Litecoin

This is the best LTC Casino 2021

First released on October 7, 2011, Litecoin, which is often abbreviated to LTC, is its inventor, American computer scientist Charlie Lee. To this day, he is considered the chairman of the now established Litecoin Foundation and is responsible for the development of new Litecoins.

Interesting fact: Lee worked at Google until 2013, and only then did he switch to Coinbase, where he came up with the idea for LTC.

In 2017, the majority of all coins had already been sold, but the decision had been made to expand the LTC “ecosystem”. Today, it is estimated that there are around four times more LTC than Bitcoins 🪙 on the market.

While it is known that Litecoin is based on the protocol of the more widely used Bitcoin, the cryptocurrency nevertheless differs from its “role model” in several respects at once.

For example, the hash algorithm was completely regenerated for the coin. In addition, there is a cap that is significantly higher than for the BTC. Likewise, the block transaction times are not comparable to those of Bitcoin.

Litecoin developer Charlie Le

For the release of the cryptocurrency, developer Charlie Lee used an open-source client from GitHub. The major similarity with BTC is the peer-to-peer network through which all transactions take place. Balances and expenses are listed here.

The network generates new blocks every 2.5 minutes, which is a total of four times faster than the better-known cryptocurrency. Today, there are said to be around 84 million Litecoins in circulation.

In the meantime, the peer-to-peer currency, also called cryptocurrency, has established itself in Europe – as well as in more than 100 other countries.

Paying by LTC is possible today, for example, in the following online casinos via corresponding crypto wallets:

How Litecoin works in the online casino

The basic prerequisite for depositing in the casino with LTC is, of course, to be in possession of the cryptocurrency. Various wallets are suitable for use as exchanges at the same time. For example, on Bitpanda, any amount of euros can be converted into Litecoins.

Here are all the steps in a nutshell:

• After successful registration in the casino, you need to open the cashier
• Select Litecoin as the payment method
• Enter the amount that corresponds to the set limits
• Click continue – a new wallet address will be generated automatically
• Log in to your personal LTC wallet
• Enter the address and confirm the transaction
• Go back to the casino, the credit should now have been made

There are sometimes quite few online casinos that allow direct transfer of Litecoins, including, for example, 20Bet Casino ⭐ or Playamo, to name a few. Mostly, the way leads through the unique address generated by the company, which is also valid only once. Via this, the booking can be traced exactly and the amount can be correctly assigned to a player.

Advantages & disadvantages of Litecoin casinos

What are the advantages of Litecoin as a payment method in the casino?

Probably the biggest plus point is that Litecoins can still be bought at comparatively low prices today. Those who already stocked up on the cryptocurrency in August 2014 were possibly able to take the loss in value and buy LTC for only 4.77 USD. Today, the value is already 152.81 euros (as of February 26, 2021).

Setting up a Litecoin wallet is comparatively simple. Coins can be purchased there like on an exchange platform. Another advantage is that cryptocurrencies are becoming more and more popular overall. This is just as true for LTC as for e.g.

• Bitcoin
• Bitcoin Cash
• Ethereum

The most important advantages of Litecoins at a glance:

• Fast settlement via provider-generated address
• Banks are completely out of the picture
• No disadvantages in case of market crashes
• Real-time transactions possible
• Low purchase price

The question of legality can be answered quickly. In established online casinos, value has always been placed on respectability – especially with regard to payments. Accordingly, as a player, you can expect to find only those options that are permitted in this country. Even well-known wallets like Skrill and Neteller now allow payment with cryptocurrencies, but here it is primarily bitcoin.

What are the disadvantages of Litecoin casinos?

Although LTC is not as well-known as Bitcoin, we suspect that the cryptocurrency should be a household name to many after around 10 years of existence. While the price is comparatively cheap with currently (17.02.2021) around 180 euros, we must mention the fees in the crypto wallet at this point.

These are sometimes up to 20 percent. Alternative payment methods, such as Sofortüberweisung, Jeton or Trustly, offer customers much better conditions.

In addition, there are currently not too many online casinos in Europe that accept Litecoin or other cryptocurrencies in addition to the more well-known Bitcoin.

The disadvantages at a glance:

• High exchange fees in the wallet
• Selection of LTC casinos sometimes quite small

When asked at 20BetCasino, one of the pioneers in crypto payments, we were told that the payout of winnings is basically done with the currency that was used by the player when depositing. So, if you fill your player account with LTC, you will also get it back if you win.

However, you have to keep the sometimes significant price fluctuations in mind. Currently, Litecoin may be relatively stable. However, there have already been times when the coin value has fallen by around 70%.

Also in Woo Casino it is possible to deposit with various cryptocurrencies, including LitecoinMoreLess

Tips & tricks for paying with Litecoins

The most important thing is to deal with the offered wallets before choosing a crypto casino. Not every one of them is equally good. This becomes clear especially with a view to the already mentioned fees for an exchange. Customers can deposit in most real money currencies after opening their personal account.

