Litecoin has emerged as one of the most preferred cryptocurrencies for gambling in recent years. It offers many benefits, including speedy transactions, a high degree of anonymity, and many more.
Be it betting on sports, esports, poker, or online casinos, Litecoin is the go-to cryptocurrency for many punters. Therefore, in this blog, we’d address some of the critical aspects of Litecoin (LTC) from the betting perspective.
Let’s start by knowing a bit about the history of Litecoin.
It was a Google employee, Charles Lee, who launched Litecoin way back in 2011 on Github. In terms of its open-source platform and other features, Litecoin was modeled on Bitcoin. As with Bitcoin, even with Litecoin, there’s a common ledger, where the information about transactions is stored.
Although modeled on Bitcoin, Litecoin aimed to be a better cryptocurrency. That’s the reason Litecoin offers a much faster speed than Bitcoin. Litecoin’s network is built to process one block in 2.5 minutes compared to 10 minutes taken by Bitcoin.
As a result, transactions are much faster in Litecoin than in Bitcoin.
As far as gambling is concerned, Litecoin works the way any other cryptocurrency works. As a punter, the first thing you should do is find a site that accepts Litecoin, create a crypto wallet in Litecoin, and then start your betting journey.
How do I bet using Litecoin?
We’re often asked this question by enthusiastic punters who are keen to use crypto. To simplify matters, these are the steps to follow for those who want to bet with Litecoin.
- Create a Litecoin wallet. You should be able to download your Litecoin wallet either on your desktop or mobile phone. If you’re wondering how to buy Litecoin, then it’s easy. You can buy Litecoins from the same exchanges which sell other cryptocurrencies.
- There could be many options to create such a wallet. Review all the terms and conditions to decide which one suits you the most.
- Now that you’ve chosen a wallet to hold Litecoin, create your profile by entering your personal details and financial information. You may get a bit apprehensive thinking your details may be shared. Don’t worry, as all details will remain anonymous because that’s the key feature of Litecoin.
- Visit the site you want to gamble on (in this case, BTC365), provide your Litecoin wallet information. Once you sign in, you can also provide your signature to the betting platform’s cashier.
- You have to link your gambling wallet on the betting platform with the crypto wallet for deposits and withdrawals of funds. It’s damn simple. Sometimes you can use a code to transfer funds from gambling wallet to betting wallet and vice-versa.
- Now, you can start playing games with Litecoin.
Which contests can I bet on using Litecoin on BTC365 in 2022?
At BTC365, you get the widest range of real sports, esports, and live casino contests to bet on using Litecoin. Bear in mind that you can bet on our platform on all these contests using other cryptocurrencies, like Bitcoin, Ethereum, and Tether, as well.
You’d be surprised to know that BTC365 is the only dual online sportsbook that provides you betting odds for more than 70,000 matches monthly. So, as far as the range of betting options is concerned with Litecoin, BTC365 is peerless.
Here is the list of contests you can place your wagers on using Litecoin on our site:
- Bet on the leading championships: We provide you with competitive odds for betting on leading championships from around the world, including NBA, EPL, UEFA Champions League, Bundesliga from Germany, LaLiga from Spain. Visit this link to know more.
- Bet on the most popular esports: Want to bet on some of the most popular esports, like FIFA esports, NBA2K, LOL, DOTA2, CS:GO, and many others? At BTC365, you’d get betting odds for all such esports.
- Plenty of live casino contests to place your wager: BTC365 offers a variety of live casino contests for you to punt and make money. From Poker and Blackjack to Roulette and Baccarat, the choice is endless. Pick the contest you like and start betting today.
Benefits of using Litecoin for gambling
Well, there are a number of cryptocurrencies out there. The question is, why should you choose Litecoin for gambling? Instead, why not use traditional currencies, like Indian Rupee (INR) and US Dollar (USD)?
- Faster speed than most cryptocurrencies: Litecoin was built with the objective of offering a really high speed of transaction to people. The same goes for even those who want to use it for gambling. Like we already mentioned, Litecoin’s network is built to process one block in 2.5 minutes compared to 10 minutes taken by Bitcoin. Therefore, speed and efficiency are hallmarks of Litecoin.
- Anonymity and security: Remember that your personal details are never shared when you use Litecoin. As a result, you can enjoy the utmost anonymity and security. With your details safe and secure, you can focus on betting with a relaxed and calm mind.
- Amazing bonuses: When a gambling site uses a cryptocurrency for payments, it turns out to be much cheaper than traditional currencies. Therefore, it tends to pass on the savings to bettors in the form of fantastic bonuses, offers, and promotions. You can check out BTC365’s promotions in detail by visiting this link.
- Lesser fees and charges: Litecoin payments turn out to be much cheaper. For example, BTC365 doesn’t make you pay any fee for deposit or withdrawal of funds in cryptocurrencies, including Litecoin. Having said that, you have to pay the usual crypto transaction fee when you’re transferring Litecoin to our platform. But even then, betting with Litecoin turns out to be significantly cheaper than betting with traditional currencies.
Things to be careful about while betting in Litecoin
- Litecoin’s value fluctuates: The value of Litecoin can fluctuate wildly. For example, in the last year, Litecoin’s value has appreciated by 50.65% in rupee terms. Bear in mind that if it can go up, it can go down as well. Therefore, you should not hold too much money in Litecoins because by doing that, you’ll be exposing yourself to undue risk.
- Don’t send Litecoin to a wrong address: Like any cryptocurrency, you’ve got to be very careful not to send Litecoin to a wrong address. If you end up doing it, you will lose your funds. Always double-check the crypto address to which you’re sending Litecoins.
- Check the legality of betting in Litecoin: The laws regarding cryptocurrencies are evolving worldwide. Therefore, it makes sense to check the legality of gambling in Litecoin in your region. It may so happen that a country’s law doesn’t expressly allow betting in Litecoin. In such cases, you can check whether it specifically disallows betting in Litecoin or cryptocurrencies in general.
Want to bet with Litecoin? Make an account on BTC365 today
If you’re going to bet with Litecoin, BTC365 should be your go-to platform. It is one of the best Litecoin gambling sites because it offers several benefits. This includes a wide range of sports, esports, and live casino contests to bet on. Besides, it offers a highly user-friendly interface, which is very easy to navigate. Register on BTC365, and start betting today.