What Is Litecoin?
Litecoin, styled LTC, is a type of cryptocurrency, which means that it exists in a digital format with no physical coins or bank notes available.
When it first debuted in 2011, Litecoin was practically a carbon copy of Bitcoin due to how similar the two cryptocurrencies are. Since the beginning, Litecoin has sought to address a number of issues that Bitcoin users had with the cryptocurrency, including transaction fees and the length of time it took for a transaction to be confirmed.
Similar to Bitcoin, Litecoin is decentralized and not controlled by any bank, government, organization, or company; instead, a network of computers (operated by verified users) verifies your transfers in real time. However, Litecoin functions almost exactly the same way as Bitcoin in terms of gambling.
Litecoin at Crypto Casinos
Online casinos that accept LTC as a payment method are known as Litecoin casinos.
Litecoin transactions are verified using blockchain technology, which creates a decentralized database that is accessible to all users. This makes it more difficult for hackers to steal your virtual currency or data and guarantees that all of your transactions are safe.
You can play a wide range of games at LTC casinos, just like at other cryptocurrency and online casinos, including video slots, poker, roulette, baccarat, blackjack, live dealer games, lotteries, bingo, keno, and dice games.
Don't worry too much if you're new to the exciting world of cryptocurrency gambling; in reality, the majority of them function very similarly to conventional online casinos.
Before you can begin playing when you sign up for an LTC casino, you must first register, provide some personal information, and make a deposit. On the website, there will also be bonuses and games arranged in a comparable manner. Additionally, it has the customary security measures in place, including a reliable license that enables it to operate lawfully.
However, one of the primary distinctions is that Litecoin-accepting casinos are still a relatively recent development. These cryptocurrency casinos occasionally disclose their software algorithms to demonstrate that everything is provably fair in an effort to combat the mistrust some people still have for cryptocurrencies. This is an unheard-of practice for the majority of traditional online casinos.
How To Buy Litecoin
Getting your hands on Litecoin tokens and putting them in a cryptocurrency wallet is the first step in engaging in Litecoin gambling.
But how does everything function? We look at how to buy Litecoin, where to store it, and how to use it in detail below.
You can add Litecoin to your portfolio using one of four main methods:
- You can receive the tokens as payment for an object or service.
- You can mine them yourself (requires the use of specific hardware, so it’s not available to everyone).
- You can get some for free through a Litecoin faucet (this is a website or app that pays you a small amount of Litecoin for completing a task, such as playing a game or completing a simple captcha).
- You can buy them from an exchange (Binance and Coinbase are great options).
The simplest method to obtain Litecoin is the fourth choice. You can purchase LTC tokens from the official Litecoin website just like you would an item from an online retailer, or you can purchase LTC tokens from an exchange using fiat money (such as EUR, USD, etc.), then transfer the funds to your Litecoin wallet.
Once you have bought cryptocurrencies, it's crucial to have a secure location to store them, and that's where cryptocurrency wallets play a vital role.
To ensure maximum security for your cryptocurrency, it is recommended to store it on a non-custodial hardware wallet where you maintain complete control over your private keys. Popular options for such wallets include Trezor and Ledger.
Litecoin Casino Bonuses
Most online casinos that accept LTC offer their customers generous bonuses. This is because paying the casino in a cryptocurrency rather than a fiat currency is less expensive and quicker. As a result, the savings are transferred to you in the form of bonus money, which you can use to play at the casino.
That sounds like a situation where both the casino and you will benefit!
One minor point, though: These bonuses aren't often listed as LTC casino no deposit bonuses or welcome bonuses for new players. This is so that players can play at the majority of casinos that accept Litecoin deposits by first exchanging their cryptocurrency for fiat money.
The casino will then be able to provide you with all of the customary casino bonuses, such as welcome bonuses, cashback, free spins, and no deposit bonuses.
How To Choose a Litecoin Casino
While having many options on the market can be beneficial, we also recognize that some of our readers may feel overawed by the sheer number of Litecoin casinos available and be unsure of how to choose the one that best suits their needs and budget.
Fear not; we're here to assist. Our team of professionals can attest that each of the Litecoin casinos listed on this page is reliable, legitimate, and secure.
Always play at regulated, trustworthy, and secure casinos if you want to gamble with litecoin. All the security features you'd typically look for in a typical casino, such as a respectable license, third-party certification, affiliations, and attentive customer service, should be considered.
This is important whenever you play real money casino games online, but it's even more crucial when it comes to cryptocurrency casinos because that's where scammers are more likely to be hiding.
And if you want to conduct your own research, make sure to check the following:
Licensing & Security
Check to see if the Litecoin casino you want to play at has a license from a reputable authority. A casino that has valid credentials means that it adheres to a set of rules that are ultimately designed to keep you safe. You are more likely to find support for Litecoin gambling at Curaçao casinos than UKGC casinos, Malta betting pages, Gibraltar betting pages, or Swedish casino websites.
