Litecoin is really big these days and it’s highly unlikely that an online gamer, novice and expert alike, has not heard of Litecoin (LTC). Since its inception in late 2011, it has soared to humongous heights. With an astounding experience and service of 6 years Litecoin has been able to prove its mettle amidst the competitive world of cryptocurrencies. So much so that it falls under the top 10 internet currencies, way ahead than 1656 of other digital currencies. It was created by Charlie Lee, a former Google employee who stated that Litecoin was not created to replace Bitcoin but to complement it.
List of Online Casinos Using Litecoin
What is Litecoin?
Litecoin, widely speculated to be the ‘silver to bitcoin’s gold’, is a peer-to-peer internet currency and like every other cryptocurrency, Litecoin is also an open source global payment network which is completely independent of any intervention from the government bodies. It caters to the people’s need for instant and little to no cost payments, to anyone in the world.
Often called LTC, it is programmed in C++ and was released in October 7, 2011 under the MIT/X11
Highly complex, powerful and reliable mathematical algorithms enable people to carry out transactions and control their finances pseudonymously or sometimes, wholly anonymously.
It also offers a little something extra in the form of improved storage efficiency.
And its blockchain technology empowers it to handle massive transaction volume, more so than its infamous counterpart— bitcoin, with an even faster transaction confirmation time.
Other factors that attribute to Litecoin’s success are stellar industry support, trade volume and liquidity.
The aforementioned features are a clear indication of Litecoin’s proficiency and makes it a reliable and proven medium for commerce, online gaming and online gambling casinos.
Wallet encryption is another attractive feature that falls under the ambit of Litecoin. It safeguards the user’s wallet from malicious threats and dubious intent of outsiders. Owners can keep track of their transactions and account balance, however, you are required to enter your password to secure entry and spend your Litecoins.
Gambling and Litecoin Casinos
Litecoin casinos, like other innumerable cryptocurrencies, is a means of sending and receiving digital payments in a swift and safe manner. All of this led to the creation of Litecoin Casinos.
Although, Litecoin Casinos are considerably less in number than Bitcoin Cash casinos, however, they come a close second. And just like Bitcoin Casinos, Litecoin Casinos accept deposits, withdrawals, or a combination of both.
A study, through a perennial assessment, found out that Litecoin casinos are trustworthy, secure and pays in accordance — within a specified time frame.
With time, these casinos have been able to earn massive fame and a stellar reputation. However, the reputation is solely based upon the number of satisfied players who are indulging in the gamble repeatedly rather than longevity.
Furthermore, Litecoin is widely used for gaming, slot, poker, dice, betting, blackjack, roulette so on and so forth.
When everything is said and done, one can say that Bitcoin is the king of online casinos whereas Litecoin is second-in-command.
How Does Litecoin Gambling Work?
To gamble using Litecoin, having a Litecoin Wallet is a necessary prerequisite. You can simply buy Litecoin with your own normal currency, say, for example, with USD.
Now that you are a part of Litecoin blockchain, it means you have an ‘address’ to carry out the transactions. Whenever you wish to withdraw Litecoin from a gambling site, you’ll be using this ‘address’ similar to this one Lg2jM3veMJ5YC76YbAwYPdrvvQG519bfo9
However, to make a deposit, your address is not enough. You need to find the gambling site’s Litecoin address first and then you can deposit LItecoins using this address.
The functioning is very much similar to Bitcoin except for the fact that unlike Bitcoin, the transfer with Litecoin is completed within a few seconds.
The Future of Litecoin
Some experts and cynical naysayers are of the belief that Litecoin will go to zilch, it is not hard to guess that Litecoin will emerge only stronger as the year goes by.
However, at present, 1 Litecoin amounts to somewhere around 85 USD and experts claim that owing to its advantage over Bitcoin, it’s value and eminence is definitely going to shoot up.
After all, the transaction is lightening fast and the blockchain network is highly stable. Furthermore, it has not been inflicted by any security issues either.
But, not to forget that other cryptocurrencies are growing with the same zeal.
Therefore, despite the opinions and suggestions flooding from every direction, any prediction about cryptocurrencies will always be fraught with a sliver of uncertainty.