Ranking of the Best eSports Bookmakers with Litecoin
Welcome to the exciting world of eSports betting, where strategy meets opportunity. In Rwanda, this dynamic landscape is evolving, especially with the rise of Litecoin as a preferred currency for transactions. Based on my observations, betting on eSports not only enhances the viewing experience but also offers unique advantages when using cryptocurrencies like Litecoin. Here, I’ll provide you with insights into the top betting platforms, tips for maximizing your wagers, and the latest trends in this thrilling market. Join me as we explore how to navigate eSports betting effectively and responsibly, ensuring a rewarding experience.
Top-Rated eSports Bookmakers with Litecoin
About Litecoin
As of January 2022, Litecoin is the world's 21st largest digital currency by market capitalization, priced at $148.57. It has become a staple for many crypto enthusiasts because of its growing popularity. Litecoin is an altcoin (alternative crypto) launched on 13th October 2011 by Charlie Lee, who worked at Google as an engineer.
It is a derivative of the Bitcoin codebase but has been modified severally. Like any other virtual coin, LTC uses a decentralized payment network that is neither controlled by an individual nor a government authority. In contrast to Bitcoin, which is based on SHA-256, Litecoin uses Scrypt as a proof-of-work algorithm and has a quicker block generation rate.
Litecoin boasts MIT License, a free software license by the Massachusetts Institute of Technology. It can be used anywhere globally, allowing peer-to-peer transactions among individuals, traders, and investors. Today, numerous bookmakers are accepting this payment option for esports. Due to its larger blocks, Litecoin transactions are faster and cheaper.
When used as a deposit method in an esports betting site, LTC can take roughly 3 minutes to process, while Bitcoin takes about 6 minutes. The Bitcoin network is busier, and some transactions may take a whole hour to go through. On the other hand, LTC fees are one-tenth of Bitcoin's, making it the better option for speed and budget-conscious sports bettors.
Using Litecoin in Online Bookmakers
Your deposit should come from an LTC wallet, though you cannot connect it directly to a bank account. However, you can fund the wallet from another crypto wallet or exchange platform using a credit card. To start betting on Litecoin esports, find a bookmaker that supports this digital coin. If you doubt, count on our top 10 bookmakers with Litecoin that have been verified for transparency, fairness, and security by experts.
How to Make a Direct Deposit with Litecoin
After finding a good Litecoin esports betting site, funding your account should be easy. Follow the steps outlined below.
- Log in to the eSports betting account
- Choose an eSport game you want to bet in and click play
- You will be directed to a deposit page
- Select Cryptocurrency and then Litecoin as your deposit method
- On a pop-up page, log in to your Litecoin wallet
- Enter the amount to transfer to the bookmaker as your bankroll
- In your LTC wallet, click the send button
- Complete the verification on-screen to finalize the transaction
Litecoin transfers are instant, and you will be directed to a confirmation page. You will get a receipt of payment at your email address. The money will be available in your esports account, so you can start betting straight away. Make sure you know the bookmaker's minimum allowed deposit amount before making a deposit. With Litecoin, there is no set daily deposit limit. Therefore, you can deposit any amount as often as you like.
How to Make a Withdrawal with Litecoin
Since you already used the Litecoin payment option for esports, you can quickly cash out your winnings to your LTC wallet. This is something you can do on your smartphone because top Litecoin bookmakers are mobile-friendly. Be sure to input the correct destination or address since any transfer you make is irreversible. Take the following steps to move winnings from your eSports account with this payment method.
- At the bookmaker site, click the payouts section
- Choose Litecoin as your payment method
- Go to your LTC wallet and copy the address or scan the QR code with your smartphone
- Paste the address at the bookmaker's withdrawal section
- Specify the amount to withdrawal, bearing in mind the bookmaker's minimum and maximum threshold
- See if all details are correct before hitting the submit/request button
- An on-screen confirmation message will pop-up
As soon as the esports provider confirms your request, you will receive funds in your LTC wallet. You can use it for online payments or convert it to fiat money through exchanges that support such conversions. Again, Litecoin does not impose transaction limits, but you must comply with the bookmaker's limits. Litecoin withdrawals shouldn't take longer than two hours.
Pros and Cons with Litecoin
Historically, people have trusted the government to issue currencies, but Litecoin was created through mining. The number of LTC coins in circulation is fixed. Miners use computing power to add transactions to the blockchain. As a blockchain-based virtual currency, Litecoin has the following benefits and drawbacks.
Pros
- It offers some of the fastest digital transactions
- Low fees
- Keeps eSports betting private and anonymous
- Top-notch online security
- Bypasses geo-restrictions
Cons
- Litecoin price regularly plummets when the crypto industry suffers setbacks
- It is not easy to come by a trustworthy Litecoin bookmaker
Litecoin Account Opening Process
Technically, there are no age restrictions for acquiring Litecoin. However, established crypto exchanges like Coinbase only allow users 18 years or older to mine and trade LTC. Other means of purchasing LTC tokens do not require users to be over 18. Moreover, you don't need a bank account to use Litecoin. As mentioned earlier, Litecoin is available through crypto trading platforms and exchanges like Binance and CoinbasePro. Traders usually exchange both traditional currencies and other cryptocurrencies for Litecoin. Once you acquire LTC, you can store it in your LTC wallet or a multi-coin wallet.
How to Set up LTC Wallet
When choosing a wallet to store Litecoins, consider safety and convenience. When registering with a digital wallet provider, you will be required to provide:
- Government-issued ID/driving license/passport
- Email address
- Phone number
- Date of birth
- Current address
- Selfie photo
You can set it up in this simple process.
1. Download the wallet app from Google Play or AppStore
2. Register with your mobile number, email address, or Facebook account
3. Provide personal details to verify your identity
4. Set a PIN code and strong password
You can also open the wallet on the desktop. Signing up for a Litecoin wallet is free. Once set up, you can hold, buy, sell or use the coins for esports betting with ease. Beware of crypto scams that encourage Litecoin users to invest in certain firms only for such schemes to close down abruptly. The scammers usually vanish after defrauding unsuspecting users.
Litecoin Customer Support Options
You can contact a Litecoin exchange platform in several ways:
- Email
- Online contact form
- Live agents
- Social media support
For a quick response, submit requests through the email address you used to sign up at the exchange platform. Typically, you will need to choose a category of question. Be as detailed as possible.
