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LiteCoin Betting: Why Crypto Betting for Sports is so Popular?

With the rapid growth of popularity in regards to sports betting with cryptocurrency, such as Bitcoin, there have been other digital coins to hit the gambling market, like LiteCoin. While various digital coins have failed in this market, LiteCoin has been successful. However, its rise in popularity can’t be compared to that of Bitcoin at the moment.  

In 2017, LiteCoin took off in popularity and value to a point where many sports betting platforms started to accept it as a deposit and withdrawal option. LiteCoin has been around since 2011, but its true rise did not come until 2017 when its value reached approximately £/$55 per coin. 

While you can bet on live events with LiteCoin, you can also place wagers on eSports and virtual games. Even if Bitcoin is a top dog when it comes to gambling with cryptocurrencies, LiteCoin is also a perfect and solid option. So if you are looking to get started with LiteCoin betting, this article is for you. Continue reading to learn more about why LiteCoin betting is so popular, how to use LiteCoin, and the best sportsbook to play at.

What Are the Benefits of LiteCoin Sports Betting?

There are various advantages that LiteCoin betting platforms have over bookmakers that only support traditional currencies. Below are the major benefits:

Players Can Remain Anonymous

One of the advantages of using LiteCoin in sports betting is that you can remain anonymous. But this does not mean that your transactions can’t be traced. It means that you will not have to provide your sensitive information to the bookmaker. This provides you with increased peace of mind when gambling online since your information isn’t out there for third parties to access it.  

Deposit and Withdrawal Speed

The speed in which you can make deposits and withdrawals is another benefit that comes with LiteCoin betting. Along with very little fees, this’s a win-win for online sports bettors. Deposits to sportsbook accounts are instant, while withdrawals only take a few minutes to process.  

While traditional payment options could take hours and even days to process the funds, you only need minutes when using LiteCoin. Bank transfers and cheques can take anywhere between one and two weeks, but when transferring your funds through LiteCoin, the efficiency and processing speed simply dominate the older methods. 

Reduced Volatility 

Reduced volatility is a benefit that’s more specific to LiteCoin than other cryptocurrencies. The price of Bitcoin and other digital currencies has been volatile over the past couple of years, but apart from the massive rally in 2017, the value of LiteCoin has been a bit stable. If handling price volatility is something that you are not comfortable with, then joining a LiteCoin sports betting site can prove to be of great importance to you. 

If you’re able to win when betting with other crypto options, any slight drop in value can significantly reduce your profits. This is not a concern when you place bets with LiteCoin, and your profits are well-protected due to the stable price of the cryptocurrency itself.

Increased Chances of Boosting Your Bankroll

When you bet with LiteCoin, you will be able to increase your bankroll. This is because many sportsbooks will provide you with lots of bonuses to take advantage of. When you join a LiteCoin betting platform and make a deposit for the first time, you will receive a generous welcome bonus. And on top of that, you will find plenty of other promotions when you continue making deposits and placing bets. Some of the most common bonuses and promotions include free bets and VIP incentives. 

How to Use LiteCoin for Sports Betting 

Using LiteCoin for sports betting is easy and straightforward. Before you can make a deposit at your favourite bookmaker, you need to have a LiteCoin wallet. The wallet will help you to purchase, transfer, and store your digital coins. Similar to other cryptocurrencies, you can access your LiteCoin wallet through a range of devices, including desktops, smartphones, and tablets. 

Some of the highly-rated LTC wallets include Trezor, Ledger Nano S, and Exodus. Once you have a wallet and purchased some coins, you only need to make a deposit to start betting. Below are the steps that you need to make a successful LiteCoin deposit. 

  • Find a recommended LiteCoin sports betting platform
  • Open a new account
  • Navigate to the cashier section and choose LTC as your main deposit option 
  • Go back to your LiteCoin wallet and press the request/send button
  • Follow the onscreen instructions available to complete your transaction.

Once you confirm your transaction, the funds will be available in your sportsbook account within seconds. If you are looking to withdraw your winnings, the process is similar to the one above. So no need to worry about that.

Which Sports Betting Platforms Accept LiteCoin?

While cryptocurrencies are increasingly becoming popular with sportsbooks, just a few LiteCoin betting websites are available to select from. Many new bookmakers are being established regularly, and most of them accept LiteCoin as a deposit and withdrawal option. Aside from new sites, there are also some established online bookies that include cryptocurrencies such as LiteCoin into their lists of payment methods. 

Finding these sites is easy as there are many websites that provide a comprehensive list for LiteCoin users to pick from. Before you can pick a platform, you should check if it is ideal for you. The site you select must blend effortlessly with all of your unique needs and requirements. Some of the features that you should keep in mind when selecting a sportsbook include:

  • The welcome bonus available for new players 
  • Promotions and bonuses for existing bettors
  • Bonus terms and conditions as well as play-through requirements
  • Betting markets and leagues
  • Mobile compatibility 
  • Security and licenses

Ensure that all these things are available and meet your requirements. If all of them appeal to you, then you can create an account with that particular bookmaker.

Is LiteCoin Betting Legal?

Since there are many sportsbooks that support cryptocurrencies, it means that LiteCoin betting is legal. And this is one of the reasons why LiteCoin is popular in the gambling industry. Even if laws vary from one country to another, many gambling authorities from across the world allow players to bet with LiteCoin. A good rule to follow is that if a local bookmaker in your country supports different cryptocurrencies, then chances are LiteCoin betting is legal in your jurisdiction.

Final Thoughts

LiteCoin has been around for more than five years. And given the growth of the crypto market as a whole, sports bettors should only expect to see more and more LiteCoin sites being established. The best thing is that crypto sites allow players to enjoy a lot of benefits than bookmakers that support traditional payment methods. 

Players are not only sure to remain anonymous but can also enjoy lots of bonuses and promotions. Also, since all LiteCoin betting sites are modern, they allow players to place wagers from the comfort of their homes or even while travelling. 

This makes it possible to earn some money from sports any time you need and from any location. If you are a fan of sports as well as betting, then LiteCoin bookmakers should be your final gambling destinations.

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