After Bitcoin, Litecoin was the 2nd popular cryptocurrency but Ethereum took the cryptocoin world and swapped the second position. Today, Litecoin is in 3rd place yet not bad because it has a stable reputation in terms of image – a silver coin decorated with the letter ‘L’. People are getting interested in cryptocurrencies, so is the number of online Litecoin casinos.
How is Litecoin unique from Bitcoin?
Before you look for ways to earn and spend litecoin try to gain more knowledge about having fun and satisfaction as well as earn some LTC. Litecoin is actually a bitcoin blockchains fork. It gained community acceptance because of Google employee Charlie Lee. Even though there are technical similarities, both Bitcoin and Litecoin have their differences.
- Transaction processing takes 2.5 minutes, which is 4X faster than the average result of Bitcoin.
- LTC has an algorithmic limitation of 84 million coins, while BTC’s maximum ends at 21 million coins.
- Litecoin is less accountable to double-spending attacks because its transfer speed is much faster than BTC.
- Innovative technologies – Lighting network and segregated witness is activated in Litecoin system.
- Litecoin uses Scrypt algorithm, which complicates mining on devices like FPGA, ASIC, and GPU yet CPU users find it easy.
The smallest fraction of one Bitcoin is called ‘Satoshi’ as it was created by Satoshi Nakamoto. The one-millionth part of a smaller brother of Bitcoin is called ‘Litoshi’. Litecoins can be got from popular cryptocurrency exchanges. The rate of 1 LTC is escalating, so if you don’t have a Litcoin wallet, consider having one. On Bitcoin 2 Litecoin blog, you can read a lot of litecoin reviews.
Benefits and opportunities using Litecoin in gambling
Gamblers can gain impressive benefits by choosing Litecoin as their payment mode at online casinos.
- Enjoy anonymous gambling – Personal information is not collected because money transfers need an exclusive wallet address. The gambling platforms never ask for sensitive information or IDs.
- Speedy transaction – Money transfer using traditional ways cause delays but with Litecoin your progress instantly.
- No transaction fees – Unlike banks or other financial institutions, there are no charges on transfers. Just think of a better way to use the savings. There are no-deposit LTC casinos that allow players to try their skills before entering the gambling arena and spend real money on online entertainment.
- Provably fair – Blockchain network allows the users to check after each spin and hand. So, players can expect a provably fair game using LTC.
Besides, online casinos Litecoin have also entered the sports betting arena. Sports fans adore wagering match and competition results using cryptocurrency.
How to buy LTC and use it for gambling?
Open LTC wallet
The wallet will be used to buy, store, and pay with cryptocurrencies including Litecoin. Look for a wallet that suits your needs.
Validate personal information
To open a wallet account, you will need to validate personal information including banking. It is an important step because after this you are going to enter an anonymous world. It is a good solution for those who desire to protect their sensitive data as well as hide their gambling transactions.
Buy some LTC
After setting up a wallet, you are prepared to fund it. It is simple to buy Litecoin. Search for it within the wallet. It is almost like the traditional stock exchange. Litecoin’s current price will be revealed. Litecoin trade is an ongoing process on a stock exchange, so the coin value will consistently fluctuate.
Choose the LTC amount you desire to purchase. With some clicks, you will see your wallet account updated. It depends on the chosen funding method. There may be limitations on how much coin amount to buy daily or in one transaction. However, you are all prepared to progress to an online casino.
Choose an LTC casino site
Multiple gambling platforms offer LTC payment modes but do some research to find a suitable site. Equipped with proper knowledge, you can confidently determine a gambling site.
Connect LTC wallet with the gaming account
It sounds complicated but in reality, you can do it in a couple of clicks. From the gambling site’s cashier section, you can link LTC payment by entering your wallet address. A unique ID will confirm the LTC balance in your wallet and allow transferring funds to the chosen gaming site.
Reasons why not to use credit/debit cards but LTC for gambling
- Bonuses – Cryptocurrency payment mode is cheaper for online casinos, so they pass their savings to customers in different forms of bonuses. Players choosing LTC are offered double the standard deposit bonus on several sites.
- Free spins – Litecoin casinos offer new members free spins besides the deposit bonus. Players can even enjoy free spins on some casinos with a no-deposit policy but check the wagering requirements.
- Security – Cryptocurrency is a decentralized and anonymous mode of payment, so the chances of personal information getting compromised are negligible. Besides the privacy angle, players are confident that their sensitive details will not get breached or hacked.
- Low fees – Withdrawal charges are low or zero for LTC payouts in comparison to checks or wire transfers.
- Speedy withdrawal process – LTC transaction limitation is the network speed for processing. There are no mail, bank, or courier services involved. You acquire your funds instantly without any delays like in traditional payment modes.
- Litecoin game options – The common and most preferred games include blackjack, dice, lottery, poker, roulette, and slots.
Freeway to get Litecoins
If gambling is not your thing then you can get free Litecoins using reliable faucets. It is software or a website that offers free LTC for completing surveys, captchas, playing simple games, or watching ads. After you complete the tasks you are rewarded with a few litoshi.
There are multiple LTC faucets but ensure to choose a legit one. Faucet earning is actually small but if you desire to earn more than cloud mining is a good option. However, you need to be technically smart to handle the mining software.
Litecoin is around for several years and is evolving impressively. It is expected that digital currency is the futuristic payment mode.