Best Litecoin Online Casinos 2024
Playing online casino games using fiat currency is one thing, but using digital currencies such as Litecoin is a totally different ballgame. This is why every player should consider visiting Litecoin casinos and other platforms, in general, that support digital currencies. Transacting using Litecoin might seem challenging at first, but learning the basics will greatly simplify the overall user experience.
This guide to Litecoin casinos will take you through the whole process of purchasing this digital currency. Learn how you can deposit Litecoin into and withdraw it from your casino account. You’ll also discover the advantages of making a deposit and withdrawing your winnings using Litecoin. Is it safe to transact using Litecoin? And are there any fees associated with the currency? Read on to the end to get all your answers. Plus, you’ll also discover some of the best Litecoin casinos on the internet. These brands have been vetted and hand-picked by experts in the iGaming industry after undergoing rigorous scrutiny in different areas that directly affect your gaming experience.
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Litecoin facts
| ✅ Name | Litecoin |
| 📊 Category | Crypto |
| 🌍 Geo | Worldwide |
| 💱Currency | LTC |
| 🌐Site | https://litecoin.org/ |
| 📅 Established | 2011 |
| 👨💻 Support | [email protected] |
| ➡️ Deposit | yes |
| ⏱️ Time to deposit | Instant |
| ⬅️ Withdrawal | yes |
| ⏳ Time to withdrawal | Instant |
General information about Litecoin
Litecoin is one of the earlier digital currencies to have graced the internet, having been launched on October 13, 2011. The cryptocurrency was developed to be a ‘lite’ version of Bitcoin (BTC), with a special focus on improving speeds and cutting costs involved in the transactions. It remains to be one of the largest P2P (peer-to-peer) digital currencies by market capitalisation. While there’s so much you can learn about Litecoin as a cryptocurrency, this section mainly focuses on why it is suitable as a payment method for online casino gambling.
Faster transaction times
Litecoin transactions allow you to send crypto from one online wallet to another, in this case, your wallet to the casino’s and back. The transaction starts when you and the online casino exchange a private key, which is usually a randomly generated number.
After that, the transaction goes through several confirmations. Each block generation in the Litecoin network takes about 2.5 minutes to complete (compared to 10 minutes for Bitcoin). To move one Litecoin, 12 confirmations are required. This means you can wait up to 30 minutes for a transaction to be completed. This could be lower depending on how much you are depositing or withdrawing. Once the transaction is complete, it is stored in a public ledger, and everyone in the blockchain can view it. However, no sensitive information is revealed.
With that said, it therefore means if you need to make a deposit or withdraw your winnings, using Litecoin as your currency offers a much faster processing time compared to Bitcoin. When you compare it to your fiat/traditional currency, you can expect a much faster processing time, especially for withdrawals. While traditional processing times for withdrawals can take anywhere from a few hours to 5-7 business days, Litecoin withdrawals will be processed in under an hour after it has been approved.
Litecoin value
All traditional currencies share one thing in common: their value is dependent on the number of notes/coins in circulation. While this is also true for cryptocurrencies, fiat currencies are more vulnerable to losing their value compared to cryptocurrencies. Why? Because the price and valuation of the currencies are at the mercy of the government. The more the government prints money, the more the currency loses its value.
However, this is not the case for cryptocurrencies, including Litecoin. Its value is increasing and decreasing depending on the demand and supply. The higher the demand and lower the supply, the higher the value of Litecoin. Furthermore, there’s a fixed number of Litecoin that will ever be mined (produced). This figure stands at 21 million LTC.
In line with this, it means if you are one of the ‘holders’ of the coin by the time the 21 million Litecoins will have been mined, you are only assured of an increase in the value of your coin(s). This makes it a good currency to gamble with online, especially if you are looking to hold or store it.
Litecoin address
A Litecoin address refers to a long alphanumeric string that represents your wallet. Every Litecoin wallet has its unique address, meaning no two wallets can share the same address. A Litecoin address occasionally starts with an L or M and features 26–35 alphanumeric characters. You cannot move money from and to your wallet without this address.
