Litecoin Esports Betting Review – Best Betting Sites That Accept Litecoin
Crypto-currency is the new trending alternate payment method in the esports industry. Many bookmakers are already offering Litecoin esports betting payments for both deposits and withdrawal. Esports enthusiasts are increasingly joining esports betting sites that accept Litecoin.
It was in November 2013, when Litecoin appeared into the light and became a topic of discussion nearly everywhere, after jumping a massive 100% in its trading price within 24 hours. Its price then stayed quite range bound until March 2017 when it showed exorbitant performance in its price rally from $4 to $360. This crypto-currency has gained worldwide recognition and is, in fact, preferred by many people over Bitcoin because of its low volatility.
More about Litecoin eSports Betting
Litecoin betting sites will usually ask for the email address of the user. Unlike other payment methods like credit cards and debit cards, you do not have to provide any of your personal financial information to the esports site. Although this is beneficial for the confidentiality of your privacy, it does come with a disadvantage. Many esports sites are choosing Litecoin for payments because crypto-currencies require minimum standards and legal regulations.
What this means is that any gambling site can accept bets using Litecoin. Therefore it is advisable to check the reliability and past history of the bookmaker before making any deposit. Paying money for esports with Litecoin comes with zero to minimal fees, making it feasible to deposit very small sums of money.
You can bet with Litecoin to get some good chances of winning more coins. Place bets on popular games like League of Legends, CS:GO, StarCraft 2, Dota 2, Heroes of the Storm, etc.
Benefits of Litecoin eSports Betting
There are certainly many benefits to using it such as safety, speed, and low speed.
– Litecoin fees are comparatively very low ranging in a few cents, which means that the user can deposit as small funds as $1. These fees are insignificant when compared to the high fees and minimum deposits of $100 for other available payment methods. Transactions in Litecoin are 4 times faster than Bitcoin. It is equipped with script hash function which requires less computing power when compared to SHA-256 of Bitcoin.
– The digital wallet in which you store your digital currency can be accessed only through the internet browser. The wallet has a password and an access key, both of which are almost impossible to hack. You can easily save your coins on your PC, Mac or USB. This is not recommended since the loss of USB, or the death of your PC means loss of your coins eventually.
– Esports betting sites that accept Litecoin offer extra bonuses to users who prefer it for placing bets. They are promoting the payment method as it means lesser fees and thus more revenue for themselves.
– One of the best advantages of Litecoin betting is that the winning can be withdrawn to any similar wallet, regardless of the country and the associated owner.
What Kind of Currency is Litecoin?
It is a digital currency that can be traded on exchanges for real money currencies. The participants individually provide the computing power required in generating the coins and in return they receive Litecoin. Unlike other traditional currencies that are affected by global economic factors, it is a decentralized currency. It is not controlled or regulated by some bank or government. Thus it is unaffected by individual manipulation.
Furthermore, it can be transferred or traded anonymously anywhere in the world. It is not subjected to the same legal rules and regulations for real money betting.
There are both sides of the using it for online gambling which we will discuss in detail below. Also, we will introduce you to the best Litecoin betting sites.
Esports Betting Sites that Accept Litecoin
Bookmakers pay large fees of up to 4% on every transaction to the payment services or credit card companies. Providing Litecoin for online esports saves them such costs almost entirely. This is what makes it an attractive deal to the esports sites. Some betting sites that accept Litecoin are BetCoin, 1xBit Casino, mBit Casino, Betcoin.ag, etc.
How do I Pay for eSports Betting Using Digital Currencies?
First of all, it is easy. To start with, you simply need to register an account on a currency trading platform and create your Litecoin wallet. Using this digital wallet, you can trade real money for crypto-coins which will be stored in the same wallet. All esports sites have their own digital wallet address.
Switch to the upload or deposit funds page of your esports site and select Litecoin as the payment method. Enter the deposit amount, and on the next screen, the bookmaker’s Litecoin address will be shown. Now you can transfer the coins to this address and start placing bets on your favorite games in 30 minutes.
Finally, esports enthusiasts should be aware that using crypto-currencies for online betting is fairly a recent trend. There are many critics on the subject and the fact that crypto-currencies are subject to large price fluctuations. Nevertheless, Litecoin betting can be a game changer for you, as long as you keep your bets small.