Types of Cryptocurrencies for Online Gambling
With the evolving technologies and payment systems, cryptocurrencies have been around for more than 10 years now. The market of cryptocurrencies is one of the main driving forces behind the success of blockchain networks. There are many Cryptocurrencies for Gambling.
These crypto wallets revolutionize the industry world of payment software. As these currencies hide users’ full anonymity with minimal restrictions, it becomes a great attraction for players of casinos.
Cryptocurrencies for Online Gambling
Due to its benefits, the Cryptocurrencies for Gambling industry has been using it for a decade now. Bitcoin has dominated other currencies and has become one of the most widely-used and accepted currencies in online casinos. Gamblers deposits over USD 4 billion collectively at casinos since 2014.
With the growing market of cryptocurrencies, more providers have come up to offer better and tested solutions to the players to manage their funds.
Here are the top 6 popular cryptocurrencies widely used for gambling:
1. Litecoin
Litecoin
This currency is used by most online casinos. It is one of the most popular cryptocurrencies alongside Bitcoin. You will find Litecoin casinos also specifically designed for users of these payment methods. In these casinos, you can find and paly Litecoin-based casino games such as blackjack, roulette and slots, and Litecoin bonuses with free spins and other benefits. You can also use LTC e-wallets and Exchanges with sportsbooks. It helps you to place wagers on American football, tennis, soccer, basketball, MMA, boxing, and other sports.
2. Ethereum
Ethereum
This casinos have also gained popularity in the last few years. Such casinos offer classic card games like blackjack, many varieties of video poker, and roulette including dice-based games like craps. You can also play and choose from hundreds of online slots at most Ethereum casinos. Players can use this currency the same way as the traditional conditions of casino bonuses. You need to sign up to a casino and deposit using 1 ETH, the casino will match your deposit with an extra 1 ETH as a welcome gift. Make sure the percentage of the bonus you’re planning to use to guarantee you’re getting the best value.
3. Dash
Dash
Such types of casinos are not as popular as Bitcoin or other crypto wallets. Still, Dash casinos are visited by the number of people using this currency and the gamble is on the rise. Dash is the short form of “Digital Cash”. It was introduced as XCoin in 2014, then rechristened to Darkcoin before finally settling on its current title. Many casinos start to promote Dash as their method of payment for online, because of the low fees and 4-second transaction times. Players will get the same games as the other providers, with bonuses of up to 70 DASH offered on the first deposit.
4. HEROcoin
HEROcoin
It is also termed as HERO, is also a form of Ethereum cryptocurrency mostly used for Esports purchases, and virtual tournament buy-ins for video games like Counterstrike and DOTA 2. One of the primary features of this platform is that by reserving a HEROcoin, you can continue to earn additional coins without any buy-in to an events pool. It is because the HEROcoin contract officially declares that every prize pool should distribute a minimum of 1% across every active user account. This means, the more coins you hold, the larger percentage cut of the prize pool you get entitled to.
5. Wagerr Coin
Wagerr Coin
It is a standalone and decentralized blockchain solution targeting the sports betting market. This allows you to place wagers through a private, transparent, and unrestricted system. Wagerr coin eliminates the problems and risks associated with bookmakers. It is one of the newest providers on the market, first emerging in 2018. On the very first weekend of its grand release, the application gets over 400,000 in sports bets, proving its worth as a Bitcoin adversary from the very beginning.
6. Ripple
Ripple
It is also another centralized, secure payment method known for its speedy transaction times and low fees. Although not that common a currency that you can find in every casino. The casinos that accept these payments offer a selection of dice games, slots, keno, poker, baccarat, and roulette. You can also use XRP on virtual horse races and other forms of sports. On some casinos, you can claim up to 99% of your winnings, which means that the house edge is only 1% for the majority of games available.
7. Monster Byte Coin
Monster Byte Coin
This coin has a wide presence in the crypto gaming industry for around 5 years now. This company functions many online sportsbooks and gambling sites which include Bit777.com, Peerbet.org, and BitcoinRush.io. All these platforms offer amazing odds alongside an exclusive daily cashback system that you will not find with any other Bitcoin casinos or bookmakers. The casino offers a 1% house edge on nearly 50 games and the potential to exchange various cryptocurrencies through your Mac, PC, mobile device, or tablet.
Bitcoin Vs other Cryptocurrencies
Cryptosystems gradually become the future norm and a go-to choice over many traditional payment services. Although Bitcoin has always been the main headlines, thereum is certainly the second-largest cryptocurrency across the world.
The low transaction fees and fast network times keeps it ahead of other currencies. The application also seeks domain registration, market forecasting, voting, crowdfunding, and an array of other uses that others in the blockchain simply can’t compete with.
Moreover, Ethereum has reconciled memory hard mining algorithms and the management of stale block. It is something that neither Bitcoin nor Litecoin has ever been able to fix in their features. The only drawback of this platform is the 20% inflation rate, which comes due to the no capping on the number of coins users can hold. This app also takes up 1GB of memory every month.
Synopsis
In a nutshell, any of the above providers provide a range of great investment opportunities for online players and people looking to use Cryptocurrencies for Gambling and in other activities.