Are you a fan of online casinos? And also focused on using cryptocurrencies for finances and payments on these gaming sites? Well, there are several blockchain technologies that can be used for payments on online casinos; a typical example is a bitcoin casino or a cryptocurrency casino.
Not just that, there are over 30 cryptocurrencies that are now being readily accepted and aim to provide more flexibility to the users. If you want to understand online casino-accepted cryptocurrencies, you are at the right place. Read on to know more about this mode of payment.
Bitcoin
Bitcoin is amongst the most popular cryptocurrencies, and almost everyone knows about it! It is a highly popular crypto coin for online casinos and has various benefits. But why is it so advantageous, and why is everyone going gaga over this?
The answer lies in the value of Bitcoin, which has only been increasing. Many predictions had thought BTC would have burst at least twice now, but it is still growing. Thus, it is a popular form of cryptocurrency.
Other pros of BTC include liquidity, availability, and anonymity. So, the incorporation of bitcoin in online gaming sites also elevates the security performance of the bitcoin casino.
Ethereum
Ethereum is another of the top favourite cryptocurrencies because of its smart-contract network and high-end security measures. Several cryptocurrencies are openly accepting ETH or Ethereum for payments, primarily because of the flexibility it provides to various industries.
Many crypto casinos also love ETH for its extra focus on the user’s privacy, along with the fact that it is a highly trusted blockchain-based currency.
On the downside, the transaction of ETH is much like that of Bitcoin – which makes the speed a bit less than other options. Moreover, the fees for depositing along with the withdrawal ETH are not very consistent for each transaction.
Tether or USDT
Tether is a cryptocurrency that has been consistently equivalent to one dollar. This makes ut a much lesser volatile option. Another top benefit of Tether is that you can cash out each winning without stress for the cryptocurrency to drop in value.
However, one issue that may count for some people is that Tether requires proof of identity to purchase a crypto coin. So, this can be a problem in those places where online gambling is illegal or strict rules are imposed on this process.
Additionally, USDT is a stable cryptocurrency that provides users with quick transaction times.
Litecoin or LTC
Litecoin is more than often considered to be the Bitcoin kid, but with a higher maximum cap and the pricing being lower. This cryptocurrency wins over Bitcoin in the aspect of confirmation of transactions.
Through the LTC, you can perform transactions that are four times quicker than that of Bitcoin, a quality that most online gamers seek. This is the main reason why the crypto coin was made in the first place. LTC reduces the time that a user spends in the registration process, making it so convenient for them.
Wrapping Up
These are some of the cryptocurrencies that are loved by online gamers worldwide – you can also see other options like Monero and Bitcoin Cash to understand which blockchain-based payment methods work best for you. Overall, it is suggested that you perform research on all these currencies to get a fair idea of user experience and satisfaction!
