An increasing number of online casino players are turning to cryptocurrencies, such as Bitcoin and others, for online betting and gaming. It’s safe, fast, and sometimes there’s also the possibility of online casino bonuses where you can play and bet in cryptocurrency.
In this article, we take a look at some of the major cryptocurrencies that can be played online.
Finding the Best Place to Play Online
In 2020, a growing number of online casinos began offering digital currency to their users. If players haven’t made the jump yet and know almost nothing about crypto credit options, they may need a little help to get started. One of the best ways to do this is to play with a leading casino that offers a variety of crypto-currencies. In addition to this, it is useful to play at a casino that also accepts FIAT currencies, such as the US dollar, euro, and Japanese yen.
By choosing to play in a casino that offers both, players can gradually switch from FIAT to crypto-currencies over time. This allows them to feel more comfortable making the change.
This Domain Can Offer a Variety of FIAT and Crypto-Currency Options. But Which One Should a Player Choose?
Bitcoin Leads the Way
The most famous crypto-currency accepted in casinos such as Bitcoin Casino is Bitcoin. It is the first crypto-currency to make its debut, and many of its rivals use a similar format. Bitcoin is arguably the simplest digital currency that players can use, as there is a wealth of information about it that they can take advantage of. Bitcoin is the most widely offered encryption currency in online casinos, although it has equivalents that may be better suited to a player’s needs.
Litecoin Is Faster and Cheaper
A crypto-money that is like Bitcoin in many ways, Litecoin is also faster and cheaper to use. Created by former Google employee Charlie Lee, Litecoin creates new blocks every two and a half minutes, unlike Bitcoin’s ten-minute block creation rate. Litecoin can process a larger number of transactions faster (due to its faster block creation time), and transactions are processed at only 1/1,000 of Litecoin.
Dogecoin Offers Security
Dogecoin started in 2013. Unlike Bitcoin, Litecoin, and others, there is no limit to the number of Dogecoins that can exist. This means that the value of Dogecoins remains relatively low but stable, especially compared to the rapid rise (and sudden fall) in the value of Bitcoins over the last two years. Dogecoin is super safe (probably more so than other options) and is ideally used for small transactions. If players prefer to bet with small amounts, Dogecoin is a suitable crypto-money.
Bitcoin Cash – The Bitcoin Fork
Originally created as a Bitcoin fork, Bitcoin Cash made its debut in 2017, and was developed as a way to increase the block size, allowing faster transactions. It may be an offshoot of Bitcoin, but the basic principles (except for blocks of 32 MB instead of 8 MB) are intrinsically the same, including the number of coins capped at 21 million. There are still one or two small startup problems with the larger block size, and a few other problems that need to be solved, but Bitcoin Cash is still open.
Ethereum: Bitcoin’s Great Rival
Ethereum is probably Bitcoin’s biggest rival. Ethereum has a larger supply of coins than Bitcoin and probably better technology. It can be used for more applications than its famous rival. While Bitcoin is only a crypto-money, Ethereum is a ledger technology, which can be used to create new software, programs, and applications. Ethereum is also one of the fastest-growing cryptocurrencies, which might be something players might want to keep an eye on.
The Link Is Fixed to the Fiat Currencies
Tether is very different from other crypto-money. It is pegged to the traditional FIAT currencies, such as the American dollar, the Japanese yen, or the euro. Tether is built on the chain of Bitcoin blocks. As its name suggests, this crypto-currency is attached to something, and it can be the US dollar (it often is, because the US dollar is one of the most stable currencies in the world), or even precious metals and other crypto-currencies. Anchoring is a bit expensive, but it is potentially more stable than some competing digital currencies and easier to acquire.
Featured image: kriptocoin.com