Digital currencies are the new norm. The first digital currency was formed in 2009 which was termed as Bitcoin. Since then, hundreds of other currencies are launched such as Ethereum and Litecoin. These virtual currencies have entered different areas and are becoming increasingly popular.
Casinos is one of the areas where digital currencies are used widely. Online gambling was already popular which was further supplemented by the popularity of digital currencies. Here are some of the most popular crypto coins that are used by online gamblers as a means of transaction in online casinos.
Playing at a Bitcoin Online Casino offers players a chance to win big at casinos that respect players anonymity. Meaning they don’t care who you are, where you live and what you do for a living. This also means not having to fax or scan your life’s information in when requesting a cashout. Simply provide your Bitcoin wallet address and your payment is sent. Securely and discretely!
Bitcoin was created in 2009 and since then it has proved to be extremely influential in number of areas. It has changed the economics forever, and precisely the gambling industry. It is widely embraced all over the world and caters a number of online gamblers. Due to it increasing popularity, it is not going to disappear anytime soon. The large community tends to serve the customers in the most optimal manner. Bitcoin is highly popular in the gambling industry.
Ethereum entered the field of digital currencies relatively late, but has successfully made its place in the financial arena. It shares the identity with the Bitcoin to a large extent. When the system went live, over 11.9 million coins were already circulating. Due to its flexible structure, it has a large potential to play a major role in the field of gambling. Due to its sustainability, the gambling transactions remain valid for a larger period of time.
The development of Ripple can be traced back to 2004. This idea of decentralized currency had gained a lot of popularity after the inception of Ripple. When it comes to Ripple, it has a sound investment. The investors in this digital currency are one of the most established tycoons of this time. It is secure and anonymous which makes it ideal for all the gamblers out there. However, other digital currencies tend to be more established compared to this platform.
Litecoin is very similar to Bitcoin but there is a bit of modification. The mining is simpler with the digital currency which means they are not charged excessively. It is a perfect platform for gamblers which makes the transfer of funds from one account to another in the easiest way possible. In fact, the brains behind Litecoin are same as of Google. This suggests that it is something that is high in quality and will not disappear soon.
Dash is another crypto currency which is highly popular amongst gamblers. The transaction with Dash can be completed within few minutes which makes it ideal for gamblers since they require quick deposits. It is user-friendly currency which can be one of the most vital factors for gamblers. However, the block size for Dash is limited which imposes a restriction on its potential. In a nutshell, there are some drawbacks with this cryptocurrency but it tends to serve the gambler reasonably good.
Pros and Cons of the Best Crypto
- Bitcoin is the most generally accepted cryptocurrency in the world. Bitcoin specific gambling websites even exist to cater for Bitcoin users. You’re not short on choices.
- Due to its popularity, Bitcoin is unlikely to disappear any time presently. It also means that if you encounter any problems, its giant community of users will be ready to help you with your issues.
- Large Transaction Fees. Sadly, where there’s demand, there is money to be created. Block mining will take ten minutes, so miners can place the larger fees knowing that point is money. Do you want that each time you need to deposit funds?
- High Market Value. If to procure Bitcoin back in 2011 at $30 every then well done. Unfortunately, the present price is close to $4,000 each. So, unless you have already got Bitcoin in your possession it will be expensive to buy. That is one expensive gambling session.
- Thanks to its structure of ethers being needed to execute code on Ethereum, it means that the long term potential of the currency is way more sustainable than others on the market. So your Ethereum gambling transactions will remain valid for a really while.
- Close Links to Edgeless. The Edgeless gambling tokens are proving to be a revolutionary factor in online gambling by minimizing the house tackle on bets.
- Limited Value. The value of Ethereum is limited, because of the link between ether and Ethereum. There’s technically no limit to the ether offer which implies demand will always be satisfied and this might limit its maximum price.
- Sound Investment. Money follows money. The investors in Ripple like as Standard Chartered Bank and Google Ventures show there’s confidence in its design.
- Secure and Anonymous. Ripple is probably the closest to a bank establishment that you just can notice on the cryptocurrency market however it remains secure and anonymous, removed from the hands of the financial institutions.
- Ripple is truly centralized and private so it steers clear of the decentralized notion that created different altcoins so appealing. There’s a low risk that it could be exposed to manipulation. Do you want cheats to get their hands on your winnings? Thought not.
- The Ripple Network allegedly has a shelf life. This is reportedly hundreds of years however it has not been confirmed. In theory, it might potentially disappear at any day leaving gamblers short on funds in their own casino accounts.
- Bitcoin however better. This is essentially one of Bitcoin modification with smaller transaction fees. Mining is easier and this means miners don’t charge so excessively. Excellent for crypto gamblers that transfer funds between accounts frequently.
- Experience from Google . The brains behind Litecoin is that of a former Google staff members. This suggests that it’s something that will be around for an extended time.
- Bitcoin has learned from Litecoin. The introduction of Segregated Witness by each cryptocurrencies has seen the variations between them reduced. Litecoin has currently more or less become Bitcoin but less popular.
- Fast send. Transactions is completed in a matter of minutes. Ideal for gamblers that need a fast deposit.
- User friendly. Dash is aimed toward standart members of the public so the user friendly design has been at the forefront since its release. This can be very important for gamblers.
- Block size limitations. Sadly, the block size of Dash is limited to 1MB. This puts a cap on its availability and will limit its potential.