It’s important to mention the Litecoin address due to the sensitive nature of using it to send and receive money to and from your online casino wallet. Due to the irreversible nature of crypto protocols (including Litecoin), you cannot cancel or reverse a transaction once you initiate it.
If you send your money to the wrong address, you will only hope the person on the other end accepts to return the funds. This is why before you make any payment to online casinos with Litecoin, you must cross-check the address to make sure it’s the correct one.
Blockchain
Litecoin is based on blockchain technology, which is sometimes referred to as a distributed ledger. What this means is instead of using a central database that is susceptible to hacking, manipulation, or interference, updates to the blockchain are distributed on software records worldwide.
Simply put, blockchain is a book that stores all data electronically and securely without the need for a third party to verify the accuracy of the information stored in it. This is because the same information (transaction conducted on it) is the same that is shared across multiple locations. This makes it difficult for any interested party to change this information as they’d have to change all the data on every copy on the blockchain.
Decentralised nature
Decentralisation means there’s no central authority or governing body behind Litecoin. No single body makes the rules for Litecoin, no government controls the price of Litecoin, and no single server hosts the coin.
What does this mean to Litecoin gambling? The whole system is immune to banking manipulation or government corruption, which is quite common in the world of fiat currencies. If your local bank prevents you from uploading cash directly from your bank account, use your card to purchase Litecoin and deposit it into your online casino account. Do online eWallets such as PayPal, Skrill, Neteller, and many others ban players from your region? Use Litecoin instead to recharge your account.
Is Litecoin gambling really private?
Litecoin gambling is pseudonymous, which is much more private compared to eWallets, wire transfers, credit card transactions, and other forms of fiat transactions. As mentioned, all transactions made to and from Litecoin online casinos are publicly stored on the blockchain.
This means if you post your wallet’s QR code or address publicly, all transactions made to and from the address can be linked with your wallet. All that is required is for someone to log onto the public ledger and find the transactions associated with the wallet. In simple words, gambling using Litecoin and other cryptocurrencies is as private as you make it. You are responsible for your privacy. If you don’t want anyone to see your transactions, keep your ID private and avoid sharing your wallet address with people.
Advantages of betting with Litecoin
Okay, so you’ve read all about Litecoin and gambling. It’s clear the two are a perfect match. But why should online casino players care? Because Litecoin offers plenty of advantages for the online gambling niche compared to fiat currencies. Here are just a few outstanding points to show you the advantages of using Litecoin to gamble.
Banks cannot prevent you from transacting
Your government might have limitations preventing your bank from sending money to and from online casinos accepting Litecoin, but guess what? Litecoin and other cryptocurrencies don’t need banks to approve the transactions. When you send Litecoin to the casino’s wallet, it is a direct transaction between the online casinos with Litecoin and your wallet.
Low deposit and withdrawal limits
Since it’s so cheap to receive and send Litecoin, real money Litecoin casinos offer you the lowest minimum transaction limits when you use LTC and other cryptocurrencies to transact. Some will allow you to deposit as little as $10, which is at least half of what other fiat transactions will allow you to transact.
Faster transaction times
Even the best online casinos will usually process your transactions within a few hours up to seven business days. However, this is not the case for the best Litecoin casinos. You can expect your winnings to be paid out within a few minutes (up to 30) after the transaction has been approved.
Litecoin market coverage
The legality of cryptocurrencies is an ongoing discussion on local and international levels. The legality of Litecoin, for example, has become more and more important as its use grows internationally. At the time of writing this Litecoin casino guide, only two countries worldwide have legalised Bitcoin i.e., accept it as a legal tender. These include the Central African Republic and El Salvador. By extension, many other cryptocurrencies are accepted in these countries, although not legally.
With that said, it’s worth mentioning that crypto gambling, including Litecoin, depends on the laws that govern online casino gaming and sports betting in the country. If a country has friendly laws towards online gambling i.e., allows for online casino and sports betting services, then it means players can use Litecoin to gamble if the casino accepts the payment method. Players from the United Kingdom, several states in the USA, South Africa, Australia, and many others can use Litecoin as one of the payment methods if the online casino accepts it.
