New Litecoin Casinos
Litecoin is one of the many cryptocurrencies available right now, and its popularity as a casino payment provider is increasing rapidly. Topping up your online casino account is really easy with Litecoin and transactions can be completed within a few minutes. It’s incredibly safe to use thanks to Blockchain security and you can send Litecoins all over the world, which is why more and more new casinos are accepting Litecoin as a payment method. Discover all the benefits of this cryptocurrency and find the best new Litecoin casino sites below.
New Online Casinos Accepting Litecoin
Litecoin Short Facts
|Security||Depending on the wallet used for the Litecoin Casino transaction|
|Min. Transaction||Defined by the casino|
|Deposit Fee||Usually no, but some casinos may apply a fee|
|Withdrawal Fee||0- 0.5%, some casinos may charge their own fees|
Using Litecoin at New Online Casinos
Choosing Litecoin at a new online casino makes for fast transactions when compared with other payment methods, meaning you can get on with your gameplay. It’s also incredibly easy to use once you familiarise yourself with the process, and you’ll find plenty of different games to play in Litecoin casinos- meaning more action and choice.
Due to Litecoin being a volatile currency there’s an element of risk involved with using it in a casino. Winnings of £50 on Monday could be worth more on Tuesday due to fluctuations, as what goes up can come down and winnings could also be worth considerably less.
Before starting your UK casino Litecoin adventure, you’ll need to do a bit of preparation and get a Crypto Wallet to keep your Litecoin’s safe. The good news is that there are plenty of providers online, and signing up with one is easy but make sure that your chosen wallet is accepted at your casino. Once you have set your wallet up, you’ll also need to join up with a Coin Exchange to be able to buy and sell your Litecoins.
How to Deposit with Litecoin?
At this point, we’d advise you to contact customer support before depositing at a new Litecoin casino UK, as the process can vary from each casino. Make sure you understand the procedure and query if there are any fees involved or deposit limits you need to be aware of.
Once you have made your first deposit, this will then become easier the next time you deposit.
Funds can be available on your Litecoin casino UK balance within a few minutes or they may arrive within the max wait time of 1 day, your chosen casino will then need to process the money which can add extra waiting time, unfortunately.
Quick Litecoin Casino Deposit
- Head to the deposit section and select Litecoin
- Make a note of the casino’s wallet address as you will need this to send your Litecoin’s to
- Write the casino reference number on your deposit, so that they know to allocate the funds to your casino balance
- Enter in the amount you wish to deposit and confirm
How to Withdraw with Litecoin?
For your first withdrawal with a Litecoin casino, we would advise you to check with customer support and let them guide you through the process. Similarly to depositing, check how long the withdrawal will take if there are any fees and anything else you may need to know.
Just a Few Easy Steps to Withdraw
- Go to the withdrawal section of your Litecoin casino and confirm the crypto wallet, to ensure the casino knows where to send the funds
- Enter the withdrawal amount and press confirm
How Safe is this Payment Method?
The Litecoin blockchain is a highly secure cryptocurrency storage system and operates as a digital ledger, its technology means transactions cannot be traced back to you as there’s no need to provide your name or any further details- so your transactions remain anonymous forever. This anonymity removes the risk of fraudsters getting hold of your details or any other company tracking your movements.
Even though the blockchain creates a safe and secure system, the environment around this can be flawed and individuals have lost their cryptocurrency from exchange hacks. With this in mind, it can be a risky way to store your funds when compared with a centralised bank with insurances and backups.
The wallet which you choose to use at your latest Litecoin casino can either be a ‘hot’ wallet connected to the internet, or a ‘cold’ wallet not connected to the internet and thus preventing hackers from gaining access to your funds. Research into the best wallet for your needs should be carried out before signing up.
Your chosen wallet will also be encrypted, meaning your account details are incredibly safe and only accessible with your own personal password.
Benefits of Using Litecoin
- Litecoin has a larger amount of coins in existence than Bitcoin for example, this stands at approximately 84 billion and means a greater profit margin.
- The transaction costs involved with Litecoin are considerably less than other cryptocurrencies and Litecoin also enjoys faster processing times.
- Litecoin is extremely flexible meaning you could use it to purchase other cryptocurrencies with and it’s compatible with most exchange platforms.
There are many websites out there offering assistance for Litecoin users, but to get the specific help you need with your account you would need to contact your wallet provider.
The main website for Litecoin is: https://litecoin.org/ and there is also a foundation for Litecoin available here: https://litecoin-foundation.org/support/ with a really useful forum and you can also contact Litecoin directly with the email address below.
Don’t forget that your new Litecoin casino customer support can also help you with any queries you may have on using your new payment option.
- Community Forum at https://litecointalk.io/login
- Email: [email protected]
Additional Information About Litecoin
Litecoin was initially created in 2011 by Charlie Lee, an ex-Google employee whose dream was to create a ‘better’ version of Bitcoin, and whilst Litecoin is very similar it does have its own unique benefits. Charlie is extremely active through social media and prides himself on his transparency when it comes to the performance of Litecoin.
- 4x more coins in existence than Bitcoin
- Anonymous transactions
- Decentralised currency
- Potential gains
- Popularity as a payment method is increasing rapidly at online casinos
- Transaction times could be slow, depending on how long it takes the casino to process funds
- Volatile currency
- Not yet as widely accepted as Bitcoin