Are you a fan of online casinos? And also focused on using cryptocurrencies for finances and payments on these gaming sites? Well, there are several Blockchain technologies that can be used for payments on some of the best online casinos; a typical example is a bitcoin casino or a cryptocurrency casino.
Not just that, there are over 30 cryptocurrencies that are now being readily accepted and aim to provide more flexibility to the users. If you want to understand online casino-accepted cryptocurrencies, you are at the right place. Read on to know more about this mode of payment.
Over the years, online casinos have vastly improved. As more sites accept the use of cryptocurrency, the number of crypto users rapidly increases. As a result, several online casinos have already added cryptocurrencies to their list of approved payment options.
Even though not all online casinos accept cryptocurrency as payment, there are several crypto casinos that have emerged online. Since crypto has been widely accepted as a payment option, it is unavoidable that most of them began by taking Bitcoin.
Aside from Bitcoin. which is known for its impressive value and usability, many people have also grown fond of the fact that there are other crypto coins being accepted in online casinos. Among these are famous influencers like Baruto who have a knack for playing online games.
While some people learn more about Baruto’s favorite crypto casino, many people become more curious about what other coins are accepted in online casinos. For those who have that in mind, here are some of them:
Bitcoin is amongst the most popular cryptocurrencies, and almost everyone knows about it! It is a highly popular crypto coin for online casinos and has various benefits. But why is it so advantageous, and why is everyone going gaga over this?
The answer lies in the value of Bitcoin, which has only been increasing. Many predictions had thought BTC would have burst at least twice now, but it is still growing. Thus, it is a popular form of cryptocurrency.
Other pros of BTC include liquidity, availability, and anonymity. So, the incorporation of bitcoin in online gaming sites also elevates the security performance of the bitcoin casino.
Ethereum is another of the top favorite cryptocurrencies because of its smart-contract network and high-end security measures. Several cryptocurrencies are openly accepting ETH or Ethereum for payments, primarily because of the flexibility it provides to various industries.
Many crypto casinos also love ETH for its extra focus on the user’s privacy, along with the fact that it is a highly trusted Blockchain-based currency.
On the downside, the transaction of ETH is much like that of Bitcoin – which makes the speed a bit less than other options. Moreover, the fees for depositing along with the withdrawal ETH are not very consistent for each transaction.
Tether or USDT
Tether is a cryptocurrency that has been consistently equivalent to one dollar. This makes us a much lesser volatile option. Another top benefit of Tether is that you can cash out each winning without stress for the cryptocurrency to drop in value.
However, one issue that may count for some people is that Tether requires proof of identity to purchase a crypto coin. Therefore, this can be a problem in those places where online gambling is illegal or strict rules are imposed on this process.
Additionally, USDT is a stable cryptocurrency that provides users with quick transaction times.
Litecoin or LTC
Litecoin is more than often considered to be the Bitcoin kid, but with a higher maximum cap and the pricing being lower. This cryptocurrency wins over Bitcoin in the aspect of confirmation of transactions.
Through the LTC, you can perform transactions that are four times quicker than that of Bitcoin, a quality that most online gamers seek. This is the main reason why the crypto coin was made in the first place. LTC reduces the time that a user spends in the registration process, making it so convenient for them.
Cardano was founded in 2015 by Colorado-based mathematician Charles Hoskinson. The proof-of-stake mechanism is used by this altcoin, adding an extra degree of protection and safety.
The blockchain’s native token, ADA, is used to process value exchange just like many other crypto tokens. It allows users to send and receive money with low transaction fees, as well as build smart contracts. With its potential, some have called this popular altcoin the ‘Ethereum killer’, because many believe it is capable of more.
TRON is a decentralized platform that was first introduced in 2017. Its purpose, like that of other coins on the market, is to establish itself as a peer-to-peer technology network that enables transactions.
People have also been drawn to Tronix (TRX), the native token, because it can be traded with other popular coins such as ETH and BTC. Despite being newer than the others, TRON and TRX are among the top 15 most valuable cryptocurrencies in terms of market value.
Its Blockchain also functions as a sophisticated social media platform, allowing users to produce and share whatever content they like.
These are just some remarkable crypto assets that players can use on many favorite crypto casino and other sites. By learning the special characteristics each of these coins have, people can be more eager to invest in them and see which ones work best for them. More importantly, they may also be curious about the feeling of using these to bet!
This cryptocurrency is developed in 2012, according to Coinspeaker, and it’s not dependent on the proof-of-work employed by Bitcoin or on the energy supply. The network of independently validating servers provides gamblers with data protection and integrity.
Both banks and transaction participants can own these servers. Ripple promises a clean and fun gaming experience with its meager resource consumption and high safety insurance.
This is an open-source and peer-to-peer cryptocurrency. Litecoin is a completely decentralized and autonomous currency, being based on an open-source cryptographic protocol.
Experts compare it to Bitcoin, with the differences that it uses a more complicated type of algorithm and its better speed, the block reading speed being 2.5 minutes, according to Coin Telegraph. A lot of gambling sites use this currency thanks to its incredible speed when it comes to transactions.
Dogecoin is one of the most user-friendly currencies since it’s super easy to make transfers. Even though it was created as a joke, it soon became one of the most popular cryptocurrencies in the online gambling world, says CryptoNewsZ.
The block reading speed is only one minute, so the transaction times with Dogecoin are even faster than Litecoin. That’s why it’s the preferred currency for many online casinos.
According to DEX, Dash is a cryptocurrency developed in 2014, utilizing masternodes to power the network. That’s why it has a decentralized network which provides fast transactions.
One of the best things about this currency is that it’s very private – even more than Bitcoin. You can use this cryptocurrency to gamble illegally with a low risk of being caught. A disadvantage of Dash is that it’s not widely accepted as other currencies for illegal gambling.
Some of the advantages of Monero are decentralization, fungibility, and privacy. That’s why it has been one of the most widely used currencies for online gambling. It’s depended on the proof-of-work just like Bitcoin, but it’s far more private, suggests Exodus.
In fact, the transactions it allows are almost impossible to trace thanks to its technology. That’s the reason why Monero is one of the most widely used currencies for anonymous gambling, especially in countries where internet betting is illegal.
Wrapping UpThese are some of the cryptocurrencies that are loved by online gamers worldwide – you can also see other options like Monero and Bitcoin Cash to understand which Blockchain-based payment methods work best for you. Overall, it is suggested that you perform research on all these currencies to get a fair idea of user experience and satisfaction!