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Litecoin, or LTC, is one of the major cryptocurrencies along with Bitcoin and Ethereum. Its status as an 'alternative' to Bitcoin led to it being known as one of the main altcoins, and its popularity is now widespread. LTC is available in over 100 countries to pay for products and services online, including making online casino deposits.
This page is here to show you which online casinos accept Litecoin as a payment method. By reading it, you'll find out how to make LTC casino deposits, the pros and cons of using it as a payment method, and also some background on the history of Litecoin.
Litecoin started life back in 2011, when computer scientist Charlie Lee wrote the code for an alternative to Bitcoin. He wanted to make it more efficient and to be better suited to smaller transactions, serving a different part of the market to BTC rather than being a direct rival.
Two years later, he launched the Litecoin network, allowing traders to invest in it for the first time. Like Bitcoin, it was decentralized, and people could mine LTC to a finite supply of 84 million coins, compared to BTC's 21 million.
There are several key differences between the two cryptos, though. Litecoin is easier to mine, and miners can also use standard consumer-grade hardware instead of the specialized equipment that BTC requires. Its transaction speed is also quicker, although this doesn't really impact the value of the currency. LTC's market cap is also much smaller than BTC's, and it will probably always be that way.
Like most cryptocurrencies, Litecoin's history has been marked by high price volatility. In November 2013, its value doubled in just 24 hours, but it has also been part of several altcoin crashes.
Generally, though, it has always been one of the top altcoins and, in May 2017, the first-ever Lightning Network transaction was completed in LTC.
Note: The long-term prognosis for Litecoin is good, as many experts predict it to continue as a strong cryptocurrency. It's often even referred to as the 'silver to Bitcoin's gold'.
Several online casinos accept it as a payment method now, so read on to find out which sites this includes and how you can use LTC with them.
Litecoin is one of the most successful altcoins, but what are pros and cons of using it as a payment method?
Well, like with any transaction completed on blockchain, it's extremely secure. Hacking blockchain is virtually impossible thanks to its architecture. Its network is distributed across multiple computers, or nodes, which removes a single point of failure.
However, this also provides a potential drawback. If you send your money to the wrong place – let's say you use an incorrect recipient address – it's almost impossible for you to retrieve it, so you need to be doubly sure you have the right details for each payment.
Back to the plus points, Litecoin is also extremely fast, so any payment should arrive in minutes, if not seconds – however, a period of high activity in the LTC network might delay it by a few hours.
Note: LTC transfers are also normally super-cheap as they don't include any of the extra fees that come with bank transactions, but again these are subject to market conditions so be sure to check with your wallet or casino before you make a transfer.
Other potential downsides include the extra work it takes to transfer Litecoin if you are about to use it for the first time. First you need to sign up to a crypto exchange to buy it with fiat currency, then you have to transfer it to a digital wallet in order to pay for stuff with it — a bit of a headache if you don't have much time or patience.
You may also struggle to find many sites accepting LTC, although this page does have a selection of Litecoin casinos for you to check out. You'll probably see more options in the future as cryptocurrency is likely to become more widely used.
Making an LTC casino deposit is a little more complicated than using dollars and euros, but equally it shouldn't cause you any major problems as long as you follow these steps.
First, choose the LTC casino that you'd like to deposit in. The next section will show you how you can use this page to help you, plus you can check out our How to choose an online casino article to go into greater detail.
Next, be sure that you have a fully open casino account: sometimes the casino needs you to complete security checks before it can receive deposits.
You also need to be certain that your funds are in a crypto wallet that can send the funds to a casino: if you're not sure, then it should have this information in its terms and conditions.
The payment process itself should go as follows:
The funds should appear in your account almost immediately, but it can take a little longer. If you don't see anything in there after a few hours, then contact your casino or crypto wallet to check what happened.
Unfortunately, withdrawals can be a little trickier depending on the casino you use. If it is possible, then you'll follow a similar process to above, only in the opposite direction, and you might have to pay a fee.
Litecoin is an extremely secure way to make casino deposits, but it's also essential that the site receiving the funds is safe and reliable. You'll be able to find the best LTC casinos on this page by using our filters.
To make this easier, Casino Guru has devised a review process that assesses a casino's reputation, rather than just subjective criteria like game selection. We give each site a 'reputation rating' which we calculate according to how it treats its customers and its ability to pay out big wins, to name just two.
To start with, the 'Recommended' tab lets you see the sites that scored highest according to our rating and review system. These are the ones that are most likely to provide great customer service and help you have a great playing experience. Most casinos will have this data in their information box.
You can also see the newest Litecoin casinos on our database by selecting the 'Newly opened' filter. These often have some tempting welcome offers as they try to build up a customer base. The 'All' tab, meanwhile, lets you see the complete list of casinos that allow LTC deposits.
One of the big plus sides of playing in online casinos is the availability of bonuses. While you do often have to make a deposit to receive one (deposit bonus), you can also claim a no deposit bonus where you only have to register with the casino in question.
You can find the Litecoin casinos that offer bonuses by visiting our list of casino bonuses and choosing 'Litecoin' in the payment method filter. The 'Bonus Type' section also lets you narrow these down, so choosing 'deposit bonus' will display just those. Alternatively, visiting the list of deposit bonuses and choosing 'Litecoin' will get you the same results.
Any bonus you come across should be valid for you to use as we work hard to keep the list updated.