Litecoin is a cryptocurrency that was created in 2011 as a fork of the Bitcoin protocol. Like Bitcoin, Litecoin is a decentralized, peer-to-peer digital currency that allows users to send and receive payments directly without the need for a bank or other financial institution.
Most of the NZ casinos accept Litecoin as one of the deposit options to play pokies and other casino games in real-time.
You might be interested to know about Bitcoin too: What is Bitcoin and How to Bet Online with Bitcoin
Table of Contents
Guide to Depositing and Withdrawing Litecoins
Is Litcoin Different from Bitcoin
Litecoin also has a higher maximum supply than Bitcoin, with a maximum of 84 million Litecoins that can be mined, compared to Bitcoin’s maximum of 21 million.
Litecoin is often seen as a “silver” to Bitcoin’s “gold,” and it is one of the top 10 cryptocurrencies by market capitalization. It is accepted by a growing number of merchants and can be bought and sold on cryptocurrency exchanges.
Litecoin differs from Bitcoins in aspects like faster block generation rate and use of scrypt as a proof of work scheme. Let’s find out how to deposit with Litecoin At NZ Casinos.
Is Litecoin better than Bitcoin?
- Litecoin processes a block in 2.5 minutes, compared to Bitcoin’s 10 minutes
- The Litecoin blockchain generates blocks more frequently and so can handle a higher volume of transactions
Do you need to buy Litecoins before you deposit at Casino?
You need to buy Litecoins to fund your online casino account. For that, you need to choose a Litecoin wallet that will hold your cryptocurrencies in NZ, such as Ledger, Exodus, Trezor, Blockchain, Cryptostore and others.
You can buy Litecoin via an exchange like Swyftx or Coinbase.com.
Buy Litecoins from:
- Independent Reserve
- Coin base
- E Toro
- Coinbase Pro
- And various others
You can use the Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they’re also private. That convenience and privacy, however, come with a price; most ATMs have fees of 5-10%.
Purchasing Litecoins from an exchange
Here are the steps on how to purchase Litecoins from an exchange:
- Choose an exchange. There are many different cryptocurrency exchanges available, so it is important to choose one that is reputable and has a good reputation. Some popular exchanges for Litecoin include Binance, Coinbase, and Kraken.
- Create an account. Once you have chosen an exchange, you need to create an account. This will involve providing some personal information, such as your name, email address, and date of birth.
- Verify your identity. In order to purchase Litecoin, you will need to verify your identity. This usually involves providing a government-issued ID and a selfie.
- Deposit funds. Once your account is verified, you need to deposit funds. You can do this by transferring fiat currency from your bank account or by buying cryptocurrency with another cryptocurrency.
- Buy Litecoin. Once you have deposited funds, you can buy Litecoin. Simply enter the amount of Litecoin you want to buy and click “buy.”
- Withdraw your Litecoin. Once you have purchased Litecoin, you can withdraw it to your wallet. Simply enter the address of your wallet and click “withdraw.”
Things to consider while purchasing Litecoins from an exchange:
- Do your research. There are many different cryptocurrency exchanges available, so it is important to do your research and choose one that is right for you.
- Start with a small amount. If you are new to cryptocurrency, it is a good idea to start with a small amount. This will help you learn how to use the exchange without risking a large amount of money.
- Be aware of fees. Exchanges charge fees for various services, such as depositing funds, buying cryptocurrency, and withdrawing cryptocurrency. It is important to be aware of these fees before you start trading.
- Use a secure wallet. Once you have purchased Litecoin, it is important to store it in a secure wallet. A hardware wallet is the most secure option, but there are also many good software wallets available.
- Be patient. The cryptocurrency market is volatile, so it is important to be patient when buying and selling Litecoin. Do not panic if the price goes down, and do not get greedy if the price goes up.
With Litecoin, you are using a cryptocurrency that operates via blockchain. Such payments provide a combination of privacy and transparency, along with security. Every transaction maintains player anonymity so that personal information is impossible to steal.
When your wallet is set up and ready to fund, buying LTC is quite simple. All you have to do is search for the currency within the wallet, which is set up almost like a stock exchange. LTC will appear, along with the current price of each coin. You should remember that Litecoin is traded on these exchanges, so the value of the coin is constantly changing. You can choose the amount of LTC you wish to purchase, and then with a couple of clicks, you will see the balance in your wallet.
You May Also Like: Ruby Fortune Casino NZ
Five online casinos accepting Litecoin
1. Bodog Casino
Bodog Casino is a popular online casino that accepts Litecoin deposits and withdrawals. They offer a wide range of games, including slots, table games, and live dealer games, and provide fast and secure transactions with no fees. New players can take advantage of a generous welcome bonus, including a 100% match bonus of up to $600 on their first deposit.
