touch digital currencies. Roye explained that GoCoin takes the digital coins and converts them into cash. He further stated by GoCoin doing this, it protects eGifter from the “fluctuations and other risks associated with taking cryptocurrencies as a payment option.”
Dogecoin and Litecoin
Dogecoin was first introduced on December 8, 2013 and has had a rapid initial coin production as compared to other digital currencies. By the end of 2014, it is approximated that there will 100 billion of these coins in circulation. By the end of 2015 another 5.2billion coins will be added to the then current supply and this trend will continue for every year after that. Over 65billion dogecoins have been mined so far.
Similar to bitcoin, litecoin is also a peer to peer digital currency but it was designed to be faster in performing transaction than bitcoin as one of its key features. The second largest digital currency according to market capitalization, litecoin is the “silver” to bitcoin’s “gold.”
While these digital currencies have the support of their respective communities, they have still not received the same amount of limelight that its contemporary, bitcoin, has. Nevertheless, there is speculation as to what will be the next emerging digital currency to take hold. Both eGifter and GoCoin seem to believe that it will be dogecoin and litecoin.
Image via eGifter.com