Before the Ethereum wave flooded the cryptocurrency world, Litecoin took the honorary place as the second most popular cryptocurrency after Bitcoin. But let’s be honest – as for the cryptocurrency, which was created as a Bitcoin clone, the third place is not so bad at all.
Regardless of its position in the ranking, Litecoin has gained a permanent reputation of “digital silver”. Just think of the pictures that can be found in articles about Bitcoin: a handful of shiny gold coins with the stylized letter “B”. Similarly to the above, materials concerning Litecoin often contain images with silver coins decorated with the letter “L”.
Gambling of this type with Litecoin was only a matter of time. As with its “big brother”, the new way of betting started to develop rapidly.
The interest in Litecoin gambling is growing thanks to the constantly growing number of casinos accepting it, which offer all kinds of bonuses for new and for the experienced players. Therefore, before choosing a permanent place to spend and earn LTC, we recommend that you carefully read the offers of each casino. This will give you even more satisfaction and gaming fun!
WHAT IS LITECOIN? IS IT ACTUALLY DIFFERENT FROM ITS PRECURSOR?
Litecoin was actually created as a Bitcoin fork. It was accepted by the community thanks to Charlie Lee, a former Google employee, who published his source code on GitHub on 7 October 2011.
Despite the undeniable technical similarity, there are important differences between Litecoin and Bitcoin.
Confirmation of the transaction takes about 2.5 minutes, i.e. four times faster than the average “older brother”.
The algorithmic limit of LTC is 84 million coins, compared to the maximum number of BTC coins of 21 million.
The Segregated Witness and Lightning Network have already been launched in the Litecoin system – the community considers both technologies to be innovative.
The Scrypt algorithm used by Litecoin complicates extraction using GPUs, FPGA and ASIC, but makes the whole process easier on the CPU.
These features make Litecoin a unique cryptocurrency, contrary to the erroneous belief that it is completely similar to Bitcoin.
This is a good moment for a curiosity: the smallest part of 1 BTC is called “satoshi”, in honor of the creator of the network – Satoshi Nakamoto. In the case of the successor, it seems that everyone had something different to do than inventing an analogous name, hence one millionth part of 1 LTC is simply called “litoshi”.
Litecoins can be bought and exchanged in the majority of popular cryptocurrencies, such as CoinBase or Crypto.com. The cryptocurrency itself is developing at an impressive pace: at the beginning of 2017, the value of Litecoin was about 4 dollars for 1 LTC, now, half a year later, you can get about 40 dollars for one coin. So if you still don’t have a Litecoin wallet, it’s high time you set it up.
LITECOIN GAMBLING: BENEFITS AND OPPORTUNITIES
Litecoin offers impressive benefits for players in online casinos:
Anonymous gambling with Litecoin. Players’ personal data is not collected or disclosed – transfers only require a unique wallet address. Gambling portals also do not require private data or ID cards.
Fast transactions. With traditional transfers, you have to wait many times longer – with LTC, your funds are transferred almost immediately.
“Provably fair” principle. The casinos that use it are known for their fair play, which can be verified after each hand or turn of the roulette wheel.
No (or very small) transaction fees. Saved money is better spent on something else.
Non-deposit casinos allow you to try out your skills and risk gambling without spending money on online entertainment.
In addition to traditional gambling games (poker, blackjack, roulette, slots), the following games are popular on the Internet:
LitecoinHi-Lo: the player has to guess whether the face value of the next card will be higher or lower than the previous card.
PonziScheme: a game designed for those who have always wanted to be part of the financial pyramid, but have never dared to do so.
In addition to the casinos accepting Litecoin there are also online bookmakers who enable the fans of the totalizer to bet on the results of matches and other competitions using cryptocurrencies. In addition, there are various lotteries that accept LTC.
LITECOIN FAUCETS: A WAY TO GET FREE LITECOINS
If you don’t like to leave your money at the mercy of fate, and the word “roulette” itself arouses reluctance, there’s no reason to despair. Today’s entertainment industry offers several ways to earn Litecoin without leaving home.
One of these methods is widespread – the so-called “Faucets”. This is because the website pays its visitors a small amount of lithoshi for a one-off stay on their website over a certain period of time (e.g. 10000 every hour). Why should anyone give out the cryptocurrency for free? It is all about advertisements on such websites – each such a website in principle pays visitors a small amount of money to view advertisements.
Clever and resourceful turn these faucets into fully fledged Litecoin games. The recipe is quite simple: it is often enough to draw a frog that jumps from one platform to another, collecting coins. The user plays the game of his own free will, while watching the advertising banners at the same time.
We wish you to get your first free Litecoins as soon as possible! Also, trying Litecoin gambling as a new way for using it.