Untill today, Win a Day casino is the first LITECOIN CASINO we met. Soon, more online casinos will follow, no doubt about that. For this article we had to study because we did not have much knowledge about Litecoin. Players are increasingly turning to digital currencies to fund their casino accounts. Now WinaDay casino has launched Litecoin as another viable option in addition to Bitcoin. Litecoin works just like Bitcoin BUT is even faster with a vastly reduced fee. So, here we go… What is Litecoin?
Winaday casino with Litecoin
Originating in 2011, Litecoin is a reliable cryptocurrency for those players who want security with minimal transactional delay. Just like Bitcoin, it can be used online to trade in exactly the same way you use your dollars. Litecoin has been designed as a faster and more scalable altcoin. Thousands of transactions can be completed in seconds globally. You can both deposit and withdraw in Litecoin at Winaday, enjoying almost instant deposits and next working-day withdrawals. About the abbreviations common used worldwide: bitcoin btc, and litecoin ltc. What are the benefits of using Litecoin? Faster than Bitcoin Just as easy Just as secure
Set up your Litecoin wallet
A wallet is the most important tool for securing and protecting your bitcoins, Litecoins and other digital currencies. Like Bitcoins, Litecoins can be stored in a digital wallet. This wallet will track the total value of your Litecoins and allow you to conduct transactions. Wallets allow you to track your history of exchanges and monitor your transactions. This only takes a few minutes, and you can start sending and receiving litecoins as soon as your wallet is created. There are many wallet options, i.e. Electrum and Jaxx popular for easily storing multiple cryptocurrencies.
There are 2 kind of wallets: Web-wallets, with which you store your
Litecoins on someone else’s server (on the internet); Desktop/mobile/offline wallets, with which you store your Litecoins on your own device, e.g. your laptop. Each type of wallet has it’s pros and cons. Web wallets are risker since someone can hack the companies’ servers and steal your coins. On the other hand you can use them from anywhere in the world! Offline wallets are considered safer since someone will need physical access to your computer to steal them. Minus point is that you will be able to send Litecoins only from that specific device.
Litecoin wallet and costs
Some wallets are completely free, while others charge fees for transactions. Make sure you read all the information when choosing a wallet. Especially pay close attention to any fees, as they can add up very quickly. There are several wallets currently available, but, unlike Bitcoin, there aren’t many options for Litecoin wallets. Names of Litecoin wallets Litecoin-QT is a popular desktop wallet for Litecoin which we also use. It is free to use and very convenient to work with. Jaxx is a cross platform Bitcoin and altcoin wallet. Jaxx works on desktop and mobile and is also very easy to use.
Exodus is a beautifully designed wallet for assets; allows you to hold Bitcoin, Litecoin, Ethereum and other cryprtos. Liteaddress.org is a simple service that will generate a Litecoin key and address for you. You can then print the key and address and safely store Litecoins offline. Due all of the thefts that have occurred with Bitcoins and online wallets, many people now prefer to store coins offline. This service is definitely worth a look if you are looking for a way to easily store coins offline. Why make use of a hardware wallet
Hardware wallets are the most convenient and secure option for newcomers cryptocoiners. A Litecoin Core wallet on your personal machine is a fairly secure option, and certainly less risky than leaving your coins on an exchange. The nice and safe thing about a hardware wallet is that it keeps the private key totally inaccessible to any malware, hackers or intruders with access to your computer. A good example is the Ledger Nano S, as this supports both Litecoin, Ripple plus about 11 others cryptocoins. So, hardware wallets protect you from the most common threats: physical theft, malware, key and screen loggers and so on.