Most Common Coins Used to Play at Bitcoin Casinos
Over the past decade, we have seen a dramatic increase in the number of Bitcoin casinos. There are several advantages to using Bitcoin casinos in comparison to regular online casinos including security, anonymity, and speed of transactions. As more people have started using Bitcoin casinos, so we have seen the development of additional cryptocurrencies and these are now becoming available at Bitcoin casinos.
At this stage, it is worth pointing out that Bitcoin casinos themselves are based on a specific form of cryptocurrency, which is the Bitcoin. This is, without doubt, the most popular and well-known form of cryptocurrency available today. Bitcoin was released as an open-source code in 2009 and the result has been one of the biggest changes we have ever seen in terms of the online economy. In addition to being used at online casinos, Bitcoin can also be used to purchase goods and services.
For anyone who is planning on trying a cryptocurrency casino for the first time, Bitcoin is probably the best place to start thanks to the detailed ongoing support available online. There is a huge community of people willing to help should you run into any difficulties and there are plenty of online guides available to get you started with Bitcoin and cryptocurrency casinos.
Due to the ongoing success of Bitcoin, we have witnessed the introduction of several additional cryptocurrencies, including Ethereum. This was introduced to the market in 2015 and follows the same basic principles as Bitcoin, all be it with a few subtle differences. At the time of release, there were over 11 million coins circulating and Ethereum has developed to become one of the major players in terms of cryptocurrency casinos. One of the many leading factors why online gamblers are choosing to go with Ethereum is because of their links with Edgeless. This is a gambling token that helps to minimize the house edge and any advantage you can get to move the house edge in your favor should be taken.
Moving on and we come to another of the most common coins used to play at bitcoin casinos, Ripple. This has been in existence since the introduction of RipplePay.com in 2004 and although the original idea behind the payment method did not work out it has since developed to become one of the leading cryptocurrencies, especially for online gamblers. You only have to look at some of the companies that have backed Ripple, including Google Ventures and Standard Chartered Bank, to understand how big and popular it has become in recent years. If you have been searching for a cryptocurrency to play casino games that closely replicates traditional banking, look no further than Ripple.
Another of the most common cryptocurrencies used at online casinos is Litecoin. The makeup of this cryptocurrency closely resembles that of Bitcoin and the small transaction fees are one of the many draws for people using the digital currency. A former Google employee is behind the continued success of Litecoin and it is set to remain a popular payment method at cryptocurrency casinos for years to come.
Featured image: CoinInsider