Casino Expert and Editor-in-Chief
Bitcoin is reasonably one of the most popular cryptocurrencies used globally, but many other electronic currencies are drawing the attention of online users. Litecoin has gradually become recognized at many online casinos and similar websites.
Using Litecoin offers a safe way to transfer funds to your casino account and it’s easy to use as well. Even though it is a relatively new cryptocurrency, rest easy that is secure and legal for depositing funds. Find out more about Litecoin by going through this ultimate guide. Also, find out the best Australian online casinos that accept this method for depositing and withdrawing funds.
Litecoin Casinos are growing in number in Australia because of the growing popularity of the Litecoin currency. If you want to use Litecointo make a transfer at Australian real money casinos, we recommend that you look at our list of safe and reliable casinos that accept Litecoin as one of the payment options.
Litecoin, a peer-to-peer virtual currency, was founded in 2011 by Charlie Lee, a former Google Engineer. Also, known as LTC or Ł, Litecoin is based on the concept of blockchain technology. It makes use of mining power and hence it can do instant fund transfers.
You can easily swap Litecoin with fiat currencies such as Australian dollars, Euros, and US dollars. Surveys have found that Litecoin is less volatile than other digital currencies such as Bitcoin and therefore offers more advantages to its users.
You can download the Litecoin currency wallet on your mobile and desktop and use it to transfer funds anywhere in the world. You can also use the wallet to receive crypto-coins from other users.
It has been found that Litecoin is faster than Bitcoin and takes about three minutes to process funds. Bitcoin; however, takes 10 minutes. Besides, the transaction fee for Litecoin is often quite less than the Bitcoin fee.
Search the Wallet: If you want to use Litecoin to transfer funds at Australian online casinos, you will need to search for the Litecoin wallet where you can store this virtual currency. Some of the safe and well-known wallets are Jaxx and Exodus. You may also consider purchasing a hardware wallet that offers top security. It, however, costs more than other wallets.
Download the Wallet: After you have found the wallet, you will need to follow the instructions to download and install it on your mobile or desktop. You will now need to purchase some currency using an online exchange such as CoinBase or Kraken. There are several ways to buy cryptocurrency. You can use your fiat currency to buy them. Keep note that the value of the cryptocurrencies keeps changing so you will need to keep a watch on the market to look for the best price. You can also get Litecoin through mining; however, this procedure is not simple and straightforward. Only those who are familiar with mining should use this as an option. After you have bought the currencies, it will be stored in your wallet. Make sure that you follow all the instructions and enter the needed information to get them safely into your wallet. With cryptocurrency in your wallet, you are all set it to use it on the online casino where you wish to play.
Deposits: Register at the online casino by filling in the needed details and then go to the online casino banking options page. Select the Litecoin option and the casino will create a wallet address. There can be a QR code at some online casinos as well. Note down this address and go to your wallet and enter this address. After this, input the amount you wish to transfer at the online casino. Confirm the transaction and the funds will be immediately deposited into your casino account. With the funds in your online casino, you can now use them to play your favourite games right away.
Withdrawals: After you have generated winnings while playing online pokies and games at the casino, you can use Litecoin to withdraw them as well. The procedure is quite simple. Visit the payment options page of the casino and choose Litecoin as the withdrawal method. Enter the address of your wallet and choose the amount you want to withdraw. Confirm the transaction and the money will be sent into your account.
It is worth noting that not all online casinos accept withdrawals by Litecoin. So, in that case, you will need to use another payment method for withdrawals.
The biggest advantage of using Litecoin is the security it offers to players. You will not be required to enter any card details at the online casino. Litecoin also offers anonymity to players who don’t want to share their details. Transaction fees for processing funds through Litecoin are also very low or negligible. However, you might need to pay some fee when buying Litecoin at a marketplace.
Several online casinos often offer bonuses to players who use Litecoin to transfer funds. This is surely an attractive benefit of using Litecoin. Several online casinos have a feature called faucet, which offers small amounts of currency to players regularly as a token of encouragement.
Litecoin can be used for making deposits and withdrawals at many online casinos in Australia, which makes it easy for the players to play safely.
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