Litecoin (LTC) is a popular cryptocurrency that appeared in 2011 and was developed by former Google employee Charlie Lee. Technically, the Litecoin system is implemented similarly to the Bitcoin system. Both the creation and the transfer of this cryptocurrency are based on an open-source encryption protocol.
The block time for Litecoin is only 2.5 minutes, which is very fast compared to other cryptocurrencies. A maximum of around 84 million Litecoin can be put into circulation. Currently, the market capitalization of Litecoin is around $8.83 billion (as of January 2022). One of the characteristics of Cryptocurrencies like Litecoin is volatility, i.e. high price jumps within a short period of time.
Example: In January 2020, one Litecoin temporarily cost just under 40 euros. In January 2021, the price initially rose to just under 150 euros, then fell again within a few days to just under 113 euros and reached an all-time high of 285 euros a few months later in May 2021. Currently, the price for one Litecoin is around 125 euros (as of January 2022).
So far, cryptocurrencies are only available in comparatively few online casinos as a means of payment. However, there are a few online casinos that offer Litecoin and Ethereum in particular as a Deposit and withdrawal method in addition to Bitcoin. However, cryptocurrencies are currently not yet allowed to be offered as a payment method in online casinos with a German license.