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With the presence of casinos accepting cryptocurrencies, many players choose this option for the sake of not disclosing their banking details. Litecoin is a cryptocurrency which means that it is a virtual currency, secured by cryptography. The software security makes it nearly impossible to counterfeit this type of currency.
Using Litecoin for gambling payments is not only a lot more secure than traditional transaction methods but also more convenient. Read this article to have an understanding of how to play at the best legit Litecoin casinos.
*This offer is not available for Ontario players.
The first step to setting up a Litecoin account is to go to the official website. The next action that you need to take is to download the Litecoin core. Once the installation process begins, you will need to follow the prompts of the setup wizard.
These prompts appear automatically on your screen. You can then select where you would like this data to be stored on your device. The blockchain data will then be synced. Once the data synchronizes, you will need to set up a password. This setup can be done by selecting the settings tab and then encrypting the wallet.
For safety, you will need to back up your wallet. This backup should be done to an external, offline device.
When selecting a provider, you will want to ensure that you choose one of the best legit Litecoin casino options. Be sure to check that it is a secure and verified online casino for your safety. Once you have selected a casino, follow the sign-up prompts and select Litecoin as your transaction method.
You will need to supply your public Litecoin address. The next action is to press the deposit button and copy the QR code of the casino into your wallet. Lastly, you will need to confirm the amount of Litecoins for transfer.
The transfer into the casino account should only take a few moments. At this point, you are able to access the games of the Litecoin casino and begin playing just like after making any other deposit.
Some of the best Litecoin casino providers will allow you to select your withdrawal method and complete the transaction within ten minutes. Some providers, however, take extra security precautions and can take up to several days to process.
Litecoin users can enjoy several awesome bonuses at top-rated online casinos that accept the payment method. Depending on the site, many online Canadian casinos offer a wealth of different welcome bonuses with the payment method. Most of these are along the lines of offering a match deposit bonus coupled with some free spins. It's worth pointing out that Litecoin deposits don't run quite as high as bonuses found attached to other payment methods and that all bonuses will be given in LTC.
Litecoin uses a unique protocol to encrypt the blockchain transactions. Due to this, the time of withdrawal and deposits occurs much faster, and this also allows the transaction fees to be smaller.
|📅 Founded||7 October 2011|
|🏠 Headquarters||MA, United States|
|🗺️ Area served||Worldwide|
|🤵 Key people (CEO)||Philip McHugh|
|💳 Products||Lite Coin|
|💰 Market Cap||$9 billion: 2021|
|🧑🤝🧑 Number of employees||~30|
Performing transactions with Litecoin is secure. By encrypting your wallet, you protect your assets. Before spending any Litecoins, you need to enter your password. Litecoin wallets supply you with both your public address and your private keys. Your private keys are used to authorize your transactions, while your public address is used for receiving payments.
When depositing to an online casino, the provider does not usually charge a fee. However, a few small ones will have to be paid to cover the mining costs. These costs need to be paid so that the transaction can be added to the blockchain.
In most instances, deposits from Litecoin are really quick, completing in under ten minutes. Withdrawal times, however, vary from one provider to the next. Withdrawing can take anything from ten minutes to several days to be completed.
Before depositing with Litecoin, you must have enough LTC in your wallet. Then, accomplish these 6 steps at the casino and begin to play.
Step 1 – Create a free account or log in with user details.
Step 2 – Navigate to the depositing function.
Step 3 – Scroll down and pick up the cryptocurrency column.
Step 4 – Then, choose Litecoin from the drop-down menu.
Step 5 – Complete the form on the amount of money and confirm the transaction with the button.
Step 6 – Copy the address to your wallet and pay or make it via a QR-code. It usually takes some time to transfer the deposit to your balance section.
Step 1 – Stay logged into your account and navigate to the banking option.
Step 2 – In most casinos, the cryptocurrency column is located at the bottom of the list, and you need to scroll down to find it and click on it.
Step 3 – After that, choose the exact crypto from the pull-down menu.
Step 4 – At last, fill out the form with the number of funds and the address of your wallet. Press “Withdraw” to finish the action and wait no more than 24 hours to get the BTC.
Litecoin is one of the established cryptocurrencies on the market, often referred to as the Bitcoin’s little brother. It provides swift and convenient payment for online gaming while maintaining the customer’s privacy.
Litecoin is another good payment method available to Canadian players at many top online casinos. It is a cryptocurrency like Bitcoin, which means that it offers anonymity to players and it is also highly secured. It works on Blockchain technology, and you'll need a crypto wallet to manage it. Concerning the processing speed, many casinos that support Litecoin process transactions quickly. Usually, no transaction fee is charged when using the payment option, but in some cases, players may pay a small fee to cover the mining cost.
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