The gambling industry has changed over the years. Especially with the Covid pandemic, most physical casinos have been closed down. So, gamblers have been forced to play on online gambling sites.
Cryptocurrency gaming platforms have also become very popular among gamblers. Bitcoin online casinos are more compared to other crypto coins. However, Litecoin has also become popular among gambling fanatics.
This is because they offer more player rewards, privacy, low fees, fast payment processing, and ease of use. If you want to learn more about gambling with the crypto coin, you can go on this page and learn more about Litecoin gambling.
What is Litecoin?
Litecoin, abbreviated as LTC, was first created in 2011. After two years after its release, LTC reached a $1B market capitalization. It’s now ranked the 6th largest crypto coin out of 1,600 in market capitalization. The crypto coin’s value right now is around $125.
Since it was invented, the coin has been used in different industries, including online gambling. But there are so many cryptocurrencies in circulation.
So, why is Litecoin a big deal in the iGaming industry? Well, like anything else, the coin has its strengths and weaknesses. Here are some of the major benefits of using Litecoin for online casino transactions;
- Low fees – Litecoin transactions are processed through blockchain technology which eliminates the need for a ‘middle-man.’ So, this helps to reduce transaction costs from point A to B. You, therefore, get to save up on every penny earned at an online casino. But be sure to meet any casino’s playthrough requirements, if any.
- High security – the decentralization nature of Litecoin transactions enables users to enjoy a level of security not available in traditional payment options. You will only need to provide your wallet address for the casino payment transactions to be completed.
- User-friendly – the Litecoin interface is easy to use. You only need to open a wallet address via an exchange site and then provide the address at the casino to make deposits and withdrawals. LTC casinos are also fully optimized for mobile devices allowing you to play the games from wherever you are.
- Exclusive bonus offers – the best Litecoin casinos offer amazing bonuses to their players. In some casinos, you will only get to enjoy a bonus offer if you play using the cryptocurrency. So, be sure to look out for any special bonuses from the operator’s promotions page.
- Round-the-clock coverage – cryptocurrency networks usually operate continuously. This allows you to play at any Litecoin casino anytime from anywhere. But remember only to wager what you can afford to lose. Also, remember to check out the terms and conditions of your preferred iGaming site. This is because some countries limit cryptocurrency transactions.
- Quick transaction processing – Litecoin casino transactions are carried out within minutes. So, you will have access to your winnings faster if you use LTC compared to other payment options like bank transfers.
Litecoin allows you to enjoy fast payout processing and low transaction fees. So, it’s not strange that most iGaming sites offer it as a payment option.
The popularity of the crypto coin can also be attributed to the fact that it’s somewhat similar to Bitcoin. It was invented with the aim of it being the ‘silver’ to BTC’s ‘gold.’ Only difference is that LTC is not that volatile like Bitcoin.
Although Litecoin gambling has its perks, you should never forget that there are drawbacks to online gambling. For example, the price of LTC always fluctuates. So, it can either work in your favor or not.