7 things to know before playing Litecoin casino games online

When most people think of crypto, they think of Bitcoin. Many people are missing out on the opportunity to invest in alternative cryptocurrencies such as Litecoin, which is often referred to as “silver” as opposed to “gold” in Bitcoin.

Litecoin is based on the Scrypt algorithm. This algorithm performs less complex calculations than those performed by Bitcoin’s SHA-256 algorithm. Litecoin mining is easier to access than Bitcoin mining because it requires less computing power.

Here are seven things you need to know before you dive in and start playing. Litecoin casino online game:

1. Litecoin can be purchased widely

Although not as well known as Bitcoin, Litecoin is actually one of the most popular cryptocurrencies out there. This means that you can buy it on all major crypto exchanges.

One of the main differences between Bitcoin and Litecoin that you will notice when gambling is that Litecoin enables faster transactions — currently Litecoin transactions are processed on the blockchain. Every 2.5 minutes.. This is four times faster than Bitcoin trading.

2. Do not store all prizes in the casino — set up a wallet

The purpose of the wallet is to store Litecoin. Keeping it in the casino itself is never a good idea — no matter how many good reviews it has or how secure it is! Online casinos are often the target of hackers, so you should avoid saving money in your account unless you are using it for gambling.

Setting up a Litecoin wallet sounds confusing and intimidating at first, but it’s actually pretty easy. There are several types of wallets available, including software wallets, cold wallets, and paper wallets. The type of wallet that works best for you depends on what you want to use it for, so you need to do some research.

3. Make sure to choose a reputable casino

Find a casino that has been around for years and has good reviews from users. If you’re not sure, it may be worth doing your own research. Make sure they have the correct licensePlease contact your customer support team to find out how long it will take to reply, in case of further problems.

4. Take advantage of the welcome bonus

One of the main differences between regular casinos and online casinos, especially cryptocurrency casinos, is the welcome bonus. There is so much online competition right now and casinos are eager to attract new customers, so many offer you a huge welcome bonus to invite you to sign up.

Some casinos also offer bonuses to repeaters. For example, you can earn free reward points each time you place a bet, or randomly win free prizes when you reach a new milestone.

5. You will be able to get your winnings from cryptocurrency casinos much faster than fiat money casinos

Fiat transactions require an intermediary and can take several days to process. If you request money on Friday, most banks do not open on weekends, so you may have to wait up to 4-5 days to receive your winnings. If you need money right away, this can be a big problem, and if you take too long to process a transaction, you can actually lose money by borrowing a fee.

Cryptographic transfer does not have this problem. After making a request, you will usually receive your winnings in just a few minutes. This is very useful if you need to access your money in a pinch.

6. Litecoin gambling is anonymous

Paying money directly to the casino from your bank account can cause problems in the future. For example, if you try to apply for a mortgage and find that your bank has spent money on gambling, you may be punished.

If you are paying to the casino using Litecoin, the bank will not be able to track where you spent your money and you will not be forced to explain your actions to people.

7. Nothing can be done to increase your winnings

One of the great features of cryptocurrencies such as Litecoin that appeals to many gambling fans is that the value of the prize is further increased without doing anything, and you can make money just by putting it in your wallet.

Given that the value of cryptocurrencies tends to fluctuate rapidly every day, many people leave their winnings in their accounts, wait for prices to rise, and then immediately monetize to maximize profits. Choose to do.

So you have it: 7 things you need to know before you start gambling at Litecoin Casino. Now that you’ve read them, why not dive into a real Litecoin casino?

Don’t forget to have fun, and invest only in what you can comfortably lose!