Litecoin Online Casinos

Looking for the best Litecoin casino where to spin the best paying slots in the UK? I have news for you! Litecoin, and other forms of cryptocurrency, are becoming increasingly popular among UK players. At the moment, UK casinos don’t offer this as a payment option but we’re here to give you all the info about Litecoin casino so you’re all set to go as soon as Litecoin casino land in the UK. In the meantime, keep your hand in with our list of top-performing UK casinos

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A Guide to buying Litecoin for UK players

Litecoin Casino

Image: Litecoin I © WorldSpectrum | Licence: CC BY-SA 2.0)

Cryptocurrencies are becoming more and more popular the world over, in fact, we have now reached a point where certain pubs and restaurants in the UK are offering these payment solutions to their customers. Not having to carry cash on you in person is a tempting alternative, and this option is now starting to become available to people who play at online casinos.

True, we are used to not carrying cash (as this would be of remarkably little help when trying to deposit money online), but the vast majority of gamblers still use bank cards or eWallets to deposit and withdraw money to and from their favourite online casino. This way of depositing and withdrawing is easy and quick, but it still comes with many hidden and unnecessary fees, in addition to often being slow. What can possibly be more annoying than having to wait a whole day or two for your deposit to come through, causing you to miss out on a special event hosted by your favourite online casino?

Luckily, cryptocurrencies like Bitcoin and Litecoin are now available to use online, and although UK casinos are yet to offer this to players at the time of writing, this is bound to become a legitimate option for UK players in the very near future, which is why we will guide you through the process of obtaining Litecoin.

One of the easiest and quickest ways to obtain Litecoin in the UK, is to exchange your Bitcoin or other cryptocurrency. This can be done at cryptocurrency exchanges and seeing as Litecoin has been around since 2011, the vast majority of cryptocurrency exchanges would be able to give you Litecoin as payment for your Bitcoin.

But what if you don’t have Bitcoin or other cryptocurrencies? What if this is the very first time that you venture outside the realms of traditional banking methods and you have no clue what to do when it comes to obtaining any type of cryptocurrency? Do not worry, we will explain it all right here.

Litecoin Faucet

The most common method of obtaining a cryptocurrency, is through a method known as a ‘faucet’. A faucet is a website that asks you to complete a task in exchange for a reward. This reward will be in the form of your chosen cryptocurrency, in this case Litecoin. The task is usually something very easy and straightforward, like playing a simple game or completing a CAPTCHA. As soon as this is done, you will receive a small amount of Litecoin.

Faucets can be used more or less constantly, but it is important to be aware of the following: most faucets will have limited amount of times that you can collect your reward, and this reward will usually be quite small. You will not be able to collect 10 Euros worth of Litecoin every hour, instead you might get a fraction of that every 15 minutes. Once the 15 minutes (just for the sake of having an example, some faucets may only allow you to use it once every hour, some even once every day) are up, you can complete the task again for another reward.

As you probably are beginning to understand, it can take a while to obtain a good amount of Litecoin through a faucet. This means that you might need to find several faucets to use, but this is definitely worth it. The upside to using Litecoin vis-à-vis traditional banking methods is huge and undoubtedly worth a tiny amount of work. Just think of all the hassle-free transactions this will lead to, or just the sheer amount of money you will save on transaction fees alone.


Litecoin or Bitcoin?

Litecoin Casino

Image: Bitcoin vs. Litecoin I © | Licence: CC BY-SA 2.0)

Bitcoin became the face of cryptocurrencies back in 2009 when it first released its public client. In fact, many people still believe that cryptocurrency is nothing but another way of saying Bitcoin. These people are sorely mistaken.

Today, you can find at least 20 different types of cryptocurrencies being tracked by major newspapers and financial news outlets. Bitcoin is simply the oldest of these 20 cryptocurrencies. In fact, Bitcoin is only two years older than Litecoin, which came into existence in 2011 thanks to former Google and Coinbase employee Charlie Lee.

Among the differences between Litecoin and Bitcoin, the first is that these two cryptocurrencies have different caps. Bitcoin has a market cap of roughly £54 billion, whereas Litecoin has a cap of £2.42 billion. These numbers do have financial implications on a bigger level, but it means quite little (if anything) to us as private users of either cryptocurrency.

