At mBitcasino, we have a soft spot for Litecoin (LTC). Why? It’s like the underdog of the crypto world—not as well-known as Bitcoin or Ethereum, but still considered one of the best altcoins for online casino gaming.
Litecoin’s popularity stems from its lightning-fast transaction times and low fees – it even beats Bitcoin in these areas! So, it’s no surprise that many players prefer to use LTC for their online gambling needs.
Using Litecoin, you can play some of the best video slots around including award-winning titles such as Choco Reels, Elvis Frog in Vegas, and Hit Slot 2023 among many others. If you prefer, you can use your LTC to play popular table games whether in a live or virtual format. You can even play top live casino gameshows including Cash or Crash, Boom City, and Crazy Time!
Are you somebody that likes to play casino games with Litecoin or are you trying to find out more about this popular cryptocurrency? Either way, you’re in the right place as this Litecoin casino guide will tell you all you need to know. We cover everything from the history behind Litecoin, its pros and cons, and how you can use it to deposit and withdraw at online casinos.
How Life Began for Litecoin
The life of Litecoin first began in 2011 when Charlie Lee set in motion his plan to create an efficient and suitable alternative to Bitcoin. Lee, who previously worked as a computer scientist for Google, wanted Litecoin to cater to a different segment of the market rather than go head-to-head with Bitcoin.
Since then, Litecoin has consistently been one of the most used altcoins – especially at online casinos. To this day, it has maintained its popularity and is used by many online casino enthusiasts as a way to deposit and withdraw funds from their casino accounts.
Although Litecoin shares similarities with Bitcoin, it has a few advantages over the number one cryptocurrency. For one, it is easier to mine as, unlike Bitcoin, you do not need special hardware to mine the cryptocurrency. Another benefit Litecoin has over Bitcoin is its transaction speeds. Transactions will usually complete within a couple of minutes making it at least twice as fast. Just remember that these speeds can differ depending on how busy the network is. At worst you may have to wait 5 to 10 minutes for a transaction to complete. It is never longer than that, however.
Today, Litecoin is a cryptocurrency that is widely accepted at the best cryptocurrency casinos including mBitcasino. Players can use the crypto to play video slots, jackpot slots, virtual table games, and even live casino gameshows.
Pros and Cons of Litecoin Betting
No cryptocurrencies are the same and that is why we let you choose from a number of them when playing here at mBitcasino. Some will have faster transaction times for example, while others might have lower fees.
Pros of Litecoin:
First, let’s take a look at the pros of Litecoin and why so many people use it to fund their online gambling.
1. Fast and secure transactions: When you’re in the mood to play the latest video slot or take on the dealer in blackjack, you do not want to wait around for your deposit to hit your casino account. That is one of the biggest advantages of using cryptocurrency. Transaction speeds are much faster when compared to fiat currencies. Some are faster than others two and Litecoin is certainly up there with the fastest. Additionally, because Litecoin is a decentralized cryptocurrency, your transactions are secure and anonymous, which can help protect your personal and financial information.
2. Lower fees: Another reason people enjoy using cryptocurrencies is lower fees. No middlemen are taking their cut of a transaction as there are with fiat currencies. Litecoin is one of the cheapest cryptocurrencies in terms of fees. Currently, you can expect to pay around $0.0070 per transaction.
3. More accessible: Bitcoin is the most accessible cryptocurrency but Litecoin is another that many online casinos now accept for deposits and withdrawals. It is also easy to purchase as you will find Litecoin on most cryptocurrency exchanges. You just need to get a crypto wallet you can use to store your LTC.
4. Lots of LTC-friendly slot developers: You’re never far from good quality casino action when using LTC as this cryptocurrency is supported by many developers. For instance, at mBitcasino, you can play slots and other games from the likes of BGaming, Lucky, Betsoft, Spribe, Pragmatic Play, Truelab, Booming, KA Gaming, Onlyplay, Endorphina, Belatra, Mascot, Wazdan, Amatic, Evolution, Ezugi, GameArt, Nolimit, Platipus, Zilion, Evoplay Entertainment, MrSlotty, Pragmatic Play Live, Spinomenal, and Habanero.
5. Provably Fair: Another benefit of playing at a Litecoin casino is the provably fair algorithm. The Provably Fair algorithm is becoming increasingly popular among players who are switching to LTC casinos, mainly due to the ability to manually record the outcome of each session. Some players are sceptical of Random Number Generators (RNGs) and rightly so. They prefer to use the provably fair system that lets them check for randomness themselves.
The ‘Provably Fair’ algorithm is a reliable alternative to RNGs and is used by all cryptocurrency games, including those that accept Litecoin bets. Whether you are playing LTC video slots, virtual tables, or any other virtual casino games, the ‘Provably Fair’ mechanism allows you to verify that the results of your session were random, correct, and fair.
