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Litecoin – Payments at Online Casinos
Litecoin is a cryptocurrency that has grown in popularity in recent years. Like its better-known big brother, Bitcoin, Litecoin is a decentralized currency. This means that there is no central bank that controls the money and that it relies on its online network of users to maintain value. Cryptocurrencies like Litecoin have become increasingly popular with online gambling sites in recent years, with more and more sites offering it to customers as an option for depositing and withdrawing funds. The value of these coins is constantly changing and more and more gambling sites are starting to get in on the act. They are also very well encrypted, which provides an extra level of safety for players and casinos alike.
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More information about Litecoin – Payments at Online Casinos
Making deposits at an online casino using Litecoin is a slightly different process than using more traditional methods, but it is easy once you get your head around it.
In order to use this type of currency, you will first need to set up a Litecoin wallet. This is just like any other crypto wallet and it is where you will collect and keep your coins. The easiest way to do this is by creating an account with Uphold.
Once you have done this, you can head on over to your chosen online casino, go to the cashier section, and select the deposit option. The casino will generate an address for you and you must then copy this into your Litecoin wallet and send the transaction. The transaction should take no longer than a few minutes, though, it is nearly always instantaneous.
If you’ve been lucky enough to win some cash and you want to withdraw to your Litecoin wallet, then the process is nice and easy. Simply head over to the cashier section of your casino and select Litecoin as the withdrawal option.
You will then need to enter the address to your crypto wallet and select the amount of money you would like to send over. This is a very straightforward process and it usually only takes a matter of minutes for it to be completed. You can then check your wallet to ensure the funds have arrived safely.
The limits and fees that are put in place at Litecoin gambling sites are going to depend on the individual website itself. You can find out this information on the casino’s deposits and withdrawal page. Furthermore, a small fee is applied to every crypto transaction. These fees depend on how busy the blockchain is.
Most online casinos will have a minimum and maximum deposit and withdrawal limit. The minimum is typically €10 for both deposits and withdrawals, though, some casinos may offer less. Maximums will depend entirely on the casino that you are using.
With Litecoin growing in popularity, it should be no surprise that many sites now offer a range of promotions and offers to customs using the cryptocurrency.
The most common type of offer a Litecoin user is going to encounter is a welcome bonus. These are bonuses offered exclusively to new customers and often include things like matched bets, deposit bonuses, or free spins.
With a lot of casinos actively trying to encourage the use of cryptocurrencies on their websites, referral bonuses are also becoming increasingly popular at Litecoin casinos. These are bonuses offered to customers who refer another user to the casino.