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Curious about what’s fresh for Litecoin online casinos? Check out the newest casinos that take Litecoin, established in the last 12 months, and explore their bonuses below.
As open-source tech goes, Litecoin aims to be a transparent and community-oriented platform for cryptocurrencies. It offers a faster and more agile alternative to well-established coins and aims to return the power back to the hands of users - according to its whitepaper.
 | |
| Payment Method | Cryptocurrency |
|---|---|
| Founded | 2011 |
| Number of Users | 5 million |
| Number of Merchants | 3,000+ |
| Number of daily transactions | 100,000+ |
Litecoin, created by Charlie Lee in 2011, aimed to make it easier and faster for shops to accept crypto payments, specifically trying to improve on some things that Bitcoin struggled with. It was meant to be a coin with few restrictions and fulfill the original aim of a decentralized currency.
A new-age currency for new casinos coming about? I would say so. Let’s go through the transaction times and security features of Litecoin below.
For people who want to connect with like-minded individuals or want a few questions answered, the Litecoin Forum Page is well worth a read.
As it’s less bloated than the bigger currencies, It’s pretty quick. I found that confirming transactions were nearly instant and the timeframe was just 2.5 minutes, faster than Bitcoin's 10 minutes.
It’s easy on the wallet, too. Deposits are free and happen instantly while taking money out costs only between 0.05% and 0.2% of the requested withdrawal. Although these costs vary, always check in with your wallet and chosen casino’s fee structure to get a thorough insight.
It’s decentralized and community-driven, meaning the whole network works together to keep transactions secure, via blockchain technology.
Litecoin secures itself using a method called mining where a bunch of computers around the world work together to check and confirm every transaction that happens with Litecoin.
Furthermore, when transactions are made, they are scrambled up with complex mathematical methods, making sure that only the person with the correct "key" used for “unlocking” the transactions, can access the Litecoins.
With its transaction costs averaging in cents and offering blazing-fast deposit and withdrawal timeframes, Litecoin has much to offer.
Also, heralded as a popular cryptocurrency, you will find hundreds of Litecoin online casinos to try out. For these reasons, Litecoin gets a strong thumbs up from me!
