Learn more about Litecoin
Whether you’re new to online gambling or considering switching to Litecoin betting, you’ve come to the right place. This page looks at the popular cryptocurrency, Litecoin and the best crypto casinos and why you should consider using this payment method to fund your online casino account.
What is Litecoin?
Litecoin is an altcoin that was first released in October 2011. It is the brainchild of a former Google employee, Charlie Lee. The idea behind this altcoin was to bring crypto users a new coin that offers faster transaction times at cheaper transaction rates.
The LTC coin offers transaction times of about 2.5 minutes, which is much quicker than Bitcoin 10/30 minutes. With its speedy transactions, lower fees, and benefits of better security, it immediately became one of the more popular cryptocurrencies available in crypto casinos.
How to use Litecoin
Starting your online gaming journey using Litecoin is quite simple. The first thing you need to do is get your hands on Litecoin. If you’re a complete novice in cryptocurrency, we’ve got you covered. Look at these quick and easy steps to getting started with Litecoin and playing at Litecoin casinos online.
Step 1: Find a secure Litecoin casino site
You can choose one from our list of top recommended Litecoin sites on this page.
Step 2: Register your new player account
You can enter your details in the required fields as prompted.
Step 3: Purchase Litecoin
Now, it’s time to fund your account by purchasing Litecoin from a crypto exchange such as Binance and transferring the funds to your Litecoin casino wallet.
Step 4: Fund your account
Head to your Litecoin casino account cashier, choose to make a deposit, click on deposit and copy the Litecoin wallet address from the crypto exchange. The transaction takes only a few minutes.
Step 5: Start playing
Once you’ve credited your account with Litecoin, you can start playing the exciting range of games the site has to offer.
Litecoin Fees
When playing at Litecoin crypto casinos, you don’t have to fear additional charges. These sites don’t charge you extra for deposits or withdrawals using LTC over other currencies.
It’s important to note that using Litecoin does come with some fees, but the good news is that these costs are kept relatively low. These extra costs involve network fees for transfers, conversions, and other Litecoin-related activities. The amount will vary based on the network activity at the time.
Finding the best cryptocurrency wallet with the lowest additional fees is recommended, as many wallets tend to charge for transfers and conversions. In most cases, you’ll have tiny amounts charged on your payments when using Litecoin as a payment method.
Any payment method has benefits and drawbacks that can make it beneficial or an option to avoid. Take a look at the pros and cons Litecoin offers crypto casino users to see if this might be the payment solution for you:
- Faster Withdrawals. Instead of long waiting periods for withdrawals, you can have your funds in your account within a couple of minutes.
- Lower Fees. With Litecoin, the transaction fees are a fraction of what is charged on traditional payment methods and many other cryptocurrencies like Bitcoin.
- Extra Security. Litecoin uses blockchain technology, one of the safest networks ever created. By using this payment method, you add a layer of security to your online betting experience.
- Anonymity. The benefit of making transactions with Litecoin is they are done using a public Wallet number and not your personal information.
- It’s Volatile. An unfortunate side effect of cryptocurrencies is that they are incredibly volatile, meaning their value will rise and fall rapidly. This makes it a lot riskier than other, more stablecoins.
- Not Available at All Casinos. It’s not yet as broadly accepted as fiat currencies. You’ll need to look harder to find a Litecoin-friendly online casino. To help, we have prepared a helpful list of those casinos for you.