Litecoin Online Casinos of Canada
Many Canadians are passionate about online casinos but also about cryptocurrencies. Since the integration of virtual currencies into gambling platforms, payment solutions have rapidly diversified by offering more and more new cryptocurrencies. Litecoin is one of the most popular currencies currently on offer. Discover the specifics of crypto-casinos offering Litecoin as a payment method and how to choose them and make Litecoin transactions.
The popularity of crypto-casinos in Canada
Canada is among the Top countries where the population plays online casinos the most. In fact, Canada has a wide variety of gambling platforms. With the recent advent of cryptocurrencies as a payment solution, players have quickly adopted this modern and revolutionary method.
Cryptocurrencies have never been banned in Canada, although no clear legislation has been passed regarding them. In recent years, regulations regarding cryptocurrency trading have begun to be enforced. This initiative has reassured players who are gradually switching to this new payment method.
Today, almost all Canadian online casinos offer cryptocurrencies among their payment options. Litecoin and other virtual currencies are slowly replacing fiat currencies, and Canadian players are getting used to their use.
Non-Litecoin cryptocurrencies used in Canadian online casinos
Litecoin is one of the most important virtual currencies currently on the market. There are a wide variety of other cryptocurrencies available from crypto-casinos. Here is a selection of some of the most frequently used and also some of the most important.
Bitcoin is the most important cryptocurrency in terms of market capitalization and value. The price of one BTC easily exceeds $23,000, making it the most expensive currency. The high price of this cryptocurrency makes it less affordable compared to others. Any bitcoin price change also directly affects the price of all other cryptocurrencies. This shows its influence and importance in the crypto market.
Ethereum is the second most crucial cryptocurrency, just behind Bitcoin. It is also one of the oldest, and its value is expensive but much less than Bitcoin. Its price fluctuates between 1,500 and 2,000 dollars. This makes it a bit less accessible, especially if you only want to use it for playing in crypto-casinos. However, for speculation, it is particularly interesting.
Dogecoin is a cryptocurrency that has seen a meteoric rise in the market. Today, it is among the most important, like Bitcoin, Ethereum, or Litecoin. What makes it unique is its value, which remains very affordable, despite its place as a reference crypto-currency. It trades for less than $0.08, which is very attractive for those who want to use it mainly for entertainment in online casinos.
Tether is part of the stablecoin category. In other words, it is a cryptocurrency whose value remains stable and does not fluctuate. The U.S. dollar backs the value of Tether. Stablecoins are generally used as a haven to protect yourself from the volatility of the market of other cryptocurrencies.
Litecoin Gambling Highlights
Using Litecoin as a payment method in online casinos provides many benefits. Here are the main highlights we can mention.
Respect for your anonymity
By using cryptocurrencies as a payment method, you ensure complete anonymity. Indeed, no information or personal data is disclosed and shared with third parties. This is one of the main advantages of using blockchain technology.
Another advantage of blockchain is the level of security offered for transactions. It is impossible to falsify or commit fraud when you perform financial operations since each transaction is recorded on the blockchain. Moreover, no third-party organization such as a bank comes into play. This minimizes the risk of misappropriation of your funds.
A decentralized and easy-to-use system
Cryptocurrencies operate in a completely decentralized manner. In other words, they are not managed by any other entity, the government or banks. You don't need a bank account or a card to become a holder of virtual currencies and use them in online casinos.
Litecoin has the distinction of offering speedy transactions. In theory, its transaction speed is four times faster than Bitcoin. Its speed also far surpasses traditional payment methods. Your transactions are validated very quickly, even instantly. So you can play right after you make your deposit or withdraw your winnings after you send the withdrawal request.
A final advantage of using Litecoin is the transaction fees. You will be charged low fees compared to traditional payment methods. It is even possible that no fees are applied. This is because there is no mediator involved in the transactions.
Criteria for choosing the best Litecoin online casino
Today, crypto-casinos can be counted in numbers. Almost all online casinos accept cryptocurrencies as a means of payment. With so many choices, how do you find the right online casino? Discover some important points at AltGambler page to consider that could help you.