Ignition Casino is another top-rated online casino that accepts Litecoin deposits and withdrawals. They offer a wide range of games, including slots, table games, and video poker, and provide fast and secure transactions with no fees. New players can enjoy a welcome bonus of up to $3,000, with a 150% match bonus of up to $1,500 on their first deposit.
BitStarz Casino is a popular online casino that accepts Litecoin and several other cryptocurrencies. They offer over 3,000 games, including pokies, table games, and live dealer games, and provide fast and secure transactions with no fees.
New players can receive a welcome bonus of up to 5 BTC or 500 EUR, with 20 free spins upon registration and up to 180 free spins on their first deposit.
4. Joe Fortune
Joe Fortune is a well-known online casino that accepts Litecoin deposits and withdrawals. They offer a variety of games, including slots, table games, and live dealer games, and provide fast and secure transactions with no fees. New players can enjoy a welcome bonus of up to $7,500, with a 200% match bonus of up to $1,000 on their first deposit.
5. Fortune Jack
Fortune Jack is another top-rated online casino that accepts Litecoin and several other cryptocurrencies. They offer a wide range of games, including slots, table games, and live dealer games, and provide fast and secure transactions with no fees. New players can receive a welcome bonus of up to 6 BTC, with 25 free spins upon registration and up to 250 free spins on their first deposit.
Setting up a Litecoin wallet
Here are the steps on how to set up a Litecoin wallet without images:
- Choose a wallet type. There are three main types of Litecoin wallets: desktop wallets, mobile wallets, and web wallets. Desktop wallets are the most secure, but they can be more difficult to use. Mobile wallets are convenient and can be accessed from anywhere, but they are not as secure as desktop wallets. Web wallets are the most convenient, but they are also the least secure.
- Download and install the wallet software. Once you have chosen a wallet type, you need to download and install the software. For desktop wallets, you can download the software from the wallet provider’s website. For mobile wallets, you can download the app from the App Store or Google Play. For web wallets, you can access the website in your web browser.
- Create a wallet. Once the software is installed, you need to create a wallet. This will involve creating a username, password, and a 24-word recovery phrase. The recovery phrase is a very important part of your wallet, so make sure to write it down and store it in a safe place.
- Fund your wallet. Once you have created your wallet, you need to fund it with Litecoin. You can do this by buying Litecoin from an exchange or by transferring Litecoin from another wallet.
- Secure your wallet. Once your wallet is funded, it is important to secure it. This includes keeping your recovery phrase safe, using a strong password, and enabling 2FA.
Here are some additional tips for setting up a Litecoin wallet:
- Do your research. There are many different Litecoin wallets available, so it is important to do your research and choose a wallet that is right for you.
- Start with a small amount. If you are new to Litecoin, it is a good idea to start with a small amount. This will help you learn how to use the wallet without risking a large amount of money.
- Be patient. The first time you set up a Litecoin wallet, it may take a few minutes for the wallet to sync with the blockchain. This is normal.
- Get help if you need it. If you get stuck, there are many resources available to help you. You can search online for tutorials or contact the wallet provider for support.
How to make a deposit with Litecoin at Casino?
- You need any online casino that accepts Litecoins to make a deposit with Litecoin to play real money pokies.
- Once logged into your casino account, go to the banking section
- Select Litecoin as your payment method
- Specify the amount you want to deposit
- A unique wallet address will be generated
- Enter the address into your cryptocurrency wallet and confirm the transaction
- You should see the deposit in your casino account shortly
There are also online casinos that accept LTC and other cryptocurrency payments through e-wallets such as Skrill. To make payments this way, you will need to connect your cryptocurrency wallet with your e-wallet first.
Transaction Fees and Processing Times
The average transaction fee for Litecoin in New Zealand is around $0.03 or $0.04. This is significantly lower than the average transaction fee for Bitcoin, which is around $7.60. The processing time for Litecoin transactions in New Zealand is also much faster than Bitcoin, with Litecoin transactions typically being confirmed within 2.5 minutes.
Here are some more details about Litecoin transaction fees and processing times in New Zealand:
- Transaction fees: The average Litecoin transaction fee in New Zealand is around $0.03 or $0.04. This fee is paid to miners who verify and add transactions to the Litecoin blockchain. The fee is calculated based on the size of the transaction and the current network conditions.
- Processing times: Litecoin transactions typically take 2.5 minutes to be confirmed on the blockchain. This is much faster than Bitcoin, which can take up to 10 minutes for transactions to be confirmed.
