Cryptocurrencies are growing in popularity among fans of gambling. If previously these coins were perceived as an opportunity to make money due to its popularity, now they are already used more for payment transactions on the Internet. More and more often, gamblers are looking for online Litecoin casinos. Litecoin allows you to quickly, legally and securely fund your account with minimal fees.
Features of Litecoin Casinos
Litecoin is a decentralized electronic payment system that uses a cryptocurrency with the ticker symbol LTC to transfer assets. It was launched in October 2011 by a team led by Charles Lee as a result of a Bitcoin fork. It is based on the open-source code of the main cryptocurrency. The new coin was created in order to increase the speed of transaction confirmation and reduce fees.
How to Play with Litecoin?
To get access to the paid mode of gambling with LTC, you need to choose an operator and create a user account. The next step is to replenish the account. After that, the user will be able to play for money.
Registration
Litecoin casinos offer various options for opening an account on their websites or applications:
- Through filling out a detailed form with data. Users must specify the name, last name, age, gender, address.
- Through quick linking of the profile to an email or phone number. This method allows for a short time to create an account, make a deposit to the account, and move on to gambling for money. Profile data is filled out later, but before the first payout request is sent.
- Through an account in a social network or email service. In this case, just select the icon of the resource, and then log in. Information about the player will be pulled from the social network.
The player needs to be prepared for verification with the download of electronic versions of documents. Therefore, when registering it is necessary to enter your real data.
Account Replenishment
To make a deposit in online Litecoin casinos after authorization on the website the player will have to do the following actions:
- Go to the cashier of the operator.
- Choose the Litecoin cryptocurrency system among the available methods.
- Copy the wallet address or scan the QR code.
- Send the desired amount of coins. In addition to the wallet, you can use the services of cryptocurrency exchanges or exchangers.
Within a few minutes after the confirmation of the first block, the money will come to the account.
When making deposits, you need to keep an eye on the limits. Litecoin casinos indicate the minimum amount next to the cryptocurrency wallet address, below which the transaction will not be confirmed.
Withdrawal of Funds
To order money, the user needs to go to the cash desk. There you need to open the tab “Withdrawal” or “Get the winnings”. Next, it is necessary to:
- Select the method for Litecoin.
- Specify the amount within the limits set for the method.
- Insert the address of the wallet.
- Click on the button to confirm the payment.
After that, you have to wait until the financial department of the casino processes the application. The transfer itself takes about 15 minutes, during this time 6 blocks will be confirmed. Then the player can dispose of the funds at their discretion.
Advantages of Litecoin Casinos
Many online Litecoin casinos appreciated the merits of the cryptocurrency system and added it to the list of payment methods. The advantages of using LTC include:
High payment speed
Money arrives on the balance of the online casino after the confirmation of a single block.
Minimal amount of commission
The average fee for a transaction as of April 2021 was 0.025 USD. In this case, the sites do not charge a commission on the amount of the deposit.
Anonymity of transactions
Users do not need to additionally create an account in the payment system and identify themselves. Transfers are made anonymously. It is only theoretically possible to link a cryptocurrency wallet to a person. In most cases, it is necessary for the owner to indicate this him/herself.
Specifics of Operation of Litecoin Casinos
One of the most convenient features LTC casinos have is how quickly LTC are credited to the user’s casino account. Operators credit funds after the confirmation of the first block. On average, it takes 2.5 minutes. Apart from that, a relatively small fee for transfers to Litecoin is required. The average transaction fee is 0.025 USD regardless of the amount of LTC coins.
When it comes to depositing money to Litecoin casinos, operators usually do not set a cap on the upper limit. However, the minimum amount at which transactions will not be confirmed is specified on the site. In order to find the wallet address to transfer Litecoin, the player needs to go to the cashier’s desk and select the appropriate payment method. The page will show the address.
The winnings at Litecoin casinos are paid to the client very quickly. Each Litecoin online casino has its own financial service schedule. However, once the application is approved, it will take no more than 15 minutes to transfer the money to the user’s wallet (confirmation of 6 blocks). After that, the cryptocurrency becomes available to the player without restrictions.
FAQ
How much is 1 Litecoin?
Today’s Litecoin price is $100.33 USD, with $555,091,224 USD in 24-hour trading volume. With a live market cap of $7,044,388,393 USD, CoinMarketCap now ranks #22. There are 70,210,231 LTC coins in circulation, with a maximum supply of 84,000,000 LTC coins.
How long does it take for withdrawals and deposits using Litecoin?
Due to the fact that Litecoin transactions are not controlled by any authorities, the processing of deposits in this currency is almost instantaneous. After the funds are credited to your gaming account, all you have to do is go to the selection of games and make your choice.
The withdrawal speed of online casinos varies. Some sites provide very quick withdrawals, while others may take several hours to process your cash, which isn’t awful either.
What is critical, though, is that cryptocurrencies reduce the payment system’s waiting time. When using bank wires, for example, you can expect to wait 3 to 5 business days for the funds to appear in your account. When you use crypto, money will be at your disposal in minutes after the transaction has received the appropriate blockchain confirmations.
How can I buy Litecoin to play at a casino?
You can purchase LTC using a variety of fiat currencies. Here are a few exchanges where you may buy LTC with US dollars:
Gemini
Kraken
Coinbase
The purchase itself is quite straightforward. It is worth mentioning that after making an exchange, opening an account and buying litecoins, don’t forget to transfer Litecoins from the exchange to your personal wallet – never leave coins on the exchange, it can be hacked or closed.
How do I set up a Litecoin account?
Once you are on the exchange site of your choice, look for the “Get started” or “Create an account” button. Then you will need to provide the necessary information: your first name, last name, email address, and password. You will also be asked to confirm that you are of legal age and agree to the User Agreement or the Privacy Policy.
Are there extra fees for using Litecoin?
Although there are some costs associated with Litecoin, they are rather modest. As with any cryptocurrency that uses Blockchain technology to perform transactions, there are network fees that change depending on how active the network is at any particular moment.
Other fees may be levied by your cryptocurrency wallet (typically a percentage of the amount being transferred) or by online casinos converting your Litecoin to a fiat currency.
Can I still get my casino bonus when using Litecoin?
Definitely. You may take full advantage of anything from welcome bonuses to deposit and no deposit bonus deals to free spins.
Do all casinos accept Litecoin?
Today, Litecoins are accepted by a number of reputable online casinos for deposits and withdrawals.
Are Litecoin casinos legal?
Some of the casinos that provide Litecoin games have been investigated and proved to be legitimate and regulated, while others have not. To guarantee that you are joining a reliable casino, check the casino’s license and read the reviews.