Betting sites and online casinos have been accepting Bitcoin (BTC) as a mode of payment for over a decade. They were able to see the potential that cryptocurrency has and now it’s being realized by gamblers worldwide. Thus, also expanding the reach and giving more power to cryptocurrencies in general.
Casino Crypto
One of the reasons why cryptocurrencies became even more popular is online gambling, which in turn, gave more people an opportunity to get into online gambling, hence why the industry also gained the same. Online casinos didn’t only use cryptocurrencies as a way of funding players’ bankrolls, but they were also able to use blockchain technology to improve the fairness of online casino games. The impact that cryptocurrency has definitely changed online gambling for the better.
Just make sure you know which cryptocurrencies and crypto exchange is right for you before you start spending at online casinos. Using a guide like Coinformant will help you to choose the right cryptocurrency and exchange for better rates and increased security.
For those who are already familiar with the whole concept of cryptocurrency and BTC, then you all can easily use them to gamble online. But for those of you who haven’t meddled with BTC gambling yet, here are seven other cryptocurrencies that you can use for online gambling and casino gaming.
7 Top Casino Cryptocurrencies Besides Bitcoin
1. Ethereum
Ethereum (ETH) follows BTC as the second most popular cryptocurrency. It includes a token called ether which acts as a currency. Most of the top casino sites such as https://www.pnxbet.com/ accept ETH as payment along with BTC.
ETH’s main function is to serve as a platform for decentralized apps or “Dapps.” Currently, it also acts as an open-source blockchain featuring smart contract functionality, which allows two or more parties to create a contract enforced by the blockchain.
2. Litecoin
Litecoin (LTC) is another peer-to-peer cryptocurrency that operates similarly as BTC. In fact, LTC is so identical to BTC that you wouldn’t notice their difference when using LTC for paying online casinos. Those differences include a larger number for maximum coins and a decreased duration of block generation.
You can mine and keep up to 65 million LTC’s and on average, it only takes 2.5 minutes for it to generate blocks.
3. Monero
Monero (XMR) is a completely untraceable cryptocurrency that was created in 2014. It allows users to make transactions online while remaining completely anonymous.
XMR uses an obfuscated public ledger to allow people to make standard cryptocurrency transactions without being seen by observers from the outside looking in. Nothing will be seen from payments made using XMR, no sender, no recipient, and no amount. This is perfect for gamblers who don’t want anybody to know their gambling transactions.
4. Bitcoin Cash
Bitcoin Cash (BCH), is also identical to BTC in plenty of ways. Just like BTC, it functions as a decentralized currency. The difference between the two is in the number of transactions that they can process. BCH stores information in 32MB blocks, which leads to more transactions per second. However, this makes it difficult to mine due to the larger block size, but it’s well worth your while if your goal is to get as many transactions processed as possible.
5. Ripple
Ripple (XRP) features a variety of functions for a cryptocurrency. It acts as a currency, a real-time gross settlement system, and a remittance network. XRP is an open-source protocol that supports tokens that represent various types of value.
Ripple’s payment network is called RippleNet and the cryptocurrency is named Ripple XRP. Many new investors underestimate the cost and expenses of trading XRP and other cryptocurrencies, so make sure you weigh your options before choosing a ripple trading platform.
The tokens correspond to fiat, cryptocurrency, commodities, and frequent-flier miles. Apart from those, it’s also a seamless way to make deposits and cashouts in betting sites and online casinos.
6. Dogecoin
Dogecoin (DOGE) was named after the Shiba Inu dog meme. But it would eventually become one of the consistent ranking cryptocurrencies among the top 30 in the world.
Dogecoin is a user-friendly cryptocurrency that you can use for leaving tips online. Also, most casinos that take BTC accept Dogecoin as well.
The quest to get Dogecoin to the 1 cent or $1 value is one promoted by countless investors, including the world's current richest man Elon Musk on occasion!
7. Dash
Dash features quicker transactions and a governance model that’s faster than BTC. It also offers privacy on a greater degree when it comes to transactions. Dash is also another peer-to-peer cryptocurrency that forked off of BTC and was initially launched as XCoin in 2014.
Crypto Conclusion
Cryptocurrencies let players deposit without the worry of their banks rejecting an online gambling transaction. Partner that with the degree of anonymity that crypto gives them and it’s already a great payment alternative for online casinos. Cryptocurrencies are going to be part of the future of online gambling, so you might want to consider using them soon.
