While bank transfers can take a while to be effective, crypto does not joke with speed. This is the major reason digital assets have gained so much popularity in the online gambling world. Coins like Bitcoin, Ethereum, Litecoin, and Ripple will have gamers wagering and pocketing their winnings with the speed of lightning. It also offers the benefit of anonymity which allows gamblers to bet incognito, and with this, those who love privacy are sure to favour cryptocurrencies for gambling. What about the lesser transaction fee benefit of crypto that allows gamers to save their hard-earned money rather than pay it as bank charges? All these and more are the reasons cryptocurrencies are gaining popularity in the gambling landscape. However, some are more popular than the rest.
Which Cryptocurrencies Are the Most Sought-After for Online Gambling?
Recent studies revealed that the current number of crypto coins in the market is over 10,500 and the stakeholders keep launching more as the days roll by. However, blockchain casinos cannot feature all of them but there are quite a good number of these coins that have gained notable popularity in the crypto gambling scene starting with Bitcoin or BTC.
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Bitcoin
Bitcoin is regarded as the king of all cryptocurrencies for many reasons. It was the first crypto to be mined by Satoshi Nakamoto in 2009 which marked the emergence of digital assets in the global economic landscape. Since then, investors who wish to explore the crypto market would always kick off with BTC not only because of its position as the first, but because it is the most famous, widely accepted, and most valuable.
The same goes with the gambling scene where Bitcoin tops the list of the most sought-after coins for wagering in online crypto casinos. Treated like the proverbial gold standard, BTC is accepted by all crypto casinos worth the name and it is counted among the most secure.
Ethereum (ETH)
Also known as ETH, Ethereum is the second most valuable and popular cryptocurrency, it can only be bested by the almighty BTC in market capitalization. This decentralized blockchain with highly smart contract functionality was conceived in 2013 as the brainchild of programmer, Vitalik Buterin with the help of other founders like Charles Hoskinson, Gavin Wood, Joseph Lubin, and Anthony Di Iorio. ETH’s proof of stake agreement/consensus mechanism and its unique smart contracts benefits endear it to many users over BTC, though its market value is far lower.
Another benefit of ETH is its speed, and security features. Thanks to its value and popularity in the crypto world, Ethereum is just as widely accepted as Bitcoin in the crypto gaming scene. Just like there are BTC casinos, ETH casinos also litter the gambling landscape and it is left for gamers to make their choices.
Litecoin (LTC)
Litecoin is known by different monikers like LTC or simply “L”. Inspired by BTC, the decentralized peer-to-peer crypto came into existence in October 2011 as one of the earliest altcoins. Technically, the LTC key chain shares a somewhat modified BTC codebase, and their practical effects include reduced fees, quicker mining difficulty retargeting, and faster transaction confirmations. LItecoin has many underlying similarities to BTC which earned it the moniker, silver to BTC's gold or alternative to BTC.
In the gambling scene, Litecoin sits at the top of the ladder with BTC and ETH as the three most popular coins for gambling. The coin’s allure is evident in its minimal transaction fees, fast transactions, and more. Many gamblers who cannot afford BTC because of its high value wouldn’t go wrong with LTC.
XRP Ripple
Birthed in 2012, Ripple, or XRP is described as a currency transfer network created for the benefit of the financial services sector. Far from being an ordinary currency exchange, Ripple is dubbed a real-time gross payment system, and a remittance network open to the global financial institutions. It is a product of the United States-based technology firm, Ripple Labs Inc. With the strong foundation of a distributed open-source procedure, XRP is in support of tokens representing cryptocurrency, fiat currency, commodities, and more.
Market capitalization ranks Ripple among its top 10 crypto and in the online casino scene, it attracts massive attention thanks to its low fees and speedy transaction features. Gamers who favor XRP casinos are sure of getting value for their money very fast without paying much charges. Relative to BTC and ETH, Ripple is cost effective and faster which earned it a place among the most popular cryptos for gambling.
Bitcoin Cash or BHC
Bitcoin Cash is one cryptocurrency that came into existence following a Bitcoin fork, thus, it is counted as one of the digital assets originating from the same market ladder. Because of its origin, Bitcoin Cash has many similarities with Bitcoin, though the market value is way lower. Despite its lower value, BHC is quite popular among online casinos thanks to the coin’s cost-effectiveness, efficient transaction features, larger block size, and more.
It is no longer in doubt that digital assets have become a game changer in the world of online gaming. Digital buddies like BTC, ETH, LTC, Ripple, and more are sure to shake up things for gamblers worldwide, and with blockchain technology as part of the mix, security is doubly assured.
