Since Litecoin launched in 2011, it has become one of the top digital currencies, with an ever-growing market capitalisation. The alternative coin is one of the payment options you will find on cryptocurrency gaming websites. Litecoin gambling is gaining prominence as players discover how to leverage the benefits of the virtual coin.
However, before buying crypto coins to gamble with, know how to find the most suitable platforms. We compiled this guide to help you compare the best Litecoin casinos, saving you the trouble of sifting through the web.
How Does a Litecoin Casino Work?
You are new to Litecoin gambling and wondering, how does it all happen? If you play on regular casino sites, then you don’t have to fret about gaming with cryptocurrency because it’s almost similar. The digital currency uses blockchain technology, a distributed ledger that records all transactions. Since the network is decentralised, it has various advantages. For one, payments don’t have to go through a third party, such as a bank. Therefore, a casino doesn’t ask for any personal details.
You can register at a casino, deposit your coins and start playing. Further down in this guide, we take you through the process of gambling at a Litecoin casino. These crypto sites have a wide variety of games, bonuses and loyalty programs. Whatever your preferences, you can use the alternative coin to gamble on slots, scratchies and even live dealer games. Of course, you must make sure an operator is licensed and legitimate. Although LTC casinos are relatively young in the gambling market, we guarantee you can find a reputable and reliable platform. Also, you must ensure you can gamble legally with cryptocurrency in your region.
- Little to no fees for deposits and withdrawals
- Increased security when gambling
- Fast withdrawals
- Attractive bonuses due to low transaction costs
- Limited sites accept the digital currency
- High risk of using unregulated platforms
Litecoin Casino Bonus – Understanding the terms and requirements
The first thing most players look at when searching for suitable gambling websites is the bonus options. So, it’s a crucial element for us when comparing Litecoin casinos. Gaming sites that accept virtual currencies provide a range of bonuses, just like traditional casinos, or even better. Due to the lightning-fast and low-cost transactions of the digital coin, operators save significantly. Therefore, they pass on those savings to gamblers. New and existing players can claim different offers, which we highlight below.
Welcome bonuses with LTC
A welcome bonus is designed to attract first-time users to a particular LTC casino and is the most common promotion. They are usually matched deposits, where the gaming website matches the amount, you transfer to your account to a certain percentage. For example, 100% up to 2 LTC.
Free spins with Litecoins
They allow you to play specific slot games without spending money for the given rounds. These offers can be standalone or bundled into other bonuses, mostly, the welcome offer. Free spins are used to promote a particular game.
LTC Reload bonuses
They are the most popular offers for continuing players. The reload bonus gives you free funds for subsequent deposits. It might be daily, weekly or monthly. A reload bonus is mainly cash, but it can also include free spins.
In fact, a no-deposit bonus is rare. But these offers give you money without requiring a deposit first. A deposit-free offer targets new users, encouraging them to try out a casino without risking their bankrolls. However, some Litecoin gambling sites also give away no-deposit bonuses as exclusive promotions to existing gamblers.
Cashback bonuses with Litecoins
A cashback bonus gives money back to the player. When you lose, a casino can offer a rebate, usually a small fraction of your losses.
VIP bonuses & Loyalty programs
A VIP Bonus targets high rollers. If you deposit large sums, then a Litecoin gambling platform can reward you with an exclusive offer.
Loyalty programs appreciate customers by letting them earn points from their betting. You collect points that the casino allows you to redeem for different gifts, including credits, free spins and cash bonuses. These reward programs are divided into levels, with perks increasing with each higher rank. Litecoin casinos also have VIP tiers that offer special benefits to big spenders.
Besides knowing how different Litecoin casino bonuses work, you also need to understand other terms. Most offers come with wagering requirements that require you to stake the bonus a certain number of times before withdrawing winnings. An operator will also restrict the games you can play with a particular bonus. Therefore, you have to confirm the eligible titles before gambling. You also have to watch out for deadlines because most promotions limit availability.
Get Started with a Litecoin Casino – Our Step-by-Step Guide
LTC casinos are not complicated, allowing first-time crypto gamblers to get started with relative ease. This section explains how to go about gambling with Litecoins.
Step 1: Buy Coins
You must acquire Litecoins first to be able to gamble with it online. One way to get it is to have another person send it to your wallet. Most people, though, have to purchase cryptocurrencies. The process doesn’t have a steep learning curve. Begin by finding a crypto exchange that sells that particular coin, a majority do. Ensure you use a regulated provider, such as Coinbase. We insist on licensed exchanges because the law requires it in some countries. Security and fees are other aspects to consider when selecting a coin exchange.
Once you have, create an account. The platform asks for personal information, which you must verify. KYC policies are some of the ways coin exchanges protect themselves against fraud and other threats. After opening an account, you can buy the coins you need. Depending on the platform, you can use digital wallets or credit cards.
You need another wallet for your crypto payments. This wallet generates an address used for deposits and withdrawals. Keep this key safe because if you lose it, your money goes with it. Research the different types of crypto storage and pick the best one for Litecoin gambling. A popular choice is an online wallet, which you can get at a coin exchange. However, some providers restrict payments to gambling websites. So, confirm if such limitations exist beforehand.
Step 2: Find a Suitable Casino
Litecoin online casinos are not the same. Hence, be careful about the sites you choose to gamble on. Research is your best friend when it comes to picking an online casino. Start by looking for regulated websites. Although cryptocurrency gambling is poorly regulated or not at all in many regions, don’t use unlicensed platforms. Consider the bonuses available, as well. Find a casino that offers attractive and fair promotions. Remember to check the terms. Search for platforms offering games that match your taste. The best Litecoin gambling sites stock quality, provably fair games. Our list of recommended casinos should give you an idea of some gaming websites to consider.
