When it comes to crypto gambling, Bitcoin and Ethereum are popular options. Well, this isn't surprising, knowing that both digital coins lead the market in terms of value and market capitalization. As of this writing, Ethereum's market cap is $127 bn and $388 bn for Bitcoin. In addition, most crypto casinos today accept Bitcoin and Ethereum as payment options, with many exciting campaigns focused on these two cryptocurrencies.
While these are the go-to digital currencies for online gambling, you'll also find other worthy cryptos or 'alt-coins.' One popular alt-coin that's growing in popularity is Cardano (ADA). It's a reputable cryptocurrency that works like an Ethereum with its fast, cheaper, and more scalable solution, making it a viable payment option in online casinos.
A Deeper Look at Cardano
When it was launched in 2017, Cardano hit the ground running and branded as the 'new Ethereum.' It was a nod to Cardano's promise of fast and cheap transactions and its use of a blockchain model similar to Ethereum, thanks to its tokens and smart contracts.
Unfortunately, a few months after its launch, the 2018 crypto crash wiped out nearly $13 billion from the market in hours. It was a challenging year for Cardano and other cryptocurrencies, but it was a litmus test. Cardano survived, and it's now one of the world's most stable and robust cryptocurrencies.
Cardano (ADA)- Pros and Cons
Cardano's blockchain relies on a proof-of-stake (POS) transaction confirmation system. Using this principle instead of the proof-of-work (POW), transactions are faster, and the system cuts the gas fees standard in Ethereum transactions. This process also removes the need for different machines since the nodes are less susceptible to interference.
Cardano uses the Ouroboros, a verifiable blockchain protocol, supporting sustainable transactions without compromising security. In a way, the protocol is better than Bitcoin's proof-of-work (POW) protocol since there's no mining, thus no huge power requirement.
For its financial smart contracts, Cardano uses a specific language called Marlowe. It also uses the Haskell language that's different from the one used by Ripple (XRP).
Of course, Cardano has a few drawbacks, including a lack of demand. In addition, Cardano's development team hasn't promoted many projects that will encourage users and investors to buy the coin based on its functionality. Its price (which is already volatile) is based on speculation.
Its 'lack of demand' spills over to applications that can potentially use the coin, including online gambling. Sure, Cardano isn't mainstream yet regarding online casino payments. But a few trusted crypto casinos, including Pasino.com, proudly accept Cardano as one of their payment options.
Deposit and Play Using Cardano and Enjoy Its Perks
Like other cryptocurrencies, using Cardano (ADA) for casino payments lets you enjoy safe, secure, and primarily anonymous payments. Deposits are almost instant, and withdrawals will only take a few minutes in most crypto casinos. But if you're a new player, your first payout may take longer than usual due to the casino's Know Your Customer (KYC) policy. But it's just a one-time process in most casinos, and it's always for the community's welfare.
Also, you can use your digital coins to play provably fair games in most crypto casinos. Provably fair games like Crash are like your standard casino games with a few extras: they're easy to play, transparent, and with verifiable results!
In addition, using Cardano gives you access to bespoke and more lucrative promotions. For example, by signing up and playing at Pasino.com, you'll get a chance to join a growing community of Cardano players and win $100 in Cardano (ADA) weekly!
Cryptocurrency use in online gambling is growing fast, helping the community in different ways. So top up your casino account today and play using Cardano and enjoy a gambling experience that's secure, primarily anonymous, and potentially lucrative. As always, don't forget to play responsibly and within limits!
