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Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. It was created based on the Bitcoin protocol but differs in terms of the hashing algorithm used.

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Cryptocurrencies are the revolutionary breakthrough in payment processing services, and each new release is one step more advanced than its predecessors.

With interested individuals looking to bypass major banking institutions without compromising the integrity or conveniences of the payment processing services they provide, cryptocurrencies are the optimal replacement.

Litecoin is Accepted in the World of Online Gambling
Litecoin is Accepted in the World of Online Gambling

How to Withdraw with Litecoin?

One of the perks of crypto for online casino players specifically is the fact that you can also receive payments into your wallet, just as easy as making them. Access the casino site once again, select this as your payment method for withdrawals, and in this case, enter your wallet address in the designated box as the recipient account.

All that’s left is to specify the amount you would like to cash out and confirm the transaction, and you will see the funds available in your personal e-wallet account.

How to Deposit with Litecoin?

Online casinos which offer this cryptocurrency as a payment method are numerous nowadays. Just register for an account with them and head over to the Banking page to get things started.

First off, select the Litecoin icon as your chosen deposit banking option. At this point, you will be able to see your online casino account’s wallet address – it is a long alphanumerical sequence, so make sure to copy it straight from the source to avoid any mistakes.

Next up, head to your crypto wallet and set up a transfer – specify the amount of LTC you’d like to deposit, and paste your casino wallet address in the recipient box. Double-check for mistakes before confirming the transfer since all cryptocurrency transactions are non-reversible, just to avoid issues along the way. After that, all you have to do is approve the transaction, and see the funds debited in your online casino player account in no time.

Litcoin facts

CountryUnited States
FounderCharlie Lee

These Casinos Accept Litecoin Payments

Transfer Time, Fees, and Security

One of the benefits of Litecoin in comparison to its predecessor Bitcoin is the way transactions are facilitated across the system known as ‘blockchain’. Through proof-of-work contracts, other users on the Litecoin blockchain network will resolve the transfer and approve it, and at the same time get rewarded for their contribution with a set amount of the currency. Considering that it is built to be more scalable, it can handle a larger volume of transactions at greater speed, so expect to have transfers completed within seconds without using as much processing power.

This feature is also advantageous for the matter of security, since all transactions need to go through this process of approval by other participants on the blockchain. Hence, it eliminates the risk of double-use, and at the same time ensures convenience. The fact that users don’t share any personal info along the way is yet another perk, guaranteeing their anonymity even further, and the fact that the currency is not controlled by any one banking institution is just the cherry on top.

Fees are minute and second to none, so players are sure to get the most out of their designated bankroll. For facilitating payments on the network, participants are additionally rewarded with further coins, so even if volatility is putting you off, these pros certainly outweigh it in terms of player satisfaction.

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The History of Litecoin

Litecoin is one of the earlier releases, when this concept was still being introduced across marketplaces. Its foundations are noted in the invention of the first official cryptocurrency Bitcoin, which established and promoted the key features – anonymity, decentralization and security of payments. Intrigued by the concept, Charlie Lee working at the Google offices at that time came up with an idea that was primarily intended for in-house use. However, due to its great functionality and the popularity it acquired, Litecoin was released to the public shortly afterwards.

While volatility is a familiar concern for all cryptocurrency owners, Litecoin additionally showed great progress in this regard. It started trading at a portion of a dollar, only to reach its $1 billion mark by 2015, only a couple of years after its invention.
nd with the online gambling industry still posing a major issue for legislators worldwide, such a non-traceable and secure payment method was bound to be put to good use soon enough. Nowadays, there are a range of crypto online casino operators listing it as an available payment method – all you have to do is get your coins and start playing and winning. Like any other currency, you can find it at specialized currency exchange platforms; just make sure to seek out a suitable crypto wallet that meets your preferences, store it there and you’re ready for play!

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