Litecoin (LTC) is a fork of Bitcoin created in 2011. It is a peer-to-peer Internet currency, which includes almost zero-cost payments to anywhere in the world. The wallet software is distributed with open source so anyone can check the principles of its operation. If Bitcoin is “electronic gold”, then Litecoin is “electronic silver”. The coin corrected some of the shortcomings of its predecessor and behaves stably at the moment. One of the advantages of Litecoin over Bitcoin is easier conditions for mining. There can be 84 000 000 LTC in the network, which is 4 times more than the maximum number of BTCs. The project team does everything possible for LTC to cope with the mission of fast and convenient transactions. Litecoin has the ability to conduct atomic cross-transactions (with other crypto-currencies) and activated Segwit.
Deposit and withdrawal method
In order to start implementing Litecoin Casino deposit, you must have a special wallet. As is the case with many other cryptocurrencies, the most convenient and suitable way for beginners is to use the online wallet. Variants of such services are Rahakott, Cryptonator, LiteVault, Block.io. All of them have a convenient and intuitive interface. Registration takes no more than 5 minutes and you can start. You can use crypto exchanges, but it is not safe to store cryptocurrency in them. You can buy Litecoin in the Online-exchanger. You can buy any quantity of LTC or any part of it, for example, 0.5 or 0.1 LTC.
The variant of Litecoin storage for more advanced users is the desktop wallet. To do this, you can use Electrum-LTC or Exodus. Both clients can be downloaded on official websites: electrum-LTC and Exodus.io. As a fact Exodus is a universal wallet with the support of various cryptocurrencies and the possibility of internal exchange. It is a convenient option for investors, traders. It is also suitable for simple storage of cryptocurrency. Previous versions did not require the download of a whole blockchain. Litecoin Core requires this and has a more complex installation process and interface; however, it also has more possibilities.
Lovers of comfort and control with a smartphone can download a special application, for example, Jaxx. It supports not only Litecoin but also other crypto-currencies. Go to Google Play Market or AppStore to find and download this app. You can also make Litecoin casino deposit using LoafWallet which works only with LTC.
Once you have a wallet, go to one of the online casinos that accept Litecoin and select the currency as a payment method. After the required actions and confirmation, you are sure to be surprised by the speed of funds transfer.
The blockchain system works without problems and is very reliable. If you notice any deviations or just have questions, you can contact the support team of your wallet. Online Litecoin storage services have all the contact information on their website in the corresponding section. The speed of response depends on the employees of the wallet. Desktop wallets and mobile Litecoin storage applications have their official websites. There you can find contact information for communication.
Also, it is worth remembering that sometimes, especially in the case of desktop Litecoin wallets, the problem can be with your computer or Internet connection. Contact your Internet Service Provider, or contact the service for repairing the device.
Advantages and disadvantages
Litecoin is an alternative to the most popular cryptocurrency in the world, Bitcoin. This fact already says a lot. Initially, let’s look at the main advantages of cryptocurrency in general. First of all, it is anonymity; you must give your data nowhere. Fans of online casinos know how long the transactions go, especially in the case of money withdrawal. The transfer of funds occurs almost instantaneously with the help of Litecoin and the similar ones. Also, it worth remembering that the funds’ storage in the form of cryptocurrency is available in every country.
The features of Litecoin are an open source code and the use of a global payment network of a decentralized type with no control of any of the authorities, blockchain. This system provides reliable protection against intruders and allows users to independently manage their own funds. Litecoin also shows calm behavior in the market. The number of blocks is limited; therefore the currency has a small probability of collapsing.
The main drawback is that the currency is not as popular as its predecessor. At the moment there are much fewer online casinos that accept Litecoin than in the case of Bitcoin. The difference is not so critical; in addition, most of them have good reviews and reputation. Over time, the number of Litecoin Online Casinos will increase.
- fast transactions;
- use of the most secure network, blockchain;
- available worldwide;
- stability in the market;
- the number of blocks is limited;
- a small probability of collapsing.
- still not as popular as Bitcoin.
How to protect your money from the actions of intruders? This issue is the most relevant when we dealing with any cryptocurrency. The adherence of the Litecoin network excludes the interference of any outside structures. All operations are transparent, and any fraud attempts are recognized by the system at the first stages of the transaction. The probability of hacking is almost equal to 0. Hackers will need huge knowledge and computational power, which is thousands of times greater than the characteristics of an ever-created technique.
