Top Cryptos for Payments: XRP, Stellar (XLM), Litecoin (LTC), and Bitcoin Cash (BCH)

Exploring the leading cryptocurrencies designed for fast, affordable, and borderless payments — and how they aim to revolutionize the way we transact in the digital age.

Introduction: Why Payments Matter in Crypto

One of the earliest promises of cryptocurrency was to revolutionize the way people exchange value. Bitcoin’s whitepaper described it as a “peer-to-peer electronic cash system,” but as Bitcoin transitioned toward becoming digital gold, a new class of cryptocurrencies emerged to carry the payments torch.

Today, cryptocurrencies like XRP, Stellar (XLM), Litecoin (LTC), and Bitcoin Cash (BCH) are among the most widely discussed assets when it comes to payments. Each was designed to improve transaction speed, reduce costs, and expand financial inclusion. Together, they highlight the ongoing race to make digital money a reality for billions worldwide.

XRP: The Bridge for Global Payments

XRP, created by Ripple Labs in 2012, was specifically designed to facilitate fast, cross-border payments. Unlike Bitcoin, which relies on proof-of-work mining, XRP uses a consensus mechanism called the Ripple Protocol Consensus Algorithm (RPCA), enabling settlement in just a few seconds.

The vision behind XRP was to replace outdated and expensive banking systems like SWIFT. With XRP, banks and financial institutions can transfer money internationally in seconds instead of days, at a fraction of the cost.

Strengths of XRP include:

  • Settlement in 3–5 seconds per transaction
  • Transaction costs less than a fraction of a cent
  • Scalability: Up to 1,500 transactions per second
  • Strong focus on institutional adoption

Despite regulatory battles — especially its lawsuit with the U.S. SEC — XRP remains a leading payments coin with partnerships worldwide.

Stellar (XLM): Financial Inclusion for All

Stellar (XLM) was founded in 2014 by Jed McCaleb, a co-founder of Ripple. While Ripple focuses on institutions, Stellar was designed with a different mission: financial inclusion for individuals and underserved populations.

Stellar allows people to send money globally with minimal fees. Its technology connects payment providers, banks, and individuals, enabling low-cost remittances and microtransactions. Unlike Ripple, Stellar emphasizes empowering communities and individuals rather than targeting big banks.

Key features of Stellar:

  • Transaction finality in 3–5 seconds
  • Extremely low fees — fractions of a cent
  • Ability to issue stablecoins and fiat-backed assets on-chain
  • Focus on remittances and financial access for the unbanked

By building bridges between traditional finance and blockchain, Stellar continues to play a critical role in making global payments more inclusive and accessible.

Litecoin (LTC): The Silver to Bitcoin’s Gold

Launched in 2011 by Charlie Lee, Litecoin (LTC) was one of the first altcoins created to improve upon Bitcoin. Its tagline as the “silver to Bitcoin’s gold” reflects its focus on being a lightweight, fast, and cheap alternative for everyday payments.

Litecoin shares much of Bitcoin’s codebase but introduces key differences: a faster block generation time (2.5 minutes versus Bitcoin’s 10 minutes), and a supply cap of 84 million coins (compared to Bitcoin’s 21 million).

Advantages of Litecoin:

  • 4x faster block confirmation than Bitcoin
  • Low transaction fees suitable for small payments
  • Widespread merchant adoption over the years
  • A testing ground for new technologies like SegWit and the Lightning Network

While Litecoin is not as dominant as it once was, it remains one of the most recognized cryptocurrencies for payments and continues to hold a loyal community.

Bitcoin Cash (BCH): Returning to Bitcoin’s Roots

Bitcoin Cash (BCH) was born in 2017 as a hard fork of Bitcoin, sparked by disagreements within the community about how to scale the network. The BCH camp wanted larger block sizes to allow more transactions per block, making Bitcoin usable again as digital cash rather than just a store of value.

With block sizes up to 32MB (compared to Bitcoin’s 1MB), Bitcoin Cash can handle significantly more transactions per second. This makes it more suitable for payments, particularly in regions where Bitcoin’s higher fees and slower confirmations pose barriers.

Bitcoin Cash strengths:

  • Low-cost transactions compared to Bitcoin
  • Larger block sizes allow greater scalability
  • Focus on peer-to-peer, daily payments
  • Community-driven mission to preserve Bitcoin’s original intent as “electronic cash”

Though controversial and less widely adopted than BTC, Bitcoin Cash retains a strong niche as a payments coin, particularly in developing economies.

Comparing the Leaders: XRP, XLM, LTC, and BCH

Each of these cryptocurrencies tackles payments differently:

  • XRP: Institution-focused, designed for banks and cross-border settlements.
  • Stellar (XLM): Individual-focused, targeting financial inclusion and remittances.
  • Litecoin (LTC): Fast, low-cost alternative for everyday merchant payments.
  • Bitcoin Cash (BCH): Scalable version of Bitcoin aiming to restore its use as peer-to-peer cash.

While their goals overlap, their strategies and communities differ. Together, they represent the diversity of approaches within the payments niche of crypto.

Challenges Facing Payment Cryptos

Despite their advantages, payments-focused cryptocurrencies face challenges:

  • Regulation: XRP’s legal battle with the SEC highlights the uncertain regulatory landscape.
  • Competition: Stablecoins (like USDC and USDT) are increasingly used for payments, offering stability that volatile coins lack.
  • Adoption: Merchant acceptance remains limited compared to credit cards and fiat systems.
  • Technology: Layer 2 solutions on Bitcoin and Ethereum may compete directly with payment coins.

Overcoming these hurdles will be essential for XRP, Stellar, Litecoin, and Bitcoin Cash to remain relevant as payment solutions.

Conclusion: The Future of Crypto Payments

From Ripple’s partnerships with banks to Stellar’s focus on remittances, from Litecoin’s merchant adoption to Bitcoin Cash’s scalability push — these four cryptocurrencies have all made meaningful contributions to the evolution of blockchain-based payments.

Whether one coin emerges as the dominant payments leader, or whether multiple coexist to serve different markets, the competition is driving innovation that ultimately benefits users. As global adoption of crypto continues, payments coins will remain central to achieving the original vision of digital money: fast, cheap, and borderless transactions for everyone.