Step 3: Deposit Funds
After registering your gaming account, you are ready to transfer coins. Go to the payment page and select ‘Deposit.’ Choose your preferred banking alternative, then input the desired amount. The site will prompt you to enter your wallet address. Verify this address before approving the deposit because crypto transactions are irreversible. The funds will be available almost immediately after you finish the process. Remember to check a casino’s minimum and maximum limits, especially if you intend to claim a bonus.
Step 4: Play!
Choose the casino games you want and start betting. We advise all players to gamble responsibly. Only wager money you are comfortable losing.
Litecoin vs Bitcoin
Although LTC has come a long way, it still draws comparisons to Bitcoin. After all, the alternative coin was modelled on the original digital currency. The idea was to create an alternative to improve on Bitcoin’s shortcomings. For this reason, the two currencies are similar in many aspects. Launched in 2011, the alternative coin runs on a decentralised network, one of the similarities with BTC. Therefore, transactions for both coins are immutable, meaning they cannot be changed. The distributed network eliminates the third party, like a central bank, found in conventional payments. Hence, transactions are fast and low cost.
Litecoin, however, is cheaper and faster than Bitcoin. One improvement the alternative coin made on the original blockchain was producing more blocks. It develops blocks in a quarter of the time it takes the initial cryptocurrency. Consequently, the alternative coin reduces transaction speeds.
As Bitcoin grew in popularity, service charges increased, making the alternative a cheaper option. Although LTC has robust security, it’s not as secure as Bitcoin. The legacy coin is one of the safest, courtesy of its high hash rate. Another advantage it has over the coin is accessibility. BTC is widely available and accepted at almost every crypto casino. Conversely, the alternative coin might be difficult to find at coin exchanges and gaming websites.
Our Final Thoughts
Litecoin gambling is slowly grabbing the attention of players globally. The digital currency is proving to be a worthy competitor to some of the biggest coins. As the cryptocurrency market goes through a phenomenal growth period, the alternative coin is making its presence felt. Due to its minimal transaction fees, speeds and simplicity, Litecoin is uniquely qualified for iGaming. The cryptocurrency’s increasing availability at internet casinos proves it.
Litecoin online casinos cater to diverse gamblers. They provide a broad category of games, meeting varied demands. Whether you prefer blackjack to slots, low limit to high limit or fast-paced to relaxed games, be confident about finding what you need. The casinos are easy to use, allowing even players with no crypto background to gamble effortlessly.
Additionally, information about the use of cryptocurrencies, such as in online gambling, is readily available. We provide comprehensive resources to help players find what they need. You can quickly find a Litecoin casino review to learn more about a particular site before using it. Besides choosing licensed sites, check how they hold funds. Does the casino keep your deposit in crypto or convert it into fiat?
The best Litecoin casinos change customer deposits into fiat to cushion against volatility. Also, be clear about the costs incurred for playing with digital currencies. Taxation is another element to keep in mind when gambling on the blockchain. Find out if your cryptocurrency winnings are subject to taxes. The future looks bright for cryptocurrency gambling, and Litecoin online casinos will be some of the most popular given the coin’s growing prominence. Players can expect to easily find gaming sites that accept the alternative coin, meaning more gambling options.
Frequently Asked Questions with Litecoins
Yes, you can gamble on these platforms legally in many countries. However, the site you choose determines if it’s legal or not. Countries that legalise internet gambling require players to use licensed and registered websites. Whether the casino is local or offshore, it must be authorised to operate in the region. Not all operators are legitimate, though. The cryptocurrency gambling scene is particularly plagued with shady casinos. Some are not licensed properly, while others don’t have licenses at all. Therefore, be careful when picking a suitable platform. Besides a Litecoin casino review, verify the registration, as well. Make certain a website is reputable.
You can be confident about playing on the best Litecoin casinos safely. Cryptocurrency gambling is relatively young, and players remain wary. The sector operates chiefly on trust, which a casino cultivates by protecting the customer. So, the gaming website you pick impacts your security. Digital currencies are inherently safer than fiat transactions due to the immutability and decentralisation of the blockchain. The fact that you don’t have to submit personal details on Litecoin gambling sites also speaks to the safety of these casinos. Nonetheless, choose a platform with adequate security measures. At the very least, it should have SSL encryption to make sure data is transmitted securely.
If you have winnings in crypto and want to change them to fiat, the process is simple. After transferring coins from the casino to your wallet, you need a crypto exchange to convert them. If you have online storage at an exchange service, you only have to sell your coins. The platform allows you to choose the fiat currency you want the funds in. If your coins are in cold storage or a desktop wallet, you need to transfer them to an exchange website before selling. Coin exchanges charge for these transactions. Hence, find out the charges in advance.
Cashing out on a crypto online casino is just as simple as depositing. Go to the site’s cashier section and choose ‘Withdrawals.’ Select the preferred coin, then enter the amount. The casino will direct you to a page where you can input your wallet address. Confirm the request and wait for your money. The digital coin takes a couple of minutes to approve transactions. However, operators have their withdrawal procedures, which can take between 24 and 48 hours. Once your request goes through, the funds will be credited to your wallet. Ensure you fulfil payout conditions, which vary across casinos, before sending your request.
A majority of online casinos doesn’t charge for deposits, some don’t even impose withdrawal fees. However, your wallet might. The service you use may charge a portion for every transaction. Therefore, the fee depends on the size of your deposit. This amount depends on the platform. So, find out about these costs before signing up. The digital currency itself has network costs, even though they are minimal. These fees fluctuate depending on the network traffic. Thus, stay updated on the latest charges. If an online casino changes crypto to fiat, conversion fees apply.