Litecoin (LTC) is one of the most and still popular coins in crypto. It is one of the older altcoins in the market and a cousin of Bitcoin. Even though it is based on the same code as BTC, Litecoin uses larger blocks on its blockchain. Thus, LTC manages to achieve not only greater speeds but also fewer fees. One of the reasons that serve as a testament to Litecoin’s reliability is that it has been around as long as Bitcoin.
This longevity and reliability lead to some of the best Litecoin casinos in the market. To be honest, it comes as no surprise that LTC gambling is the third most popular option around. The super fast speed of transactions and the absence of third parties scrutinizing you is one of the quickest ways to onboard online crypto casinos. It is also one of the cheapest too. You pay minimal fees to execute a transaction with Litecoin. And these minimal fees can work wonders on your purchasing power.
Luckily, Litecoin is an abundant option in casinos. You will easily find options for your favourite slots, roulette and BlackJack plays. To make things even better, we have created a list of the Best Litecoin casinos. We filtered them for reliability, the number of games and withdrawal processing speed.
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Litecoin is a unique case of a cryptocurrency in casinos. What makes it unique is that considering the overall scarcity of casinos other than Bitcoin casinos, Litecoin ranks pretty high up. It arguably is the number three cryptocurrency in popularity as far as casinos are concerned. There are a lot of Litecoin casinos and this is excellent news for all players. Many people don’t realize that Litecoin may be better than Bitcoin or Ethereum in casinos, the two most popular options. That is because of its speed and cheap cost to use. The latter is incredibly unique. Because it essentially raises the value of your deposit.
To put it into comparison, consider the following. Indeed, most casinos do not charge any additional fees for a crypto deposit. But, the way crypto works, you do pay certain fees on your side whenever you make a transaction. So, in the case of Ethereum casinos, you have much more fees to pay compared to Litecoin. Such an Ethereum transaction would set you back approximately 30-50 dollars today. Whereas using an LTC casino, it would be just under 10 cents using an LTC casino.
As you can see, using Litecoin is much more beneficial for your bankroll. That is why Litecoin is such a good option. Out of the most popular coins in casinos, along with Ripple (XRP) casinos, it arguably features one of the lowest fees possible. This means you will not be throwing away your coin into transaction fees. Instead, you deposit the majority of your amount to the casino, this way maximizing your bankroll and bonus eligibility. We would pick LTC every day on this bargain.
We have said it before and we mention it again because it is a fact; Litecoin is an excellent option for gambling. There are many reasons you should be using a Litecoin Casino. Let’s go through them together.
As one of the older cryptocurrencies around, LTC has already gained enough adoption by online casinos. One could easily argue that these are the third most popular casino sites besides Bitcoin and Ethereum casinos. Consequently, you will not need to look hard to find a casino that accepts Litecoin.
The nature of all cryptocurrencies is synonymous with increased privacy. That is because there are no intermediaries between you and the casino that you deposit. Therefore, you are not subject to scrutiny by third parties, such as banks, to complete your deposit and start playing.
Casinos that accept Litecoin have reached a level in their services and games offered that match the ones in traditional casinos. From established and respected developers such as Playtech and even the cream of the crop like NetEnt.
Another trait cryptocurrencies have is the excellent speed in transactions. And remember, in crypto, you pay for every transaction. As a matter of fact, Litecoin is one of the fastest and most nimble cryptocurrencies out there. This agility that Litecoin has, hence the name, allows you to deposit even more money without wasting a large part of it in transactions.
Even with the current adoption of crypto in online casinos, there is still room to grow. Add to that the reduced cost to Litecoin casino operators from not having to pay intermediaries to handle payments; all this translates into crypto dedicated bonuses. Some casinos also offer fantastic VIP programs if you are a loyal player.
Like its older sibling, Bitcoin, Litecoin uses blockchain technology. This technology is an online digital ledger with copies in computers worldwide that keeps track of every transaction. And the best part, it is publicly accessible for anyone to see. Once you enter a transaction, it is forever engraved on the blockchain. It does not get more secure than this.
Which is perhaps one of the best features you get when playing games at a Litecoin casino. By using a complicated algorithm, casinos can easily demonstrate to players fairness in games. You no longer have to go through many hoops and audit firms in order to find out whether the game you played was fair. You just use the simple software that many of the best Litecoin casinos have and see for yourself. If you want to know more about provably fair casinos, have a look at our article.
