There are now over 4,000 different cryptocurrencies available online which all have been designed to offer new solutions. Many ALTcoins have been created for the gambling market to enable things that were not possible before becoming reality. If you want to try out one of the new crypto casinos you will first need to decide which coin to use to enjoy the full benefits. In this article, I will talk about the most popular that you can use to gamble with.
The world’s most popular and oldest cryptocurrency is Bitcoin which has a market cap of over $100 billion. When it first started life it was widely used for gambling purposes with more than 50% of all transactions related to gambling during the early years. It allowed for the first time instant payouts, micropayments, no limit payments, anonymous play and no country restrictions which helped fuel its growth in the casino sector. Due to the fact that it is the most used, it is also the most trusted along with most resilient to price crashes.
Bitcoin was designed as an alternative to traditional fiat money but has not been able to offer all that it promised with transactions times and fees rising over the last few years. One ALTcoin that has been designed to work alongside the banking system is Ripple which is supported by the likes of Google and large banks. It does not offer anonymity and it is not decentralized but does have many other advantages over its rivals.
The world’s second largest crypto is Ethereum which has taken the Bitcoin protocol and improved it so that it can enable lots of different features. The ETH blockchain is used by many different AlTcoins along with smart contracts to offer solutions to many problems along with far greater automation possibilities. It is extremely popular as a virtual currency for gambling and with new ICOs that implement this technology on the rise, it is going to completely transform the industry. This tech enables zero edge games for the first time along with a whole host of other advantages that are beneficial to gambling.
Bitcoin was supposed to offer almost zero fees on any transaction no matter where the parties were based in the world but due to increased demand, it has not managed to achieve this. One of the biggest complaints about BTC is the cost of doing business along with transaction times which is where Litecoin comes into play. It was created to solve both of these dilemmas and has managed to achieve it which is why it has become so popular. For gamblers, it means they will take home more profits as they will save on fees. You can find the best gambling Litecoin options here.
Dash is a great cryptocurrency for fast cheap micropayments which is why it is popular with many cryptocurrency gambling sites. It is very user-friendly and easy for gamblers to understand and use appropriately. It may not have the technological potential that both Litecoin and Ethereum present but what it lacks it makes up for in speed and cost.