Litecoin Casino Canada Guide

Cryptocurrencies are slowly becoming the new normal in terms of online transactions. So much so, that in 2019, the cities of Innisfil and Richmond Hill in north Toronto started accepting cryptocurrency for property tax payments. The prospect of not carrying liquid cash is a tempting one, and this cashless option is now beginning to become a reality to punters who love playing at online casinos in Canada.

It is true that gamblers have had their stint in “cashless” transactions, largely because the vast majority use eWallets and bank cards to deposit and withdraw funds from their gaming accounts. But despite most of these contemporary depositing and withdrawing methods being easy and quick, they do come with dozens of hidden fees. Not forgetting that most banks have a negative attitude towards online gambling.

Luckily, the proliferation of cryptocurrencies like Litecoin has made it possible for players to easily conduct transactions with online casinos.

What Is Litecoin Anyway?

The emergence of Bitcoin in 2009 and the consequent explosion quickly led to many people regarding it as a potentially viable currency. And thanks to its decentralized format, many other platforms and cryptocurrencies quickly spawned, with Litecoin being one of them.

Launched in 2011 by Charles Lee, this cryptocurrency was largely modeled around the Bitcoin concept, and many people even considered it a spitting copy of Bitcoin. Basically, it works by storing all transactions on a common ledger, which is in turn secured using a series of mathematical equations. The mathematical equations are then coded and solved on an ongoing basis by a series of computer networks around the world. If you are familiar with Bitcoin, you may as well conclude that it is pegged on a similar concept.

What perhaps sets Bitcoin and Litecoin apart is the size and speed at which new blocks are generated. Since the blocks are the foundation upon which the two cryptocurrencies are built, they can significantly affect the speed at which transactions happen, which was a hurdle that Bitcoin faced once it started to gain traction.

On the other hand, the team behind Litecoin realized this thin ice and readjusted its model, with the aim of generating new blocks three times faster compared to Bitcoin. Accelerating the block generation speeds significantly improved the speed at which transactions go through using Litecoin.

From a gambling point of view, these two cryptocurrencies have very minor differences. If you can find a gambling site that offers Litecoin as a payment option, you are able to use it to either deposit and withdraw funds from your gaming account.

And that’s exactly what we are here to do...Help you find the best online casino in Canada that accepts Litecoin.

Caveat

All the lists of our recommendations are strictly based on the reputation of a casino. Nothing more nothing less. Real, raw, and authentic reputation that is primarily derived from industry best practices, customer feedback, games library, value to the player, and customer support responsiveness.

We truly understand how frustrating it can be to get a good online casino that you can confide in, and that’s why we have handpicked the best, safest, and secure gambling sites for you. And even though there are dozens of LTC casinos in Canada, King Billy is one of the leading.

King Billy Litecoin Casino Canada

If you are a themed casino enthusiast, King Billy’s fun and exciting medieval theme will without a doubt dazzle you. Established on Saint Patrick's Day in 2017, the casino offers players a generous deposit match bonus and extra spins that can be redeemed when playing slots. Along with that is an exciting tiered VIP system, which rewards loyal players at the casino.

King Billy’s gaming portfolio lives up to the hype, thanks to 2,000+ premium slot games from leading online gaming software heavyweights such as Games Global, NetEnt, Betsoft, Wazdan. You will also love the Live-streamed games at King Billy casino, courtesy of Evolution Gaming and Ezugi.

In terms of banking, King Billy Casino Canada allows you to use a broad range of banking options to add funds to your account and cash out your winnings including cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Tether. But that’s not the best part, Canuck punters can deposit in Canadian dollars and withdrawing is free and instant.

King Billy Litecoin Casino Deposits and Withdrawals

The number of punters transitioning from the brick and mortar casinos to their online cousins has continued to grow over the years. This is largely due to the ease, convenience, enhanced flexibility that comes with online gambling. However, one of the biggest dilemmas such players face touches on how they can withdraw the winnings accrued while playing online. And rightfully so, having a clear idea on how to withdraw your winnings is one of the most critical elements of online gambling.

In the traditional brick-and-mortar gambling houses, a player has the luxury of claiming their winnings immediately by exchanging the accumulated chips in exchange for cash. All that is required is to walk up to the cashier box and request cash in exchange for their chips. Clearly, this is not the case when it comes to online casinos, especially considering you can’t physically touch the money.

Below, we have curated a step by step guide on how to deposit and withdraw money in a Litecoin casino.

