Legal Litecoin Gambling In 2022

WHAT IS LITECOIN GAMBLING?

Litecoin gambling is using the popular cryptocurrency to fund an online gambling account. Users can choose the USD amount of Litecoin they would like to send to their bankroll. Litecoin and other digital currencies are often used to fund online casinos, sportsbooks, and poker sites.

In the table above, our team has put together a list of the best online gambling sites that accept Litecoin. While there are some others, these sites are what our team feels are the best options for USA players based on their security features, legal standing, and entertainment options.

In the volatile cryptocurrency world, Litecoin operates like other currencies except without the regulation of a federal reserve. Litecoins have a fixed maximum volume set at 84 million coins that can be bought, sold, traded, or mined. The blockchain brings trust to the peer-to-peer network and keeps public records of transactions. Our similar guides to Bitcoin and Ethereum will explain how you can use those digital currencies to fund your online gambling account.

Litecoin is sold at online crypto exchanges where you can purchase crypto at its current value. Below, we have included some of our favorite exchanges that will allow users to purchase Litecoin.

• Coinbase
• Kraken
• Bittrex

As of late 2020, PayPal has started to support cryptocurrencies, including the LTC crypto. To buy Litecoin with PayPal, simply log into your PayPal app, select the LTC option from the crypto menu, and purchase as many units of the altcoin that you wish. However, at launch, remember that you will not be able to transfer LTC out of your PayPal account. This is a temporary restriction, so please wait before buying Litecoin via PayPal if you're doing so for online betting purposes.

Yes!

After nearly a decade of waiting, PayPal users can now buy Litecoin and other cryptocurrencies right from their PayPal apps. This is a major boost for the online betting industry, as hundreds of millions of users worldwide now have access to buying Litecoin more quickly and easily than ever before.

To buy LTC with PayPal, simply log into your PayPal account, navigate to the crypto trading section of the app, and select the Litecoin option. Then, just buy as much LTC as you want, and it will be credited to your account.

From there, once PayPal lifts its external transfer restrictions, you may be able to directly make Litecoin gambling deposits at your favorite legal betting sites. However, if that option is unavailable, you can just send your LTC to a Litecoin wallet or online Litecoin exchange, from which you can then make rapid betting deposits.

Before buying Litecoin with PayPal for use at legal online betting sites, we recommend waiting until PayPal allows outgoing crypto transactions. In the meantime, LTC can be bought at any reputable online crypto exchange.

Litecoin was created to rival Bitcoin, and since its launch, it has really established itself as a faster, cheaper crypto alternative. The major difference between the two is the value of each coin. Bitcoin reached an all-time high in 2021 of over $62,000, while LTC's all-time high peaked at nearly $390 in the same timeframe.

Other than value, key differences include the total number of coins theoretically available, transaction times, native blockchain fees, and cryptographic algorithms.

Players looking to get started using Litecoin to fund an online gambling account can easily navigate to the banking/cashier page of their betting site to get started. Once you are on the deposit page, you can select the payment option you would like to use – in this case, Litecoin. You will then receive a LTC address to send over any valid amount of Litecoin you wish.

Litecoin transactions take about two minutes on average. Once the payment has been processed and recorded, you can check your bankroll to see the funds and start gambling online for real money immediately.

Yes! Litecoin uses blockchain technology like Bitcoin, where users can assure their transactions are verified and public. Crypto is safer than traditional banking methods because users that fund their online gambling accounts with Litecoin don’t have to send personal information over the Internet or through the mail.

You will find the option to fund your account or withdraw with Litecoin on the cashier/banking page of your chosen online gambling site. Select the option you like, then hit the Litecoin link to send or receive LTC. It is really easy, and the sites we listed in the table above have simple steps to follow along with to assure you make no mistakes.

To convert Litecoin into USD, you will need to send your Litecoin back to a coin exchange and then trade it for US dollars. The value of Litecoin fluctuates based on the real-time value of the coin. Exchanges like Coinbase, Kraken, Bittrex, and others allow you to convert Litecoin to USD.

Another option that is likely to be available in the near future is to send your Litecoin from your gambling site to your PayPal app, as PayPal now supports LTC. While it is possible that PayPal will block transactions to and from online gambling sites operating legally overseas, if they don't go that route, you will be able to send your LTC to your PayPal account and then convert it to USD from there.

Crypto users often report several advantages of using digital currency online. These advantages range from faster transaction times to keeping personal information offline. You can also find great bonus offers for Litecoin users, and there are no associated transaction fees added by your site of choice.

Further, cryptocurrency betting with Litecoin and other crypto coins are the only ways to claim same-day payouts at most legal betting sites.

Yes, provided the casino you are playing at is operating legitimately within the industry and the games are fair and regularly audited to ensure best-in-class iGaming compliance. We only suggest reputable online casinos that hold current compliance records stating that a third-party gaming watchdog has tested their games. Legitimacy is one of the most important factors when it comes to any offshore betting site's reputation.