Introduction
Online gambling is a highly competitive industry. Newcomers seek to upset the old brands by offering customers a range of benefits, including bonuses and promotions and various payment methods. One must understand how to claim the bonuses that online casinos offer by activating a code. A player then can start to enjoy the goodies that come as part of the bonus. The type of payment method is also an important feature in the online casino industry. This article is about the different types of cryptocurrencies that you can use in an online casino.
Why use Cryptocurrency on online casinos?
Both online casinos and gamblers benefit from the use of cryptocurrencies for payments. The following are some of the most important benefits of placing bets using cryptos instead of fiat currency.
1. Anonymity
Cryptocurrencies provide the perfect cover for anyone who would like to remain anonymous while placing bets on online casinos. No one can use the information of transactions conducted using cryptos and utilize it to identify individuals. Thus, using the coins ensures that your identity will never be revealed to third parties.
2. Lower transaction fees
The value of cryptocurrencies changes in real time. Casinos also adjust their transaction fees based on the value of the coins. However, the average fee of transacting using cryptos is much lower than that for fiat currency. Thus, customers tend to enjoy the lower fees of transacting on online casinos using cryptocurrencies.
3. Enhanced security
Casinos that allow their customers to use cryptocurrencies for transactions are more secure than those which still let customers use credit cards. This makes them less susceptible to hacking and other forms of cybercrime which usually occur after a breach of the payments processing procedures.Thus, you can complete any transaction on such sites, for example, activating the Stake bonus code on this popular crypto platform, securely.
5 Top Cryptocurrencies
The demand for cryptocurrencies is set to continue growing rapidly in 2023. This will be the case despite the crypto meltdown that occurred in 2022. Thus, many gamblers will adopt cryptos for their activities in online casinos. But given the high number of coins available, it is important to understand which ones are the best. Our researchers have carefully evaluated the cryptos and come up with the following list.
Litecoin
Litecoin is an amazing crypto worth a try for all who like to gamble online. There are a number of features that make this coin a great choice, particularly to those who would like to use a crypto different from Bitcoin.
Litecoin accommodates far more coins than Bitcoin. Whereas Bitcoin can accommodate 21 million coins only, for Litecoin, it is pegged at 84 million. Thus, on a matter of scale, Litecoin is far much better than Bitcoin.
The second important feature of this coin relates to its crypto-to-dollar exchange rate. Litecoin has a far much lower rate than Bitcoin. Thus, you can easily transact in Litecoin if you are not able to handle the large amounts related to the high rate of Bitcoin.
Dogecoin
Dogecoin has steadily achieved a reputation as a reliable alternative to other leading cryptocurrencies. This coin was created to parody Bitcoin however, it assumed its own life and has considerably increased in market value and popularity. Many attribute its popularity to endorsements by leading celebrities. There have even been talks that the coin may be adopted as one of the payment methods on Twitter. However, this assertion has not been proven.
Dogecoin is an excellent crypto for online gambling. It has a very short confirmation time of one minute while that for other mainstream coins is about ten minutes. Thus, your deposit transaction using Dogecoin is ten times faster than that which is based on any other cryptocurrency like Bitcoin.
Ethereum
If you would like to use a different cryptocurrency from Bitcoin for online gambling, it may be a good idea to try Ethereum. This cryptocurrency, which emerged in 2015, has grown rapidly to occupy the second position in terms of market capitalization. So, many gamblers who would like a good alternative to Bitcoin invariably end up using Ethereum.
A comprehensive upgrade to this coin was released in September 2022. The upgrade addressed many key issues about the network that were not operating optimally. Thanks to the upgrade, Ethereum is now a wonderful alternative to Bitcoin. The time for confirming blocks has drastically reduced. Thus, you can quickly and safely use the coin in any online casino where it is included as a method of payment.
USDC
USDC is another great cryptocurrency that you can use in online casinos. The coin remains popular among fans of online gambling despite its recent fall in market value and circulation. USDC has various features that make it appealing to gamblers. For example, its exchange rate is lower than that of many other cryptocurrencies. Thus, individuals who may not handle large transactions may find it suitable for their online gambling.
Bitcoin
Bitcoin is the most popular and capitalized cryptocurrency in the world today. The coin retains this leading position despite the stiff competition it faces from other more secure, highly scalable, and relatively faster alternatives like Ethereum.
Bitcoin is popular among online casinos because of similar reasons. This coin was the first one to appear on the scene. The early online casinos that decided to include it as a payment method ended up reaping big in the short and long term after cryptocurrency casinos started becoming very popular.
Currently, all online casinos that accept cryptocurrencies do include Bitcoin as the primary method of payment. Moreover, there are revolutionary casinos that do not accept any other form of crypto coin except bitcoin. Such online gambling platforms are simply referred to as Bitcoin casinos.
Conclusion
Cryptocurrencies will continue to grow in popularity within the online gambling industry. Many gamers nowadays prefer to use sites that accept cryptos as a method of payment. Selecting from the lists of coins that many online casinos provide their customers may not be easy. One needs to consider many factors, including the key features of the coins, before settling down on the right type of cryptocurrency.
The post 5 Top Cryptocurrencies to Use in Online Casinos in 2023 appeared first on CryptoMode.