A difference that do impact us, is the fact that Litecoin can produce a much greater amount of coins than can Bitcoin.Bitcoins network can never go above 21 million coins (read this as the amount of coins, not the value of them), whereas Litecoin can go up to as much as 84 million in number of coins.

In addition, Litecoin is generally considered to be quite a lot faster than not only Bitcoin, but indeed pretty much any other cryptocurrency. This might not seem to mean much at first (as all cryptocurrency is famous for transactions happening instantly), but the truth is still that transactions will need to be confirmed by other participants on the same network, often known as miners. These miners dedicate their computing resources towards confirming other people’s transactions, an action which earns them rewards in form of their chosen cryptocurrency. For Bitcoin, the average transaction time therefore rises to approximately 10 minutes, whereas the average transaction time for Litecoin sits at only 2.5 minutes.

The final difference between Litecoin and Bitcoin, is the cryptographic algorithms in use. Bitcoin uses the SHA-256 algorithm (which it has done seemingly forever), whereas Litecoin is using the much newer Scrypt algorithm. This might strike many as a technicality and therefore not worth paying attention to, but only the first half of that sentence is correct.

The type of cryptographic algorithm being used should definitely be marked by users of either cryptocurrency as it has direct implications for our use. The fact that SHA-256 has been used by Bitcoin for many years, has led to an almost professional atmosphere when it comes to mining Bitcoin. SHA-256 is already quite complicated both to use and to understand, meaning that the normal person will have problems mining Bitcoin.

Scrypt is a much less complicated algorithm, meaning that it remains accessible to the layman. The practical implication of this is simply that mining of Bitcoin is almost inaccessible to the normal person, whereas mining remains a genuine way of getting a hold of Litecoin, whether you are a tech-wizard or not.


Finding the best Litecoin eWallet

Keeping your money safe is essential, yet it is not really something we think about all that much during our day-to-day. Cash is something we keep in our wallet, whereas our wages and larger payments tend to be kept in a bank account. Should you lose your wallet, you will usually only lose a small amount of cash. Should someone rob the bank, insurance would cover your loss, meaning that you wouldn’t lose a thing.

The fact that neither ordinary wallets nor traditional bank accounts can hold our cryptocurrencies, means that keeping track of said currency can become a challenge. The amount of scams one encounters on a daily basis when online is also a cause for concern when operating with an ‘invisible’ currency like Bitcoin or Litecoin.

That is why we have eWallets. One of the best ways of keeping your cryptocurrency safe, is by using Atomic Wallet. Atomic is a free desktop and mobile application that supports more than 300 different types of cryptocurrencies, including Litecoin. Atomic does not only allow its users to have complete control and overview over their Litecoins, it also allows users to exchange Litecoin to other cryptocurrencies through a feature known as Changelly.

Litecoin Casino

How to Keep your Litecoin Secure

As already mentioned, it can be a challenge to keep track of a currency that is only available and accessible through the internet. When you can’t physically touch your money, how can you possibly keep itsafe? Cryptocurrency might not be under physical threat from ‘regular’ thieves and scammers, but they are certainly under potential threat from internet scams and thieves.

eWallets, but specifically Hardware Wallets, are a great way of keeping your Litecoin safe. A Hardware wallet is in many ways similar to an eWallet, but there is one big difference: an eWallet is a virtual wallet existing online only, whereas a Hardware Wallet is a physical USB that you can hold in your hands.

The best Hardware Wallet out there (at least in our humble opinion) is the Ledger Nano S. This is a physical device that can contain your Litecoin whilst also giving you complete control over your own private keys. The Ledger Nano S comes with an OLED screen, as well as a pin code feature and a backup seed key. This means that even if something should go wrong and you were to lose your cryptocurrency, the Ledger Nano S has the tools needed to restore your funds.

Top 10 Litecoin Casinos for 2018 - Online Casino Litecoin
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Top 10 Litecoin Casinos for 2018 - Online Casino Litecoin
Find the reviews for the top 10 best Litecoin casinos for players using the Litecoin cryptocurrency. All the listed online casino sites are Litecoin-friendly.
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