Litecoin Gambling: Is the Fruit Similar to the Tree?

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Before a wave named Ethereum overtook the cryptocurrency community, Litecoin used to be ranked the second most popular electronic currency (after Bitcoin). Nowadays, third place is not such a bad result for a cryptocoin that was developed as a fork of the Bitcoin Core client

Litecoin Gambling

Regardless of the rating, Litecoin established its foothold as a ‘digital silver.’ Recall the kind of images that are usually found in articles about the Bitcoin currency: a handful of gleaming gold coins with the stylized letter ‘B.’ Similarly, posts about Litecoin often feature pictures of silver coins shining with the letter ‘L.’

Such associations with silver are reminiscent of gambling. As in the case of the ‘big brother,’ the usage of this cryptocurrency in online casinos began to develop at a rapid pace competing with Zcash cryptocurrency and casinos popularity.

Due to the ever-increasing number of Litecoin casino sites, interest in this cryptocurrency is mounting — as are numerous kinds of bonuses. Therefore, before choosing where to spend and earn LTC, we advise you to look through offers and promotions at different portals. This will help you get even more pleasure from gambling.

Litecoin Vs. Its Predecessor

The Litecoin cryptocurrency is actually a ‘branch’ (fork) of the Bitcoin network. This fork was supported by the community, thanks to former Google employee Charlie Lee, who published the client’s source code on GitHub.

Despite the definitive technical similarity, there are a number of important differences between Litecoin and Bitcoin:

1. Transaction processing takes about 2.5 minutes, which is four times faster than in the case with Litecoin’s ‘big brother.’
2. The limit for LTC is 84 million units, while the maximum number of BTC is 21 million units.
3. In the Litecoin system, the Segregated Witness protocol and the Lightning Network are activated, which is considered innovative.
4. Litecoin is less prone to so-called ‘double waste.’
5. The Scrypt algorithm used by Litecoin complicates mining with video cards, FPGA, and ASIC devices. The Scrypt algorithm also simplifies production for users with ordinary CPUs.

Obviously, these features make Litecoin a unique cryptocurrency, contrary to the misconceptions about its complete identity with Bitcoin.

Here’s an entertaining fact: the smallest unit of Bitcoin was called ‘satoshi,’ after the creator’s name. With Litecoin, why reinvent the wheel? The one-millionth unit of LTC is called ‘litoshi.’

Users can receive and exchange Litecoins in the most popular currency exchange points, including CoinBase and BTC-E. The cryptocurrency has grown at an impressive rate: at the beginning of 2017, the Litecoin rate was about $4 per 1 LTC. In six months, one could get 1 coin for $40. If you still don’t have a Litecoin wallet, it seems now is the time to set it up.

Litecoin Gambling: Benefits and Opportunities

Impressive Litecoin benefits when playing on online betting sites are as follows:

• The ability to play anonymously. Your personal data is not collected and disclosed; a unique wallet number is used for transactions. Gambling portals also do not require any personal information or documents proving player identity;
• Fast transactions. Traditional transaction methods make you wait much longer – with LTC, the same funds are sent almost instantly;
• The ‘provably fair’ principle. In crypto casinos, gamblers can check the honesty of the game after each hand or spin;
• No transaction fees (or their extremely low cost). You can come up with a better way to spend this money;

Litecoin casinos also allow players to test their skills and try their luck in gambling before spending money.

In addition to traditional casino games (video poker, blackjack, roulette, slots, and dice games), you can have fun with other pursuits:

• Litecoin Hi-Lo: the players have to guess if the next card’s value will be higher or lower than the previous one;
• Ponzi Scheme: a game for those who dream of participating in a financial pyramid scheme;

In addition to Litecoin casinos, there are also bookmakers, where sweepstakes lovers can bet on the results of matches and competitions. There are also various lotteries that accept Litecoin.

How to Get Free Litecoins: Litecoin Faucets

If you do not like to risk your money, and the word “roulette” provokes a wave of nausea, keep your head up. The modern entertainment industry provides several ways to earn more Litecoin without leaving home.

One of the ways is incredibly popular: it’s about the faucets. The bottom line is that the resource pays users a small number of litoshi for staying on the website for a certain period of time (for example, 10,000 litoshi per hour). Why would anyone need to give out a cryptocurrency? It’s all about advertising that is posted on the site. In fact, the portal pays users a small amount for viewing the portal’s materials.

Enterprising people turn these faucets into full-fledged Litecoin games. The recipe is quite simple: sometimes it’s enough to draw a frog that jumps over platforms and collects coins. Users play while they are shown ad banners.