Casinos that accept Litecoin
To find the Litecoin Casino is still a little bit difficult at the moment. However, sites with a good reputation are available and there are not a few of them.
Let’s start with BitStarz Casino. Many authoritative resources put it in the tops of the best sites; therefore, it deservedly can be called one of the best Litecoin Online Casinos. To get acquainted with the games, it offers 25 free spins. Each player receives a 110% bonus up to € 100 of the first deposit.
Fortune Jack Casino also accepts Litecoin and has a huge range of games. It was created in 2014 and belongs to Nexus Group Enterprises Casinos. Live casino with professional dealers is a favorite place for the majority of players. The site regularly encourages users with new promotions.
Betchan is another well-known Litecoin casino that has slots, table games, video poker, live casino, etc. It opened and began to develop actively in 2015. The license for conducting gambling activities is issued by the Curacao Gambling Commission. The site offers a 150% bonus of the first deposit and 40 free spins. Its affiliate casino is Bob and PlayAmo Casinos, also famous Litecoin Online Casinos. Both offer a 100% deposit bonus and 100 free spins.
Alternatives To Litecoin For Funding Online Casino Accounts
The main alternative to Litecoin is Bitcoin. It is more popular and, accordingly, is the method of payment in most of the cryptocurrency casinos. Unlike most cryptocurrency, its purpose is to pay for Internet services and goods. Despite the shortcomings, many continue to keep their savings in this currency. Also, the worthy option is the other representatives of the cryptocurrency such as Ethereum, Monero, ReddCoin, Dash, and others. However, it should be taken into account that the transition from Litecoin to another currency may not always be rational.
Litecoin is an excellent cryptocurrency that has a lot of advantages. It is perfect for paying for purchases and services. However, at the moment the range of Litecoin Online Casinos does not have many representatives. Many experts predict the growth of popularity by 2020. Accordingly, the number of such casinos will increase within 2 years. Bitcoin is a more convenient cryptocurrency for players at the moment; Ethereum takes second place.
- What are the features of Litecoin?The creators of LTC position the coin as a convenient payment instrument, highlighting the speed of transactions. The currency has a limit of 84,000,000 LTC, which many consider a good option.
- What is the difference between Litecoin and Bitcoin?Despite the fact that Litecoin was created as a prototype of Bitcoin currency, this digital unit has a number of differences that allow it to get out of the shadow of the leader and draw attention to itself. The speed of computation generation is much higher. This process takes about 10 minutes for bitcoins, and this time is reduced fourfold in the Litecoin network. Litecoin has a larger release limit. Litecoin is also considered a more successful and perspective currency for mining. According to forecasts for 2020, emission of all Litecoin coins in the amount of 75% is planned.
- Which wallet is the best for Litecoin casino deposits?Absolutely any wallet is suitable; you just must have an address. You must rely more on your desires and convenience. The fastest way for beginners is online wallets. The most reliable option is downloading desktop wallets with storage of your Litecoin directly on your computer’s hard drive. Many recommend giving preference to the official wallet, Litecoin-Core. There are also paper wallets, mobile applications, and physical media.
- Why is cryptocurrency more reliable than ordinary world currencies?Saving is risks in any currency. However, if you keep your funds in the form of a cryptocurrency, the chances are minimal. The system of storage and transmission of cryptocurrency is maximally protected from hacking. Also, thanks to anonymous transactions, no one can know your personal data. Another argument is the stability of the Litecoin and similar ones in the market. This is possible due to the unique factors of each cryptocurrency.
- What is the difference between Litecoin and Ethereum?Both currencies have their advantages. Since Litecoin is more similar to Bitcoin, it is better suited for paying for purchases or deposit in a casino. Ethereum is also possible for these purposes, but its main feature, smart contracts, is not implemented in many areas at the moment. Both cryptocurrencies are the same in terms of popularity.
- How to exchange Litecoin for other currencies?It’s easy to do in any exchanger. You can exchange Litecoin for any real currency (dollar, euro, pounds, etc.) or another virtual one. Some wallets have a built-in crypto exchanger function. You can also use the services of intermediaries; this service may have an additional commission.