In the world of online gambling, financial transactions are limited to the location players are betting from. While most reputable online casinos cater to an international audience, respective countries’ financial laws play a major determining factor when it comes to banking suite options. For example, US players are often restricted to credit/debit cards for deposits and checks through the mail for withdrawals. International players usually have more options including eWallets like Skrill and Neteller, wire transfers and more. One currency form that all players can use is cryptocurrency, with two of the biggest forms being Bitcoin and Litecoin.
Digital currency is taking over the online marketplace as a peer-regulated currency form, as opposed to one regulated by third-party financial institutions. Online gambling sites support cryptocurrencies because they are the fastest way of sending and receiving money and do not come with any additional fees attached. This guide was created to inform players interested in learning about Litecoin gambling and which reputable sites accept this cryptocurrency. There is also information regarding the benefits and safety of digital currencies and the differences between Bitcoin and Litecoin.
Top Rated Gambling Sites That Accept Litecoin
Sifting through all the online casinos and sportsbooks is a daunting task, especially when you do not know what to look for. Below you will find a table comprising the best available online gambling sites that accept Litecoin deposits. There are several different circumstances that we look out for in vetting these online gambling sites. All of these gambling sites are legally licensed and regulated by a respected body of government (which is the most important qualifying factor), have a wide range of casino games, table games and sports betting lines, have top-notch security profiles that protect your sensitive information, reliable customer support and bonus incentives. The good news here is that the biggest and most trusted names in online gambling are starting to accept Litecoin deposits.
|Site Name||Bonus||USA||Visit Site|
|50% Max $2,500||VISIT SITE REVIEW|
|75% Max $1,000||VISIT SITE REVIEW|
|100% Max 5 LTC|
What is Litecoin Crypto-Currency?
Litecoin is a digital currency form that has gained a lot of popularity and potential applicability in recent weeks. It has long been considered a competitor to Bitcoin, another digital currency. Cryptocurrencies are becoming increasingly popular in online marketplaces due to their fast processing times and peer-regulated interface.
How Does Litecoin Work?
Litecoin operates on a blockchain, which is essentially an online ledger that tracks all transactions. There is a system of nodes that assist in processing transactions along with Litecoin miners that help with security and transaction verification. The entire creation and transfer procedures are part of a large open source, peer-to-peer network without any sort of financial institution in charge. Players can purchase Litecoins through online currency providers. Coinbase, one of the biggest digital currency providers in the market, just added Litecoin to their service, making the process of buying Litecoins simple and fast. You can send and receive Litecoins via your digital wallet, which comes with its own unique address and signature.
What Are The Benefits Of Using Litecoin To Fund My Online Gambling Account?
Using cryptocurrencies as opposed to other transaction methods is advantageous in several ways. The first of which is processing fees. Most online gambling site banking suites do not require any processing fees for deposits, but there can be varying supplementary fees when it comes to payouts. Digital currencies like Litecoin and Bitcoin do not have any additional fees. The only time extra fees can be applied is when digital currency users pay more to increase their transaction processing time.
Another advantage is speed. Digital currencies are the fastest when it comes to processing time. Most deposited funds (regardless of transaction type) are available immediately upon successful completion of the deposit. Different payout methods require processing windows. For example, checks can take up to 10-15 business days. The only way cryptocurrencies can be delayed is when there are too many transactions on the blockchain; miners have a hard time keeping up with speed of transactions coming in as they try to verify them. Most gambling sites recommend digital currencies as the fastest methods.
Digital currency transactions carry a degree of anonymity with them as well, which can be an attractive quality for some online gamblers. Rather than entering in your name and sensitive card information, cryptocurrency transactions only require you to enter your digital wallet address. The Litecoins will be transferred to and from your wallet without any personal information required.
The last advantage comes in the form of bonuses. Most reputable online gambling sites have bonuses that provide players additional funds free of charge. There are some bonuses exclusive to digital currency users, meaning you are rewarded for using Litecoin.
Are Litecoin And Other Cryptocurrencies Safe To Use?
Overall, yes. Cryptocurrencies are still relatively new. The fact that they are peer-monitored also means they are not backed by any major financial authority. There have been a few instances of Bitcoin hackings, but nothing severe. In fact, Litecoin has recently employed a new software update called Segregated Witness, or SegWit. SegWit helps to protect against transaction malleability, or when hackers alter transaction details to make them invalid. SegWig has proven quite successful for Litecoin and is paving the way for the future of digital currencies. The fact that digital currency transactions do not require any personal information also makes them a safe currency form.
Can USA Players Use Litecoin?
Yes. US players are free to engage in the purchasing and exchanging of Litecoins.
Litecoin v. Bitcoin – What Is The Difference?
Although Bitcoin has long been the more popular option, Litecoin is beginning to make an upward shift in the market. The two operate similar when it comes to blockchain transactions. Now that Litecoin is being supported by Coinbase, they are both purchased in the same way.
The differences can be found in the size limits and precautionary measures. Litecoin’s introduction of SegWig has helped alleviate the problem of transaction malleability by erasing unnecessary pockets of information that were susceptible to hacking. All Bitcoin blockchain transactions are capped at one megabyte of space, which simply isn’t enough to handle the amount of transactions taking place per minute. This limitation has led to delayed processing times for users. SegWig increases the size limit to four megabytes, allowing for more transactions to be processed in a smaller window of time.
Interested in online casino gambling? Follow the link provided to be taken to our page with Litecoin-friendly online casinos. This page has exclusive information that will help you learn everything you need to know to engage in safe and legal online casino gambling with Litecoin as your preferred currency.
Litecoin Poker Sites
Online poker players have the option to use Litecoin as their currency method through one of our Litecoin-friendly poker sites. You can learn more through our Litecoin Poker sites page.
Litecoin Sports Betting
Sports betting is one of the most popular forms of gambling. We’ve reviewed 2 sportsbooks that accept Litecoin and to top it off they are actually 2 of the most reputable in the entire sports betting industry. These sites have betting lines from sports and leagues from all around the world and feature several different wagering types. Learn more in our Litecoin sports betting guide.