Even if the country doesn’t allow for online gambling, players have used cryptocurrencies to circumnavigate the barriers and play real money games online. They’ll use offshore online casinos to play their real money games and use Litecoin and other cryptocurrencies to fund their accounts.
So, basically, Litecoin is a saviour in both cases. However, if you choose to go for the second option, it’s highly recommended that you do due diligence to ensure you only play at a reputable and reliable online casino. One with a stellar reputation for offering safe, secure, and regulated services.
How to start gambling with Litecoin
Gambling with Litecoin is a simplistic procedure that requires very little ‘special’ knowledge to start. In fact, if you’ve ever played real money casino games, the procedure is the same. The only difference is you’ll be using a different type of currency. Without further ado, here’s how you can gamble with Litecoin online. The procedure starts from acquiring the coin to cashing out your winnings.
- Set up your crypto wallet
- Purchase your Litecoin
- Scout for online casinos accepting Litecoin – ensure you only sign up with the best
- Sign up with the casino, complete the KYC procedure, and make your deposit
- Play real money games and win money
- Withdraw your winnings
Set up your Litecoin wallet
Your Litecoin wallet is a device or an app that will help you send or receive your Litecoin. There are many different types of Litecoin wallets, although they essentially perform the same duty. These include:
Cloud wallets
They are the easiest and most convenient to use. However, by choosing cloud wallets, you are essentially handing over the safekeeping of your wallet to the business holding your Litecoin. Popular cloud wallets include eToro, Coinbase, Binance, and many more.
Software wallets
These are downloadable programs that you can install on your smartphone, tablet, iPad, or computer. These are considered to be more secure than cloud wallets as you have total control over them. Bitcoin.com and Binance are some of the popular software wallets.
Hardware wallets
This one stores private keys on a hardware device. Because of this, hardware wallets are considered the safest since they are immune to computer viruses and other forms of hacking. The best hardware wallets are Ledger and Trezor.
Before you decide on the type of wallet you need for your gambling needs, you must consider aspects such as accessibility and security. If you intend to gamble using Litecoin and store the winnings as a long-term investment, you should use a hardware wallet. However, if you intend to gamble using Litecoin and use the money from time to time, cloud wallets are the best. This is because they are easy to access as compared to the hardware wallets.
After settling for your preferred wallet, visit the official website and create an account. The whole process should take you less than five minutes from start to finish.
Purchasing Litecoin for gambling
After you’ve opened your wallet and completed the KYC verification process, the next important step is to purchase Litecoin, which you will deposit to your Litecoin online casino. After clicking the ‘buy Litecoin’ button, multiple options will appear on the screen. These include
- Debit/credit card
- Bank wire transfer
- Third-party platforms (this varies from one region to another).
You can also ask one of your mates to send you Litecoin directly to your wallet. For this, you simply need to share with them your wallet address and the amount you’d like them to share with you.
How to deposit to online casinos with Litecoin
Needless to say, before you deposit into your casino account, you must sign up with one of the Litecoin casinos online. There are hundreds of brands that support the same, and if you are unsure of the best Litecoin casinos online, you can always sign up with some of the recommended brands on this page. After that, proceed with the steps below to top up your account with Litecoin.
How to deposit using Litecoin
- Log into your newly created account
- Select the ‘deposit’ option or any other that infers the same
- Pick Litecoin as your preferred payment method
- Enter your Litecoin wallet’s address and the amount you’d like to deposit
- Confirm the transaction
Immediately after completing the confirmation, you should have your Litecoin reflected in your account within a matter of minutes.
Playing real money casino games
Once you’ve recharged your account, you are now ready to play real money casino games. And while there are all sorts of traditional casino games, there’s a special group that uses blockchain technology.
Provably Fair games, as they are referred to, allow you to verify the outcome of the result. Some online slots and many crash casino games incorporate blockchain technology, which allows you to verify if the outcome of a game is accurate. This is achieved by using third-party software to check whether the ‘seeds’ generated by the game (server seed) and player (client seed) match. If they match, it means the game’s outcome was 100% accurate and untampered with.
You can play Provably Fair games using most cryptocurrencies, including Litecoin, although they also accept fiat currencies. If you are lucky to have won money during gameplay, you can always cash out, but only after completing the KYC verification process.
