Cryptocurrencies have been a hot topic for quite a while, so no wonder more and more Indians see them as an alternative to traditional payment methods such as cash, credit cards, and eWallets. Not every bettor can easily get their hands on a bunch of bitcoins, which is the most popular cryptocurrency in the world, but that is no reason to despair, as there are plenty of alternatives it and one of the most popular ones is litecoin.
Almost identical to bitcoin, litecoin is one of the most coveted cryptocurrencies on the market and is offered by more gaming sites. Such websites are often referred to as litecoin online casinos. This guide will help you understand everything there is about this popular crypto, how to use it for depositing and withdrawing, and all costs and procedures associated with as well as the good and bad sides of it.
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How to Use Litecoin in Online Casinos
Online casinos with litecoin are all around you, and all you have to do is pick one that supports them. The easiest way to do so is by asking customer support, checking the payments page, or simply looking for a logo (capital L with a small line across it). LTC casino sites are all very similar, but keep in mind how some might require additional steps during depositing and withdrawing. In this part of the article, we focus on the most common payment procedures.
How to Sign Up
Litecoin gambling is right at your fingertips, and all you have to do is register with a bitcoin casino in India. Click the signup or registration button, and you will immediately get access to an online form. Most casinos will only ask you to provide your name, email, address, and phone number, while others might require phone verification or that you deliver some documents immediately after you sign up with them. Don’t worry, this is a standard safety policy that guarantees your winnings go into the right hands.
Litecoin deposit casinos handle transactions somewhat differently, so pay close attention. First, you will need some litecoins. In case you don’t have some already, you will need to open an account with a crypto wallet and buy some litecoins with fiat currencies (INR, USD, EUR, GBP, etc.). The wallet has two important elements to it – address and key. The address is simply a destination where the money should go, unique, just like your bank account number. The key is a sort of password you use to authorize every transaction.
After you have your wallet all set up, head over to the casino’s cashier and choose bitcoin. There, you can simply choose litecoin from the list of available payment methods, type the amount you wish to deposit and scan the QR code to complete the authorization. Of course, instead of using QR verification, it is also possible to verify the payment manually by letter entering the information letter.
The withdrawal process is, more or less, the same as the depositing process, it just goes the other way around. You enter the amount you want to withdraw and scan the QR code or manually enter your address and verify the transaction. As you can see, having a mobile phone ready when playing at litecoin sites is more than a good idea.
The minimum deposit is the minimum amount that can be transferred to the casino, and therefore part of the litecoin gaming policies. Most online operators will have a deposit minimum that ranges anywhere between $5 and $20 (of course, there are also more expensive casinos). Now, you are probably wondering why are we mentioning USD when you want to play with litecoins?! The answer is straightforward: cryptocurrencies, despite their increasing popularity, are still somewhat niche products, and there are much more players who prefer using standard payment methods and currencies. However, once you decide to make a deposit, the cashier will do a quick calculation and inform you how many litecoins you have to deposit (equivalent to the requested amount in USD). You don’t even have to bother with doing the math by yourself!
Additional Fee and Withdrawal Time
Usually, there are no processing or withdrawal fees associated with litecoin, and all withdrawals are pretty quick and take only around 10-15 minutes once the request has been processed. But does that mean you will get 15 minutes after you ask for a payout? Not really, as most litecoin operators have policies requiring you to provide some documents and your account before a cashout can happen. Due to some international banking standards, you might have to wait up to 72 hours (also known as the pending period) for the company to complete the entire process of withdrawal approval. Before giving up on litecoin gaming sites, understand how the procedure is the same, regardless of what method you use.
Pros and Cons
By now, you already have some general knowledge of online casinos that accept litecoin. Still, before you make the final choice, we created a small list of all its downsides and good sides, as we strongly encourage our readers to make educated decisions rather than guess what method is best for them.
- Speed – whether you play classic games or enjoy litecoin live casino, one thing’s for sure: your payouts and deposits will be as fast as lightning! Once you are done with the entire verification process and the pending status is expired, you won’t have to wait longer than 10 minutes to enjoy your payouts (and we are very generous here because, at most times, the payment is instant).
- Anonymity and discretion – unlike credit cards or bank wire, where the company sends the complete list of all transactions to your home address, litecoin is incredibly discreet and anonymous. Some specialized crypto casinos won’t even ask you for an account verification! Casino games with litecoin have never been so fun!
