Litecoin betting sites are the best way to enjoy your favorite casino games. Litecoin is a cheaper, faster, and more secure digital currency than other cryptocurrencies. It is also more advantageous for online casinos where players can make deposits in this payment method.
Litecoin did not get as much attention as Bitcoin but is still one of the most popular cryptocurrencies. Can I place wagers with Litecoin? Which are the best Litecoin betting sites? Learn more below:
Litecoin is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. The creation and transfer of coins are based on an open-source cryptographic protocol. Moreover, it does not fall under any central authority. While inspired by, and in most regards, technically nearly identical to Bitcoin (BTC), Litecoin has some technical differences compared to Bitcoin. This includes a decreased block generation time, differing hashing algorithms, and a script-based proof-of-work scheme.
Litecoin provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard, script-based mining proof-of-work algorithm to target most people’s regular computers and GPUs. In addition to being awarded the block reward for each block mined, “miners” also receive fees from transactions they include in their blocks. The current fixed rate forms a part of the block header data structure known as coin base transaction outputs (CTO).
Miners receive these fees as they mine new blocks, which incentivizes them to continue mining even after the reward drops to zero.
Is it legal to bet with Litcoin on betting sites in the US?
Yes, it is legal to bet with Litecoin on betting sites in the US. Any federal or state government does not regulate cryptocurrencies in the United States. This means that any online casino that accepts Litecoin as a deposit method will not have any legal issues with the government.
The legality of cryptocurrency online gambling in the US has been questioned in the past. However, there have been no official rulings on the matter. The legal status of cryptocurrency gambling is still an open debate among lawyers and lawmakers. However, most believe that Bitcoin is an asset and not a currency, so you should not treat it as such. It does not matter if you use Bitcoin or Litecoin for your deposits at online casinos because they are both digital currencies. The only difference between the two is their transaction fees, but this does not make one better than another when betting online.
Best Litecoin betting sites
Welcome to our guide to the best Litecoin betting sites. If you are looking for a new cryptocurrency gambling site that accepts Litecoin as its primary currency, this page is for you. We have reviewed some of the best Litecoin casinos on the internet and put them in one place for your convenience.
How to use Litecoin on a betting site
Below is a comprehensive guide on how to use Litecoin at betting sites:
Special Litecoin bonuses on betting sites
Some Litecoin betting sites attract players with different bonuses to their betting sites. However, it is not standard to find these bonuses. Here is a look at some top options:
History of Litecoin on betting sites
The history of Litecoin on betting sites is a bit more complicated than the history of Bitcoin. The first gambling site to accept Litecoin remains unknown. In 2014, a gambling site called BetChan started accepting Litecoin. However, this site has since closed down due to legal issues with its software provider. Another online casino that started accepting Litecoin was Bitstarz in May 2017. Other popular sites, including BetChan, BitCasino, and FBCasino, followed suit.
In addition to casinos, there are also many sports betting sites where you can bet on eSports events using LTC as a deposit method.