How to withdraw from online casinos with Litecoin
The withdrawal process is much simpler than depositing. In fact, it will take you less time and effort compared to depositing. If you are keen to cash out your lucky win using Litecoin, here’s how to go about it.
- Log into your Litecoin wallet and pick Litecoin as your preferred wallet
- Tap/click on the ‘Receive’ button in your wallet. Copy your wallet’s address
- Log into your online casino account and head straight to the cashier’s page. Select Litecoin as your preferred currency and paste your wallet’s address in the withdrawal section
- Enter the amount in your currency, and the casino will automatically convert it for you
The transaction will be processed almost immediately, depending on the online casino you are playing from. Some of the online casinos with Litecoin will have a pending time of about 24 hours, during which they will be reviewing the transaction before paying it out. Some will process the transaction instantly. Regardless, once the request has been approved, it means you’ll have your funds in under an hour.
Litecoin transaction times and fees
Litecoin (LTC) stands out from most of the top cryptocurrencies with its faster transaction confirmation times. Litecoin blocks are generated every 2.5 minutes. Just to give you a glimpse of how fast this is, Bitcoin blocks are generated every 10 minutes. This means when you transact using Litecoin, you can expect your cash almost four times faster than Bitcoin, making it a more convenient and efficient crypto for gambling.
What other advantages do the speedy transactions offer? Well, it means players can perform transactions with quick settlement times. It also improves Litecoin’s scalability since it can handle more transactions within a certain time frame compared to other cryptocurrencies that have slower confirmation times.
As seen in one of the sections above, Litecoin was invented to solve the problem of transaction speeds and costs. It, therefore, means you can expect to pay a lower transaction fee when using Litecoin compared to most of the other top cryptocurrencies. You can pay around $0.03 or $0.04 on average in transaction fees.
Litecoin casinos pros and cons
Pros: |
|---|
| Players can expect much faster transactional speeds than fiat currencies |
| The transaction fees are also much lower compared to fiat currencies |
| No third-party interference, meaning Litecoin transactions will certainly be processed online as long as the casino supports it |
| Can be used to play provably fair games, which allow you to check for the authenticity of the game’s results |
| Strong text. |
Cons: |
|---|
| The biggest disadvantage is seen in price fluctuations. Prices of Litecoin are determined by demand and supply |
| Once you’ve sent money to the wrong wallet address, you cannot recover it. If the online casino helps you recover it, you must pay a fee |
Convenience and safety of Litecoin casinos
Litecoin casinos are literally made out of data. All the information on these platforms is stored in a database, from the software providers behind the platform to the payment gateways, sign-up forms, and user interfaces. All this data is quite valuable to hackers and other cybercriminals, which means it is imperative that Litecoin casinos use the latest state-of-the-art security technology to safeguard it. This is why the best Litecoin casinos use SSL (Secure Sockets Layer) encryption and HyperText Transfer Protocol Secure (HTTPS) technology to ensure all data passing through its site is encrypted.
If the Litecoin casino supports other payment methods, you’ll realise that the best brands have partnered with renowned payment methods in the industry. Partnering with Mastercard, Visa, Skrill, Neteller, MuchBetter, ecoPayz, and many more means the casino gives players a sense of security their financial information is safe and secure. These casinos are also PCI DSS compliant.
Using cryptocurrencies such as Litecoin is the cherry on the cake. They not only make it possible for players in areas where online gambling is prohibited to gamble but also ensure the money moves in and out of your account safely and securely. This is thanks to the blockchain technology that makes Litecoin transactions immune to hacking or manipulation.
Conclusion
If every online casino player bothered to learn how to use Litecoin today, transaction troubles in the industry would be solved tomorrow. Playing at real money Litecoin casinos will change your life. There is a lot of lazy fear, uncertainty, and doubt online when it comes to online casinos accepting Litecoin. However, we hope the article above has shed some light on how convenient, easy, safe, and secure Litecoin casinos are. Learning all about Litecoin casinos is like learning how to change a bulb for the first time or driving a car. You can read all the material about it on the internet, but the only way you can learn about it is by practising it. After a few times, it becomes much simpler.