Security is the essential point when it comes to online money transactions. An excellent online casino should offer the best security measures to protect players and their assets. First, ensure that the casino has an operating license from a recognized organization. This demonstrates the reliability of the casino.
Also, check other measures such as data encryption technology and efforts to secure your accounts such as password complexity, 2-factor identification, or other devices.
Check, first of all, if the casino in question supports Litecoin as a payment method. Next, look at the other cryptocurrencies available. The more, the better. This will give you the opportunity to vary your payment methods in the future.
The casino's game library
A good casino should also have various games in its catalog. With developers placing more and more trust in crypto-casinos, the titles should be as numerous as those in conventional casinos.
Bonuses offered by the platforms
Online casinos are popular with players for their many bonuses and promotional offers. Platforms that support cryptocurrencies as a payment method often offer exclusive perks when you choose virtual currencies for your deposits and withdrawals. So make sure that the casino offers this kind of exclusive bonus. Free spins and extra multipliers are always welcome.
Customer service accessibility
Customer support is there to answer your questions or solve your various problems related to using the online casino. The technicians must be reachable as best as possible and at any time. Phone calls, emails, and live chats should be among the ways to reach them. In addition, seven days a week, 24-hour support ensures that you will be able to get help at any time.
Interests related to crypto games
Are you still hesitating about switching to a cryptocurrency payment method? Here are a few more reasons that should convince you.
A way to have fun and invest at the same time
Crypto-casinos is an excellent opportunity to entertain yourself and invest in cryptocurrencies simultaneously. Indeed, by betting on cryptocurrencies, you have the chance to invest while making your winnings grow. On the other hand, you can have fun spending time on gambling platforms without putting pressure on yourself.
A modern payment solution
Cryptocurrencies are increasingly used as a payment solution in stores, restaurants, and to pay bills. Online casinos are not left out and are also embracing this new technology to best meet players' expectations.
A progressive replacement for fiat currencies
Within a few years, expect cryptocurrencies to replace fiat currencies worldwide wholly. By now trying your hand at crypto-casinos, you can familiarize yourself with the crypto-currency environment and more easily adapt to this revolutionary payment solution.
Making Litecoin deposits: the steps
Here are the main steps to follow if you plan to deposit at a Litecoin casino:
Purchase, in advance, Litecoin crypto-currency from a reliable online broker;
Have a physical or software digital wallet in which you will store your crypto-currency;
Sign up with a crypto-casino that offers Litecoin as a payment method;
Opt for Litecoin as the transaction currency when depositing;
Set the address of the wallet containing your Litecoin;
Complete the transaction by filling in the deposit terms.
Some figures about Litecoin online casinos
To give you an idea of how crypto-casinos have evolved over the past few years, here are some figures that illustrate their progression in 2021 and 2022:
There is a 28% increase in cryptocurrency betting in the space of 3 months during 2021;
This increase is seen at more than 180% over the course of a year, between 2021 and 2022;
In 2021, 15.7% of bets were made with cryptocurrencies, and 84.3% were made with fiat currencies. In 2022, 43.3% of bets are made with cryptocurrencies and 56.7% with fiat currencies.
Advantages and disadvantages of LTC casinos
Find the main strengths and weaknesses of Litecoin crypto-casinos in this next section.
Total respect for your anonymity;
A system using a decentralized network;
Very low or no fees;
Interesting exclusive bonuses.
Litecoin is not as widespread as Bitcoin or Ethereum in online casinos.
Is using Litecoin in online casinos legal?
Yes, it is entirely legal to use Litecoin in Canadian online casinos.
Can I make withdrawals in Litecoin?
Yes, you can withdraw your winnings in Litecoin. The steps are simple, and the transactions are fast.
How do Litecoin online casinos work?
Crypto-casinos works the same way as regular casinos, except they allow crypto-currencies as a payment method.
What is the value of Litecoin?
The value of Litecoin hovers around $60.