One of the best ways to judge the reliability of your Litecoin casino is to test the customer service team's responsiveness by sending a message via any of their available channels, including email, phone, and live chat.
If possible, your preferred LTC casino should provide all of them around-the-clock so you can quickly address any problems with deposits, withdrawals, or casino account verification.
Always keep an eye out for crypto casinos that use provably fair software, which makes them the safest on the market by preventing both players and the casino from cheating at Litecoin games.
Numerous decentralized platforms, software, and blockchain technology are employed by provably fair Litecoin casinos. This means that since all the information is typically displayed in a transparent manner, you are free to check the RTP ratings and odds for each casino game.
This kind of extra security precaution is usually a sign that casinos value their patrons. The top LTC casinos in Europe and other regions also receive fairness certification from a third-party testing organization, like iTech Labs, GLI, or eCOGRA.
Only reputable and game providers with verifiable fairness are affiliated with a good casino. Think of it as the expression "tell me who your friends are" in the context of gambling.
These providers use RNG technology (Random Number Generator) to ensure fair and completely random odds for each spin in addition to developing fantastic new games that entice the senses. You can trust that this technology and the games' highest RTP scores are constant across the board because the online casino cannot alter them.
Evolution Gaming, NetEnt, Microgaming, Playtech, Blueprint, NOVOMATIC, Greentube, Pragmatic Play, Red Tiger Games, Wazdan, and Endorphina are just a few of the top software developers you can find.
Litecoin Casino Games
We'll get right to the point and respond to your most important query because we know you're here to start playing casino games using Litecoin: what kinds of casino games do Litecoin casinos offer?
All of these online casinos provide a comprehensive array of games that are commonly found in such establishments. You can find video slots, table games such as blackjack and roulette, video poker, baccarat, and craps in every one of them. On top of that, they also offer a diverse collection of other games like dice games, lotteries, bingo, keno, and live dealer casino games.
Making deposits and withdrawals with Litecoin is incredibly simple and quick, which is a great feature.
Even though setting up a transfer takes the same amount of time as using your credit card or e-wallet, Litecoin payments provide more security, quicker transaction times, and the chance for better bonuses.
Here is how it works:
Depositing With Litecoin
There are only a few simple steps you need to take to start Litecoin gambling:
How to Deposit
- Log in or sign up to an LTC casino.
- To make a deposit at the casino, go to the Cashier or Banking section and select the 'Deposits' option. From there, choose 'Litecoin' as your preferred payment method. Please note that this option may be located under 'Cryptocurrencies' or within the selection of cryptocurrency wallets, such as CoinsPaid.
- The casino will then give you its address, which is known as a public wallet number (PWN). This will be made up of jumbled-up letters and numbers. Make sure you copy this before the next step.
- Go to your cryptocurrency wallet and set up a transfer. Next, paste the PWN, input the amount of Litecoin you’d like to transfer, and confirm your transaction.
- If you have enough funds in your account, your transfer should be completed in around 20 minutes. Once credited, you can start playing casino games immediately.
Withdrawing With Litecoin
It's now time to withdraw your money, and we assure you that it will be just as simple:
How to Withdraw
- Go to the Cashier or Banking section of your LTC casino, and click on ‘Withdrawals’.
- Find ‘Litecoin’ on the list, keeping in mind it may be under ‘Cryptocurrencies’ or even cryptocurrency wallets. Click on it.
- Input the amount you’d like to withdraw followed by your public wallet number. Once done, confirm the withdrawal.
- Wait for the funds to come through. With Litecoin, this should happen within a few minutes, but, with some casinos, it can take up to 24 hours.
Pros & Cons of Litecoin Casinos
Advantages of Using Litecoin to Gamble
- Faster Withdrawals: The Litecoin network operates independently of any banks or organizations, relying instead on a decentralized network of computers. This network functions seamlessly regardless of the day or time, resulting in cryptocurrency transactions that are typically faster than those conducted via traditional payment methods.
- Better Bonuses: Cryptocurrency-enabled gambling websites have acknowledged the significant advantages of accepting digital currencies as payment. They have realized that it saves them considerable time and money. Consequently, LTC casinos such as mBit Casino or 7bit Casino are inclined to offer more substantial bonuses to users who sign up using digital currencies, as opposed to traditional fiat currencies.
- Lower Fees: The cost of transacting with LTC is significantly lower compared to most conventional payment methods and some other cryptocurrencies such as Bitcoin. Even though the difference in fees may seem insignificant, over time, it can accumulate into significant savings.
- Security: By using blockchain technology, which is one of the safest networks in the existence, you are actually adding an extra, heavy layer of security to those of the casino. This means that your money is even less likely to be stolen.
- Privacy: All Litecoin transactions are anonymous as they carry a public wallet number rather than your details. This doesn’t mean that authorities can’t find out it’s you, but for all intents and purposes, other people certainly won’t.
