When it comes to funding your online casino account, there are a variety of transaction options to choose from. You can use credit cards, debit cards and e-wallets to make casino deposits and withdraw your potential casino winnings.
Along with the traditional transaction options, many casino online platforms now allow their players to use cryptocurrencies to make casino payments. This article lists the most popular cryptocurrencies to use on online gambling platforms.
Bitcoin is a digital cryptocurrency that was introduced by an anonymous developer named Satoshi Nakamoto in the late 2000s. Since its introduction, Bitcoin has garnered immense popularity and it’s the world’s largest digital currency by market capitalisation today.
Owing to its popularity, Bitcoin is accepted by almost all crypto online gambling platforms. As with all other cryptocurrencies, Bitcoin is based on blockchain technology, which records all the transactions on a decentralised public ledger.
Also, the anonymous nature of Bitcoin makes it an ideal transaction for players who don’t wish to share their bank details with the casino.
The next popular cryptocurrency that’s accepted by almost every online casino is Litecoin . While Litecoin is based on the same blockchain technology as Bitcoin, there are some key differences you need to be aware of.
First, Litecoin is a lighter version of Bitcoin that operates on a smaller scale than its counterpart. Also, Litecoin has a smaller rate than Bitcoin , making it a great choice for users who find Bitcoin values too high.
Furthermore, due to the differences in market value, Litecoin can accommodate a larger number of coins than Bitcoin . To put that into perspective, Litecoin has a total cap of 84 million coins, whereas the total cap for Bitcoin is just 21 million.
All in all, Litecoin are generated at a much faster rate but their market value is low when compared to Litecoin .
Ethereum is a well-renowned cryptocurrency that’s a great alternative to Bitcoin . This cryptocurrency is preferred by numerous online casinos as it can be used in app development. What this essentially means is that casino operators can develop and deploy Blockchain-based games that utilise Ethereum .
The major difference between Ethereum and Bitcoin is that Bitcoin was primarily developed as an alternative to traditional currencies. On the other hand, Ethereum was mainly intended to deploy smart contracts and develop decentralised applications.
So, if you’re someone who’s into smart contracts or decentralised apps, Ethereum might be the apt choice for you.
This is arguably one of the most “fluid” cryptocurrencies. This is because Tether makes it possible for users to make easy and seamless conversions. Also referred to as the USDT, the unique selling point of this cryptocurrency is that acquires the same value as the US Dollar in the blockchain world.
The flexibility, stability and reliability in terms of value make Tether a great choice for users in the crypto casino gaming world.
Disclaimer: The above references an opinion of the author and is for information purposes only. Never gamble for more than you can afford to lose. Gambling can lead to a serious addiction. Gamble responsibly.
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