As a casino player, you might have seen the name Litecoin as a payment option and wondered what it was all about. Litecoin is a type of payment option which online casinos are offering. However, it is different than using a credit card or bank transfer. Litecoin has increased in popularity as more people have began using it and bitcoins to play online casino games. Litecoin is a type of peer to peer cryptocurrency, and the coins can be mined or bought. Anyone with an address can send and receive Litecoins. Some people have called Litecoins the “little sister” of the more well known Bitcoin currency. They both function in the same way, but Litecoins has some differences compared to Bitcoins.
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Casino players are required to have a Litecoin wallet which is easy to get, and they can use an online exchange to purchase Litecoins for online casinos. Once the Litecoin wallet has coins, these coins can be used to deposit inside an online casino. One of the things, a casino player will notice is how fast transactions are with this payment option. Litecoin deposits and withdrawals from a casino can be instantaneous without the regular waiting for the funds to clear. Players will not have to worry about delays to adding money to their casino account or receiving money from a casino. Litecoin transactions are even thought to be faster than Bitcoin transactions. Another reason casino players prefer Litecoins is because it allows for anonymous transactions. Some players prefer to keep their money safe using a way that cannot be tracked to them. Anonymous transactions using Litecoins reduces the risk of someone stealing your info. There is no paper trail for them to follow. Overall, Litecoins might have been birthed from the same concept as Bitcoins, but it can be seen by players online as a more affordable option to play casino games. The price of Litecoins is worth less than Bitcoins, so players enjoy being able to purchase more Litecoins signup at Litecoin casinos and be able to play casino games.