Litecoin Casinos Review – Safety First!
Even though it doesn’t make the news as often as Bitcoin, Litecoin is still one of the most popular cryptocurrencies. It’s also the second-oldest cryptocurrency after Bitcoin.
Litecoin was made, as its name suggests, to fix some of what people thought were problems with Bitcoin, such as slow transaction processing times and mining monopolies. Bitcoin has become a “store of value,” while Litecoin is designed to be used in everyday transactions.
- About Litecoin
Litecoin, which was one of the earliest “altcoins” (a term used to refer to cryptocurrencies that are not Bitcoin and sometimes Ethereum), was developed by Charlie Lee, who had previously worked for Google.
- Safety and Security
A Litecoin wallet acts as a go-between, letting its owner send and receive funds without revealing their identity to the receiving or sending websites. Those who spend a lot of time playing games, shopping, or conducting business online will appreciate this added layer of protection.
- Liecoin safety and security in online casinos
Concerns over legality and safety should be top priorities when selecting an online casino. This is because when you first sign up for an account at a new casino, you will be required to provide personal information and identification credentials. You may play completely anonymously using Litecoin; you only need to link your Litecoin wallet.
- How to know which casinos are safe?
Always check for KYC, GDPR, and other licensing before you deposit money in any online casino.
- We only promote safe and regulated casinos
Our team of online casino experts will only recommend the most reputable and stringently governed casinos available in your region for your peace of mind.
Some of our reviewed casinos that are using Litecoin as a payment method are:
| Did you know? |
|---|
| Cryptocurrencies help a lot of players in the UAE play safely and anonymously. |
How to Use Litecoin in an Online Casino?
Three simple actions are required to make a deposit at your preferred online casino:
- Create a Litecoin wallet
- Add money to your Litecoin Wallet
- Deposit money on your favourite site using your Bitcoin Wallet.
Are there any fees when depositing and withdrawing at a Litecoin Casino?
Concern over transaction fees is a common source of unease for players. Fortunately, most casinos no longer charge players to make deposits or withdrawals, a major improvement for the gaming industry as a whole. With Litecoin, you may play at any online casino without worrying about being overcharged. However, the Litecoin exchange does charge a small fee for trading. In general, fees range from 0.75% to 1%.
| Casino | Deposit Fees | Withdrawal Fees |
|---|---|---|
| Rabona | 0% | 0% |
| BetFinal | 0% | 0% |
| Bet O Bet | 0% | 0% |
| LuckyDays | 0% | 0% |
| Dafabet | 0% | 0% |
How to place a deposit and withdraw your winnings using Litecoin?
With your newfound knowledge, you’ve decided to adopt Litecoin as your preferred casino currency.
Open a Litecoin Wallet
A Litecoin wallet can be compared to a PayPal account. Your bank account or credit card can be used to fund your wallet, and then you can use that money to buy things online or fund your account at an online gaming site. The key difference is that Litecoin can be deposited into the wallet and spent instead of cash. The process of creating a Litecoin wallet is identical to that of a PayPal account. If you stick to the provider’s guidelines, you’ll have no problems.
Deposit Money into your Litecoin Wallet
The next step, after creating an account, is to fund it. You can fund your Litecoin wallet using a debit or credit card or connect your Litecoin wallet to your bank account. Choose whichever of these you like better, as they all serve the same purpose. You may be able to fund your Litecoin wallet with a credit card, a bank account, or even PayPal.
Deposit Litecoin into the Casino
To begin playing at an online casino, as soon as funds are available in your Litecoin wallet, you must first deposit funds into your wallet. To make a Litecoin deposit, visit the casino’s deposits page and select the Litecoin icon. Only the specifics of making a deposit will be provided to you. You should have your funds available to play with on the site within a few minutes of the transaction being approved.
| Did you know? |
|---|
| There are two applications for currency. Both a fixed number of currency units and widespread acceptance of their usage as mediums of trade are essential for a currency to function. |
Solutions to Common Issues when using Litecoin at an Online Casino
Learning about cryptocurrency may take some time, so don’t worry! You’re not here to engage in cryptocurrency trading; you’re merely using this payment method to improve your time spent playing games online.
- I can’t find MasterCard as a payment option for my Litecoin Wallet
If MasterCard isn’t shown as a payment option in your preferred Litecoin wallet, then perhaps that wallet’s service doesn’t support MasterCard. It’s always a good idea to check in with customer care to make sure you aren’t missing anything.
- I think I may be a victim of fraud. What should I do?
Most financial institutions recommend getting in touch with the card-issuing bank if you have reason to believe you have been the victim of fraud. You can also contact Visa or MasterCard by calling their toll-free helpline. However, since Litecoin Wallets are so safe, it’s improbable that your private data has been stolen.
- I made a mistake with my deposit. Can it be refunded?
It’s important to check to see if any terms and conditions cover you if you’ve made a mistake with your deposit before contacting customer support for further guidance.
| Did you know? |
|---|
| The developer of Litecoin, Charles Lee, sold off the majority of his assets in the cryptocurrency in 2017, citing a “conflict of interest.” This caused some investors to lose faith in Litecoin. |
Pros and Cons of Using Litecoin at Online Casinos
We have found that utilizing Litecoin, like other things in the world, has both benefits and drawbacks.
| Pros 👍 | Cons 👎 |
|---|---|
| It is decentralized. | Litecoin goes up and down. |
| There is no risk. | It’s still being worked on. Even though the Litecoin network has been around for years, it is always changing. |
| Private. Your Litecoin wallet doesn’t reveal who bought what. | It’s progressing. The Litecoin network is continually developing, even after years. |
| It is quick. | It can’t be traced. |
| Transaction fees are low. | |
| It won’t go up in price over time. | |
| Not always is it taxed. |
Litecoin vs. other payment methods
How does Litecoin compare to other online casino? Does Litecoin as a payment method have more features than popularly used methods?
| Feature | Littecoin | Pay-by-Phone | Bank Card | Apps (ie. PayPal) |
|---|---|---|---|---|
| Security | ✔ | ✔ | ✔ | ✔ |
| Anonymity | ✔ | ✔ | ✖ | ✖ |
| Speed | ✔ | ✖ | ✖ | ✔ |
| Did you know? |
|---|
| Online payments with Litecoin are cheaper and faster. Bank transfers and credit card payments have large service costs, but Litecoin transaction fees are modest. |
Are you ready to set up your Litecoin wallet?
Litecoin was made to be used on the Internet, where it all began. So, this digital currency is a nearly perfect way for online gambling sites to handle money. People didn’t have many choices before bitcoin, though. But now that we have digital cash, we don’t need institutions like credit card companies, banks, and payment processors that are hard to work with. Litecoin doesn’t need any of these things because it is made to work best online. This ensures that privacy, security, efficiency, and ease of use are all very high.
Frequently asked questions
