Litecoin Payment System for Casinos: Order the Solution
Modern operators are looking for new methods to simplify, speed up and optimise financial transactions, as well as to improve the quality of player service.
Each entrepreneur receives individual services, including legal and technical support.
Features of Payments Using LTC
The Litecoin system is a universal tool for transfers without being tied to a specific jurisdiction, issuing bank, IPS and other regulatory authorities.
Key features of Litecoin payments:
- The product includes a peer-to-peer (P2P) environment, ensuring the equality of all participants in transfers — operators and players.
- The integration of the program is based on a single-ranged data structure when the number of intermediaries involved in transfers is minimised. Ideally, this is a user and a casino provider, sometimes independent financial operators that store LTC wallets are also added to them.
- The Litecoin environment uses a limited number of tokens (crypto units) — 84 million. Subsequent emission of tokens is impossible, which protects digital money and company savings from sharp fluctuations in the exchange rate and devaluation.
- The key element of the system is the LTC wallet. Its address is formed on the basis of a public key with the scrypt hash function, consists of 33 elements and always begins with the English letters L and M or the number 3.
Working with the LTC gateway is in many ways similar to traditional payments. Operators can make transactions, exchange crypto money, check balances, set up automatic withdrawals, etc.
Connect Litecoin Payment System for Casinos: Advantages of Buying
The main benefits of the LTC system:
- Immediate transfers. Installing the Litecoin system accelerates payment processing by 4 times compared to operations in Bitcoin, and 20 times when compared with traditional fiat money transactions. The speed is 56 transfers per minute.
- Easy installation. The casino integration with such a system does not require a licence, registration with tax authorities, or opening a bank account. To accept Litecoins, operators need to get a crypto wallet and check if users have it as well.
- International deployment. Gambling projects are available to players worldwide. To make a deposit and start spinning the reels, punters need a stable Internet and Litecoins in their account.
- Complete anonymity. Connecting the payment system will surely attract a young and modern audience to the site. Users are captivated by the anonymity of transactions since the service does not request personal information, geolocation data, or cookies while keeping gamers incognito. To start playing, the gambler does not need to go through identification procedures using AML and KYC protocols.
- Intrasystem currency exchange. Services carry out conversion between three Blockchains — LTC, BTC and DCR — without the participation of the exchange and other intermediary organisations. This makes connecting the Litecoin payment system to a casino convenient and economically feasible. Any commissions within the service are excluded.
Reference Security of Litecoin Transfers
It is worth installing the Litecoin system for the sake of good security of monetary assets during their storage, processing and transfer.
The high reliability of the product is due to several factors:
| Cryptographic encryption | All transactions are protected thanks to hashing technology, that is, encryption of each element of the Blockchain. Unlike Bitcoin, where the SHA-256 crypto algorithm is used for hashes, the creators of LTC provided the structural elements with an additional scrypt function. This approach made connecting the Litecoin payment system at a casino simple and reliable. Operators often integrate the module as the main settlement service |
| PoW consensus mechanism | LTC transfers are based on the Proof-of-Work principle. Special independent nodes check all transfers, and the operation itself is presented in the form of several encrypted algorithms. The system checks users, and the results of operations are automatically displayed on the operators' servers. Only after this, the funds will be transferred to the LTC account, which eliminates fraud in the work |
| Prestigious licensing | Although the Litecoin Gateway is an independent payment environment, it is promoted and improved by Singapore-based Litecoin Foundation Joint Stock Company. The group was established in 2017. Its main mission is to optimise the project architecture through the implementation of external services such as SegWit (reducing the load on the Web), Lighting Network (transaction acceleration protocol), etc. The organisation provides guarantees for honest and safe LTC processing, which is highly appreciated by operators |
| Anonymous work | Installation of the platform does not involve the use of gamers' personal information. It also increases the safety: no confidential data — no opportunities for theft and unauthorised distribution |
| International neutrality | Litecoin does not have the characteristics of securities. Accordingly, the actions of the SEC (US Securities and Exchange Commission) and other international institutions do not apply to digital currency. Operators can use LTC not only for money transfers but also for investing and saving funds without fear that assets may be seized, confiscated or stolen |
The Main Things about the Litecoin System
We take care of the full technical and legal support of the project, including such nuances as registering an LTC wallet, training staff in the rules of working with currency, etc.
- The Litecoin platform is a derivative of the Bitcoin payment module, but with several advantages. First of all, this is an increased transaction speed, when the service processes 4 times more transactions per unit of time.
- The benefits of the gateway include full anonymity, access from anywhere in the world, and simple installation and configuration. The LTC service is the first crypto gateway that began to conduct exchanges with Bitcoin, Litecoin and other currencies without the involvement of external exchanges.
- The security of the project is achieved thanks to an improved encryption system (additional scrypt function), the principle of provable PoW, and worldwide neutrality.
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