Here are some factors that can affect Litecoin transaction fees and processing times in New Zealand:
- Network congestion: Network congestion is the amount of traffic on the Litecoin network. When the network is congested, transaction fees tend to be higher and processing times can be slower.
- Transaction size: The size of the transaction also affects the transaction fee. Larger transactions typically have higher fees.
- Transaction priority: Users can choose to pay a higher transaction fee to prioritize their transactions. This will ensure that their transaction is confirmed more quickly.
Overall, Litecoin is a very affordable and fast cryptocurrency to use in New Zealand. The average transaction fee is very low and transactions typically take only 2.5 minutes to be confirmed.
How to make a withdrawal at Casino with Litecoins?
- To make a withdrawal at casinos with Litecoins simply from the casino homepage, click on the Cashier section and select withdrawal.
- Click on Litecoin as your payout request method and add the amount you wish to withdraw in the Amount box on the top right.
- You need to fill in your Litecoin address and any other instructions to verify your payout request. Click confirm via a telephone call or confirm via email. Once you are ready, click submit.
- Click Submit to begin the confirmation and withdrawal process. Litecoin promises to put money into your wallet within a 48-hour time frame, but it will usually appear in your wallet within two hours.
You must submit the following documents before submitting a withdrawal request:
- Valid government-issued photo identification card;
- Copy of a recent utility bill no older than three (3) months prior to the submission date;
- Front copy of the Card(s) used to fund the Account.
Before approving any withdrawal request, the online casino may request additional documents to prove the ownership of the cards used on the account and to confirm that the purchases were authorized by the cardholder.
Troubleshooting Common Issues
Here are some tips on how to troubleshoot common issues about Litecoin:
- Addressing failed transactions or delays: If your Litecoin transaction has failed or is delayed, there are a few things you can check:
- Make sure that you have entered the correct recipient address.
- Check the network status to see if there is any congestion.
- Increase the transaction fee to prioritize your transaction.
- Contact your wallet provider for assistance.
- Contact customer support for assistance: If you are having trouble with your Litecoin wallet or exchange, you can contact customer support for assistance. Most Litecoin wallets and exchanges have a support team that is available to help with problems.
- Double-checking transaction details for accuracy: Before you send a Litecoin transaction, it is important to double-check the transaction details for accuracy. This includes checking the recipient address, the amount of Litecoin being sent, and the transaction fee. If you make a mistake in the transaction details, your transaction may be lost or delayed.
Here are some additional tips for troubleshooting Litecoin issues:
- Make sure you are using a reputable wallet or exchange: There are many Litecoin wallets and exchanges available, but not all of them are created equal. It is important to use a reputable wallet or exchange that has a good reputation and a history of providing good customer service.
- Keep your software up to date: Litecoin wallets and exchanges are constantly being updated with new features and security patches. It is important to keep your software up to date to ensure that you are using the latest and most secure version.
- Be patient: Litecoin transactions can take some time to be confirmed on the blockchain. If you are not seeing your transaction in the blockchain after a few minutes, do not panic. Just be patient and wait for the transaction to be confirmed.
What games you can play at casinos with Litecoins?
At online casinos, with Litecoins you can play different casinos as well as Litecoin games. Following are the most popular games that you can find at Casinos with Litecoins.
- Litecoins Blackjack: Blackjack, which is a game of collecting twenty-one points. Blackjack is a casino game between players and the dealer. To win, you have to get as close to 21 points as possible. If you reach a higher score than the dealer without going over 21, you are the winner.
- Litecoin Dice: Dice is a traditional game where you throw usually a six-sided die in the highest number possible or some special combination depending on the dice game. For example, craps are one popular dice game. In the cryptocurrency gaming world, some dice games have the goal of guessing if the number is over or under some chosen number. The payout is given based on the probability of the correct prediction.
- Litecoin Poker: Poker is a 5 card game that combines skill, strategy and gambling. Depending on the variant, poker games can include betting rounds. In video poker, you have the opportunity to discard one or more cards in exchange for new cards hoping to get a better hand.
- Litecoin Roulette: Roulette is a casino game where you spin the little wheel, as the game’s name in French goes. You can choose to place bets on single numbers, number combinations or for example red or black numbers. Depending on the wheel result, you can win up to 35 to 1 payout depending on the Roulette type. Practically all of the Bitcoin Cash gambling sites offer you many variations of this old classic game.
- Litecoin pokies: Pokies games in online casinos are based on old casino gaming machines which were also called one-armed bandits. They were run by one lever and you could win money if the reels hit the correct lines. Moreover, practically all of the Bitcoin Cash casinos offer also pokies games. These are the casinos we recommend for pokies games.
