Litecoin Online Sportsbook | How to Fund Your Betting Account Using Litecoin – Tips by Tim Harrison


Payment processes are one of the most important features at sports betting sites, which is why these bookies consider it.

Most bettors can send money to and from reliable betting sites using E-wallets, internet banking, credit cards, e-vouchers, and wire transfers.

One popular payment method that betting sites have adopted recently is cryptocurrency. Not all bookmakers allow this payment option, but we can still point out a few that would enable Bitcoin, Litecoin, Ethereum, and other cryptocurrencies.

Tim Harrison, a betting expert at BetZillion, spoke with about Litecoin and how to make transactions on Litecoin sports betting sites.

What Is Litecoin?

The cryptocurrency known as Litecoin was created in 2011 by Charlie Lee, a former Google employee, two years after Bitcoin came. Its features are comparable to those of Bitcoin but with a different algorithm.

Litecoin is an open-source global peer-to-peer cryptocurrency network that allows users to send payments easily and quickly across the globe. The speed, scalability, and centralization problems that the Bitcoin network was plagued by led to the creation of the Litecoin network.

With rapid transaction confirmations, Litecoin is considered the perfect digital asset payment option for consumers and businesses. Like Bitcoin, it secures the network via a proof-of-work (PoW) consensus. 

Nevertheless, compared to Bitcoin, its network uses a different hashing method. While Bitcoin employs SHA-256, Litecoin uses Scrypt.

How does Litecoin Work?

Litecoin and Bitcoin have a lot in common. Both initiatives are open-source projects using proof-of-work (PoW) to validate transactions.

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Yet Litecoin stands itself from Bitcoin in a few key ways. Asides from processing speed, supply is a concern. Litecoin’s supply is limited to 84 million coins, compared to Bitcoin’s 21 million-coin limit

To be granted permission to add new transactions to the blockchain, Litecoin miners must solve a hash-based calculation. The miner receives 12.5 LTC as compensation for being the first miner to successfully solve the hash associated with a transaction using the proof of work consensus technique. After a block is closed, the blockchain cannot be completed.

You won’t generally find Litecoin mining activities on a PC in a person’s living room. Hashing demands tremendous computer power, which uses a lot of space and energy. Mining farms and pools of cryptocurrency miners employing high-tech machinery are responsible for the lion’s share of Litecoin mining. Like Bitcoin, Litecoin halves to help regulate its supply.


The total number of Litecoins in circulation is 84 million. But miners are compensated with newly created LTC when they add a new block to the Litecoin blockchain. If there were no halving, this might indefinitely raise the quantity of Litecoin.

The miner reward for adding new gloves to the Litecoin blockchain is periodically reduced by halving. That occurs every 840,000 transactions in the case of Litecoin.

As a result, 50 LTC was the miner reward when Litecoin started adding a new block to the blockchain. Its bonus has been reduced over the past few years by halves to 12.5 LTC as a block reward.

How to Buy Litecoin

To buy Litecoin, the process is straightforward. You can do this using the step-by-step guide below 

  • Find and select a cryptocurrency exchange: You can buy Litecoin using specific wallets like an app or at a crypto exchange.
  • Buy Litecoin: After choosing an app or cryptocurrency exchange for purchasing Litecoin, the next step is to buy. You’ll have to fund your payment app, whether a Litecoin-specific app or any crypto exchange that trades Litecoin. Purchasing Litecoin on these platforms is easy. You only need to go through a few steps and indicate the amount you intend to buy. In a few steps, your purchase is complete.
  • Store Litecoin: Lastly, store your Litecoin. Some cryptocurrency exchanges have an inbuilt wallet to store your crypto, while others prefer a separate digit wallet.
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How to Fund Betting Accounts using Litecoin

Players must own an LTC wallet before depositing it on the Litecoin sportsbook. Just like you would store your money in your physical leather wallets, a digital wallet is equivalent.

Several reliable LTC wallets are available; the best-rated ones include Exodus, Coinomi, Guarda, Ledger Nano S, and Trezor. Some of these Litecoin wallets are available as actual hardware. Others can be used on a desktop computer or a smartphone.

After choosing a Litecoin betting website, depositing funds is easy. Below is a step-by-step guide to follow 

  1. Go to your betting website and log in with your account details. Ensure you sign up for an account if you are yet to do so.
  2. Then in the deposit section, choose Litecoin as your preferred payment method.
  3. It will lead you to your LTC wallet. Enter the amount of Litecoin you want to deposit and click on the ‘Send/Request’ page.
  4. Next, follow the instructions on the page to finish your transaction.
  5. Transfer of funds is usually immediate. So once you’ve seen the confirmation on your screen, your deposit amount would have been available in your betting account.

The procedure is similar to a deposit if you intend to remove funds from your betting account to your LTC wallet. All you have to do is to go to the withdrawal section and enter your LTC wallet address.

Benefits of Using Litecoin for Online Betting 

Several benefits come with using Litecoin for online betting. Let’s briefly highlight a few:

  • Players can stay anonymous, which is a huge advantage. Although transactions can be tracked, anonymity means you won’t have to give your personal information to the bookmaker.
  • Another benefit of utilizing Litecoin for online betting is the quick payouts of winnings and the low or no transaction charges.
  • New Litecoins are constantly available and are a stable currency compared to other cryptocurrencies.
  • You can use Litecoin to deposit and withdraw your funds.
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Disadvantages of Using Litecoin for Online Betting 

There are benefits to using Litecoin to fund betting accounts, but there are also a few downsides. They are;

  • Price Volatility: The value of Litecoin is always changing.
  • No protection from the government if you lose your wallet.


For online bettors looking for the best deposit and withdrawal options, Litecoin sports betting sites are a fantastic choice. Litecoin betting sites are growing in popularity, with cryptocurrency bettors drawn to them by numerous factors, including low fees, quick transactions, and the ability to remain anonymous. In this guide, we have explained how this cryptocurrency works and how bettors can fund their accounts using Litecoin. Join a Litecoin bookmaker today to experience a different side to betting.


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