The rise of crypto casinos is gaining more momentum and 2022 will surely see crypto payments become the preferred method of funding online gaming. The level of convenience is just too good to ignore, we’re going to run through Litecoin as an online casino payment method.
Litecoin is one of the most popular digital currencies in the market, only behind Bitcoin and Ethereum. This crypto token is designed to provide fast, safe, and low-cost payments by leveraging blockchain technology. Litecoin is widely accepted across online casino operators and many other online merchants.
The fundamentals behind Litecoin make it an ideal choice for everyday transactions. The cryptocurrency does not erratically fluctuate in price like many other digital currencies. Moreover, the extremely low transaction fees, fast block times and rock-solid security technology trumps any fiat payment method.
You will find Litecoin on all reputable cryptocurrency exchanges and sending it over to your real money balance only takes a simple copy and paste of a unique transaction code.
Keep on reading to discover more about this digital currency.
Litecoin (LTC) is a peer-to-peer crypto payment option that was set up in 2011. The coin is based on the original Bitcoin source code, sharing many similarities to Bitcoin. The digital token offers faster and cheaper transactions than Bitcoin.
There is also a hard limit on the amount of Litecoin that will ever go into circulation, standing at 84 million. The coin uses proof-of-work mining to add new blocks to the blockchain, just like Bitcoin but much faster.
Like Bitcoin, Litecoin records all transactions on a public ledger, so the currency can operate a decentralised payment system that is free from government interference.
Litecoin is widely available on many top cryptocurrency exchanges, including Gemini, Binance and Coinbase.
Litecoin is one of the most favoured crypto payment solutions for online casino players. Here are some of the benefits:
Ultra-Secure: The digital currency is built on a secure proof-of-work blockchain network, which has never been breached.
Fast payments: All deposits and withdrawals are processed in just seconds on the blockchain; no manpower is required.
Access: Most people around the world can buy and own Litecoin and payments can be made globally without restrictions.
Anonymity: Using Litecoin to make payments means you do not have to provide any personal details for a KYC process.
Mobile service: You can send and receive Litecoin through your mobile device via many crypto exchange apps.
Low cost: The cost of making Litecoin transactions is extremely low, just a fraction of a penny.
You can follow the simple step-by-step instructions to get set up with Litecoin payments.
1. Sign up for a crypto exchange (like Binance, Coinbase, Crypto.com)
2. Fill out your personal information, including address
3. Verify your exchange account by phone, email, and government-issued ID
4. Fund your account using your debit or credit card
5. Exchange your funds for Litecoin
6. That’s it. You’re all set to make Litecoin transactions
You no longer need to wait days for your winnings to arrive or go through further delays with KYC (Know Your Customer) verification processes. Litecoin cuts out all the fuss and gives you no-nonsense deposits and withdrawals with lightning-fast transaction speeds, unprecedented security features and super low fees.
The benefit to using Litecoin is that there’s no need for a human to check and confirm the payment, this is all done in an instant on the blockchain ledger. Moreover, there is no government or administration monitoring your Litecoin transactions.
What’s more, there are many crypto-friendly casino sites that are creating promotional offers for players who prefer crypto deposits and withdrawals. These bonus offers are usually more generous because the casino operator prefers customers who fund their play through crypto payments, this is due to the low costs for the operator to accept the payment.
Moreover, you should always be extra careful when you make a Litecoin deposit or withdrawal, always make sure you use the correct transaction ID and always make sure you meet the minimum deposit and withdrawal amounts, or you’ll risk losing your funds.
If you’re new to making online casino payments through crypto, it’s worth checking out the bonus section to see if you can grab a crypto-friendly welcome bonus. Remember, you should always familiarise yourself with the bonus terms before committing to any bonus offer.
Making a deposit usually follows the below process:
The process of cashing out your funds is very similar to the deposit process. You will also receive your winnings back in Litecoin in no time at all, the most you’ll be waiting for is just a few hours, but often, it’s just a few minutes.
Here is the process of making a withdrawal using Litecoin.
The rise of casino crypto payments is no coincidence, the perks are just too good to ignore. The great thing about Litecoin and many other top digital currencies is that the speed of each transaction is near instant. You can fund your account and get your well-deserved winnings back into your account in just minutes. Additionally, the transactions will cost you next to nothing, to the point where it is unnoticeable.
Litecoin is a digital currency that only exists on the blockchain, so it can never go missing. You will never have to enter any sensitive banking information when making Litecoin transactions. In fact, there are some online casinos that allow you to play games completely anonymously, thanks to the convenience of crypto.
You should always keep your crypto funds safe and secure and the best way to do that is on a wallet. Your wallet will provide you with private keys which is your way to access your account should you ever lose your password. If you forget your password and lose your private keys then you will not be able to access your wallet, so always be sure to keep your private keys safe and make sure nobody else will have access to them. If someone finds your private keys, they can move your crypto funds.
A new world of crypto casinos is being born and we’re seeing plenty of exciting brands emerge. These Litecoin casinos take away all the long-winded processes and get you straight into the action without the fuss. The casino operators provide a quick and easy crypto payment process too, and if you’re ever in doubt, many will offer how-to guides to get you on your way.
You can also find crypto-friendly casino sites that offer slot games that utilise blockchain technology. These games guarantee fair play because the random number generator sits on the blockchain and cannot be tampered with, making it a provably fair casino game.
You can expect to find the best online casino games from the most respected game studios, with names like Pragmatic Play, Yggdrasil Gaming and Red Tiger hosted. Online casino players are more demanding than ever, so you can expect larger slot libraries with games reaching into the thousands.
Furthermore, all games are now created in mobile-friendly HTML5 technology, allowing you to enjoy all the slot and table excitement from your smartphone or tablet device.
You should only join an online casino site that is licensed and regulated by a reputable governing body. All casino operators on this site are trusted and hold reputable licenses.
If you’re new to cryptocurrencies and not sure what token to make transactions with, you can check out some other digital currency options.
Here are the best alternatives to this payment method:
Bitcoin: Bitcoin is the original digital currency that Litecoin is based off. This option has the security and speed to make for a great casino payment choice.
Tether: The Tether token is a stable coin and will always be the same value as the US dollar, so you don’t have to worry about crazy price fluctuations.
Ethereum: A popular choice amongst casino players, this digital currency offers rapid payments with unbreakable security.
Litecoin has established itself amongst the top crypto payment options, and it’s not hard to see why. This coin offers all the convenience of top cryptocurrencies without the volatile price movements. Although Litecoin does change in price, it’s as drastic as Bitcoin or Ethereum.
The digital currency has improved on Bitcoin’s technology, offering transaction speeds that are up to five times faster, with lower transaction costs too. What’s more, you can enjoy unrivalled privacy with Litecoin, with no verification needed and all transactions viewable on the ledger, minus any of your personal information.
1. Why should I use Litecoin?
Litecoin is a digital currency that has been designed for a streamlined transaction, with low costs, top-notch safety and privacy, and low costs.
2. Do Litecoin Casinos offer fast payouts?
Yes, you will never have to wait more than a few hours for your winnings to arrive in your account.
3. Can I get casino bonuses when paying via Litecoin?
You can find special crypto bonuses, but often these bonuses can only be claimed using Bitcoin. Always check the bonus terms to make sure if Litecoin is accepted on the Bitcoin bonus.
4. Are my details safe with Litecoin?
Yes, Litecoin is one of the safest payment options because you will never have to provide any personal details to make transactions.