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.
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.
Making deposits to a casino account is easy and takes a short time.
The process takes different times to process depending on the casino. The establishment may charge a fee to make deposits.
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.
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.