Why Gamble in Litecoin?
Those who know a lot about cryptocurrencies such as Litecoin are already aware that any type of investments or manipulations with digital currency are usually profitable and promising. So, they do not double-ask the profitability of online crypto gambling. However, those passionate about gambling, but not really aware of the benefits of Litecoin may be wondering whether this is even advantageous. This is why we provide the list of advantages below.
Litecoin, as all other digital coins, has its own technology for payments, and the best thing about it is that transactions are transparent yet anonymous. Any third party seeing the transaction by hacking down a casino account will see that the transaction has a payer and a payee, they may find out some additional details, depending on the situation, but the hacker will not see all details about the parties, and therefore, they will not be able to track the transaction till the bank account, or organize identity theft, etc.
Safe and Fast Deposits & Withdrawals
As it is mentioned above, the transactions in Litecoin are anonymous, but they are also transparent, which makes them safer for the casino customer. The casino, if it turns out to be fraudulent, will not be able to change the transaction, or to apply any additional fee to it in hopes of getting even more money. All processes are transparent and visible to both parties. Moreover, the transactions are irreversible, and to refund, the party will have to initiate a separate operation; you can’t just change your mind and cancel. Also, most Litecoin transactions are from instant to maximum 72 hours (if the casino double-checks the legitimacy of the cashout), in contrast to fiat currencies where cashout can take up to 14 days.
Higher Deposit & Cashout Limits
Since Litecoin has nothing to do with official banks of different jurisdictions allowed to an online casino of your choice, it means the majority of limitations normal for banks have nothing to do with transactions in Litecoin. As a result, most casino sites allow way higher limits for deposits and withdrawals in LTC. The direct consequence of that is customers being able to deposit big, make high roller bets, take bigger deposit-based bonuses, win more, and withdraw their winnings faster in bigger sums. Many sites also allow higher bets than normal if you bet in LTC.
The general rule of thumb is that, the more banking methods are offered at the casino, the more reliable they are, and the faster they are, the more advantageous the casino is believed to be when double-checked by independent third parties. As you already know, payments in LTC are fast and reliable, so casino platforms allowing them have higher chances of being provably fair when checked. Of course the wannabe players should always look for reliable third-party seals of trust by the relevant agencies, but in many cases, the fast of LTC payments allowed is enough.
User Identification Not Needed
In contrast to many payments via other banking channels by fiat currencies, where online casinos demand user identity confirmation almost every time (most often if the withdrawal exceeds the deposit made previously), with Litecoin, this is not the case. You only have to confirm your identity once when your online casino Litecoin account gets verified, and this is it. You’re good to go depositing, betting, winning, and withdrawing. The only exception you will normally face is winning (and withdrawing) more than $20.000 or so, in LTC.