Online casinos that offer players a way to play using cryptocurrencies are becoming popular, effectively redefining how online gambling works. Crypto casinos now offer bettors a quick, convenient, secure, and mostly anonymous way of playing casino games online.
One primary reason for its popularity is crypto's decentralized nature. No single entity or central bank tracks all transactions, making the players' transactions fast and transparent. Also, payments are often instant with minimal fees, usually to cover the verification on the blockchain. In short, crypto gambling offers an exciting alternative to casino players who prioritize security, privacy, and convenience. But before you jump into the first crypto casino you'll encounter online; we recommend knowing the different digital coins for online gambling.
We review the best cryptocurrencies you can use to deposit and withdraw your winnings on this page.
Bitcoin
When it comes to crypto gambling, Bitcoin is the most popular. As the first cryptocurrency, it's safe to say that BTC opened the casino-playing public into a different gambling environment. Bitcoin works using a decentralized ledger system called the blockchain.
Thanks to this technology, Bitcoin gambling offers fair, transparent, and primarily anonymous transactions. In addition, as the first digital currency, Bitcoin is in wide circulation and is highly valued despite its volatility in recent years.
Ethereum
As the second most used digital currency behind Bitcoin, players can easily find dozens of reputable Ethereum online casinos. It means that you'll never have a hard time finding the right casino where you can play your favorite online slots, poker, table games, or even live dealer titles.
Aside from its wide availability, Ethereum transactions are primarily anonymous and secure. In addition, fees are significantly lower than Bitcoin, and payments are much faster. In some crypto casinos, Ether payments are completed in minutes. And for players looking to get into the action instantly, Ether payments become more valuable.
Litecoin
Litecoin is created from a fork in the Bitcoin blockchain. This crypto was initially designed to address concerns that Bitcoin is becoming 'too centrally controlled' and make it more transparent and accessible to miners of all sizes.
Litecoin shares some similarities with BTC with a different algorithm. It's designed for daily transactions with lower fees and faster processing times.
Dash
Although not as popular as Bitcoin and Ethereum, Dash is still a widely used cryptocurrency in many online casinos. It was launched in 2014 as Xcoin and was rebranded as Dash in March 2015. Dash's main feature lies in its privacy and anonymity, as explained in the whitepaper written by Evan Duffield and Daniel Diaz.
While many online casinos lack integration of the Dash currency, it's only a matter of time before it becomes mainstream. After all, many casino players today focus on security and anonymity when playing casino games online.
Dogecoin
Remember the fun and exciting memes about Dogecoin?
This internet meme became famous in 2013, and it shows an image of Kabosu, a Shiba Inu dog, with a multicolored text in deliberate broken English. The meme was a hit and soon launched a new cryptocurrency called the Dogecoin.
Today, Dogecoin is now a 'serious crypto' that you can use in some online casinos. While it started as a joke, its blockchain has merits, too. Dogecoin uses a technology derived from Litecoin, and it uses a scrypt algorithm, comes at a low price with an unlimited supply.
This is just a shortlist of the top cryptocurrencies players can use to fund their accounts in selected online casinos. Unfortunately, there aren't many platforms supporting these cryptocurrencies, with Bitcoin as the most widely accepted currency. But given their growth potential, secure and transparent blockchain technology, and promised fast and mostly anonymous payouts, it's only a matter of time before crypto will become the choice payment of most casinos.