Another fascinating thing with blockchain technology is that once you execute a transaction, it is irreversible. Then combine this with the lack of intermediaries. The result is you will never see your deposit get rejected at a casino that accepts Litecoin. Once you submit your transaction, it is guaranteed that it will go through.
Despite their explosive growth, cryptocurrencies are still at an early stage as an asset class. This means that there is a good chance that by simply holding onto your LTC gains from gaming, they will significantly rise in value in the following years.
There are, of course, some disadvantages of Litecoin gambling in casinos. Even though they are not many, they are nonetheless significant and you should consider them carefully. Cryptocurrencies are a peculiar beast. So it is best to be aware of any potential pitfalls because many of the disadvantages are related to the cryptocurrency part of any crypto casino.
We mentioned that cryptocurrencies are a new asset class. As with everything new, regulation has not been fully formed around them. But this does not mean that there will be none. Any potential future laws that lean harsh on cryptocurrencies most likely will affect the price and value of Litecoin and many other coins.
Another side effect of cryptocurrencies’ infancy is the violent swings in price. Crypto is a very new industry. And with every new industry comes volatility. The reason for this volatility is that the market has not yet decided on the fair value of this new asset class. Therefore, in the same way, you can have insane gains on your crypto overnight, it is not uncommon to wake up to a 40% decrease in your profits soon after that. You need to be prepared and expect such large swings in the value of your bankroll.
The blockchain may provide a certain degree of anonymity, but this is not guaranteed. If your true identity is somehow compromised and linked to your online cryptocurrency wallet, then everyone, including the authorities or unwanted parties, can know what you have been up to with your hard-earned cash.
As mentioned earlier, cryptocurrency transactions are irreversible. Therefore if you make a mistake when executing transactions, you could lose your funds forever. And since there are no intermediaries, there will be no one to help you retrieve your losses. Always make sure to triple-check the recipient’s address before confirming a transaction.
It is always easy to make a deposit in a casino but not always that easy to make a withdrawal. That being said, it is true for Litecoin gambling as well. Before depositing, always look for the fine print in withdrawals. For example, remember that even though you may not be asked to verify your personal information when depositing, you will be so upon your withdrawal. Completing this verification will most definitely cause your first withdrawal to take a little longer.
There is a rather steep learning curve when it comes to learning how to use cryptocurrencies. Even though it is not rocket science, you need to have a certain level of knowledge and be tech-savviness to purchase and store or even spend cryptocurrencies. You will also need to be meticulous with your processes and never skip a step. When interacting with crypto because mistakes will cost you dearly.
Litecoin Gambling Sites, casinos included, can be very safe. All you have to do is make sure you play in trusted ones. Now would be a good time to revisit our list we mentioned in the beginning. Also, any Best Litecoin Casino that has a Curacao license means that they are to a certain degree legitimate. They may not have the ironclad safety of a UKGC license and you should not put your blind trust in them just because of the license in case something goes wrong, but still, it is a positive feature. Finally, note that blockchain allows for transparency since everything is publicly accessible there. By now we are sure you are wondering about legality and taxes.
Even though legislation around Litecoin is not entirely clear, it should be ok, provided gambling is allowed in your region. That is because cryptocurrencies are mostly legal around the world, so as far as crypto is concerned, you have no issue. A good rule of thumb is that if the casino is accessible to your country and allows you to register, it’s probably ok to use it.
Taxes are also a mixed bag. Whether you pay or not is dependant on how gambling gains are taxed in your country. You should also consider any potential taxes on your Litecoin as capital gains. However, in most cases, if you do not cash out your Litecoin, you should be fine. Ultimately, the best thing you can do when in doubt is to consult a professional.
Understandably, you may find it challenging to start using online casinos, let alone crypto. But we have gathered all the essential steps you will need. However, before diving into them, let’s start with some basic information on Litecoin.
Litecoin (LTC) is a digital peer-to-peer asset, a cryptocurrency. LTC was created in 2011 by a former Google engineer named Charlie Lee. He was also a member of the original community surrounding Bitcoin. Seeking to improve Bitcoin’s features, namely its speed and processing power, Lee created Litecoin by making changes to the Bitcoin code. The result is a cryptocurrency that is nimble, faster and cheaper to use.