- Safety – as long as you are using some basic safety measures (such as never sharing your account details with others), your litecoin wallet will be much safer than any eWallet on the market, simply because of special authorization that takes place upon every transaction.
- Not many casinos available – if you want to play litecoin slots, you better be ready to do some extensive search because, even though there are more of them every day, such casinos aren’t exactly mainstream yet. One of the easiest ways to find such a casino is to check out our list.
- Complicated – for punters who are not used to online deposits and prefer doing things the old way, even the best litecoin casino online can be quite intimidating with all the QR codes, keys, and different payment procedures. Even though all it takes is a transaction or two to get used to it, some players won’t find this payment method suitable for them, and that is okay.
Litecoin in India
Litecoins are becoming so popular, it is impossible to miss them, and India is one of the countries where it seems to do better than in many others. Thanks to insane technological growth in the past few decades, India has become one of the world's IT forces, and it is well-known how the IT-crowd tends to accept such unique innovations much faster than common people. According to Economic Times, many Indian tech-enthusiasts prefer to be paid in cryptocurrencies (including bitcoin) rather than INR. Many software engineers and coders from India work for offshore tech companies and crypto startups and are paid in cryptos because they get to avoid all the pesky banking fees, enjoy fast transactions, and even avoid taxation.
But is litecoin legal, and can you end up in jail simply for owning a coin or two? At the moment, there are no laws that forbid you to purchase, own, sell or even gamble in litecoins (at least as long as gambling is not illegal in your state). No one knows what the future holds, but one thing’s for sure – local regulatory framework makes little to no effort to stay in touch with the latest tech innovations such as cryptos, and it may take years, if not decades, for laws to catch up and ban litecoin.
As technologically advanced companies, online casinos have welcomed the litecoin trend as well, not only because it allows them to attract more customers, especially those unkeen to traditional payment methods, but also because it supports portfolio diversification and further platform innovation.
Litecoin Alternatives for Gambling
If this entire litecoin online casino thing is not for you, we reassure you that most of them offer alternative payment methods as well. There is nothing wrong with wanting to have an extra method to use or prefer something that is not crypto-related. In the list that follows, we will list the best payment methods you can use instead of litecoin.
- Other cryptos – if litecoins slots aren’t your thing, you might want to enjoy your favourite games by using bitcoin, ripple, ethereum for gambling, or any other crypto provided by the casino. All cryptos have the same characteristics: they are incredibly safe and astonishingly fast when it comes to money transfers.
- eWallets – in many ways, eWallets like Skrill and Neteller operate in the same way as litecoin but can be used with fiat currencies as well. That way, you never have to have a crypto wallet or use exchanges to enjoy yourself at an online casino.
- UPI – some local Indian payment methods might be as cheap, fast, and accessible as litecoin, and you already have an account with them. Instead of litecoin, you can always use UPI for gambling
Top Litecoin Online Casinos
No player wants to waste time researching what the casino industry offers, especially if they want to play some games as soon as possible. To help you find the best litecoin casinos, we created a list of top-performing brands that accept India's players.
- 7bit Casino – launched in 2014, this casino has more than 600 games, and a lucrative 100% bonus plus 100 free spins upon your first deposit.
- Casino BTC – this brand new site has a breathtaking welcome package, spread on your first five deposits that totals up to 5,000 LTC.
- Bitcasino.io – a litecoin site that comes with more than 1,200 games and a bonus on your first two deposits!
1️⃣ Are litecoin casinos legal in India?
- Litecoin casinos operate legally as long as they have a valid operating license. Most casinos have a license issued by the UKGB, MGA, or Curacao regulatory authority on our website. Always look for the license number, usually located somewhere at the bottom of the website.
2️⃣ Can I buy litecoins online?
- You can get some bitcoins in two ways – by mining them online (which is the hard way to get them) or simply exchanging the INR for some LTC on an online exchange platform. That way, you will be able to play at your favourite casinos in mere minutes, as mining usually takes time, not to mention advanced supercomputers. You will also need a crypto wallet where you can store your LTCs.
3️⃣ What are the most popular litecoin gaming sites?
- We recommend you play at 7bit Casino, Casino BTC, and Bitcasino.io. You will find many more on our website, and all of them have been tested and approved by our team of dedicated experts.
4️⃣ Can I deposit litecoins via mobile?
- As long as your casino supports mobile payments, nothing is holding you back from making a transaction in litecoins. Luckily, nowadays, all casinos on the market offer mobile payments in one way or another (app or mobile website). Considering it is impossible to scan QR code this way, make sure to verify everything manually.