3 weeks ago

    Why more online casinos are adopting Litecoin as a payment option?

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      Online casinos are continually diversifying their accepted online payment methods. In recent years, crypto has surged in popularity and the top cryptocurrencies and altcoins are now accepted at many platforms, with Bitcoin, Ethereum and Litecoin being the top choices.

      Litecoin, in particular, has been adopted by a range of platforms, but what benefits does it offer as a payment method and why should you consider using it? Find out below, including the perks of LTC as a payment method, and how you can use it to make deposits and withdrawals at online casinos.

      Litecoin – A brief introduction

      Litecoin, or LTC as its listed on exchanges, is a P2P cryptocurrency that was initially launched in October 2011. It was one of the first coins to appear after Bitcoin, uses a modified codebase, and is considered a project fork of Bitcoin. Litecoin has one of the largest crypto trading volumes and is widely used for online payments.

      The benefits of Litecoin for online casino payments

      Aside from its wide availability, Litecoin offers a range of other benefits that make it suitable for online casino payments. You can find out more info about LTC casinos and how the currency works for online casinos at askgamblers.com

      Below, you can see the main benefits of using cryptocurrencies, including faster withdrawal processing speeds at online casinos, and a great range of payment-specific bonuses for new and existing casino customers. This usually includes deposit match bonuses for new players.

      Fast processing speeds

      LTC deposits at online casinos are typically instant, so you can start playing your favorite casino games immediately. This is due to the speed of LTC transactions, with an average at 50 transactions processed per second.

      Crypto casinos usually have low minimum deposit limits too for LTC, so you can play with as little as you want and don’t have to spend a fortune. Alternatively, there is typically a high maximum deposit limit too if you are a high roller.

      Excellent security

      Bitcoin and Litecoin are considered to be two of the most secure crypto payment methods, and cryptocurrencies in general offer excellent payment protection. The payments are typically anonymous which reduces the chance of fraud, and there is nonrepudiation of transactions which means that transaction data is listed on a public blockchain that anyone can view.

      The associated wallets or third-party crypto exchanges that are used have great security too and you typically need to use two-factor authentication to process your payments, which is one of the best authentication processes available. Simply put, when using Litecoin, it is unlikely that you will have any payment issues.

      Payment-specific bonuses and promotions

      Online casinos frequently offer payment-specific bonuses and promotions. These can be for new and existing customers and the most common is a deposit match bonus. This provides you with a percentage of bonus funds based on how much you deposit.

      Many platforms have specific deposit bonuses if you use LTC as the payment method. For example, a casino could offer a 100% deposit match bonus of up to $1,000, but if you use LTC, the bonus could be a 120% deposit match of up to $1,500. They essentially reward you for using Litecoin, which means you get more bonus money to play with.

      How to use Litecoin for online casino deposits

      There is a slightly different deposit and withdrawal process for Litecoin compared to fiat currencies. Due to how the cryptocurrency works, there can be additional steps required as explained below.

      1. Open the online casino in your desktop or smartphone web browser.
      2. Click on the “Register”, “Create Account” or “Sign Up” button.
      3. Complete the registration form as detailed. Usually, you have to enter personal information such as your name, address, email address, date of birth, and a username and password.
      4. Verify your account registration. This can be through an email verification link or an SMS code for two-factor authentication.
      5. Login to your account once it is authenticated.

      Once your account is created, there can be two different ways to deposit LTC. The online casino might provide the option to link your third-party exchange wallet, such as Coinbase or Kraken, directly to their platform. If so, there will be a step-by-step process to do this including authentication. You should then be able to directly transfer LTC from your exchange wallet to the online casino.

      Alternatively, they may simply provide their crypto wallet address. In this instance, you would need to logon to the exchange where you store your LTC, or your third-party wallet like MetaMask and transfer LTC to the wallet address provided.

      It’s important to get the address right as typically the online casino will not accept responsibility if your accidentally transfer crypto to the wrong address.

      For fast, secure and transparent payments, Litecoin is a top choice

      As you can see, Litecoin offers numerous benefits for online casino payments. Primarily, the excellent security and fast transaction processing speeds mean you have greater flexibility with your money. You can make deposits instantly and have fun gaming. At the same time, you shouldn’t experience any issues when withdrawing and there should be no payment processing fees.

      Don’t forget to look out for payment-specific promotions too that reward you for using LTC as a payment method. Before you register with an online casino, be sure to check their promotions page to see what offers are available for new customers.

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