The way this works is that you initiate a casino game session, which creates a ‘server seed’. This seed is encrypted by the ecosystem, and a ‘client seed’ is sent to your session. The game uses the ‘server seed’ and your ‘client seed’ to generate a new number, which determines the outcome of the round, spin, dice roll, or other events.
The results are then stored in the blockchain ecosystem. After your session is completed, you can view the results along with the ‘server seed’ and ‘client seed,’ allowing you to verify that the outcome was fair and aligned with the predetermined outcomes. In short, provably fair ensures that you get a fair deal on every spin!
Cons of Litecoin:
For balance, let’s take a look at some of the cons of Litecoin.
1. Volatility: As you will know if you have traded cryptocurrency before, they are highly volatile. Litecoin is no different in that regard. The value of LTC can increase or decrease significantly within a short space of time. For that reason, it is not always easy to understand the true value of each bet you place.
2. Limited acceptance: While Litecoin is one of the most accepted cryptocurrencies at online casinos, it is not yet as widely accepted as fiat currencies. Of course, here at mBitcasino, we do not accept the latter – so you will have no problem using your Litecoin (LTC).
3. Learning curve: If you’re not familiar with cryptocurrency, using Litecoin for betting can be a bit of a learning curve. You first have to find an exchange you can use to purchase LTC and a wallet you can use to store it. Once you’re used to it, however, using Litecoin or any other cryptocurrency for casino gaming becomes a breeze.
While there are small downsides to using Litecoin, the positives greatly outweigh the negatives. In fact, once you start using this cryptocurrency, or any crypto you will wonder why it has taken you so long. You will wish you tried crypto casino gaming years ago rather than having to put up with the constraints that come with fiat currency gambling. Still, better late than never, right?
Where Can You Play Litecoin Slots?
The good news is that you do not need to go anywhere if you want to play slots, table games, and more using your Litecoin cryptocurrency. You’re in the ultimate place already. While other online casinos allow you to place bets using your Litecoin, we will not apologize for believing we are the best.
That said, you do have the option of playing at many cryptocurrency casinos. Just make sure you do your research to establish how trustworthy a platform is. Plus, you will want to establish the other benefits of playing on a particular platform. Perhaps it has a good welcome bonus or a lucrative VIP program? Maybe it offers a great selection of crypto-ready casino games such as slots, table games, or live games.
How to Use Litecoin at an Online Casino?
Using Litecoin or any other cryptocurrency for betting is easier than you might think. Even if you’re new to cryptocurrencies, you will quickly get used to the process of depositing and withdrawing Litecoin.
Find an online casino that accepts Litecoin
Well, you are already at the best one around. At mBitcasino, we have given people the ability to play Litecoin slots, virtual table games, and live dealer games for close to a decade. While other crypto casinos out there accept Litecoin, you’re better off staying here and using that crypto to play the top-notch casino games we have available. Besides, not all crypto casinos are trustworthy, so it is best to stick with us if you want a safe experience.
Buy and store Litecoin
Of course, you cannot bet with Litecoin unless you have some in a Litecoin wallet. So, do a bit of research before choosing the wallet you want to use. Once you have one, you next have to go and purchase some Litecoin (LTC). There are many cryptocurrency exchange sites you can use for this. Simply choose one that appeals and purchase some cryptocurrency you can store in your Litecoin wallet.
Load up your casino account with Litecoin
The next step is to top up your online casino account with the Litecoin you just purchased. This step is different depending on the casino you choose but the process is usually similar for most. Just go to the cashier and choose Litecoin as your deposit method. Usually, you can either scan a QR code or you can just enter the Litecoin wallet address for the casino. Then you just need to input how much you want to deposit. By the way, make sure you check out any bonuses available before you deposit. You might be able to find even more value for your deposits. This could be in the form of a match deposit, some free spins, or like here at mBitcasino, both!
Start playing Litecoin slots or other casino games
Now that your account is loaded up with some LTC, you’re free to enjoy the crypto-enabled slots, table games, and live casino games your chosen cryptocurrency has to offer. You get to choose slots from many different development companies that have optimised their games to support the LTC cryptocurrency. Plus, many more are doing this with every passing week.
Why Should You Use Litecoin Betting?
There are so many reasons you should consider LTC as a cryptocurrency at your preferred Litecoin Casino USA. You can catch most of them in the pros and cons section above. However, in short, you can expect lightning-fast transactions and some of the smallest fees of all crypto coins.
On top of this, numerous software developers now support the cryptocurrency meaning you can choose from an increasing number of video slots, RNG table games, or live casino gameshows.
Now that you know and understand the true benefits of Litecoin, why not go and try it for yourself here at mBitcasino? Simply create an account (if you do not already have one), load it up with LTC and go check out some of the games we have. Plus, make sure you check out all our bonuses and promotions. We have a 3-part welcome bonus, reload bonuses, tournaments, and more! We even have a refer-a-friend bonus you can take advantage of buying bringing your other LTC friends along with you!
