Unless you’ve been living under a rock during the past decade, you know that cryptocurrencies are decentralized virtual money that you can use for virtually everything you’d use fiat currencies for. However, it caused a huge impact when it was first introduced into the market. Since then, several industries, such as e-commerce, FinTech, and online gaming, have integrated cryptocurrencies into their daily operations.
The huge boost of industries accepting cryptocurrencies happened in 2020 thanks to the COVID-19 pandemic, as it was the easiest way to transfer money from anywhere in the world without leaving your home. However, regarding the online gambling sector, cryptocurrencies have a special perk that no other currency has: anonymity. Crypto casinos now grow in popularity because they allow players to gamble without restrictions. This is especially valuable in the countries where casinos are prohibited or the industry itself is highly regulated.
Cryptocurrencies provide a high level of privacy and security when it comes to online gambling. Your personal information and money are protected with blockchain, which makes it a very safe way to gamble. However, not all casinos accept crypto as payment. And even those who accept, not often are blockchain-based.
If you’re interested in using cryptocurrencies for online gambling, you might be wondering which exact crypto to use. The most popular coins are BTC, ETH and USDT, so if you have some of this popular crypto, you can play now without restrictions.
If you were thinking about the most popular cryptocurrency of all time, you’re correct. Bitcoin is not only the first cryptocurrency that appeared in the market but is also the most popular in most industries, including online gambling. It outperforms all the other coins by a wide margin.
This coin was created by Satoshi Nakamoto back in January 2009 and has massively developed since then.
You may wonder what makes this coin so special when there are hundreds of other cryptocurrencies. Well, being the first one has a lot to do with it, but it also outperforms most of its competitors regarding scalability, and it opened the doors for the rest of cryptocurrencies.
However, Bitcoin’s path wasn’t easy, as the first people who used it were the so-called “early adaptors.” It was introduced in some cutting-edge casinos back in 2013. Still, it wasn’t until 2018-2020 that much more people started realizing its wide range of benefits, which allowed it to become the reputable currency it is today.
Today, if you search for crypto-based casinos, you will surely find Bitcoin as one of its main payment options. You may even find casinos that incentivize players who gamble with Bitcoin by offering bonuses and rewards at games such as Pinko, poker, and others.
The second most widely-used cryptocurrency is Ethereum, which can be compared to Bitcoin in popularity but has many more possibilities regarding the gaming and gambling world.
This coin was created by Vitalik Buterin back in 2013. He is a Canadian programmer and author that revolutionized the crypto community thanks to the groundbreaking features of his blockchain.
Moreover, this coin has gone through some updates. The most popular Ethereum 2 was executed in 2022 and enhanced the scalability, speed, and efficiency of the Ethereum blockchain, giving it the second-largest market value and attracting several crypto investors.
Another interesting fact about this currency is that it was nearly entirely crowdfunded. This is because when its founder and co-founders started developing the blockchain, they didn’t have enough resources to execute the project. Therefore, they turned to the crypto community for help instead of asking large enterprises for money.
Many people call Litecoin the “Usain Bolt” of cryptocurrencies because of the speed of this network. It is about four times faster than Bitcoin, which makes it an ideal option for crypto gamblers who need faster transactions because they don’t want to lose their a portion of their winnings because of the volatile nature of crypto assets.
If you want a short comparison, Bitcoin takes about 10 minutes to process a transaction, while Litecoin only takes around 2.5 minutes.
4- Bitcoin Cash
This cryptocurrency may sound confusing to some people because of its name, but Bitcoin Cash isn’t Bitcoin. In fact, it is a so-called “fork” of the original currency, created in 2017 by a team of developers and Bitcoin miners.
Casinos widely accept it because its main goal is to speed up transactions. The development team achieved this by increasing the block size, and although it was meant to be less valuable than BTC, many users prefer it over the original because of its speed and fewer costs.
Dogecoin may sound like an internet meme, especially because Elon Musk is a well-known prankster. Still, he turned this simple alt-coin into a widely accepted cryptocurrency, earning the name of “the Dogefather.”
Instead of sticking to his regular jokes and bits, he started tweeting about this alt-coin and how amusing it was, which caused Doge’s value to skyrocket.
Everything started in 2020 with only one tweet that said “Doge,” but little did we know that would significantly impact the currency, which increased by 20% in value. Then, in 2021, Musk kept tweeting about Dogecoin, calling it “the people’s currency,” which increased its value by 40%, turning this meme that people used as “tips” or “pennies” for their favorite streamers into a real and valuable cryptocurrency.
Bitcoin and online gambling seem perfect for each other, especially as new technologies appear and blockchain-based websites become much stronger.
This has turned online gambling into the huge industry it is today, and several statistics show that it will only keep growing. Therefore, compared to regular casinos, crypto casinos have much better benefits for players who want to have fun while earning money, such as security, bonuses, and fast transactions.
If you haven’t jumped on this trend and enjoy gambling and crypto assets, this is the perfect moment to do so!
Published by HOLR Magazine.