The Best Cryptocurrency to Use for Online Gambling
Over the years, technologies like virtual reality, augmented reality, and artificial intelligence have all made their way into online casinos. With the rise of cryptocurrency gambling, it looks like we haven’t seen the last of these new ideas.
Cryptocurrencies are a good alternative to credit cards, direct transfers, and e-wallets, as well as one of the most common ways to pay online. Using gaming crypto coins makes transactions faster, while low crypto trading fees encourage anonymity and make sure payments are safe. Since there are many coins on the market right now, this article will look at the best ones for online casino gambling. Read more about crypto at Vave casino blog.
The Best Crypto Coins for Gaming
Here are 5 best trending cryptocoins for gambling:
Bitcoin
When it comes to online cryptocurrency for gambling, Bitcoin is king. No one should be surprised, as Bitcoin is the most well-known cryptocurrency and accounts for the largest portion of the crypto market cap. Bitcoin is also the basis for all other cryptocurrencies, so its price is very tied up to the prices of all others.
The gambling industry was the first one to widely accept cryptocurrencies like Bitcoin. Most crypto-gaming casinos already accept Bitcoin for deposits and withdrawals, and more and more regular-payment casinos are starting to do the same. This shows that Bitcoin’s popularity will only get better.
A fair number of gambling sites only accept Bitcoin, and Bitcoin has led to the creation of other similar cryptocurrencies, like Bitcoin Cash.
Tether Coin
The second most popular cryptocurrency for gaming is Tether. Almost all cryptocurrency casinos accept USDT as a form of payment, except for the ones that only accept Bitcoin.
This is a result of the coin’s popularity and its blockchain design. As a stablecoin, Tether’s value is linked to the U.S. dollar and might be affected by dollar volatility. Still, thanks to the dollar Tether has been relatively stable for a long time, which makes it a more reliable choice for online gamers.
One main advantage of using USDT is that players can keep their money in their gaming wallet for a long time without worrying about a decline in the value of their earnings. This is because, at all times, the coin will be worth about $1. Additionally, the price consistency helps casinos better manage their business operations, making Tether a preferred currency among gamblers and gaming platform operators worldwide.
Finally, keep in mind that not all stablecoins are the same. While other stablecoins, such as Terra (LUNA), have seen dramatic drops in value, Tether has maintained its peg to the U.S. dollar. So, if gamers want long-term stability, they should stick with this tried-and-true currency.
Ethereum (ETH)
Ethereum has enjoyed widespread acceptability among crypto enthusiasts. This is because it is a mother of blockchain ecosystem that accommodates other crypto projects. Ethereum is often called the most promising cryptocurrency, which has helped it make its way into the world of casino gambling.
Being the second-largest cryptocurrency after Bitcoin, Ethereum is more stable than most other coins. This makes it a favorite among online gamblers.
It might also interest you that Ethereum has one of the fastest transaction times and the lowest transaction fee.
Litecoin
Litecoin is like Usain Bolt of crypto because it confirms transactions almost four times faster than Bitcoin and other crypto coins. This is likely one of the most important things gamblers look for at crypto casinos because no one likes delays in their deposits and withdrawals.
Transactions on Bitcoin can take up to 10 minutes to complete, but those on Litecoin only take 2.5 minutes. That is why it is one of the most popular cryptocurrency.
The coin was first created in October 2011. Its creator, Charlie Lee, went to MIT and has previously worked for Microsoft, Google, and Coinbase.
And one other thing that makes Litecoin so popular is that, like Bitcoin, it is a decentralized peer-to-peer cryptocurrency. However, Litecoin is a “Bitcoin fork,” which means that it was built using the Bitcoin source code but with small changes to make it work better.
Charlie Lee also says Litecoin is not a competitor but a compliment. He has called his idea “the silver to Bitcoin’s gold.” It is essentially an optimized derivation of Bitcoin.
Bitcoin Cash
You might be confused at first by the name “Bitcoin Cash,” which is the the next most popular cryptocurrency for casino. This confusion arises because of how close it is to bitcoin.
Like Litecoin, Bitcoin Cash was created by a group of developers and miners back in 2017 as a spin-off (fork) of Bitcoin.
The main goal of this altcoin was to speed up transactions by making the blocks bigger. When it was first released, the idea was that it wouldn’t be as valuable as Bitcoin. Still, now it’s one of the most popular currencies accepted at crypto casinos because it’s faster and cheaper than many of its competitors.
DogeCoin
Even though it was made out of an internet meme, the coin has recently become more popular. Because of its increasing popularity, online casinos started to accept it as a gambling payment method. More so, the constant currency promotion by billionaires like Elon Musk and Mark Cuban has helped the coin become popular among more gamblers.
Ripple (XRP)
Ripple is the last coin on our list. The main reason why Ripple is used is that it hit the casino gambling world ground-breakingly. Because of how well it has been received, almost all online casinos that accept cryptocurrency have started to accept it. Even though the buzz has died down in the past few years, most casinos still support Ripple.
Ripple also edges out other casino coins in its league because more casinos than the other coins support it.
Conclusion
Cryptocurrencies and online gambling go together like peanut butter and jelly, and as new technologies and ideas emerge, their relationship only appears to get stronger.
Cryptocurrency gambling is thought to be worth about $939 million, which means that it has grown by a huge 170% in the last year. This growth is not going to stop any time soon.
In the end, crypto casinos are light years ahead of regular online casinos and offer players so much more in terms of online gaming security, bonuses, payment options, transparency, and new ideas. And if you don’t give it a shot, you’re missing out!
