Bitcoin is undoubtedly the most recognized cryptocurrency in the world but not the only one. There are at least five new kinds of e-money used in various fields with casinos and sportsbooks being no exception. Here is the list of all cryptocurrencies used in online gambling you should know about.
Last year, Bitcoin gained popularity on trading platforms and became the most popular cryptocurrency. Many entertaining services, shops, apps, betting, and casino sites have added Bitcoin to their list of payment methods. However, it isn’t the only crypto you can use to play casino games. Let’s see which types of crypto are the most popular at online gambling sites in the US.
All cryptocurrencies used in online gambling
According to Investopedia, there are more than 4,000 cryptocurrencies in existence as of January 2021. Some other sources state their number is even bigger and exceeds 7,000. Anyway, crypto has its own favorites that are used the most in various transactions. What does the top-5 look like within the gambling industry?
Monero is frequently used in online gambling due to its anonymity
Monero is one of the best cryptocurrencies to use in online gambling for a number of reasons. However, its main advantage is anonymity – a thing many gamblers want to have while playing casino games. So, what is Monero and how does it work?
Like Bitcoin, Monero is a kind of digital currency. Unlike Bitcoin, it has an open-source protocol based on CryptoNote. It means that all transactions and details about them – source, destination, total sum, and purpose – remain anonymous. That’s why it is gaining popularity at online casinos in the US and will become one of the main payment methods in the future.
Litecoin is gaining popularity among gamblers who value their time
Another relatively popular crypto at online casinos and betting sites is Litecoin. It is called “a Bitcoin spinoff” or altcoin. Bitcoin is pretty much similar to Bitcoin in technical details with some key differences though. The main one lies in its speed. Thus, Litecoin confirms transactions faster than Bitcoin as it processes a block almost x5 times faster. This is good for gamblers and punters who know that time is money. Although Litecoin is used in online gambling not as frequently as Bitcoin, some gambling sites can still accept it.
Dash is Bitcoin’s younger brother in gambling
Dash is a Bitcoin fork that surpasses it in some aspects. For instance, using Dash guarantees privacy and faster transactions than its original. Those who have used Dash report about its payments made within seconds. High speed and anonymity – what else can a gambler want?
Unfortunately, Dash is the least popular crypto among all cryptocurrencies used in online gambling. By 2021, very few casinos have added it to their payment methods. While waiting for Dash to gain the popularity it deserves, you can play some Bitcoin roulette games.
Will Ethereum become a number-one crypto one day?
If you are interested in crypto, you know that Ethereum is the second most popular crypto after Bitcoin. Although Bitcoin surpasses it in terms of investment, ETH is better as a stable payment method. Many e-wallets work with it making it more available than most kinds of crypto. So, if you want to use crypto for gambling purposes, pay more attention to Ethereum. It is really likely that ETH will surpass Bitcoin one day!
Bitcoin is the most popular crypto among gamblers
Predictably, Bitcoin is the king among all cryptocurrencies used in online gambling. Many online casinos and betting sites work with it. For example, you can pay with Bitcoin at Ignition Casino – one of the biggest gambling sites in the US – and some other casinos. In addition, most e-wallets are friendly to this cryptocurrency. Although it has some drawbacks, it is still the number one crypto in the world.