What’s Litecoin? Understanding Litecoin Casinos
Designed to be a lighter alternative to Bitcoin, Litecoin went live in 2011. Compared to Bitcoin, it has a four times faster block time, with an average of 2.5 minutes, making it a more viable alternative for transactions in the fast-paced online gambling environment. Litecoin has a finite supply limit of 84 million LTC and uses Scrypt, one of the more efficient blockchain algorithms, facilitating less energy-demanding transactions.
The nature of Litecoin makes the cryptocurrency a prominent deposit and withdrawal option for casino players. When you join top crypto casinos, you can send LTC directly to the casino’s crypto wallet, with a network of nodes and miners validating each transaction. Most casino deposits and withdrawals usually take about 8 to 15 minutes to settle. Once a casino transaction is complete, there is no way for the casino operator to reverse or change it, providing an additional level of security for casino players.