Litecoin Online Casinos

Litecoin is one of the most popular cryptocurrencies after Bitcoin, and the number of Litecoin online casinos out there constantly increases.

Online Casinos Accepting Litecoin

Bitcoin, as the original cryptocurrency, kicked off the idea of a decentralized payment system. Over time, more and more people started to like this idea, which led to not only an increased number of bitcoin users but also other tech savvy individuals developing their own cryptocurrencies. Litecoin is one such invention.

What is Litecoin

Created in 2011 by Charles Lee, Litecoin (LTC) is one of the strongest existing cryptocurrencies apart from bitcoin. It is based on the same underlying blockchain technology that's been adapted in certain aspects. As with every cryptocurrency, there is a limited number of Litecoins in existence, and that number is 84,000,000 (as opposed to 21,000,000 BTC).

Charles Lee, a former Google engineer, was inspired to create Litecoin as he wanted to improve bitcoin. He was partially successful, as he managed to reduce the mean block time (the amount of time required to generate a block) to 2.5 minutes from the original 10 minute.

The Application

Litecoin is used similarly to bitcoin, although it may not be quite as popular yet. Litecoin gambling is one of the main applications, alongside other uses, such as paying for goods and services with the sites that accept Litecoin.

One of the reasons there is a growing number of Litecoin casinos is exactly because of the faster transaction times in comparison to bitcoin. LTC blockchains can handle a bigger number of transactions at the same time, and the merchants (online casinos accepting Litecoin) only have to wait 2.5 minutes for any individual transaction.

Acquiring Litecoin

Like with most cryptocurrencies, there are two ways to acquire Litecoin. The first, harder one, is directly through the process known as mining. Mining Litecoin is easier and less demanding than mining bitcoins, but it is still a complicated process that requires a lot of time and proper equipment.

The other, more suitable way for someone just looking to acquire some Litecoin for gambling, is to simply buy it. It may be a bit more difficult to buy Litecoin than bitcoin, due to the former not being as popular or established yet, but it is far from impossible.

If you already have some BTC, you can easily exchange it for LTC at a number of coin exchanges like BTC-e or Kraken. If you want to buy LTC for cash, however, it will depend on your location. For the most part, you'll be able to use one of the bigger exchanges, but you'll need to wire them the cash directly. In general, it might be easier to buy some bitcoins and exchange them for Litecoin.

Litecoin and Gambling

Although LTC may not be as popular as bitcoin, there are still quite a few Litecoin online casinos out there, which you can see in the updated list found on this page. 

Buyer Beware

One thing to keep in mind that the value of all cryptocurrencies isn't set in stone and Litecoin can be quite volatile at times. This can work both ways, but if you are risk-averse, we recommend you don't keep big amounts in Litecoin unless you absolutely have to.

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