So, you like to play online casino games, but plan on switching to cryptocurrency? That’s a smart move, especially since we’ve finally seen a positive movement in the crypto charts and many experts believe that we are entering a bull market.
This plays a huge role when gambling with cryptocurrencies, and nobody likes price fluctuations. Yes, you can gain a lot of money with the rise in value, but you also run the risk of losing money, and there have been some crypto price drops in the past.
Cryptocurrency online gambling isn’t something new. In fact, it has been around for a couple of years. But why do people love crypto gambling so much? And we are not talking about Bitcoin fanatics that start every conversation with “how Bitcoin will change the world”. We are talking about regular people, like you and me, who are fond of cryptocurrencies and like to use them just to improve their advantage.
Which advantage we are talking about? Well, as you probably already know, cryptocurrencies are safer, they offer privacy (which is important in the world of gambling), faster transactions, and sometimes lower fees.
However, all of these things depend on which cryptocurrency you use and the technology that they are built on.
So, when it comes to cryptocurrency gambling, should you stick with the standard Bitcoin casinos?
Let’s find out.
Bitcoin (BTC)
Let’s start with the big one – Bitcoin, the OG of cryptocurrencies. It’s like that dependable friend who’s always around, and most online casinos love it. Bitcoin transactions are super secure thanks to blockchain technology, making them almost impossible to tamper with. It’s accepted at virtually every online casino that takes crypto, which is a huge plus.
The Downsides? Bitcoin transactions can be pricey, and during peak times, the network can get congested, causing slow transaction speeds. Plus, the value of Bitcoin is famously volatile – a gamble in itself. Yet, despite these drawbacks, Bitcoin’s popularity and reliability make it a top choice for online gamblers.
Ethereum (ETH)
Next up, we have Ethereum. While it might not have Bitcoin’s name recognition in the general public, it’s highly respected in tech circles – and for good reason. Ethereum’s smart contract capability is a game-changer for online gambling. These self-executing contracts can automate and simplify many processes, reducing the chances of disputes and making transactions faster and more transparent.
The Catch? Ethereum transactions are generally faster and cheaper than Bitcoin’s, but they aren’t immune to slowdowns and higher fees when the network is congested. Even with this minor setback, Ethereum’s speed and smart contract functionality make it a fantastic option for online gambling.
Litecoin (LTC)
If speed is what you’re after, Litecoin could be your new best friend. Sometimes called the “silver to Bitcoin’s gold,” Litecoin offers faster transaction times and lower fees. This is a massive advantage if you’re someone who likes to make quick, frequent transactions.
To be honest, Litecoin is a popular cryptocurrency in the world of online gambling. Well, it all comes down to reputation, online reviews, and which games they offer.
Why Not Litecoin All the Way? Well, while Litecoin’s speed and cost-efficiency are fantastic, it’s not as widely accepted as Bitcoin or Ethereum. So, if you choose Litecoin, make sure your preferred online casino supports it.
Solana (SOL)
Solana has been making some big moves in the crypto space and its popularity increased quite a lot. Why? Well, this is not some hype that is backed by air, Solana actually comes with real-world benefits like speed and efficiency.
This coin came as an alternative to Ethereum, and to be honest, it is doing quite well. It is designed to handle up to 65,000 transactions per second, which is significantly higher than Bitcoin and Ethereum.
Of course, this means less waiting for deposits and withdrawals, which is always a good thing. On top of that, Solana has very low transaction fees, sometimes just a fraction of a cent, which won’t be too much from your casino profits.
Ripple (XRP)
Ripple is a bit of an outlier in this group. It was originally designed to make cross-border payments faster and cheaper for banks. However, these same qualities – super-fast transaction times and minimal fees – make it an interesting choice for online gamblers too.
The Downside? Ripple is not as widely accepted in online casinos as Bitcoin or Ethereum. But if you find a platform that accepts XRP, you’ll enjoy one of the fastest, cheapest transaction methods available.
What About Meme coins?
We live in a strange world where Meme Coins (cryptocurrencies made just for fun) are reaching an unbelievable market cap. Some of them, are also available for gambling. But should you consider meme coins, or is it too risky?
Well, meme coins may be fun and all, but they come with risks. Why? Well, they don’t have any real-world value or they don’t solve a problem. Their value is manipulated by how popular they are in the culture.
So, I would stay away from meme coins like DOGE. They don’t come with any benefits that any of the other ones don’t have, and is also more difficult to convert them into something else since not all of them are featured on exchanges.
Market Maestro: With an uncanny ability to predict the ups and downs of the crypto market, Jordan is our go-to for all things investment. Just don’t ask him for lottery numbers; he says it’s a different kind of prediction magic.