In this article, we introduce to you Litecoin as a payment method at Casinos that accept Litecoin. Cryptcurrencies have become popular at online casinos of late. These are some online domains that have started accepting cryptocurrencies, allowing holders of such digital currency to be able to use the same in exchange for gambling services.
While other online or offline retail transactions are still few and limited for cryptocurrencies, more and more online gambling domains have started accepting such currencies. They also do not charge processing fees which makes it ideal to gamble with.
Litecoin is one of the several cryptocurrencies launched after the first cryptocurrency, Bitcoin became famous. This particular cryptocurrency was launched in the year 2011. Ethereum and Bitcoin were launched after it was found that Bitcoin control was too centralised. It made it difficult for mining firms to gain an upper hand. After Litecoin was launched, the lion's share of mining for the same was taken over by enterprise miners. Today it is a mineable coin which works through a peer-based payment process.
Litecoin Exchanges
Cryptocurrencies are originally available on different cryptocurrency exchanges. There are several exchanges that are licensed to conduct such transactions in the United States or in other countries. However, the exchanges based within the US are regulated and monitored by the Securities and Exchange Commission. As a result, the exchanges work within established norms and offer fair transactions for traders and investors.
If you are a US citizen then your choices to buy Litecoin stay limited within US exchanges. In general, there are some internationally trusted Litecoin exchanges. You can log in at these sites to purchase Litecoin with fiat currency. Before you log in at a casino with Litecoin to use it as a payment method, you need to get Litecoins from one such exchange and store it in a digital wallet.
Litecoin exchanges that are reputed are:
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Kraken
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Coinbase
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Poloniex
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Bittrex
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Bitfinex
In order to get Litecoin ready for use at a gambling site, you need to get the cryptocurrency bought and stored in a digital wallet. The exchanges also provide wallets to the users. Otherwise, you can also own a separate Litecoin wallet. It is best that you keep the cryptocurrency in the wallet and transfer the minimum amount to the casino account you open. It represents a secure way of making payments at an online casino.
While any other payment method such as bank account transfer or credit card payment requires you to key in the details on the casino site such as bank account information or card details, with a cryptocurrency wallet payment this is not necessary. Here the payment is similar to other digital wallet services.
Litecoin Wallets
Litecoin wallet transactions are easily done. All you need to do is the key in your wallet ID. This is all that you need to disclose in order to make a deposit with Litecoin or seek a withdrawal. Once you approve the transaction from the wallet the amount you specify is deposited into your casino account.
The transaction processes are also fast, almost instant with cryptocurrency wallets. Also, reputed casinos that accept cryptocurrencies do not charge additional fees for such transactions.
Reputed Litecoin wallets are the following:
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Litecoin wallet for Android
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Electrum for Windows, OSX and Linux
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LoafWallet for iOS
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Jaxx for iOS
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Coinomi for Android
In the sections below we explore what are the different advantages and disadvantages of using Litecoin as payment method at online casinos. We also review the way to make deposits using this cryptocurrency as well as how to withdraw. Finally, we review some top-notch casinos with reference to this payment method.
Litecoin’s Online Casinos in India
There has been a rise in interest in cryptocurrencies for which online casino with Litecoin is on the rise as well. However, here we research and provide information about casinos that are reputed, reliable and accept Litecoin as a payment method. Unlike most retail sites, online or offline, gambling sites are the firsts to pick up on accepting cryptocurrencies for such subscription services.
Litecoin, also known as LTC, exists in digital formats, like other cryptocurrencies. For that, there are no banknotes or physical coins available. Litecoin was launched with similar properties as Bitcoin. It can also be considered a copy of this original cryptocurrency, as to how it is legalised through blockchain and is mined as well.
It also offers some advantages that make it more popular with Bitcoin. The latter is often known to involve transaction fees. It also takes longer for Bitcoin transactions to get confirmed. In both aspects, Litecoin is known to solve the problems. It is a cheaper cryptocurrency to get your hands on and payments with it happen faster, often involving no fees.
Transactions in Litecoin get confirmed via blockchain technology which is a decentralised database, open to the public. It is also difficult for hackers to steal such data or virtual money. Payment with this cryptocurrency remains secure at online casinos also due to the wallet transaction method.
Casinos with Litecoin: Pros and cons
The advantages of paying with Litecoin are the following:
- Transactions are secure since you only need to key in your wallet ID.