Disadvantages of Using Litecoin to Gamble
- Not Accepted at All Casinos: While the number of casinos that accept LTC is on the increase, they are still not a majority.
- Licensing: Some cryptocurrency casinos, including LTC gambling sites, are not properly licensed – meaning that by joining them you could be putting yourself and your money at risk. For that reason, it is imperative that you only join a casino that is reputable. We have done the research for you, and have listed numerous legal and licensed LTC casinos above.
- Loss of Value: Cryptocurrencies can be incredibly volatile, and their worth may fluctuate greatly from one day to another. This may lead some players to worry that what they are depositing may not be worth much for long.
Pros and Cons of Using Litecoin at a Glance
- Withdrawals tend to be faster
- Bonuses tend to be larger
- Lower fees than most other payment methods
- Better security
- Anonymous transactions
- Not accepted by all casinos
- Increased risk of joining an unlicensed casino
- LTC may lose value due to market changes
- Casinos may exchange LTC to fiat money
Summary – Is it Worth Playing at Litecoin Casinos?
Litecoin casinos will be right up your alley if what you're looking for is a less expensive, quicker, and confidential gambling experience that competes with traditional banking and Bitcoin transfers.
In 2023, there will be a growing number of authorized websites that offer Litecoin gambling. Many of them will let you connect directly to your wallet for quick deposits and withdrawals, and they won't pressure you to convert to fiat currency if you don't want to.
Last but not least, Litecoin casinos will give you access to all of your favorite traditional casino games, including live roulette and online slots.
What is Litecoin?
Litecoin is a form of digital currency that operates on a decentralized system, much like Bitcoin. However, unlike traditional fiat currencies such as EUR, USD, and GDP, it is not tied to any particular country or bank, and it lacks physical coins or banknotes.
What are the best Litecoin casinos 2023?
The best Litecoin casinos are those that accept Litecoin for deposits and withdrawals, have a licence from a trusted jurisdiction and are affiliated with good game developers.
How long does it take for withdrawals and deposits using Litecoin?
Litecoin transactions are processed in around 2.5 minutes on average and the maximum time is 20-30 minutes, which is half the time a Bitcoin transaction takes.
How does the Litecoin mechanism work?
Upon initiating a Litecoin payment through a cryptocurrency wallet, your distinct address and desired transfer amount are transmitted to a global network of computers. Each of these computers verifies that you possess sufficient funds and that they are registered under your name, before authorizing the transaction. The number of authenticators required varies among merchants, and as such, this verification process may need to be repeated up to 12 times.
How can I buy Litecoin?
Buying Litecoin is incredibly easy, and can be done either directly from the official website, from a number of cryptocurrency wallets or from cryptocurrency exchanges.
How do I set up a Litecoin account?
Establishing a Litecoin account is an easy process. All you need to do is choose a cryptocurrency wallet and purchase Litecoin using your debit or credit card. While certain cryptocurrencies may require verification, this procedure is typically fast and effortless.
Are there extra fees for using Litecoin?
Most LTC casinos do not impose any fees on players for depositing or withdrawing funds using Litecoin. However, you may incur low fees on your cryptocurrency wallet. Additionally, a few Litecoin casinos convert your LTC to fiat money, resulting in potential loss of funds due to exchange rates.
How much is 1 Litecoin?
At the time of writing, 1 Litecoin is equivalent to $178.16; €146.57; and £126.16. The value of Litecoin is constantly changing, so always check the latest figures.
What is Litecoin used for?
In essence, Litecoin is a currency just like any other, so most people use it to buy products or services or even gamble. Many people are also using Litecoin as an investment.
Can I still get my casino bonus when using Litecoin?
Many casinos that accept Litecoin offer their players typical bonuses found at online casinos. These bonuses may include sign-up bonuses, cashback rewards, free spins, reload bonuses, and no deposit bonuses. However, it is important to note that wagering requirements and minimum deposit terms may apply, so it's essential to pay attention to the fine print. When it comes to bonuses, most Litecoin casinos provide them in either fiat currency or BTC.
Do all UK casinos accept Litecoin?
Most online casinos in the UK do not currently support a wide range of cryptocurrencies. However, players from Europe and other regions can still find numerous options to select from, especially if they use a VPN.
Are Litecoin casinos legal?
It depends. The ones mentioned on this site have all been vetted and are confirmed to be legal and licensed, but there are some casinos out there which aren’t. As always, check the licence of the casino and read the reviews we and others have uploaded to make sure that you are joining a reputable casino.
Is Litecoin anonymous?
A more accurate terminology to employ is "pseudo-anonymous". Unlike conventional payment methods, Litecoin transactions do not reveal your personal information. However, as it operates on a public blockchain, all transactions are recorded and every wallet has a trackable transaction history.