Litecoin casinos are online gaming venues that accept deposits of the Litecoin cryptocurrency. While this particular crypto isn't quite as well-known to the general public as Bitcoin or Ethereum, it is still very popular among crypto users.
As a consequence, the number of Litecoin casinos available to players in New Zealand is growing year on year. In this article, we will look at where Litecoin came from and how you can use it to play your favourite casino games.
Litecoin Casinos for NZ Players (2023)
Litecoin: An Overview
Litecoin describes itself as "a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world." It was developed by a Google employee called Charlie Lee, and the Litecoin network went live in 2011. That makes it one of the earliest alternatives to Bitcoin, which had been launched two years earlier.
As you'd expect from a cryptocurrency, Litecoin is decentralized. That makes it very useful to people who put a particularly high value on the principles of privacy, safety, and security. While using Litecoin at casinos isn't anonymous (most countries require casino operators to verify the ID of their players for legal purposes) the security and safety benefits are still very much present.
Litecoin is commonly abbreviated as LTC and has grown in popularity since its release. In June 2022 PayPal made it possible for its users to send and receive the cryptocurrency, making it more accessible than ever.
Actually making deposits at Litecoin casinos is very easy. Of course, you must first acquire some Litecoin currency so that you have something to deposit. This is a simple matter of visiting a cryptocurrency exchange platform, such as Coinbase, opening an account and purchasing Litecoin.
A great advantage of using Coinbase is that it also serves as an e-wallet, and it can be used to hold several cryptocurrencies at the same time should you also want to use Bitcoin or Ethereum, for example.
Having acquired Litecoin, you should be all set to make a deposit at any online casino that accepts this cryptocurrency. Here's the procedure to follow:
Litecoin deposits are generally processed very quickly, and you should be able to start playing with your funds in a matter of minutes.
Making withdrawals of Litecoin funds from your casino account is just as easy as making deposits. All you have to do is:
The casino will need to approve your withdrawal, so withdrawals won't always be as quick to process as deposits. Even so, Litecoin withdrawals are generally quite fast, so you won't have to wait long for your funds to reach you.
Most cryptocurrencies charge users transaction fees, and Litecoin is no different. What is quite different is that Litecoin fees tend to be some of the lowest around. That shouldn't be surprising, given that the company itself boasts of helping its users to make "near-zero cost payments".
While a typical crypto transaction might cost a dollar or more, Litecoin will usually cost no more than a few cents. The rate fluctuates, which is why we aren't giving any exact figures here, but the bottom line is that Litecoin is one of the best cryptos around as far as charges are concerned.
Most of the benefits of using Litecoin at online casinos are in line with the benefits of using other cryptos such as Bitcoin or Ethereum. Here are the main advantages that players tend to mention most often:
Best Litecoin Alternatives
Litecoin is one of the oldest cryptocurrencies in use, having been released in 2011. That makes it a trusted crypto that has proven to be as popular as it is safe and secure. Almost all online casinos that describe themselves as being crypto-friendly accept Litecoin alongside alternatives like Bitcoin and Ethereum, and the number of such venues is increasing all the time.
If you'd like to start using crypto for online gaming and at the same time keep transaction charges to a minimum, Litecoin casinos are the way to go.