Litecoin (LTC) Gambling 2021 – Guide to Best Litecoin Casinos
The casino industry is the fastest at adopting new technologies hands down. Online casinos started processing payments in crypto before they became mainstream. Their fraud prevention technologies are second to those used by credit card companies. Because of the nature of cryptocurrencies, there is very low risk in accepting crypto payments. Thus, casinos have a lot to gain by integrating Litecoin and other altcoins into their payment systems. Aside from casinos, players benefit massively from using Litecoin too. The fees are very low, and the transactions are on-chain. For players, this means that they cannot be held up or frozen.
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What is a Litecoin?
Litecoin is a type of digital currency. It is the first and most well-known digital currency that showed how to make a digital purchase without having to go through an intermediary like PayPal.
The Litecoin network is public and open so nobody has administrative access to it, which means that anyone can participate in the network and produce blocks or send transactions. The limited divisibility of Litecoin means it acts as a peer-to-peer payment system within small communities or groups for services. The network being decentralized does not rely on any government or business for its existence. On the contrary, new coins are generated by “mining” which requires computers to solve complex mathematical equations and verify transactions made over the network to prevent double-spending. With substantial industry support, trade volume and liquidity, Litecoin now ranks fourth in cryptocurrency market capitalization
The Litecoin network is secured by individuals called miners who use their computers to process Litecoin transactions. In return for providing their processing power to verify transactions on the network, miners are awarded new Litecoins as well as transaction fees paid by users who use the Litecoin network.
What are Litecoin casinos?
Litecoin gambling is booming right now. This is partly due to the famous Lightning Network which is currently being tested on the Litecoin network. The Lightning Network will allow for instant transactions between LTC users as well as near-zero fees. This will allow for microtransactions and therefore much more usage of LTC in the modern online casino gambling sector.
How often is this list updated?
As new technology emerges, casinos are forced to change with the times. The online gambling industry is an ever-changing landscape, and it’s important for casinos to always be one step ahead of the game. To ensure we offer you the latest information on our list of the top online casinos Litecoin in 2021, we’ve scoured the internet for any news and updates on these brands. By doing this, we’re able to make sure that you’re always getting the freshest content on our site, so you can make an informed decision before signing up at a casino. This also ensures that we update our list on a regular basis, as new casinos enter the industry and offer exciting new features. This helps ensure your experience is as enjoyable as possible, and that we’re giving you the best advice possible.
How we review Litecoin casinos?
Our experts check that the website is using a valid SSL encryption. This ensures website traffic is encrypted, making it difficult for an outsider to intercept information related to money transfers made by or to the casino.
We look for a wide variety of games – this ensures every kind of player can find something they enjoy. Top-notch casinos usually feature more than 400 games in their collection. We also make certain that each game is developed by top software companies like NetEnt, Microgaming and Betsoft Gaming.
Games that can be played for free (in demo mode)
Free to play games mean that you can practise new strategies; risk free. We ensure that the casino offers free play so that players can try out new games. This is a great option for players who are new to online gambling and want to make sure they enjoy their time at a casino.
Trusted software developers
We look at the video game software from top developers – this ensures games are smooth and fun to play. We also make certain that these games have high payback percentages, meaning players have a higher chance of winning when they spin. We cross-check every game’s payback rate before adding it to our reviews list of casinos.
Welcome bonuses and offers for loyal players
Top casinos offer welcome bonuses when you deposit for the first time (the welcome bonus value). This bonus is often equal to 100% of your first deposit up to a certain amount – after that, the maximum bonus will be half of your deposit. We review casinos by calculating these possible welcome bonus values so you know what to expect if you ever decide to play there.
Average transaction processing time
Withdrawals at many casinos take several days or weeks because of the complicated verification process. To find casinos that have fast withdrawals, we give points for each withdrawal method and subtract points for each withdrawal method that takes 10 business days or more. Faster withdrawal methods include Neteller, Skrill and electronic wallets like PaySafeCard and Neosurf card. Bank transfers are normally the slowest modes of withdrawaing for online casinos
Finally, we make sure that casinos are optimized for the smaller screen, including tablets and smartphones. We test every page on the casino website to make sure every button and link is easy to reach.
Why Would Someone Play at A Litecoin Casino?
Since the advent of bitcoin casinos, many other cryptocurrency casinos have popped up and the newest to enter the arena is Litecoin Casino. Similar to Bitcoin, Litecoin has a lot of advantages for players that decide to gamble with this digital currency.