Lee and his team achieved this by changing the size of the blocks on the blockchain. Litecoin uses a larger block size, meaning it can store and process more transactions per second than Bitcoin. The result is a faster cryptocurrency and a network that requires fewer fees to use it. As it happens, Litecoin became one of the favourites and widely used cryptocurrencies in online gambling simply because of these characteristics; hence the abundance of Litecoin Casinos. Operators and players alike love to use Litecoin because it keeps the cost down for the former and maximizes the value of your coin for the latter.
But I am sure you are wondering how exactly do you go about purchasing Litecoin before depositing at a casino.
First, let’s go through the steps of acquiring some Litecoin. Then, how to make your deposits at a Litecoin casino. The steps are pretty straightforward. But you must be very vigilant when sending your Litecoin. Always triple-check the address you are sending your funds through. That is one of the most crucial parts when dealing with cryptocurrencies.
Once you are done playing your favourite slot or Roulette game, go to withdrawals. Using the same process as deposits but in reverse, send your gains back to your wallet. You can now store your LTC or sell it for fiat or other crypto at one of the trusted exchanges we mentioned earlier. You can also convert it to a stablecoin and avoid the volatility, while still holding crypto. A good example is Tether (USDT) casinos.
With casinos that accept Litecoin being an abundant option, there are several games to choose from. All your favourite games are there and then some. As we mentioned earlier, you will not be missing out on anything that traditional casinos have.
You can find slots of every kind. In our opinion, the most attractive aspect is that nowadays you find top-notch providers such as Microgaming, Evolution and Play n Go. There is also an excellent RTP in most Litecoin slots, which can level the playing field to your advantage and is always a welcomed feature.
Litecoin Poker is always an enjoyable addition. With the recent booming of cryptocurrencies, you will spend little time sitting at your favorite table. As for options, they lack none of the traditional casinos. You can equally enjoy Hold’em, Omaha, sit and go tournaments, all empowered with the blazing-fast speeds in withdrawals that Litecoin enables. There are even litecoin video poker options available for a more rich experience.
Roulette is easily one of the most popular games. You can find an impressive array of tables to choose from and start spinning immediately. Practically almost every online casino offers at least some variation of this classic game.
Dice is another classic game you can play in. You will find primarily craps as an option, but if you dig enough, you may find other variations as well. There is also a popular variation where you bet on the possible outcome of the dice. Your reward, in this case, is calculated against the probability of the outcome.
There could not be a reputable casino without at least some tables of BlackJack. In this classic game, you compete against the dealer, drawing cards until you reach 21 or you or the dealer go bust. All versions of Blackjack in Litecoin casinos are RTP with an almost nonexistent margin on behalf of the operator.
Casinos have always been one of the first adopters of new technologies and it has only served them well by adopting crypto. Costs are also down for them due to the lack of need for audit teams; the blockchain does this automatically. Provably fair games are finally possible and easy to check, which is a step towards transparency and fair play. In recent years, developers have been providing top-notch games with nothing to be jealous of traditional casinos. The whole concept and streamlined ease of use is something you will love, once you get accustomed to it.
Q: What are the payment limits for when using Litecoin in gambling?
A: Similar to all crypto deposit methods, Litecoin limits are reasonably generous. Usually, you can deposit a minimum of $0,50 value of Litecoin. As for the maximums, there usually is no limit mentioned in the deposit screen.
Q: What are the top reasons to use Litecoin for gambling at a casino?
A: The top reasons are speeds in withdrawals, lower minimum deposits, and a level of anonymity that you achieve using Litecoin as payment.
Q: Is gambling with Litecoin legal?
A: In most countries, yes. The question is whether gambling is allowed in your region or not. Litecoin and cryptocurrencies, in general, are legal in most parts of the world.
Q: Are there plenty of casinos that support Litecoin?
A: Yes, there are. Litecoin is one of the oldest cryptocurrencies around, even older than Ethereum, the number 2 cryptocurrency. As such, Litecoin is one of the most widespread crypto payment methods in gambling.
Q: Can I get a bonus at the casino for using Litecoin?
A: Not only can you get bonuses and promos at a casino using Litecoin, but most of them offer unique crypto dedicated offers. Do not forget to check about the wagering requirements, though, as well as for their VIP programs, which are usually very rewarding.