How high the costs turn out, in turn, can vary significantly depending on the wallet. It makes a difference whether the exchange is charged with 10 or 20 percent, so it is advisable to make the comparison beforehand and ask the support if necessary.

It is also worthwhile to always keep an eye on the value of the LTC. If you plan to play with Litecoins in the online casino, it is best to buy some when the rate is just down. As already explained, the fluctuations are hardly as dramatic as they were at the beginning of the market launch. Nevertheless, especially with a larger investment 💶 in LTC, every euro difference can be crucial.

Litecoin FAQs

Litecoin meets similar security standards as Bitcoin and more and more online casinos accept it as a payment method. The general conditions, especially limits, should be checked more closely in advance. In most cases, significantly higher transactions are possible than with payments in real money currency.

Is there a fee for Litecoin deposit?

Costs actually do not arise in most crypto casinos. At least the best providers in the industry carry out bookings in both directions free of charge. On the other hand, the exchange of euros into LTC is subject to a fee. The amount of the fees depends on several factors and should definitely be taken into account.

In the test, an amount of money in the amount of 50 euros became an LTC equivalent of only about 40 euros. Especially if larger deposits into the Litecoin Casino are planned, you should therefore look for crypto exchanges that offer the fairest possible conditions and keep the exchange fees thereby ideally low.

Is there a Litecoin bonus in the casino?

It all depends on which online casino you choose. Some providers exclude various payment methods. Best known are Neteller, Skrill and partly also the newer Jeton. Likewise, it may happen that transactions with Litecoin do not qualify for bonus credit.

Exceptions confirm this rule. For example, those who choose companies like 20Bet definitely benefit from a welcome offer – that too if the deposit is made via LTC.

The 20 Bet welcome bonus is also available to players who deposit with Litecoin.

Is it worth buying Litecoins for casino games?

Those who are new to cryptocurrencies are well advised to buy Litecoin, which is currently stable. For one thing, there are more and more online casinos that accept the digital currency.

On the other hand, an LTC is significantly cheaper than the well-known Bitcoin. Currently, the price is around 180 euros per coin.

Is paying with LTC secure?

Nowadays, peer-to-peer networks, on which Litecoin is also based, are protected according to the highest standards. Thus, payment is not only reliable, but encryption is also used. Thus, it is almost impossible for unauthorized persons to specifically access one’s own LTCs.

Even “accidental” payments are secured according to Litecoin.org. Before a booking – to the casino or to other wallets – is made, it must be confirmed by an encryption password. This, of course, no one knows except the customer himself. Transfers are not possible without a password. However, without it you have access to the current account balance and can also track when which bookings were made.

Interesting: The Litecoin Foundation focuses on teaching customers how to handle their capital consciously. One should consciously decide for a payment and be able to consider through the history whether such a payment in the planned amount actually makes sense. Overall, LTC payments to the online casino are therefore safe.

Can I cash out with Litecoin?

According to casino support (e.g. at 20Bet), even in the case of a deposit with cryptocurrencies such as LTC, the same currency is used when paying out winnings 🏆. In this case, the daily exchange rate is decisive.

An example: 180 euros (1LTC) are deposited. In the casino itself, you usually play in real money currency, the exchange is automatic. As soon as, for example, 360 euros (2 LTC) are reached and a withdrawal is requested, the customer receives these 2 Litecoins – provided the value is identical – to the specified wallet. However, if the exchange rate has changed, the number of LTC will also vary accordingly.

What Litecoin alternatives are offered in the casino?

The most common cryptocurrencies, which are already allowed by more and more online casinos, are, in addition to Litecoin:

• The well-known Bitcoin
• Bitcoin Cash
• Ethereum

It is very likely that more alternatives will follow in the coming years.

Currently, however, the aforementioned coins are the ones that have established themselves the most on the digital market and, above all, are able to maintain their relatively stable value.

All information about Litecoin is also available in the handy app which is available for many systems (e.g. Android, Mac, Windows).

Conclusion about Litecoin Casinos in Canada

• Paying with LTC is absolutely safe.
• The crediting of a deposit takes place in real time.
• Advantageous is also the fact that Litecoins are significantly cheaper to purchase than the better-known Bitcoins.

TIP: If you are a little familiar with the matter, you even have the opportunity to mine LTC. One block currently has an equivalent value of 12.5 Litecoins.

In the end, we are not only dealing with a reliable payment method, but also with a lucrative source of income – although that is of course another topic.

The highest security standards are a matter of course with Litecoin. Especially in view of this fact, the method is becoming attractive for more and more players in Canada.

However, when considering making deposits via LTC, one should by no means disregard the transaction fees. Better conditions would be desirable, which are quite realistic if Litecoin continues to establish itself in the gaming industry and on the market in general in the next few years.