As the world moves forward, it has experienced an evolution of currencies too. Today, there is a growing popularity of cryptocurrencies, which are digital currencies that are not controlled by any central government. One such example is Litecoin, a pack leader that has proved popular with users worldwide.
As new casino sites fight for a share of the market, payment methods are one of the areas that are looking to improve on. New casino websites are adopting Litecoin as a preferred deposit method to make transactions easier for their customers. This article looks at some of the best new casino websites, listed below, that accept Litecoin as a payment method.
In the simplest definition, Litecoin is an online currency that is not controlled by any state or national government. This means that people from any part of the world can hold Litecoins, which will have the same value regardless of location. This 'money' is also not held by any bank, meaning that the risk of loss is substantially lower.
The currency is operated on what is known as an open-source, peer-to-peer format. This means that the maintenance of account balances is done in a shared manner across the network, making it impossible for a Litecoin owner's balance to disappear without a trace.
Litecoin is one of the popular cryptocurrencies being accepted as a payment method by online casinos. Find out here why it is popular and why use it.
History came into existence in 2011, meaning it is among the premier cryptocurrencies in the world. It was introduced by Charlee Lee as a similar model to the pre-existing altcoin. Immediately after its release, a network was set up that aimed to create a coin (Litecoin) every two minutes. The system was also tasked to distribute the coins.
Its major growth came in 2013, at one time experiencing an amazing 100% jump in value within 24 hours. The use of the currency in casino gambling began to take shape around 2017, with significant popularity being recorded towards the end of 2019.
Having a casino that accepts Litecoin has numerous advantages for the player. To start with, the currency is strong against major world currencies, so there's an edge in that respect. Moreover, the absence of a conversion requirement means that deposits can be made fast with the digital currency.
The currency that players choose and the transactions they make through conventional methods can be used to track them. With Litecoin, however, tracking is virtually impossible since the money is not held by any physical institution. This helps to improve the privacy of a gaming session, just the way players would love it.
One factor that is crucial to online casino gaming is withdrawal. While many houses claim that withdrawals are 'instant,' it takes annoyingly long for the withdrawn amounts to reflect in the players' accounts. While a day is long enough, some withdrawals may take up to five days to reflect.
With Litecoin, however, this gap is effectively sealed. Since there is no processing required, players are able to withdraw their winnings and have them reflect immediately in their Litecoin accounts. This single factor is enough to draw players to a casino. New online casinos are taking full advantage of it.
Although Litecoin is in itself a trusted cryptocurrency, it is important that players gamble in trusted casinos. This is because once you deposit your money in your betting account, it belongs to the house until you have won more or made an actual withdrawal.
There are a number of casinos that have passed many reviewers' tests and can be stamped as safe to gamble in with Litecoin. A good number of new casinos have satis fied authorities that they are safe to bet in and they also accept Litecoin payments. These casinos offer both safety and an exciting range of games to bet on.
Security in an online casino is not just about money- although that's a big chunk of it. Protection of personal and private data and communication are also elements of security. It is important to consider available reviews regards a casino's security before signing up and depositing.
The recommended casinos have passed various tests, and players can confidently play in them. The most basic indicator of a website's security is an SSL certificate. A good site has an 's' at the end of HTTP on its address, which means 'Secure (Socket Layer). This means that communication between the player and the website cannot be intercepted by third parties.