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Litecoin

Litecoin payment method at slotsfans
LTC is a Blockchain based, open source and peer-to-peer virtual currency. It is a decentralized form of payment that facilitates minimal efforts when making online payments across the world while avoiding the cost and time lags of using banks. It has faster confirming times as it is a Blockchain currency. Processing a Blockchain currency normally takes 2.5 minutes compared to Bitcoin’s 10 minutes.

LTC offers users with another advantage in that it is compatible with iOS, Windows and Linux. The coin can be bought and sold on a cryptocurrency exchange. It can also be used as an online payment method including in casinos.

How Litecoin Works

Litecoin is a cryptocurrency stored in a digital wallet such as Litecoin Core’, a desktop wallet and Jaxx which is both a desktop and Mobile wallet.

Creating a LTC wallet is relatively easy. You visit the coin’s site and download the Litecoin Core. You then follow the installation instructions and once complete, the wallet goes through a process of synchronizing with the Blockchain. After this process is complete, select the “Receiving address” under the ‘File’ heading. Here, select locate your address, also referred to as your account number. This is an important step as this is what you will require to give to senders whenever you are receiving Litecoins.

How to Make Deposits Using Litecoin

Making deposits to a casino account is easy and takes a short time.

To use top casino Litecoin payment option:
  • Go to the payment section of the casino where you may be required to activate casino payment bonuses first
  • Select the LTC deposit method
  • Click on the Deposit
  • You will then be offered a casino address to make transfers of Litecoins to your player account.

The process takes different times to process depending on the casino. The establishment may charge a fee to make deposits.

How to Make Withdrawals Using Your Litecoin Account

Making withdrawals using LTC is similar to making deposits. To withdraw, go to the payment section and select the Litecoin option and enter your wallet address as well as the amount you wish to withdraw. This will also cost you some fee.

Pros

  • Litecoin deposits qualify for casino Litecoin payment bonuses at participating casinos
  • Offers confidentiality—no sensitive information is revealed
  • Fast deposits and withdrawals

Cons

  • Reversing transactions is impossible
  • Not accepted by many casinos

Litecoin is a cryptocurrency using Blockchain technology to effectively eliminate the need for intermediaries such as banks hence reducing the costs. It is one of casino payment methods which is safe and secure to use.

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