Crypto 101: Reasons Why You Should use Litecoin
Litecoin (LTC) was created in 2011 by Charlie Lee, an MIT grad who used to work at Google. It’s one of the first altcoins inspired by Bitcoin’s (BTC) open-source code. LTC is like a lighter, faster version of BTC. It can handle 54 transactions per second (tps), while Bitcoin only manages about seven tps.
LTC was designed to boost storage and work as a more efficient proof-of-work mining system. At its best, it was the third-largest crypto by market cap from 2017 to 2021. Fast forward to 2024, and LTC is still a popular choice for online transactions. Check out the points below to see why it’s still a favourite!
Faster transaction times
LTC online casino deposit is quick, so you can jump into your favourite games. This speed is thanks to LTC’s ability to handle over 50 tps, which is way more efficient than Bitcoin casino. Moreover, many crypto gambling sites have low minimum deposit limits for LTC, so you can start playing without spending much money. If you’re a high roller, don’t worry— high limits are available.
Cost-effective betting
One benefit of using crypto at online casinos is that it saves you on transaction fees. When you use fiat money, you pay extra fees since banks and middlemen take their cut. However, everything goes through the blockchain with LTC, so no banks are involved. That means you get low fees, around $0.03 on average, which is a sweet deal!
Improved security features
LTC uses blockchain tech to keep track of every transaction, ensuring that nothing can be changed once it’s recorded. It uses cryptography to keep your transaction details and personal info safe, making it tough for anyone who shouldn’t see it to gain access. Plus, you can only obtain your funds with your private keys, which only you know. This setup is safer than standard banking, giving people a more secure way to handle their money online.
Where can you store your Litecoin?
To keep your LTC safe, use reliable and well-known crypto wallets. There are different types of crypto wallets available, such as the following:
Hardware wallets
Hardware wallets are like little gadgets that keep your private keys stored offline, which greatly lowers the chances of getting hacked online. They’re secure but not the easiest to carry around since you usually need something like a laptop to access them. If you’re looking to store LTC, the Ledger Nano S, Ledger Nano X, and Trezor are reliable options.
Software wallets
Software wallets are how people manage their crypto using their computers, phones, or online. Desktop wallets, like Electrum, are pretty secure but need to be online, while mobile wallets like Trust Wallet are great for on-the-go convenience but can be risky if you lose your phone. Online wallets, such as Coinbase, let you access your crypto from anywhere, but you’ve got to choose secure platforms to keep everything safe from threats.
Experience the convenience of Litecoin gambling
Litecoin’s speed, low fees, and enhanced security make it an ideal choice for online gaming. You can seamlessly enjoy these benefits while exploring games and features at online casinos like Bitcasino. Sign up today and elevate your gaming experience with Litecoin!