Let’s take a look at what you get:
Nobody likes to think about it, but there are actually things that are better about Litecoin casinos than traditional ones – primarily because they have lower fees and faster transactions! The best part is that these benefits apply in both directions: casinos for players or casinos for gamblers.
The primary benefit is the cost of transaction. With traditional casinos, it takes anywhere from a few seconds to a few days for transactions to be validated and for you to be able to continue playing at a casino, depending on how busy the network is. This can result in significant losses, especially if you have many transactions that occur during long rounds of play. At Litecoin casinos, you will experience no delays due to validation and your bets will go through almost instantly – allowing you to enjoy your game without having to wait for confirmation first!
Transactions made by Litecoin are anonymous, too. While you must register at a casino for verification purposes, your personal information is safe from prying eyes. There are no government agencies monitoring transactions to track down and identify players, either. At Litecoin casinos, your wagers are truly anonymous – just like traditional bitcoin casinos!
Litecoin transactions are also very fast, although you will still have to wait for about 2.5 minutes for your bets to be accepted with the recent increase in network traffic. While this may sound like a long time, it is actually a lot faster than traditional fiat transactions that can take anywhere from 10 minutes to several hours! There are plans being developed by the Litecoin development team to implement InstantX for instant confirmations whenever you want – another feature that would significantly benefit gamblers if implemented!
All the casinos we’ve featured have exclusive bonuses for players that make their first deposit using this cryptocurrency.
Making an Online Casino Deposit with Litecoin
Litecoin is a cryptocurrency which is similar to Bitcoin, but it trades at a lower price. Litecoin was created in 2011 as an alternative to Bitcoin because transactions are faster and cheaper when using Litecoin. In this section , we will show you how to log in and make a deposit at an online casino using Litecoin instead of other cryptocurrencies or fiat money.
- Choose a Litecoin Wallet
A wallet is where you store your Litecoins- this can be on your computer or on the internet with third party services like Coinbase.
To deposit at an online casino, you only need a Litecoin wallet. After you create your wallet, you can go to the next step and buy LTC at an exchange.
- Buy Litecoin at an Exchange
After creating your wallet, you can purchase Litecoins from an exchange. The most popular exchanges are BTC-e, CoinBase and BitStamp; however, there are many other options.
When you create an account at an exchange, it will require your bank account information and some other personal details. It is also important to have a strong password and enable 2-factor authentication in case your account is compromised. Remember to also write down your backup key somewhere safe in case you forget the password.
- Sign Up at an Online Casino
You can sign up with a nickname or your real name; however, it is recommended that you use a nickname because this will protect your identity and keep your information safe.
After signing up, you can go to the cashier page and make your first deposit. Go to the cashier page and you will see an option to enter your Litecoin address – this is how you will receive your money.
- Log In and Make a Deposit
After making a deposit, log in and start playing for real money! It is recommended that you play on casino games with high payouts to maximize your profit.
- Play for Real Money
The most popular online casino games which accept Litecoin deposits are poker, blackjack, and slots.
The Litecoin platform has been designed to provide faster processing times and lower transaction fees than the traditional Bitcoin protocol. This is achieved by implementing a shorter block generation time (2.5 minutes) and different proof-of-work algorithm (scrypt). This makes Litecoin ideal for frequent, small transactions that require minimal confirmations.
To withdraw your winnings to your Litecoin wallet, go to the cashier and click on Withdraw. Select Litecoin as the payout currency and enter your wallet address. You can then request a withdrawal which will be processed in about 2-30 minutes. This will depend on the number of confirmations required by the network.
Which games should I play at a Litecoin casino?
Playing at the right online casino is an important part of a beginner’s experience, and not just because it affects your bank balance. This set of games will give you the opportunity to familiarise yourself with some of the basic rules without getting too bogged down – you can move on to the more complex variations later on, or even put them off until next time! Make sure to ask about any game-specific skills that might be needed, but for now, here are my top four picks:
Slots – these are highly accessible and have a simple premise. You get three to five reels with images on them, and based on the order of the pictures you win or lose. You can set a bet amount per go, and this will affect the number of pay-lines that are activated. It’s worth noting that slots don’t have a house edge – in fact, they’re normally so-called because they have a low ‘house advantage’ which means that you can win more often than not!
Craps – craps is one of the most popular games in Vegas for good reason: it’s quick and easy to understand. Each player makes up their own mind about how much to bet, then throws two dice to determine your fate. The face on the dice that lands facing up will determine the value of your bet, while any other number, such as two or twelve, can count as either a one or a three. Some rolls are special, such as the twelve appearing as one or an eleven and two appearing together as a ‘craps’. (like poker) it’s a great place to pick up pointers about more complex strategy. It’s a very fast-paced game and each throw of the dice has to count, so it’s best to stick with small bets until you’re very confident.
