Litecoin is not only one of the most popular cryptocurrencies out there. It is also one of the older ones. It got created by Charles Lee in 2011 as a fork of Bitcoin. Essentially, Litecoin is different from its predecessor in that it features Scrypt as a proof of work scheme and has a faster block generation rate. Many call it silver to Bitcoin’s gold. It often ranks as a top-ten crypto coin. Due to its structural similarity to Bitcoin, Litecoin frequently gets used as a testing ground for improvements that will likely, later on, get applied to the world’s dominant digital form of money. Tech detail-wise, Litecoin is virtually identical to Bitcoin.
As mentioned, the Litecoin network is four times faster than Bitcoin, but its Scrypt algorithm, a password-based key derivation function, makes mining harder. Thus, it is far more strenuous to produce LTC than BTC. The blockchain features a coin limit of 84 million, which is precisely four times that of Bitcoin. At the time of writing, more than 66 million LTC coins are circulating in crypto wallets. What is interesting about Litecoin is that per data supplied by some of the most massive crypto stats sites, more than 700 Litecoin addresses hold over $1 million in LTC each. That proves that interest in this coin is super high.
As mentioned, the Litecoin network is four times faster than Bitcoin, but its Scrypt algorithm, a password-based key derivation function, makes mining harder. Thus, it is far more strenuous to produce LTC than BTC. The blockchain features a coin limit of 84 million, which is precisely four times that of Bitcoin. At the time of writing, more than 66 million LTC coins are circulating in crypto wallets.
What is interesting about Litecoin is that per data supplied by some of the most massive crypto stats sites, more than 700 Litecoin addresses hold over $1 million in LTC each. That proves that interest in this coin is super high.
Litecoin casinos are nothing more than gambling sites that let you use LTC as a payment method. Nothing more. We have seen a handful of Litecoin-only platforms over the years but have chosen not to review them, as they lacked the quality necessary to get featured by us. Thus, most Litecoin online casinos you will stumble upon on the internet, in general, and on BTCGOSU, will offer this crypto alongside Bitcoin and a few others.
There are no LTC-restricted games. If a crypto casino you fancy accepts LTC, you should be free to play all its offered products. Below, we break down a few of your gaming options at Litecoin gambling sites.
Slots rule the online gambling sector. Products from NetEnt, Pragmatic Play, Microgaming, and a slew of other providers dominate digital casino floors. You can play all of these games at crypto gambling sites that accept LTC. Hence Litecoin slots are an option.
While it is accurate that reel-spinning games face no threat when it comes to the throne of the internet’s number one gaming option, live dealer tables are slowly growing into a viable contender. Litecoin blackjack, roulette, and baccarat are available on many platforms, where you can put your luck and decision-making prowess against a croupier in an HD studio located on the other side of the planet.
Yes, Litecoin crypto casinos do offer lottery-style gambling. So, keno, bingo, and scratch cards are betting options you can enjoy at most LTC-accepting platforms. You should find these under the specialty games category, along with novel products like fish table shooters.
In the past, provably fair games were the backbone of the crypto gambling sector. Today, they are not as popular but remain an attraction that caters to a niche crowd. Litecoin dice, hi-lo, crash, Plinko, and a few other simple games whose results you can verify, and seed numbers you can reset, should be available at a decent amount of Litecoin platforms.
Sports betting is continuously gaining traction as more and more territories legalize this activity. However, most Litecoin sportsbooks accept bettors from a vast range of regions, so finding one that lets you register should not be a problem if you want to lay down bets on your favorite sports team in LTC.
Let us talk about the benefits of using Litecoin.
We already touched on this in the intro. Litecoin is four times faster than Bitcoin. That means that it processes transactions within a maximum period of 2.5 minutes.
Virtually every exchange and popular wallet supports Litecoin, and it has an excellent reputation with crypto aficionados. Thus, holding it in your crypto wallet should not induce too many hassles, as it has a low volatility level, and you can get rid of your LTC fast if you need to do so.
Overall, and particularly compared to some of the other popular cryptocurrencies.
The main drawbacks of using LTC are:
In 2017, Charlie Lee, Litecoin’s developer, sold his holdings when Litecoin prices were surging. That left some to speculate that he did not have long-term faith in the coin. The LitePay service going under also set off alarm bells with some investors about the long-haul prospects of Litecoin. Its upgrades also often feel like patches.
In 2018, a report suggested that 30% of Dark Web vendors accept Litecoin, making it the second-most-used coin on the Dark Web. This stat also casts doubts on the future of this crypto.
Yes, Litecoin’s price jumps every year, but not close to the same level as Ethereum and Bitcoin. Thus, it may not be as safe an investment as its competitors.
To begin betting with LTC at Litecoin crypto casinos, you will need to:
According to most, the best LTC wallets are LiteVault, Exodus, Guarda, Exodus Mobile, Litecoin Core, Ledger, and Trezor.
You can buy LTC on Coinbase, eToro, Binance, Benzinga, Kraken, and many other popular exchanges.
When you have a crypto wallet with LTC in it, you must open the banking page of your Litecoin casino, pick deposit, Litecoin, and enter the amount of LTC you wish to transfer over to your gambling balance.
If a Litecoin gambling hub looks appealing at first sight, before creating an account, go through our review of it, paying attention to these things:
A decent UX design can help provide smooth gambling entertainment and reduce unnecessary hassles. You should move from one section of a Litecoin site to another with ease on desktop and mobile devices. If that is not so, maybe you should look into another casino accepting Litecoin.
If you are a BTCGOSU regular, you know where we stand regarding KYC procedures. They need to be as simple as possible, as they are the bane of most internet gamblers’ existence. Check the T&C of the site you are considering to see if it makes life difficult when you attempt to remove funds from your balance.
If you are not a provably fair gambler, you likely want to have access to a robust game lobby. Glance through our review of the platform you are thinking about joining to see how many products we list it has and from who. If what you read in that section of our review satisfies you, go ahead and sign-up. If it does not, skip it and search for a Litecoin gambling platform that fits your interactive gaming appetite.
Before you start betting with Litecoin today, have a quick mooch at our FAQ guide to betting at Litecoin casinos.
Most of the major ones do, and even some of the up-and-coming fledgeling casinos take on LTC deposits and withdrawals. Litecoin is a major cryptocurrency, so finding a top site to play at should be a doddle, especially with our Litecoin casino reviews.
Litecoin is notably cheaper than most other major cryptocurrencies to use. With typical charges of $0.03 up to $0.04 per transaction, it is miles cheaper than Bitcoin and Ethereum to use at online casinos.
Playing your favourite live dealer casino games with Litecoin shouldn’t pose any sort of issue. Evolution Gaming, Ezugi and most of the other major providers have made LTC gameplay possible in their biggest live casino titles.
Using Litecoin to bet online is no riskier than betting with BTC, ETH or other significant crypto options. It’s lost a bit of credibility due to Dark Web vendors, but the relatively slow growth rate makes it stable to gamble with.
Any major cryptocurrency casino that accepts Litecoin should easily offer you the chance to claim welcome bonuses and more in LTC. Our top Litecoin casinos certainly can, and some even extend LTC online casino bonuses to loyalty rewards, tournaments, and re-deposit deals.