- Litecoin sports and esports Betting: There are a lot of different sports to choose from like Soccer, Basketball, Tennis, American Football, Baseball, Ice Hockey, MMA, Boxing, Volleyball, Handball, Cycling, Curling, Rugby Union, Rugby League, Cricket, Alpine Skiing, Biathlon and of course, Litecoin e-sports betting!
Advantages of using Litecoins
The following are the advantages of using Litecoins:
- Litecoin transactions are 4x faster than Bitcoin. It is the fastest payment method for online gambling.
- Litecoin’s all-time high value was $360.93, compared to over $18,000 for Bitcoin. Litecoin grew in value from $4.00 to $360.00 in only a year, and it stands to gain in value while you use it for online casino gaming.
- Like other cryptocurrencies, it isn’t tied to a central bank. Fluctuations downward are possible. Instead, Litecoin’s value is based on its current trading value on exchanges like Bitfinex, GDAX, OKEx, and Coinbase.
- Litecoin blockchain payments offer a combination of privacy, transparency, safety, and security. You can see every transaction but maintain your anonymity. Identity thieves can’t steal your information.
Disadvantages of using Litecoins
- Litecoin was designed with Bitcoin pitfalls in mind, Litecoin is considered safer than its more famous cousin.
- Also, the major drawback is that not all online casinos offer bitcoins payments as Bitcoin is the most preferred cryptocurrency at online casinos.
What is the difference between Litecoin and Bitcoin?
Litecoin has a range of small but significant technical differences. You might think of it as the quarter to Bitcoin’s dollar.
A supply limit of 84 million LTC vs 21 million BTC. The supply limit is the maximum number of coins that will be created. This finite limit is necessary for an altcoin to have value. The LTC supply limit is 84 million compared to Bitcoin’s 21 million, so it’s up to four times more common. In November 2017, there were about 54 million Litecoin tokens in circulation and about 30 million left to mine.
2.5-minute vs. 10-minute block generation time. Litecoin blocks are generated four times faster than Bitcoin blocks. The completion of each block confirms the transactions recorded in that block. Generally, this means Litecoin transfers can be done about four times faster than Bitcoin transfers.
In conclusion, Litecoin is a fast and secure cryptocurrency that has become popular in the online gambling industry, particularly in New Zealand. With faster block generation times and a higher maximum supply than Bitcoin, Litecoin offers advantages that make it an attractive option for players looking to make deposits and withdrawals at online casinos. By following the steps outlined in this guide, players can easily buy, deposit and withdraw Litecoins at online casinos. While there are still some limitations and drawbacks associated with using Litecoin, its benefits outweigh the disadvantages, making it a great option for online gambling transactions.
1. What are the benefits of using Litecoin at NZ casinos?
There are several benefits to using Litecoin at NZ casinos. First, Litecoin transactions are very fast and cheap. This means that you can deposit and withdraw your funds quickly and without having to pay high fees. Second, Litecoin is a very secure cryptocurrency. This means that your funds are safe when you use it at a casino. Third, Litecoin is becoming increasingly popular. This means that more and more casinos are accepting Litecoin as a payment method.
2. What are the risks of using Litecoin at NZ casinos?
There are a few risks associated with using Litecoin at NZ casinos. First, Litecoin is a volatile cryptocurrency. This means that the price of Litecoin can fluctuate wildly. This could impact the amount of money you win or lose at the casino. Second, Litecoin is a relatively new cryptocurrency. This means that there is still some risk associated with using it. For example, there is a risk that the casino could be hacked and your funds could be stolen.
3. What are the best NZ casinos that accept Litecoin?
There are a number of good NZ casinos that accept Litecoin. Here are a few of our favourites:
- Lucky Block: Lucky Block is a new casino that is quickly gaining popularity. It offers a wide variety of games, including slots, table games, and live dealer games. Lucky Block also has a very generous welcome bonus for new players.
- Mega Dice: Mega Dice is a casino that specializes in provably fair games. This means that you can be sure that the games are fair and that the casino is not cheating you. Mega Dice also has a very high payout rate, so you are more likely to win money when you play there.
- Metaspins: Metaspins is a casino that offers a wide variety of games, including slots, table games, and live dealer games. Metaspins also has a very generous welcome bonus for new players.
4. How do I deposit Litecoin at a NZ casino?
To deposit Litecoin at a NZ casino, you will need to create an account and verify your identity. Once your account is verified, you will be able to deposit Litecoin by entering your Litecoin address and the amount you want to deposit. The casino will then send the Litecoin to your address.
5. How do I withdraw Litecoin from a NZ casino?
To withdraw Litecoin from a NZ casino, you will need to create a withdrawal request. The casino will then send the Litecoin to your Litecoin address. The withdrawal process can take a few minutes to a few hours, depending on the casino.