Blackjack – there are many variants of blackjack but I’m going to describe basic strategy here. Your aim is to beat the dealer’s hand without going over 21 points. If you bust you lose automatically so make sure to keep track of your cards! You get dealt two cards while the dealer gets five – you can then take more cards if you want or stay where you are. Staying put is the easiest choice, but it depends on what your cards are and which way your luck is going.
Scratch card games – these are my favourite games of all time and they’re a great way to test your skill without risking too much. In each case the aim is to match three identical symbols. It’s easier than it sounds – try your luck with this classic example:
The rules are simple: you can play the cards in any order you choose, and you’ll always see if you win or lose after the last card is selected.
How to find the best Litecoin Casino
All great Litecoin casinos have one thing in common; they have the best customer service. This is not something that can be taken for granted: a good customer service team that is able to answer any question at any time of day from your customer’s perspective is an absolute must! It’s important to remember that cost shouldn’t be the only consideration when looking for a Litecoin Casino; it’s all about what features are most important to you as a player. The best casinos will have instant pay-outs, so that you never need to worry about whether your money will be paid or not. These kinds of casinos are the ones which will make you willing to come back again and again!
Another really important factor when it comes to choosing a casino is how easy they make it for you to play the game. We all love a game of blackjack or roulette, but there is absolutely no point in being able to play if the casino is so complicated that it puts you off! The best Litecoin Casinos will have a simple user interface which makes it easy for beginners to find their way around and understand how everything works.
Frequently asked questions
What’s the difference between real money and Litecoin online casinos?
A Litecoin casino doesn’t need to do KYC (Know Your Customer) verification, which means less customer data for them to store and manage. They are also more anonymous for customers because people can use their own privacy-preserving pseudonyms rather than personal information like credit cards or email addresses when betting at these casinos.
The currency of choice at cryptocurrency online casinos is Bitcoin, which functions as the ‘reserve’ currency for all other cryptocurrencies. The intent behind this is that players can play games in any of the currencies that are available, and still be able to cash out in bitcoins when they want to.
Bitcoin network is a public ledger, which means it’s easy to track transactions on the blockchain and discover information about their origin. However, bitcoin addresses usually have a lot of anonymity because they don’t usually reveal information about the owner like real world bank accounts do. This makes it harder for people trying to follow transactions on the blockchain but not impossible.
What is the minimum amount required for a withdrawal with Litecoins?
Most sites require you to have at least one-hundredth of a bitcoin (e.g. 0.01 BTC) or 100 Litecoins (eg: 1 LTC), as they do not offer change of smaller amounts than this such as fractions of bitcoins (0.0001 BTC) or Litecoins (0.01LTC). This is an industry-wide standard.
This article is a great introduction to how Litecoin transactions are verified and what Proof of Work is. The Litecoin network requires that each new transaction be verified double spend-proof. It does this by first checking against previous transactions between the sender and receiver to make sure you haven’t already spent your bitcoins on something else, preventing fraud in the form of a double spend attack.
Once the transaction has passed that first step, it gets broadcast out to all of the miners on the Litecoin network. The miners run software that performs the proof of work function to verify that bitcoins are not being duplicated. This is done by taking the information from the transaction, hashing it and performing a calculation on it, and seeing if the resulting hash meets certain requirements.
It’s worth noting that some digital currencies use different methods for making sure transactions are valid. Iota, for example only has one step in its process that involves verifying against past transactions.
Can I win actual Litecoins?
Yes, you can. These casinos offer LTC as the mode of payment for users to withdraw their winnings. You can keep these LTC on any of the popular wallets like Coinbase or Jaxx or alternatively trade them using an exchange site like Bittrex.
How can I deposit money into my Litecoin casino account?
Most Litecoin casinos require their players to go through some type of registration process before they can make any deposits or withdrawals. Even though these casinos usually state clearly what is required in order to activate a player’s account, it is still important to double-check with customer service before making any transactions. Clicking on the “Help” or “Support” link will usually bring up a list of frequently asked questions, which should be helpful if you are having any problems in this department.
Will I get a welcome bonus if I deposit using Litecoin?
Yes. Most casinos will offer a deposit bonus when you make your first deposit in Litecoin. For example, the casino might match your play-through requirements for a certain number of times, or it may give you free spins on a slot machine. All decent casinos have exclusive crypto-only bonuses. The casino will usually have a list of bonuses when you deposit Litecoin.