10 Cryptocurrencies Used in Gambling
Cryptocurrencies are regarded as one of the most significant technological innovations in recent years. They are widely used nowadays in many spheres – and their popularity is rising with each day. Besides being a perfect way to invest money, digital currency is also a great innovation for gamblers.
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Turns out that gambling and cryptocurrencies are a perfect match. Blockchain and other similar technologies, used for powering cryptos, offer anonymous cryptocurrency transactions. This feature solves a lot of legal issues for gaming enthusiasts. As a result, the opportunity to use crypto for gambling is beneficial both for gamblers themselves and owners of such businesses. Let’s learn which cryptocurrencies are currently used for gambling.
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Bitcoin
Bitcoin is undoubtedly the most widely known crypto. It has been a revolution recently, and its exchange rate is growing rapidly. Powered by blockchain, BTC is much more convenient to use when gaming than ordinary currencies, and it also has its advantages over other cryptos. Real money cryptocurrency transactions via blockchain take much less time than usual ones. Withdrawing your prizes in dollars, you will have to wait for several banking days while using BTC it will take no more than an hour or two.
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Plus, Bitcoin seems to be the most convenient crypto for gambling because of its popularity. Crypto gambling is a relatively new option so that there are not so many websites to choose from. As bitcoin is the most popular crypto, finding a crypto casino you like, you can be sure that you can pay with BTC there. Choosing less popular crypto means you’ll have to struggle with research as less online casinos accept “small” crypto coins.
Ethereum
Powered by blockchain, just like Bitcoin, Ethereum is another favorite crypto of gamblers. As it is quite widespread, you will face no problems with finding the casino you like or a game you prefer: almost all online crypto casinos accept ETH these days. Moreover, it has several serious advantages: this crypto is regarded as the most secure one, and it is also faster than BTC. It takes only 12 seconds for Ethereum block to be mined comparing with 10 minutes for Bitcoin. Thus, it is a great currency for those who don’t like to wait: any cryptocurrency transaction will take only several minutes.
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Ripple
Ripple seems to one of the most specific cryptocurrencies in the world. Unlike all other cryptos, it cannot be mined: one hundred billion XRP coins were developed, and the company does not plan to release more. It is also centralized, but it is not a disadvantage.
Using XRP for gambling opens new opportunities for those who are brave enough to try it: the price for the transaction is very low despite the cryptocurrency transaction volume. Moreover, depositing and withdrawing would be really fast, much faster than blockchain-powered cryptos, as there is no need to create blocks.
Dash
Just like many other cryptos, Dash is a decentralized coin. It uses “Darksend” technology to make cryptocurrency transactions anonymous. This feature makes the coin a perfect choice for gamblers: besides offering total anonymity, this digital currency can also be transferred in seconds. Plus, it uses several cryptographic algorithms, while other financial systems usually have only one of them. Another benefit of Dash is that each owner of the crypto takes part in choosing how to develop the system – this feature is known as decentralized governance. All these options make Dash a quite popular choice for those who like to gamble – and we are sure that this choice will never disappoint you.
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TRON
TRON is one of the most promising cryptocurrencies in the world. Introduced in 2017, it has already proven itself to be a project with a great capitalization. What does it mean? Actually, this means that the crypto will rise noticeably in the nearest future, so choosing it for gambling can be a wonderful opportunity to multiply your assets.
Monero
This crypto is another great decision for everyone interested in online gaming. Monero is regarded as one of the most secure cryptos, promising anonymity and the ability to track cryptocurrency transactions. Monero has no emission limits, unlike Bitcoin. It also uses a different technology, called Crypto Note. This option makes Monero a safe place for investment. Nowadays, many enthusiasts prefer this coin, so there are quite a lot of online casinos where you can play with Monero.
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Zcash
This crypto was launched only in 2016, but it has already managed to become one of the most perspective projects. Zcash offers a unique feature: while real money cryptocurrency transactions are visible to all the users and are available in the blocks, the amount of the transaction and the information about its receiver and sender remain private. Thus, you can still track the cryptocurrency transaction without violating privacy. This makes Zcash a coin with one of the strongest security measures. And this is definitely a plus if you want to try gambling.
Litecoin
Litecoin is a fork of Bitcoin, which means that it was developed on the basis of the famous crypto, but separated from it because of certain reasons. Litecoin offers many privileges, but the most significant one is the price of cryptocurrency transactions: it is minimal. This is a great feature for those who like to deposit and withdraw fewer sums but make it regularly. Moreover, it also provides its users with an opportunity to verify cryptocurrency transactions much quicker than if using other payment systems. Comfy!
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Dogecoin
The first thing you need to know about Dogecoin is that its name comes from a famous meme. Secondly – it is a fork of Litecoin. Nowadays, not so many cryptocurrency enthusiasts take this coin seriously, but it is still a wonderful decision if you want to gamble a little. Dogecoin can be mined rapidly. Plus, it’s developers claim that investing in the crypto, you will also get a bonus – a community of smart and witty meme enthusiasts. By the way, why shall we always consider crypto as a serious thing? Dogecoin proves that it can be fun, so it is definitely worth trying when gambling.
Stellar
Last but not least, Stellar is a fork of Ripple which offers internet transactions in real-time. Nowadays, it uses its own protocol, which helps the system to overcome the issues common for Ripple. The crypto company is clear – they publish reports regularly, so if this aspect is important for you, you can always check the activity of the company. Stellar is not very popular among the gamblers; however, it’s popularity is rising, so we recommend to pay attention to this platform.