Since gambling has been revolutionized into the online community, it has been from one level of advancement to another. However, fiat remains the most acceptable form of money, including being a legal tender, even on online casinos. Nonetheless, there are crypto gambling platforms where you can deposit crypto and withdraw your earnings alike. Before now, you might have come across online platforms where cryptocurrencies are the only acceptable means of deposits and withdrawals. However, some platforms run both means of payment.
Various cryptocurrencies could serve as means of payment, and it depends solely on the platform. You might have noticed that for every casino platform dealing in cryptocurrencies, you’d always see Bitcoin. This shows that the online casino community is also aware of the advancement in the crypto niche and understands how well to propagate this growth and how it could help them drive the market. Several gamblers want to engage in more gambling and have more extensive gambling time, but fiat deposit and withdrawal on online gambling platforms could be frustrating. Hence, the reason for the sampling of the cryptocurrency community.
Top cryptocurrencies accepted on online casinos
As mentioned earlier, the acceptance of cryptocurrencies on online casinos depends solely on the platform. However, this content is geared towards a more general consensus, more like the crypto dice. Here are some of the generally accepted cryptocurrencies
As mentioned earlier, it’s impossible to discuss online cryptocurrency casinos without mentioning Bitcoin. It’s not just the top cryptocurrency because of its market cap; its user adoption rate, which includes usage as a means of payment for gambling, is also negligible. So Bitcoin being a renowned cryptocurrency means any crypto gaming platform that accepts crypto will accept Bitcoin. In fact, some gamblers prefer to convert their crypto holdings to Bitcoin than to fiat because of its transaction time, as Bitcoin is much faster and efficient since it runs on blockchain technology.
Close to Bitcoin being a crypto gambling token is Ethereum. These two giant cryptocurrencies have been after each other almost since the development of Ethereum. However, they both have different objectives; the fact remains both can be used as means of payment on gambling platforms. Recall that Ethereum is such that it allows blockchain-based third-party apps to be built on, and the platforms also support crypto gambling. Ethereum is quantified in ether, and it remains one of the fastest means of depositing and withdrawing funds and winnings from any online casino platform. If you have Ethereum in your wallet, and you are a gambler, you should probably locate an online crypto gambling platform where you can gamble successfully. Depending on the platforms, you can play crypto dice games, board games, and other crypto-related available games to triple your stake.
● Bitcoin cash:
Don’t get it twisted; bitcoin cash is not the same as Bitcoin, and it doesn’t mean monetary Bitcoin (fiat Bitcoin). It’s also one of the top most used crypto on online casinos. The Bitcoin cash is a Bitcoin fork, which means the Bitcoin code was altered and sent in a different direction when compared to Bitcoin. Bitcoin cash became entirely in existence in 2017 when several disagreements erupted due to the lengthy period it takes transactions to get confirmed. These disagreements between the Bitcoin decision-makers birthed the Bitcoin cash, majorly as a result of the bulkiness of the Bitcoin blockchain. Bitcoin cash since its creation has followed the footsteps of Bitcoin; however, it’s pretty faster in transaction confirmation compared to bitcoin, hence the reason for it being used as a coin for gambling on online casinos.
The first three cryptocurrencies are in the top 30 cryptocurrencies. However, Monero isn’t. Monero is that cryptocurrency that came into existence in 2014. Its focus was majorly on privacy, decentralization, and fungibility. Being open-source crypto, one of the significant differences between Monero and other crypto is its level of security, and that makes it the perfect coin for gambling. Monero is such that it runs on a proof-of-work consensus, which has its security improved per each newly minted coin on the network. Although Monero being secured has its cons, it could also be used in underground casino houses and dark webs. Nonetheless, that does not underplay the central fact that Monero is a perfect fit for online gamblers, and it’s still relatively cheap to accumulate at the moment. So, the more games you win, the more Monero you accumulate and the higher your chances of winning more Monero.