Online Casinos offer Litecoin as one of the deposit options to play pokies and other casino games in real time from Australia. Litecoin is one of the cryptocurrencies which was launched in 2011 and is fork of Bitcoin. Like Bitcoin, Litecoin is based on an open-source global payment network that is not controlled by any central authority. Litecoin differs from Bitcoin in aspects like faster block generation rate and use of Scrypt as a proof of work scheme.
Why Litecoin is better than Bitcoin?
- Litecoin processes a block in 2.5 minutes, compared to Bitcoin’s 10 minutes
- The Litecoin blockchain generates blocks more frequently and so can handle a higher volume of transactions
Do you need to buy Litecoins before you make a deposit at online casino?
You need to buy Litecoins at online casinos to fund your online casino account to play real money pokies. For that you need to choose a Litecoin wallet that will hold your cryptocurrencies, such as Ledger Nano, Keepkey, Atomic, Electrum, Coinomi, or Loafwallet.
You can buy Litecoin via an exchange like Bitstamp.net or Coinbase.com.
In Australia you can buy Litecoins from:
- Swyftx Cryptocurrency Exchange
- Independent Reserve
First you need to create an account on a cryptocurrency exchange that allows you to buy LTC for Litecoins at online casinos. You’ll need to provide your email address and create a password to register for an account.
Many cryptocurrency exchanges only allow trading between cryptocurrencies and don’t allow the direct deposit of fiat currency, such as AUD, so you’ll usually need to own or buy BTC or ETH first. The exact process for depositing funds into your account varies depending on the exchange you choose.
The final step is to trade your chosen currency for LTC on the exchange. Once again, the exact process you need to follow may vary slightly depending on the exchange you choose.
Once you have your Litecoin ready, you can then choose to deposit via this method.
Transfer Litecoin, and in a few minutes, no longer than two hours, your account will be funded.
With Litecoin, you are using a cryptocurrency that operates via blockchain. Such payments provide a combination of privacy and transparency, along with security. Every transaction maintains player anonymity so that personal information is impossible to steal.
When your wallet is set up and ready to fund, buying LTC is actually quite simple. All you have to do is search for the currency within the wallet, which is set up almost like a stock exchange. LTC will appear, along with the current price of each coin. You should remember that Litecoin is traded on these exchanges, so the value of the coin is constantly changing. You can choose the amount of LTC you wish to purchase, and then with a couple of clicks, you will see the balance in your wallet.
How to make a deposit with Litecoin at online casinos?
- You need to visit online casino example Winward casino that accepts Litecoins to make a deposit to play real money pokies.
- Once logged into your casino account, go to the banking section for Litecoins at online casinos
- Select Litecoin as your payment method
- Specify the amount you want to deposit
- A unique wallet address will be generated
- Enter the address into your cryptocurrency wallet and confirm the transaction
- You should see the deposit in your casino account shortly
There are also online casinos that accept LTC and other cryptocurrency payments through e-wallets such as Skrill. To make payments this way, you will need to connect your cryptocurrency wallet with your e-wallet first.
How to make a withdrawal at casinos with Litecoins?
- To make a withdrawal at casinos with Litecoins simply from the casino homepage, click on the Cashier section and select withdrawal.
- Click on Litecoin as your payout request method and add the amount you wish to withdraw in the Amount box on the top right.
- You need to fill in your Litecoin address and any other instructions to verify your payout request. Click confirm via a telephone call or confirm via email. Once you are ready, click submit.
- Click Submit to begin the confirmation and withdrawal process. Litecoin promises to put money into your wallet within a 48-hour time frame, but it will usually appear in your wallet within two hours.
You must submit the following documents before submitting a withdrawal request:
• Valid government-issued photo identification card;
• Copy of a recent utility bill no older than three (3) months prior to the submission date;
• Front copy of the Card(s) used to fund the Account.
Prior to approving any withdrawal request, the online casino may request additional documents in order to prove the ownership of the cards used on the account and to confirm that the purchases were authorized by the card holder.
What games you can play at casinos with Litecoins?
Litecoins at online casinos you can play different casino as well as Litecoin games. Following are the most popular games that you can find at Casinos with Litecoins.
- Litecoins Blackjack: Blackjack, which is a game of collecting twenty-one points. Blackjack is a casino game between players and the dealer. To win, you have to get as close to 21 points as possible. If you reach higher score than the dealer without going over 21, you are the winner.
- Litecoin Dice: Dice is a traditional game where you throw usually six sided die in highest number possible or some special combination depending on dice game. For example craps is one popular dice game. In cryptocurrency gaming world some dice games have the goal of guessing if the number is over or under some chosen number. The payout is given on the basis on the probability of the correct prediction.
- Litecoin Poker: Poker is a 5 card game that combines skill, strategy and gambling. Depending on the variant, poker games can include betting rounds. In video poker you have the opportunity to discard one or more cards in exchange for new cards hoping to get a better hand.
- Litecoin Roulette: Roulette is a casino game where you spin the little wheel, as the game’s name in French goes. You can choose to place bets on single number, number combinations or for example red or black numbers. Depending on the wheel result, you can win up to 35 to 1 payout depending on the Roulette type. Practically all of the Bitcoin Cash gambling sites offer you many variations of this old classic game.
- Litecoin pokies: Pokie games in online casinos are based on old casino gaming machines which was also called one-armed bandits. They were run by one lever and you could win money if the reels hit the correct lines. Moreover practically all of the Bitcoin Cash casinos offer also pokies games.
- Litecoin sports and esports Betting: There is a lot of different sports to choose like Soccer, Basketball, Tennis, American Football, Baseball, Ice Hockey, MMA, Boxing, Volleyball, Handball, Cycling, Curling, Rugby Union, Rugby League, Cricket, Alpine Skiing, Biathlon and of course Litecoin e-sports betting!
Advantages of using Litecoins
Following are the advantages of using Litecoins:
- Litecoin transactions are 4x faster than bitcoin. It is the fastest payment method for online gambling.
- Litecoin’s all-time high value was $360.93, compared to over $18,000 for Bitcoin. Litecoin grew in value from $4.00 to $360.00 in only a year, and it stands to gain in value while you use it for online casino gaming.
- Like other cryptocurrencies, it isn’t tied to a central bank. Fluctuations downward are possible. Instead, Litecoin’s value is based on its current trading value on exchanges like Bitfinex, GDAX, OKEx, and Coinbase.
- Litecoin blockchain payments offer combination of privacy, transparency, safety, and security. You can see every transaction but maintain your anonymity. Identity thieves can’t steal your information.
Disadvantages of using Litecoins
- Litecoin was designed with Bitcoin pitfalls in mind, Litecoin is considered safer than its more famous cousin.
- Also the major drawback is that not all onlin casinos offer litecoins payments as Bitcoin is most preferred cyrptocurrency at online casinos.
What is the difference between Litecoin and Bitcoin?
Litecoin has a range of small but significant technical differences. You might think of it as the quarter to bitcoin’s dollar.
A supply limit of 84 million LTC vs 21 million BTC: The supply limit is the maximum number of coins that will be created. This finite limit is necessary for an altcoin to have value. The LTC supply limit is 84 million compared to bitcoin’s 21 million, so it’s up to four times more common. In November 2017, there were about 54 million Litecoin tokens in circulation and about 30 million left to mine.
2.5-minute vs. 10-minute block generation time: Litecoin blocks are generated four times faster than bitcoin blocks. The completion of each block confirms the transactions recorded in that block. Generally, this means Litecoin transfers can be done about four times faster than bitcoin transfers.
For any issues contact the online casino at their email or phone.