Online Casinos Accepting Litecoin

South Africans like to study all possible investment opportunities before deciding to put their cash into something. It’s because of this research and the need to hedge bets that Litecoin has taken off as one of the strongest contenders in the cryptocurrency market.

As the other big names in the crypto landscape become more accepted by mainstream businesses and outlets other cryptos gain legitimacy as well, Litecoin is no different. As times change and horizons shift you’ll begin to see more and more online casinos accepting the cryptocurrency as a method to deposit and withdraw.

If you’re an investor in the currency you might already know a thing or two about it, join us regardless as we take a bit of a deep dive into the coin and see where its strengths lie, how you can use it at casinos and much more. Even if you’re playing with the idea of investing right now it’s a good idea to see what you could be getting yourself into.

 

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Benefits Of Using Litecoin

  • Uses blockchain technology so transactions are incredibly secure
  • As with most other cryptos, transactions are fast
  • Potential to see significant returns on investments
  • Can be a good buffer zone between your bank and your online casino of choice
  • Certain online slot developers create games that are crypto friendly

Any Disadvantages?

The disadvantage of using Litecoin is the same as investing in any other crypto or business, the market fluctuates regularly meaning you could lose the value of your investment. You should only ever put in what you’d be okay with losing because when it comes to the crypto game, nothing is guaranteed. If you understand and are okay with this risk then you’ll be fine but always know that one day you could be up and the next day you could be down.

How To Make A Deposit Using Litecoin At An Online Casino

When you’ve made and verified your account and you’re ready to make your first deposit you might feel a little overwhelmed at first. That’s a normal feeling to have, but if you follow our three simple steps you’ll be playing your favourite games in no time at all.

Step 1 – Selecting Litecoin

When you first click on that deposit button you’ll be greeted with a number of different banking options. Select Litecoin from the list and continue on to the next step.

Step 2 – Entering / Selecting Your Amount

After choosing your method you’ll be asked to enter in an amount you wish to deposit or select one of the predetermined amounts. Keep in mind that there are minimum and maximum deposit limits.

Step 3 – Confirmation

When you’re happy with the amount you wish to deposit click on the button to continue. You’ll be taken to a screen where you’ll be asked to enter in your wallet information. Follow the onscreen prompts to finalise your deposit.

How To Cashout Your Funds Using Litecoin

When you’re happy with the amount that you might have won playing some of your favorite games you might want to make a withdrawal from your account. If it’s your first time making a withdrawal from your casino account you might be asked to provide some documentation to prove that it’s really you. This could take the form of a photocopy of your I.D., passport or driver’s license, a photocopy of payment methods, a copy of utility bills or anything in between.

Step 1 – Selecting Litecoin

You’ll want to navigate to the cashier once again but this time click on the withdrawal option. You might be able to head straight there by navigating your account options. Once you’re on the right page select Litecoin.

Step 2 – Entering / Selecting Your Amount

After selecting your method you’ll be asked how much you wish to withdraw. Select one of the options provided or enter in your own amount (keeping in mind the minimum and maximum values).

Step 3 – Confirmation

When you press the button to continue you’ll be asked to provide your wallet account details once again. Follow the onscreen prompts. When you finish this process your transaction shouldn’t take more than a few hours to reflect.

History Of Litecoin

Litecoin was developed and created by a Google employee, Charlie Lee, in 2011. Lee later went on to become the Engineering Director at Coinbase, a cryptocurrency exchange platform. When it was first released it was almost identical to Bitcoin, the key differences being a lower block generation time and a greater number of coins.

The coin experienced its first major leap in growth in November 2013 when it jumped up 100% in 24 hours. To date the supply limit on Litecoin is 84,000,000 coins which is what drives the value of the crypto.

Litecoin is one of the more accepted cryptocurrencies available on the market. It is finding legitimacy along with Bitcoin and Ethereum.

Security

Litecoin, along with most other cryptos, uses what’s known as blockchain technology to process transactions. The blockchain makes transactions incredibly fast and highly secure. Account security is something that needs to be checked and monitored depending on which wallet you use to keep and trade your cryptos. 

FAQs

What’s the difference between Bitcoin and Litecoin?

The main difference is the speed of transactions. Litecoin tries to process every 2.5 minutes as opposed to Bitcoin’s every 10 minutes.

Why doesn’t every online casino accept Litecoin?

Cryptos are still relatively new, so as they become more accepted they’ll become more readily available to use at online casinos.

Is it wise to transfer all my casino winnings into Litecoin?

That is something you need to monitor to make a decision. The market is always changing so you might make gains or you might lose some of it.

Besides Litecoin, what are the other big names in the crypto market?

Besides Litecoin there is Bitcoin, Bitcoin Cash, Ethereum and Ripple.

Where do I begin if I want to use Litecoin at an online casino?

The very first step you need to take is deciding on a wallet to use, do the research and find the best one for you.