Introduction: Litecoin Casinos
In its constant quest for new players, the casino industry has always been quick to embrace the latest innovations and technology. Today virtually all online casinos will make the best efforts to find all sorts of gambling activities that can keep players playing. With so many online casinos all vying for the top spot in the hope of attracting more customers, they are all under huge pressure to remain competitive in the marketplace. Whatever new technology brings, the biggest casino players in the Industrial world will always be superfast to embrace them.
More recently, we can see this clearly with the introduction of cryptocurrencies. All casinos were very quick to adopt this form of payment, thanks to the ever-growing public interest and the popularity of virtual currencies. We all know that crypto transactions are probably safer and much more discreet than anything involving a credit or debit card. It goes without saying that this is a major point of appeal for online casino players who want to win the jackpot online.
For some time now, bitcoin has been the preferred cryptocurrency for both gamblers and casinos they gamble in, but an ever-increasing number of altcoins have caused many casinos to reconsider and take on other cryptos, especially Litecoin. When you head over to Omni Slots Casino, you can use crypto to deposit playing funds. If you’re a new player there, then they have a lovely welcome bonus of 150% up to €500 plus 70 free spins!
What Are Litecoin Casinos?
In its simplest form, a Litecoin casino is one that will allow the player to deposit and withdraw in Litecoin or LTC. If you search the internet, then you’ll find there are a number of casinos that exclusively support Litecoin, along with other conventional methods of payment.
So What is Litecoin?
Litecoin or LTC is one of the major 5 crypto-tokens that are becoming increasingly popular. You’ll see that LTC is quickly gaining huge momentum through the rise of other tokens like bitcoin, and have been at the forefront of the cryptocurrency scene for some time. Just like bitcoin, LTC is mined by a dedicated group of enthusiasts who have spent considerable sums on advanced setups of both software and hardware. Being a blockchain-based currency it’s completely decentralized, which means that there is no central body or central bank which can have a say in the currencies’ worth.
As with all cryptocurrencies that are mined, LTC blocks are awarded for the time and assets that they use. As such, the valuable LTC will come from the number of tokens that are made available on the marketplace. Unlike regular currency, which can be printed at will, cryptocurrencies are designed to be finite. In other words, once the algorithm has been completed, then all mining will stop, and there will only ever be a fixed and limited number of coins available to everyone.
LTC for the fastest currency that can be mined. In fact, a block is mined every 2.5 minutes. This is one of its primary points of appeal to cryptocurrency fanatics. You also should keep in mind that it’s on the blockchain, and the peer-to-peer nature of this coin makes it a very secure form of currency that also can guarantee secrecy.
Why Are LTC Casino so Popular?
As interest in cryptocurrencies continues to grow at an almost exponential rate, we can see that the popularity of Litecoin is tied in with this. There are a number of important factors that help make Litecoin such a popular choice with gamblers. Let’s have a look at some of them:
In comparison to some other bitcoin or crypto tokens, Litecoins allow casinos to be able to process payments much faster. As gamblers are always in a hurry to make deposits or make withdrawals, using Litecoin is the easiest method to speed up the whole process.
Because of this cryptocurrencies peer-to-peer nature, LTC eliminates the need for any middle man who might stand between you and the casino. With fewer mouths to feed, then Litecoin is going to save hugely on transaction cost, as well as any extra charges. Overall you’re going to find your casino payment cost and fees will be much lower if you make use of LTC.
You’ll find that LTC has become one of the favourite currencies for many organisations across the globe. That means it’s much easier to conduct cross border payments. There are no long waits for confirmation or verification, let alone having to go through the rigours of performing costly and time-consuming currency conversions.
Security and Privacy
Crypto payments using LTC are completely immutable. Because all transactions are valid and verified on a blockchain, this makes them incredibly secure. As the transaction details contain no identifiable information about you, then you may be sure that your privacy cannot be compromised in any fashion.
It’s an interesting point, but if the best casino site to play allows you to take home your winnings in LTC, it’s quite possible that you could just hold on to them for a long term investment. As you’re well aware, many investors see the value of Litecoin and other crypto’s increasing significantly as bitcoin has over the past few years. Technically this could result in even bigger gains than you made at the casino.
There are some other points to keep in mind when looking for Litecoin casinos:
- Look out for casinos that might charge an extra fee for allowing Litecoin payments.
- Make sure the casino offers both withdrawals and deposits in LTC.
- You should make the effort to contact customer support just to get a good feel of the overall service being offered to the casino’s customers.
- Keep an eye out for any exclusive bonuses that come from you using cryptocurrency. Many casinos will offer incentives such as free spins for crypto players. This is a great way to increase your jackpot winning chances.
- Make Sure All The Games Have Litecoin Support.
Finally, as we always say at jackpotfinder.com, please take the time to check and read through the online casino licence that’s available at the casino in question. Only gamble at sites with a reputable licence, like the ones issued by the Malta Gaming Authority or the UK Gambling Commission. Omni Slots Casino accepts crypto as a valid payment method for both deposits and withdrawals. They also have a Malta gambling licence, which makes the casino very trustworthy and secure.
Holding Cryptocurrency: An Investment or Gambling
When you look at any chart that measures the movement of cryptocurrencies over the last couple of years, one thing that will stand out, and that’s that this form of currency is incredibly volatile. This makes it a very risky form of investment. In fact, it’s difficult to use this as a day to day currency, as you never know how much the price will rise or fall over the period of 24-hours. This means you could technically be richer in the morning and poorer in the afternoon, but still hold the same amount of crypto.
Recently the price of Bitcoin tanked over 30%, meaning that many people lost any gains they might have made. Remember with investing, that if you lose 50%, then you’ll need to make an extra 100% to make up the difference. We tend to think that if you’re investing in cryptocurrencies, then in effect you are actually gambling. To that end, when you’re gambling in a casino using Litecoin, you are technically gambling twice, one with the casino jackpot games using Litecoin, and the other, with the crypto contents of your wallet.
If you’re going to delve into the world of Bitcoin or Litecoin, then we suggest you start slow and do a lot of research. Make sure that you own the keys to your wallet, as keeping your coins on an exchange means that they are not yours. It’s the same with buying crypto through an app like Robinhood. You are essentially borrowing the coins from them. Get yourself a hard wallet or a paper wallet and store your coins there. At least they are then yours.