Litecoin Casinos Online

The Biggest Benefits of Playing Litecoin Casinos Online

The crypto market is rapidly developing and expanding into all industries. In online gambling, the use of cryptocurrencies has been present for a long time, but there is no doubt that various economic and social factors have influenced the fact that cryptocurrencies have become more prevalent in online casinos. Ever since the COVID-19 pandemic, when a large number of land-based casinos were temporarily or permanently closed, the online casino market has experienced rapid development and expansion, and of course, this has also affected crypto casinos. Not only have more casinos introduced the option of paying with cryptocurrencies, but also the users of these currencies have become interested in all the ways they can turn their assets and make a profit from home, and online gambling is an ideal way to do that.

Even though bitcoin casinos present the most common type of crypto casino, given that bitcoin is in itself the most popular and widespread cryptocurrency, there are also casinos that accept other ‘alternative’ cryptocurrencies such as Ethereum, Ripple, Cardano, and Litecoin, among others.

Created in 2011 by an ex-Google engineer Charlie Lee, Litecoin (LTC) today has a market cap of $10 billion. Inspired by bitcoin itself the Litecoin main chain even shares a slightly modified Bitcoin codebase. The idea was to create a sort of a bitcoin spinoff or its ‘lite’ version. Due to its crucial similarities to Bitcoin, Litecoin has often been referred to as the “silver to Bitcoin’s gold.”

When compared to bitcoin there are a few key benefits of litecoin such as lower transaction fees, faster transaction confirmations, and faster mining difficulty retargeting, making litecoin far more practical.

If you are keen on joining a crypto casino check out our best Indian casino sites that accept litecoin, also here are a few reasons why you should go for a Litecoin casino:

Litecoin is easy to acquire

Due to its popularity, Litecoin is widely available and quite easy to buy. If you are not already in possession of the coins, acquiring them shouldn’t present a problem. Litecoin is available at all major crypto exchanges. You can also purchase the coins directly through other payment apps such as Venmo and PayPal or Litecoin-specific wallets, such as Litewallet. 

The transactions are extremely fast 

We can all agree that the biggest downside to withdrawing your winnings from your online casino account is the wait. Bank transfers can take days and sometimes even weeks to be completed meanwhile you are stuck waiting for your money. Cryptocurrencies in general solve this problem for players since they have significantly lower transaction times, but Litecoin takes the cake when it comes to fast transactions. As we mentioned earlier, Litecoin aimed to solve a number of problems Bitcoin users faced, one of them being transaction times.

It takes no longer than 2.5 minutes for the Litecoin network to generate a block or process a transaction. In comparison, bitcoin transactions usually take about 10 minutes before they are fully processed. This makes Litecoin far more practical for day-to-day use and microtransactions.

Transaction fees are lower 

Litecoin can process your transactions at a lower cost than Bitcoin can. A larger blockchain that Litecoin uses ensures that there will be space and time to process deposits and withdrawals more efficiently. This not only leads to faster but also cheaper transactions. Fees for LTC transactions are a mere fraction of the price you’d pay for the majority of traditional payment methods, as well as other cryptocurrencies.

Litecoin allows you to gamble anonymously 

One of the favorite benefits of a large number of cryptocurrency users is precisely the anonymity of payments that they enable. When signing up for a crypto casino there is little to no personal information needed to create an account. All that is needed is a unique wallet address to store your winnings. This enables you to keep your gambling hobby separate from your finances thus allowing you to ‘hide’ your activity from anyone you choose, including your bank so it can’t affect your credit score or go on your record.

Another benefit is that players from countries that restrict online gambling can join crypto casinos due to the decentralized nature of Litecoin since the local government has no authority over players’ crypto assets.

Litecoin provides an additional layer of security 

Although most reputable online casinos are well protected usually by SSL encryption, cyber-attacks are still pretty common and players’ assets as well as personal information end up stolen. By using blockchain technology, which is one of the safest networks, you are adding an extra, heavy layer of security. Furthermore, since Litecoin casinos don’t require customers to share any personal information there is no data to be stolen in the first place which makes crypto casinos not only great for your privacy but also your safety.

Litecoin casinos offer special bonuses and promotions 

If you often gamble online you must’ve come across a variety of bonuses that online casinos offer to their clients. None of these bonuses can compare to what crypto casinos have to offer. Since crypto casinos are still a relatively newer concept and players are still a little skeptical about gambling with crypto, these casinos have to work twice as hard to entice new players. Bonuses in crypto casinos are thus far more lucrative than in regular online casinos. There are even special games that aren’t available to regular players.