- Payments are processed instantly, often faster than Bitcoin transactions.
- Transaction fees are usually not charged on this payment method.
Limitations of Litecoin payment at casinos are the following:
- Not all online casinos accept cryptocurrency or Litecoin.
- Casinos might accept Litecoin only in certain regions such as 22Bet.
- Not all game options might be available for gambling with this cryptocurrency.
How to Deposit in Online Casinos with Litecoin?
Steps to make a deposit at a casino with Litecoin:
Log in and create an account at a casino such as Nomini casino that accepts Litecoin as a payment method.
- Once your account is validated you can head over to the banking or cashier section to make deposits.
- Here you can choose Litecoin as the method to pay; there could be mention of cryptocurrency wallets here.
- The casino will have a public wallet number or PWN. This is usually a mix of alphabets and numbers. After you copy the same you need to log onto your cryptocurrency wallet. Here you need to paste in the casino PWN as well as the amount you wish to deposit.
- After your transaction is confirmed the transfer is usually completed within minutes. Once your account is credited with funds you can start to wager on different casino games.
Tips When Making a Deposit with Litecoin
Before you choose Litecoin as the payment method at a casino check the following aspects:
- Go through terms and conditions relating to this mode of payment for transaction fees, timelines.
- After you are okay with the minimum requirements then the only choice is to make the deposit.
- Also, check whether you can deposit as well as withdraw with the same payment method.
How to Withdraw at an Online Casino with Litecoin?
Steps to make withdrawals using Litecoin are as follows:
- Visit the cashier section at the casino where you wish to make a withdrawal.
- Find Litecoin among the payment methods enlisted for withdrawal.
- Input the amount you wish to withdraw and then key in the public wallet number of your Litecoin wallet.
- Confirm the transaction to take place. Wait to see the funds in your account. It usually happens in minutes.
Our Recommendations before Requesting a Withdrawal
We recommend that you remember the following when seeking a withdrawal with Litecoin as the payment method:
- Check whether you have the minimum funds in your account to seek a withdrawal.
- Ensure that the casino allows you to make withdrawals using your cryptocurrency wallet.
- If you have availed of bonus funds check whether you completed the wagering requirements.
Online Casino with Litecoin Transactions
When you choose to make payment transactions at a casino with Litecoin you need to keep in mind the following points:
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Fees Apply if Any
This should be looked at before you choose Litecoin as the payment method to seek withdrawals. Many casinos do charge a nominal fee. You should be aware of the same before you make Litecoin your preferred way to make a withdrawal.
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Timing
Check the payment terms to determine within what timeline you can expect the funds to land in your account.
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Limits
Usually there are the minimum and maximum limits for each payment method. Check the same under terms and conditions before you choose Litecoin as a withdrawal payment method.
Safety and Security at an Online Casino with Litecoin
When it comes to making payments at casinos online with Litecoin, there are certain safety measures that you should keep in mind:
- Ensure that you choose a strong password to safeguard your account on the casino site.
- At the time of making deposits in your account, fill it with funds adequate for that day’s gambling; this will ensure that no one can hack into your account and use your funds to wager on games.
- Key in your wallet ID as and when you make transactions; save the ID details in a safe place.
- Ensure that security measures are updated on the computer or smartphone from where you log in.
How We Choose the Litecoin Online Casinos?
Below are the factors that we consider before we recommend the best online casino that accepts Litecoin:
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License and Security Measures
When recommending casinos as per a payment method we first ensure that it is a site that holds a valid license. Also, safety and security measures should be up to date on these sites.
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Availability
This is the main consideration before we recommend a site that accepts Litecoin such as Primatch casino. It will surely be one of the payment methods accepted at the site.
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Fees Involved
Though most gambling sites do not have or charge nominal fees for transacting with cryptocurrencies, we check these details and verify them in our review for our readers.
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Processing Timelines
This is another important consideration before you choose Litecoin as your payment method. We review and recommend casinos that have fast timelines or process your deposit as well as withdrawal with Litecoin.
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Bonuses
Many casinos make it rewarding for customers when they choose payment method such as Litecoin. They have special welcome offers, free spins, table game offers, cashback and more, separately for cryptocurrency payers.
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Limits
This is another factor that we review and provide details of in our review. When you choose Litecoin as your payment method you will want to know what is the minimum limit of deposit options in casinos for payment. Also, you will want to know the minimum or the maximum limit for withdrawing your wins from such casinos.