Gambling in online casinos instead of in brick-and-mortar ones has become wildly popular over the last decade. While the online casino industry is constantly evolving, one of the biggest changes is the adoption of cryptocurrencies. Nowadays, you can make deposits and complete withdrawals using these digital currencies, and remain completely anonymous in this online community. If you aren’t that familiar with cryptocurrencies and you do not know which ones are accepted in online casinos, read on. Here’s a quick rundown of the top six cryptos used in such casinos.
Bitcoin
Without a doubt, Bitcoin is the most famous cryptocurrency in the world. Although Bitcoin users are not completely anonymous, they can identify themselves by different codes, thereby protecting their privacy. So, who can own a Bitcoin? Since it is not regulated by any central bank, it can be used and owned by anyone. The price of Bitcoin can vary not only on a monthly but on a daily basis. The problem with Bitcoin is that transactions involving this cryptocurrency are not regulated by a central bank. Therefore, they are not reversible and can be susceptible to scams. Even if no one is trying to scam you, making a mistake during a transaction can cost you. For instance, since these transactions are irreversible, nothing can be done if you accidentally type in the wrong amount or enter a wrong recipient. Nowadays, you can find numerous Bitcoin casinos online.
Ethereum
This cryptocurrency has been around since 2014 and is as almost known as Bitcoin. It is definitely one of the most liquid financial assets today thanks to the existence of various trading platforms and exchanges across the planet. Nowadays, you can easily convert your Ethereum into cash or even gold. However, Ethereum is not without flaws. It is susceptible to breakdowns and hacks due to its numerous functions. Furthermore, investing in this cryptocurrency can be rather risky, as its price has fluctuated a lot in the past.
Litecoin
A lot of casinos also accept Litecoin. This cryptocurrency has been created by the former Google employee Charlie Lee in 2011. In a lot of ways, it is very similar to Bitcoin. It is not mediated by any banking institution and is controlled by individuals based on supply and demand. Since it is traded more than 2 million times a day, it is safe to say that this cryptocurrency is very visible and liquid. Its creator wanted to make several improvements, which is why Litecoin has a couple of advantages over Bitcoin. For example, verifying a transaction involving Bitcoin takes less than nine minutes. When it comes to Litecoin, this takes less than 2.5 minutes. However, although Litecoin was designed to be an alternative to Bitcoin, people still use Ethereum more.
Dash
Since this currency is very easy to use, the popularity of Dash online casinos is on the rise. Dash is a completely independent currency, which means you can make transactions with minimal fees. This can come in handy when you are playing games in online casinos. Dash features an enhanced level of security, and ensures the protection of all funds and information. However, keep in mind that once your transaction is confirmed, it cannot be reversed. Therefore, be careful when entering amounts and recipients. The value of Dash is dictated by supply and demand, which means investing in it can be rather risky.
Tether
Tether is based on the Bitcoin blockchain, and one of its biggest pros is its transaction time. In other words, using Tether for payments takes only minutes, which makes this type of transaction very convenient. Because Tether tokens are attached to fiat currencies, they mostly maintain the same value.
Ripple
If you wish to use cryptocurrencies to make deposits and withdrawals in online casinos, Ripple could be a great option. This crypto has been developed in 2012 and has created a base of loyal followers since then. It provides a high level of safety and incredibly easy transactions, which makes it very popular among fans of casino games.
If you are looking for the best online casino for yourself, be sure to take deposit and withdrawal options into consideration. After all, crypto online casinos offer a bundle of perks you could surely benefit from.