Litecoin betting is becoming increasingly popular, and it comes as no surprise why. The coin is fast, affordable, and well-traded on most exchanges and sites. That's the reason why I believe it's a smoother, less expensive means of betting.
If you already know crypto, Litecoin betting won't be hard. You simply have to possess a wallet and fill it with LTC. Then you send over to your betting site, and you're good to go. But there are a few other complexities to using Litecoin betting sites that you should know about. Keep reading as I go through them all.
- Fast facts about LTC sports betting
- Litecoin is one of the most popular coins in crypto bookmakers
- LTC boasts a 2.5-minute block time to facilitate fast deposits and payments
- Litecoin pays low gas fees between $0.01 and $0.05
- LTC uses Scrypt proof-of-work algorithm for utmost security
- Litecoin is not a stablecoin, and hence it experiences market volatility
- Sports betting sites accepting LTC: What's involved?
LTC betting is simply the act of sports betting using Litecoin — that's it. You don't deposit via fiat (USD or EUR) or other cryptocurrency (BTC or ETH). No, you just use Litecoin.
I have placed a bet on several LTC betting sites and can confirm that it is simple. You can deposit money in your account using Litecoin, place your bets, and cash out winnings to your LTC wallet. It is a decentralized currency, so do not worry about any banks.
Litecoin is a very widely accepted cryptocurrency, and it is not difficult to find sportsbooks that accept it. On the leading crypto betting sites, I typically see it offered alongside other widely known options such as Bitcoin, Ethereum, and Tether.
Benefits of Litecoin betting: Top 4 reasons to consider
Surprise, surprise. There are over 25,000 cryptocurrencies today. I normally have 35+ virtual tokens on the leading crypto sportsbooks, so you have a lot to choose from. Why use Litecoin? There are some perks you can enjoy when you use LTC versus fiat or other currencies. Read the top ones below:
1. Low fees
The number one reason I prefer Litecoin among the other cryptocurrencies is its extremely low gas price. The average LTC fee is in the range of $0.01 to $0.05 per transaction. Compare this to King of the Market, Bitcoin, that can range between $1 to $3 per transaction.
As a gambler, you will make a few deposits and withdrawals. Hence, the gas charges, although negligible, could be cumulative in nature. With Litecoin, you can keep more money with you.
2. Fast speed
We all know that crypto transactions are much faster compared to banking transfer and other forms of fiat. However, not all coins are the same.
I have instant deposits and withdrawals via Litecoin with betting websites. This is comparable to other leading cryptocurrencies, though. But whenever there is network traffic, LTC tends to offer a quicker turnaround time.
3. High market cap
When it comes to crypto betting, most people are always wary about using coins without good liquidity. I’m one of them. However, I’ve come to trust LTC because the coin has maintained a strong presence in the market for over a decade.
As I browsed the best Litecoin sportsbook websites online, I confirmed that the coin has a market capitalization of more than $6.3 billion. Moreover, you can find more than 75 million LTC in circulation. Be it buying LTC to fund or selling cash, you will never run out of options.
4. Solid security
Like Bitcoin, Litecoin uses the Scrypt proof-of-work algorithm. From my research, the network is more secure for transactions because it resists mining centralization. It’s also why Litecoin records consistent uptime and can withstand heavy risks like 51% attacks. The network has never been successfully compromised, so I’m confident my funds are safe at LTC betting sites.
Conclusion – Bet with Litecoin for speed and security
I have found Litecoin betting to be faster, less expensive, and more secure than betting with most other altcoins. The cost can vary, but then so does it with Bitcoin and all other altcoins. Therefore, if you are comfortable with the mercurial nature of crypto, LTC is one of the best coins to bet on. You can select a site from the banners on this page and begin today.