Litecoin Gambling: How to Bet on Sports & More with LTC
Litecoin is a leading digital currency mostly known for being Bitcoin’s “little brother,” as it was one of the first altcoins in the market. However, unlike most early altcoins, Litecoin stood the test of time and remained one of the largest cryptocurrencies by total market value.
Learn how to go about Litecoin betting to get the best experience on 1xBit.
Table of Contents
- What is Litecoin?
- Why is Litecoin So Popular?
- How to Bet with Litecoin on 1xBit
- Start Litecoin Gambling on 1xBit Today
What is Litecoin?
Founded two years after Bitcoin in 2011, Litecoin is an open-source global payment platform without any central authority. Having been formed from Bitcoin’s original open-source code, it emerged to be among the first altcoins in the market. On inception, the founder Charlie Lee described it as the lite version of Bitcoin.
Litecoin has many similarities with Bitcoin, but with a couple of improvements that the founders thought would make it better.
Litecoins are created through the process of mining, generating a new block every 2.5 minutes. Hence, it has a faster block time than Bitcoin and many other cryptocurrencies in the market today. As a result, it is faster and easier for everyday transactions, including Litecoin sports betting. Gamblers and betting fans worldwide love to use Litecoin to place bets online.
Litecoin is also perfect for sending funds overseas near-instantly and securely with lower transaction fees than many other cryptocurrencies. This makes Litecoin gambling easier and less expensive.
Why is Litecoin So Popular?
Litecoin is at least four times faster than Bitcoin and has much lower transaction fees than many other cryptocurrencies. If you’re a Litecoin sports betting fan, you'll be glad to know that the coin makes gambling on 1xBit easier and better.
Litecoin has a thriving online community supporting the cryptocurrency for over a decade. While Litecoin doesn’t have the same buzz as many smart contract-enabled blockchains, like Ethereum or Binance Smart Chain, the digital currency has stood the test of time and remains a popular online payment method.
The Litecoin community has also recently launched OmniLite, a decentralized platform for token creation. Through OmniLite, stablecoins can be mined based on Litecoin’s blockchain. Stablecoins are more ‘stable’ as they are usually pegged on currencies like the US dollar or gold.
Betting with Litecoin is faster and cheaper than most cryptocurrencies, which is why it has become a popular currency among betting and gambling fans.
How to Bet with Litecoin on 1xBit
Litecoin betting on 1xBit is a fast, simple, and cheap process. Through the following simple steps, you'll learn how to deposit and place a wager on 1xBit. Before proceeding, ensure you have a Litecoin wallet that holds LTC.
- Open your browser and go to the 1xBit website to register an account.
- Enter your email address and the desired password on the form provided. A pop-up will appear with the details such as your email, account number, and the password you chose. Ensure you save these details safely for future reference.
- You’ll also get an email notification from 1xBit requesting you to confirm your account by clicking on the link provided therein.
- After confirming, you can now be using the details you saved to log into the 1xBit platform.
- Once you get access to the 1xBit platform, top up your account using Litecoin from the list of cryptocurrencies provided.
- Select Litecoin, then press “Confirm” to continue. Ensure that you have read and understood the payment instructions.
- A 1xBit wallet address will be provided where you can deposit the funds in LTC. You can also scan the QR code provided to deposit the LTC to the 1xBit cryptocurrency wallet.
- The Litecoin deposited is represented as mBT on the 1xBit platform. mBT is the currency denomination used by the 1xBit website, which is 1/1000th of a Bitcoin.
- After purchasing LTC from the exchange, transfer funds to the 1xBit wallet address to start waging your bets. The minimum you can deposit is 0.004 LTC.
If you don’t have a Litecoin wallet, press “Buy Cryptocurrency” on the platform. You will be directed to an exchange where you can buy Litecoin and receive a Litecoin wallet.
Start Litecoin Gambling on 1xBit Today
On 1xBit, you can fund your betting account with Litecoin and play a wide range of casino games such as Lottery, Poker, Roulette, Slots, Blackjack, and more. Also, there are eSports games you can place your bet on at 1xBit, including League of Legends, Eternity League, StarCraft II, and more.
With Litecoin betting, there aren't any geographical restrictions as you don’t need to provide your personal details when funding your account or withdrawing your winnings.
All winnings are instantly deposited to your 1xBit account, and you can withdraw them at any time through the cryptocurrency of your choice.
Sign up for a free 1xBit account and start betting with Litecoin today.