Top 15 Cryptocurrencies Used in Gambling

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The cryptocurrency industry has already been taking over the traditional currency market and gradually squeezing out fiat money. After the introduction of the first Bitcoin in 2009, every hour that passes sees more people becoming fans of decentralized currency. The tremendous hype around digital money lies in their broad and innovative functionality: such as decentralized control, the highly secure blockchain technology, and a myriad perks you get in general for using this digital currency. The world tends to keep pace with the latest groundbreaking innovations and technologies, developed by a diverse range of thinkers; and the emergence of cryptocurrency can reasonably be considered as a full-blown revolution in the financial realm.

And of course, just like every other sphere dealing with money, gambling (or more precisely, online gambling), just can’t afford to ignore digital money. It’s already been quite a while since players switched to betting with decentralized currency for their virtual accounts; instead of fiat money, like they used to. So a strong connection, or rather cooperation, has been established between the crypto industry and online gambling; this alliance is known as “crypto gaming.” There is already a diverse range of crypto options that gamblers prefer to make their bets with at online casinos. Because of this, we took a course on listing the top 15 cryptocurrencies most often used by the more financially literate players.

Bitcoin

Despite losing to other cryptocurrencies in terms of user-friendliness and some other essential features, BTC remains by far the most popular (and most commonly applied) option in crypto gaming and beyond. Gambling with Bitcoin has a large number of advantages over gambling with traditional money; these include speed, simplicity, and no-fee transaction processing. For example, one of the many substantial perks of Bitcoin gambling is that the payout period takes only a few minutes; rather than a few days, as with the fiat money system. However, Bitcoin can’t always be used for gambling, as this very much depends on whether or not online gambling has been legalized in the country in question. Still: as for the Bitcoin to USD rate, the price for 1 BTC is 6,258.37 US dollars.

Ethereum

This altcoin is generated by the Ethereum platform. It is blockchain-based and open-source, and it uses smart contracts as well. The latter feature is what makes it even cooler and indeed even more convenient than BTC; at least according to the majority of experts. Applying smart contracts to blockchain technology rids the participants from third-party involvement, thereby greatly facilitating the transaction process in Ethereum gambling. This is immensely beneficial for Ethereum online casino players, who can seamlessly conduct their payments and then receive their payouts afterwards.

Ripple

Ripple was founded on a shared public database and is managed by a network of independently validating servers; so it is not dependent either on the energy supply nor the proof-of-work employed by Bitcoin. The validating server network provides players with integrity and data protection. These servers can be owned by both transaction participants and banks alike. So, with its high safety insurance and relatively meager resource consumption, this altcoin is sure to make your gaming experience even more clean and fun. And given the current price of Ripple is just $0.493925, it hardly takes any financial effort to play at an online casino using this cryptocurrency.

Dash

On what is Dash gambling based? A form of DAO (Decentralized Autonomous Organization), Dash is an altcoin that branched out from the Bitcoin protocol. The most important, and indeed the most remarkable feature of Dash, is the speed for the transactions; because this allows players to conduct fast transactions that are impossible to track down.

NEM

This Java-developed cryptocurrency represents the introduction of some pretty novel technology in the area of proof-of-importance or POI. NEM offers players a fairly decent range of features such as the Eigentrust++ reputation system, encrypted messaging and peer-to-peer technology. In NEM, there can be several ledgers on one blockchain. The Smart Assets comprising NEM let users create their own symbols that can stand for any asset.

Stratis

STRAT uses the Ethereum-based blockchain. It was developed by the crypto Stratis platform, whose products are mainly designed for corporate use. This cryptocurrency helps the users to create individual chains, which vary in accordance with the player’s needs. All in all, Stratis casinos are expected to gain popularity soon

NEO

Operating on the multifunctional NEO platform, which links the physical asset with an equivalent avatar, NEO enables its users to buy and sell different kinds of assets, as well as protecting them (in accordance with U.S. legislation). Such cryptocurrency features are crucial in gambling, where players may face high risks, as well as unpredictable payout outcomes.

Novacoin

The Novacoin cryptocurrency is useful for gambling, as it provides total transaction anonymity, and this really is a must for making secure gambling payments. It also features a hybrid protection model, which protects players from possible hacker attacks or other suspicious activities that might happen when they’re either making a payment or getting a payout.

EOS

Complying with nearly all the gamblers’ commercial scale requirements and inquiries, EOS has become one of the leading digital currencies most frequently used by the more cautious players out there. EOS operates on a Smart contract platform, which reduces both the transaction fee and the transaction time. According to the source we consulted, the EOS price today is $5.09.

Stellar

The top highlight of this cryptocurrency is its consensus protocol. This makes it an open-source system. The Stellar Consensus Protocol sets limits on the transaction authentification process, confining it to a certain number of trusted nodes, instead of making it visible to the whole node network. And this is the very reason why a great number of players prefer to use Stellar when gambling.

TRON

One of the most recent (yet also trending!) cryptocurrencies of today’s cryptomarket, Tron can compete in its functionality with some of the top digital currencies used in gambling, such as Bitcoin and Ether. The steam this altcoin has gathered among thousands of gamblers may lie in its target at solely entertainment and content sectors.

Monero

First introduced in 2014, Monero is known for its high concern for privacy, fungibility, and decentralization; and these are the main characteristics gamblers appreciate in this currency. The cryptocurrency operates with the proof-of-work mechanism, which generates new coins, as well as helps to secure the transactions.

Zcash

The cryptography technology employed by this digital currency makes it stand out from all the other cryptocurrencies, including the renowned Bitcoin. This technology is directed towards upgrading user privacy, as well as ensuring the transactions are ultimately wise and prudent.

Litecoin

Litecoin is a peer-to-peer and open-source cryptocurrency. It is based on an open source cryptographic protocol, and this makes it a completely autonomous and decentralized currency. Technically, it resembles Bitcoin; and so because of this, it is generally deemed identical to this cryptocurrency by some experts. Nevertheless, Litecoin is less popular among gamblers than its “twin” cryptocurrency. It doesn’t have as many features as Bitcoin either.

Dogecoin

This cryptocurrency uses the image of the Shiba Inu dog as its symbol and a peculiar logo. Although it was intended at first to be a joke currency, it took no time for Dogecoin to prove everyone wrong, after growing into a full-fledged digital currency and reaching a capitalization of $50 million in 2014. It is very easy to make transfers with Dogecoin; and so it has actually become one of the “friendliest” currencies. Also, Dogecoin gambling has become the perfect choice for thousands of audacious players!