The popularity of online Bitcoin casinos and other crypto casino platforms has grown dramatically. Since more and more people are now crypto holders, it stands to reason that they would like to find ways to increase the value of their holdings. One such method is crypto gambling.
A primary focus of early crypto casinos was on Bitcoin. Bitcoin’s fortunes have been inconsistent over the past year, with the cryptocurrency losing over a third of its value in the past few months alone. Bitcoin, however, remains the most valuable and influential cryptocurrency in the world.
New crypto casinos provide more than Bitcoin deposits and withdrawals. The most popular sites typically accept dozens of different tokens for play across their massive library of casino games, including slots and table games to live dealer options and fan-favorite cryptocurrencies like Plinko, Crash, and Dice.
This article will explore five different virtual currency gambling options.
The world’s largest stablecoin has problems, but it’s still the most traded crypto asset, with daily transactions above $50 billion.
Playing casinos with Tether is exciting because it’s easy to manage. One USDT is $1, so you know how much your deposit is each time.
1 BTC is worth $19,137 as of September 21. However, that number might vary by 10-30% weekly, sometimes more.
As a volatile currency, it’s terrible for online gambling. Imagine you deposit 0.002 BTC and bet 0.00005 per spin. It’s easy to lose track of your bets, even without trading volatility.
Tether makes gambling as easy as gambling with dollars — a stable currency.
Bitcoin Cash Casinos
Another popular crypto casino token is Bitcoin Cash. Low fees and reliability are its key benefits. It’s cheaper and faster than Bitcoin, and popular sites like Stake, Cloudbet, and BitStarz accept it.
BCH transfer fees are as low as $0.0080 and often free at prominent sites, significantly less than Bitcoin and Ethereum’s transaction fees. Transfers are almost instant, so you get your account credited and your winnings back faster than with other networks that are typically overloaded.
BCH is worth $130. Therefore it’s easier to deposit and bet with than BTC or ETH.
Like most crypto tokens, its price fluctuates, but it’s expected to be a crypto casino staple for years to come.
Most top crypto casinos offer Ripple or XRP, another controversial token.
Players and crypto casinos like it for several reasons. Most casinos provide free Ripple withdrawals. It’s one of few currencies without fees.
Its great network makes it speedy. Bank of America, American Express, and Santander use Ripple. It’s the most robust crypto network.
XRP trades around $0.30, making it an excellent option for low-stakes gamblers or those trying out crypto casinos. Small deposits are acceptable. Most large Ripple casinos require 40 XRP.
Some fiat suppliers accept Ripple. Therefore it can be used at crypto casinos. Skrill and Neteller give players an alternative to paying with bitcoin.
USD Coin Casinos
The main stablecoin alternative to Tether, USD Coin, is more transparent than USDT.
It’s regularly audited by Grant Thornton, a global accounting firm, to guarantee it has enough cash and bonds to fund every USDC in circulation.
Similar to Tether, it’s easy to monitor – one USDC = one dollar, etc.
You can save money on withdrawals compared to other popular currencies by using the Binance Smart Chain blockchain, which usually brings transaction fees down to around a dollar.
Trust Dice and Cloudbet, two popular casinos accepting USD coins, have no restrictions on making or receiving deposits or withdrawals with USD Coin.
Tron casinos are becoming increasingly popular as TRX is one of the crypto world’s fastest-growing currencies, sitting around the 16th most valuable crypto token with a market value of more than $6 billion.
TRX gaming is available from some of the most prominent names in crypto gambling, and for a good reason. It’s a simple coin to manage, similar to Ripple, with roughly $0.60 per token value. Small deposits are allowed, which is ideal if you want to try out a casino before making a more considerable investment.
Transfers are quick and inexpensive. Withdrawals in TRX at Stake are only $0.05; the minimum deposit is 400 TRX.
Tron will become more widely acknowledged next year as more individuals purchase this adaptable coin.
While Bitcoin and Ethereum remain the leading players in the crypto casino sector, other tokens are better suited to online gambling, providing players with a faster and cheaper means to make deposits and withdrawals.
So, think again if you think crypto casinos are only about Bitcoin. The sector is more diverse than ever. Some of the most popular crypto casinos accept more than 50 tokens for deposit and play.