There once was a time not so long ago, where if you talked about the concept of cryptocurrencies, you would probably get a few weird looks headed your way. It was like you were telling people you knew all of the best NFL picks against the spread without even understanding an inch of professional football or sports betting, but still, cryptos were starting to make their presence felt, and then and there was probably the absolute best time to jump on the hype train.
Nowadays, cryptos are everywhere, including the flourishing online casino and gambling industries. Given the fact that these businesses have managed to become mainstay players in the world of entertainment, especially during the Covid-19 pandemic, which has ended up pushing more and more people towards the realms of technological advances and daily online dealings, it was only a matter of time for cryptocurrencies to become one of the most sought after currency options for casino fans to play with. But which cryptos work best when wanting to play in online casinos? Here we bring you our picks.
For there to be a cryptocurrency revolution, there had to be one crypto to start it all, thus entering Bitcoin. Ever since hitting the markets in 2008 Bitcoin has established itself as the premier crypto option in the world, not only for online casino and gambling ventures but for all crypto-ridden businesses. If you take into account the general market value of BTC as well as the flourishing market capitalization value it holds, it was a given that as soon as online casinos started accepting payments and deposits being done through cryptos, Bitcoin was going to be the first and most popular option to work with.
Given its popularity and the levels of trust it has garnered across all different economic and technological platforms since its dawn, all of the premier online casinos in the world usually hold Bitcoin as their number one option for crypto transactions. Some doubters and critics have been vocal about exposing the volatility factor that Bitcoin has been known to carry, but in a larger frame of mind, BTC continues to prove time and time again that using it, especially for investment and saving opportunities, it’s the best way to go, even more, if it’s used in a manner where money can be gained on a whim, like when playing casino games.
Many crypto traders, investors, and experts consider Litecoin to be Bitcoin’s little sibling. But even if the market value and capitalization factors that Litecoin holds are far away from what Bitcoin offers, it has become a popular option for online casino players who dabble in the world of altcoins but like to use another option rather than BTC.
One of the main tipping points that casino gamers and fanatics have found when using Litecoin is the speed at which transactions can be made. Unlike with other cryptos where transaction times can vary, Litecoin’s algorithms allow for the processing of deposits and withdrawals in online casinos to be much faster than usual, with an average speed of about two and a half minutes. This alone has allowed Litecoin to position itself as the next best option apart from Bitcoin in a general competition point of view, with experts truly believing that Litecoin could give BTC a true run for its money and status as time progresses.
One thing that most crypto investors and users, as well as online casino and gambling fanatics, have in common, is how much they value the privacy and security with which they go about their dealings. While cryptos have been known to garner immense levels of popularity because of their top-tier security and data management strategies, Monero, a crypto platform that first made its debut in 2014 has been slowly becoming one of the front leaders in ensuring its users the highest levels of security details when it comes to its use online.
Monero’s state-of-the-art proof-of-work technology was specially designed so that every time a new coin is mined, the security measures automatically improve. Also, while in most other crypto platforms information on account balances, payment records and other important pieces of information are usually noticeable for the general public, Monero has made it a point to keep all of that information as secret as possible within their blockchain systems, with only the miners being allowed to have access to that information at all times. So if you’re an online casino fan and want to be able to keep your playing and of course the information of your winnings as silent as possible, Monero is the way to go.