Litecoin was originally created to improve some BTC shortcomings, but ever since, it has evolved into a crypto that is commonly used for everyday transactions. So, here, we will put our focus on how world-class Litecoin casinos, such as Cryotorush, work and how you can start playing casino games with LTC.
Litecoin (LTC) Overview
LTC was created as a Bitcoin alternative in 2011. The name behind the creation of the cryptocurrency is Charlie Lee, a former Google engineer. Litecoin used the same open-source code as Bitcoin, but it implemented several modifications. Thanks to that code, LTC transactions are not controlled by any central authority.
Nonetheless, there are still two crucial aspects in which Litecoin differs from Bitcoin: the faster block generation rate and the use of Scrypt as a proof-of-work scheme.
As its structure is quite similar to BTC, Litecoin was previously used as a testing ground for Bitcoin’s improvements. Arguably, the main LTC feature that made it so popular was its faster transaction speed. Merchants who accepted BTC struggled with retaining customers, as they had to wait up to an hour to process Bitcoin transactions.
Litecoin’s transaction speed, on the other hand, is much faster—54 per second—as new blocks are created on the LTC blockchain every 2.5 minutes.
Currency Name | Litecoin |
Payment Method Type | Cryptocurrency |
Established | 2011 |
Key Features | Faster block generation,privacy, anonymity |
Technology | Scrypt as a proof-of-work scheme |
Transaction Speed | Instant |
Fees | Lower compared to Bitcoin |
Availability | All reputable crypto exchanges offer LTC trading |
Price | Volatile |
How to Make a Deposit at a Litecoin Casino
To make a deposit at a Litecoin Casio, follow this friendly guide to get you started:
Register at a Crypto Exchange
Before you start using LTC at online casinos, you need to get your hands on the digital asset itself. The safest way to do so is to register at a crypto exchange, such as Coinbase or Binance.
Purchase LTC
Up next, you can choose your payment method for buying LTC and select the number of LTC assets to buy. Crypto exchange sites will serve as both a marketplace for buying cryptocurrencies and a wallet for storing them.
Register at Cryptorush
Fill out the short registration form at Cryptorush, choose one of the available welcome bonus offers, and you are all done. One of the biggest advantages of Cryptorush is that they won't ask you to go through lengthy sign-up processes.
Deposit into Your Account
The Final step requires you to head to the cashier section of the Litecoin online casino, choose LTC as your payment method, copy your wallet address, and complete your deposit. The funds will appear instantly in your wallet, and then you can play the best Litecoin casino games for real money!
Withdrawals at Litecoin Casinos
Whenever you make deposits and withdrawals at Litecoin online casinos, you will need to have access to the receiving address in your wallet. When you eventually secure your first win at Cryptorush, you can follow the next few steps to make a withdrawal straight into your LTC wallet:
Head to the cashier section of Cryptorush and choose withdraw.
Choose LTC as your payment method.
Enter the withdrawal amount, keeping in mind the minimum and maximum limits.
Copy and paste your LTC wallet receiving address.
Confirm the transaction and get the funds!
We mentioned above that LTC’s main trait is fast payment processing, so you can expect the funds to arrive in your wallet instantly. After that, you can sell them, withdraw money to your bank account, or keep them for future gambling endeavors.
Experience the best Litecoin casino with Cryptorush, head to our website now!