In this review we would like to present you our Litecoin Casino experience. We have focused only on the safest and best Litecoin casinos. We also explain the cryptocurrency Litecoin and reveal whether Litecoin payments are really anonymous.
Litecoin was for a long time only a niche currency, which was mined and traded in small circles. In recent years, a huge hype arose around the cryptocurrency and the price even exceeded the magic $380 limit in 2021.
Best Litecoin Online Casinos 2021
With every new online casino, such providers that have cryptocurrencies in their program also automatically come along. For a long time now, it is no longer just Litecoin that can be found in new online casinos. Ethereum, Litecoin and even Ripple are also included. Here is a list of the best new Litecoin casinos that we have tested:
Meanwhile, the cryptocurrency is already accepted by many casinos and thousands of stores around the world. There are even dedicated Litecoin casinos that specialize in this currency.
When it comes to security, private individuals who are not yet very familiar with the topic have to be careful. Because when creating a Litecoin account, a unique code is generated that you absolutely have to write down, preferably in physical form, in case your computer stops working. If you misplace the key, there is no way to get the Litecoins.
What is Litecoins?
The cryptocurrency Litecoin is a digital payment method. The basic idea behind the creation of the payment method was to remove the middleman, the bank, from any transactions. Because by means of Litecoins, transfers can be sent directly from the sender to the recipient.
The second important point of Litecoins is that data is not stored centrally, for example at the house bank. If the bank is hacked, you may have lost your money. Due to the decentralized storage in the Litecoin network, this is not possible, as there are countless backup copies all over the world. This is because every participant in the Litecoin network gets a copy of a complete transaction history.
The second important point about Litecoins is that data is not stored centrally, for example at the house bank. If the bank is hacked, you might have lost your money. Due to the decentralized storage in the Litecoin network, this is not possible because there are countless backup copies all over the world. This is because every participant in the Litecoin network gets a copy of a complete transaction history.
How to Make Deposit
Open customer account:To start, of course, you first have to open a customer account. Already here you will be asked how you want to make a deposit. LTC in this case stands for Litecoins.
Make a Litecoin deposit:After you have activated your e-mail address via a confirmation link, you can make a deposit. For this, you just have to click on the "Deposit" button. On the subpage, there is also direct information about the respective bonuses that are available for LTC payments.
QR Code:Below this information, there is a QR code as well as an individual string of letters and characters. By clicking on "Pay with Cubits", one is redirected to a page of the provider Cubits.
Finalizing the Litecoin payment:There, one now only enters the number of LTC that one wants to deposit. Now one only has to scan the QR code and the transaction is initiated via the Litecoin account. After a few minutes, the equivalent value is on the customer's account.
How long do payments with Litecoin take in Online Casino?
While transactions from e-wallets land on the customer’s account within a few seconds, depositing with Litecoins sometimes takes a bit longer. It is true that the transaction is visible in a few seconds in some cases. However, the transaction has to be confirmed 6 times on the network. On average, a block is generated every 150 second. At the latest, the money is then available in the online casino account.
How does a Litecoin wallet work?
As already mentioned, you can find different wallets on the website www.Litecoin.org, which you can download. Only if you have such a wallet, you can also withdraw Litecoins from the exchange.
What is very good is that the actual installation of the wallet is very simple. It is actually a bit more complex to find the wallet that really suits one’s needs. For this, you should simply take the necessary time to make a wise decision. How the download works is described in detail below.
- Selecting the Litecoin wallet: First, select the wallet. By clicking "Choose your wallet" you can choose the perfect Litecoin account for your mobile device or desktop PC.
- Source code visible? Depending on which wallet one chooses, one can also view the source code. This ensures perfect transparency and you can be sure that it is a reputable application.
- Selection of the exchange page: Litecoins can be obtained after the installation of the wallet via the LTC exchange page, which can also be found on the wallet website.
Litecoin payments can be made by anyone in a matter of minutes. Due to the decentralized nature of the coin, all transactions can be accessed and logged at any time.
Furthermore, it is also seen by some people as a security currency. If one’s own currency, for example the euro or US dollar, should crash, Litecoin is not affected. However, the cryptocurrency is also subject to huge price fluctuations. Therefore, caution is advised here.
More and more casinos recognize the legitimacy of Litecoins and accept the means of payment. We estimate that in a few years Litecoins will be a normal payment option, such as PayPal or Neteller.
As described above, Litecoin is only offered as a payment method by a few casinos.
There is also a disadvantage when betting at Litecoin casinos. Some casinos only allow small bets with the cryptocurrency because of the fear of sudden exchange rate losses. Thus, the online casino keeps the risk as low as possible.
Another minus point of the cryptocurrency is the constant price fluctuation. The cryptocurrency has gained and lost in the three to four digits on some days during the peak season. Before buying, it is best to review the previous course and news, so that you choose the right time to buy.
Basically, the payment method is based on the general anonymity on the Internet. This means that any transactions are hardly or not at all traceable for private individuals and companies. It only becomes interesting when IP addresses and/or Litecoin addresses (wallets) are known. Because then Litecoins can very well be assigned to a person or a company.
All transactions between two addresses are publicly and decentrally logged and permanently stored in the Litecoin network. This means that all transactions that have ever been made are and will always be traceable.
To date, the number of coins has decreased due to the high level of interest, while at the same time the value of all Litecoins in circulation is increasing. Since it is now much harder to mine Coins, it takes an immense effort to create the conditions for it.
Litecoins are obtained by the "miner" by solving a complicated mathematical problem via his computer. The coins act as a reward, so to speak. What were simpler algorithms at the beginning of the currency became more and more complex over time. The effort required to currently mine Litecoins is immense and virtually impossible for ordinary people. There are already huge mining farms in Russia and China.
How do people get Litecoins?
In addition to Litecoin mining, you can also buy Litecoins on exchanges such as Binance or Kraken.
The situation here is similar to the stock market, as Litecoin is subject to constant price fluctuations. Here, it is important to choose the right time to buy so that you can sell the currency at a later date at a profit.
Yes, there are now well over 1,000 other cryptocurrencies on the market. You can get a detailed overview on the coinmarketcap.com website.
When it comes to payment options at the casino, there are of course many other currencies available. Among the best known are EcoPayz, as well as the two e-wallets Neteller & Skrill. Of course, one must not forget here with the credit cards (VISA & Mastercard), Trustly and .