How to Deposit Litecoin Casino

Deposit transactions at Litecoin casinos are simple and straightforward.

The first thing you need to do is to open a personal Litecoin wallet. Depending on the device you are using, you can choose between a PC or smartphone Litecoin wallet. Alternatively, you can visit your favorite Litecoin casino and download it from there as most casinos give players a downloadable Litecoin version.

Once you have opened a Litecoin wallet, you will receive private and public address keys. As the name suggests, the private keys are meant to authorize your online transactions, while the public address keys are shared with someone intending to send you Litecoins. Always store your private keys in a safe and secure place to prevent someone from stealing them.

The next step entails getting some Litecoins. For this, you can purchase them on an exchange or from somebody looking to sell theirs.

After that, login into your gaming account and add Litecoin as your preferred banking method under the cashier page.

Next, click the “Deposit” button, and your casino’s public address will be displayed as a QR code or as a line of characters. Either scan the QR code using a smartphone or copy the characters and paste them into your Litecoin wallet.

Finally, enter the amount you intend to send and confirm your transaction.

The funds should reflect in your account within 10 minutes.

Withdrawing from Litecoin Casinos

Withdrawing your winnings from a Litecoin casino is a piece of cake too. Simply follow these easy steps;

Simply choose Litecoin as your primary banking option.

Next, request your online casino to authorize the transaction.

Provide the verification documents to the casino.

Once your details check out, the payment will be authorized. And just like in depositing, Litecoin withdrawal turnaround time is 10 minutes. Only after then will your funds be processed.

Advantages of Using Litecoin in Online Gambling

There are several benefits of using Litecoin as your banking method in an online casino. They include;

Generous Bonuses

One of the biggest reasons why gaming sites are quickly embracing cryptocurrencies is because they are much cheaper compared to other methods like bank transfers and Visa cards. By saving all these costs, they are able to trickle down these savings to you in the form of generous bonuses and promotions. In fact, some gaming sites have been able to double their bonuses for players using Litecoin to deposit.

Security

Another great advantage of using Litecoin for your online gambling transactions is that you remain anonymous, making it almost impossible for your personal details to be compromised. Along with the privacy, the decentralized and redundant nature of blockchain technology eliminates single points of failure, and you can rest assured that your banking information is safe.

Withdrawal Speed

With no mails, couriers, or banks involved, Litecoin transactions processed at a much faster speed. Using LTC, your funds are processed within minutes compared to other traditional payment methods that require you to wait for several days.

Lower Fees

Although most online casinos have ceased charging withdrawal fees, there are those that still do. In case, you are using such a mobile casino, you will be charged less using Litecoin for payouts compared to those using a wire bank transfer or a check.

Disadvantages

One of the main disadvantages of using Litecoin is its absolute anonymity. This means it can potentially be used for illegal activities.

Litecoins are relatively unsafe compared to Bitcoins. Worse still, their market value keeps on fluctuating, meaning you may actually end up making losses.

Final Thoughts

Although Litecoin casinos aren’t as widely available as Bitcoin casinos, they are an excellent alternative for players who love Cryptocurrencies. However, given that Litecoin transactions are considerably faster compared to most of the other crypto transactions and that it doesn’t cost much to transact, Litecoin casinos undoubtedly have their appeal and are definitely worth trying.

If you are a new player residing in Canada shopping for a Litecoin casino to kickstart your gambling adventure or even an old-timer looking to try out something new, check out our list of the best Litecoin casinos in Canada in this review.

FAQ Section

What is a Litecoin casino?

Litecoin casinos are online gambling sites that offer deposits, withdrawals, or even a combination of both using Litecoin. There has been a surge in the number of Litecoin casinos in Canada and beyond, which has primarily been informed by Litecoin’s success in facilitating faster and cheaper digital transactions

Is online Litecoin casino legal in Canada?

Absolutely yes! Litecoin casinos are perfectly legal in Canada, as long as the online casino you are using is legal. Online gambling in Canada is considered a grey area, considering that in some regional provinces it is illegal, while others allow it. If you are living in a province where online gambling is illegal, it’s perfectly okay to play via offshore online casinos.

How to play Litecoin casino online

Playing at a Litecoin online casino is as simple as it is when playing in a regular online casino. The only difference is the payment and withdrawal method. Simply look for a reliable online casino that offers Litecoins, register an account, choose Litecoin as your primary payment option, deposit funds in it, and get cracking. The games you will play at a Litecoin casino are similar to those available in other regular online casinos.