Litecoin Casino

Litecoin, the accessible cryptocurrency

Litecoin (LTC) or ltc crypto is an altcoin very similar to Bitcoin, designed for peer-to-peer payments. It results from a hard fork with the very first cryptocurrency. Split in 2011, it is designed by Charlie Lee who also wanted to make improvements to the invention that was Bitcoin. Like him, it uses blockchain technology. Created by mining, the maximum amount of units in circulation is limited to 84 million.

This closeness to Bitcoin means that Litecoin shares many of the same characteristics. But what is the point of one cryptocurrency being like another? What is it worth as currency?

Why was Litecoin created?

While Litecoin is often singled out for its similarities to bitcoin, it was designed to be faster and more convenient than its counterpart. Indeed, Bitcoin’s unprecedented popularity has slowed down its transactions and increased its fees. Moreover, it has increasingly become an object of speculation. In Lee’s eyes, bitcoin was moving further and further away from being a secure and fast peer-to-peer payment. Hence the Litecoin.

If a fork (modification of the blockchain protocol) occurs, it is always in the desire to improve. Like many cryptocurrencies like Bitcoin Cash, the changes intended by the Litecoin designer could not be added to bitcoin. So he took the code of the blockchain and embellished it to his liking before giving it a name.

What is litecoin worth?

Compared to Bitcoin and its exorbitant prices, Litecoin plays in a slightly more modest league with successful cryptocurrencies like Dash. Indeed, the value of Litecoin has been hovering around 100 euros since the beginning of 2022.

Make no mistake, this value could fall back very quickly. Litecoin’s price has indeed been on a rollercoaster ride since 2011. In 2013, it dropped to $5 before rising to $50. It also benefited from the good years of cryptocurrencies, as it had a very large implosion in 2017, going from $4 to $371.

In practical life, we can say that Litecoin has succeeded in its bet. Initially designed to be more accessible, easier and a true peer-to-peer payment method, it is now used on most platforms that integrate cryptocurrencies as a payment option. What’s more, it is so democratized that it is easily found on exchange platforms.

How do I get Litecoin?

Application of blockchain technology, money creation is done by mining. But the most common option at the moment is to buy.

• Mining Litecoin

Litecoin is truly about simplicity and this is reflected in the mining process. Indeed, mining involves installing mining software and processing hypercomplex mathematical calculations issued by the Litecoin algorithm. In fact, we take care of validating and consolidating a new block of the blockchain. In return for this participation, you receive tokens.

In the case of Litecoin, a new block is formed every 2 minutes 30 seconds and miners are rewarded 25 LTC per block. The advantage of mining Litecoin is that it does not require ASIC machines where only the most equipped can participate. Newbies can join a group of miners (a “pool”), as the competition is tough, they can then try their luck on a Litecoin Casino!

Which “Casino Litecoin” to choose?

There are online casinos that accept cryptocurrencies, but do not accept withdrawal. Here we highlight the “ Pure Crypto Casino “which accepts payment and withdrawal anonymously. Moreover, with Litecoin casino, the player is paid in minutes, a record time, hence the interest of Litecoin Casinos!

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Buy Litecoin (LTC)

More exactly, Litecoin can be exchanged using fiat currencies such as the euro or the dollar. This kind of operation is done on exchange platforms. For the euro, the best known is Coinbase, but there are dozens: Kraken, Bitstamp, Binance or Bitbay. While cryptocurrency is famous for its discretion, this is not the case with the platforms. To discourage money laundering, you must confirm your identity when you register. Some individuals also offer Litecoin sales.

In order to keep the units earned, you must have a portfolio. There are several types depending on the needs: mobile, office or hardware.

What you should know about Litecoin

Tenth out of about 100,000 other crypto-currencies (CoinMarketCap), Litecoin is now a popular crypto-currency with arguments in its favor.

• Fast and cheaper transactions: to be as convenient as possible for daily transactions, Litecoin Cash performs twice as many transactions per second as bitcoin and charges a fee per 1,⁰⁰⁰ Litecoin.
• A very different vocation from bitcoin: Litecoin wants to correct bitcoin’s tendency to be an object of speculation. Litecoin aspires to be a currency as convenient and common as cash.

A lower value: at around 100 euros (May 2022) this crypto currency is much more accessible. It is also more shabby than other cryptocurrencies with blocks of 25 LTC every two minutes.

🙋 Frequently Asked Questions Casino Litecoin

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