The Most Popular Cryptocurrencies for Online Casino Gambling

There are more than 10,000 types of cryptocurrency on the market. Each type of crypto has its own perks, its own downsides, and its own uses. This article will focus on the best and safest coins used to gamble with crypto. 

Bitcoin (BTC)

ATH Market Cap: $1.2 Trillion

Bitcoin was the first cryptocurrency, established back in 2009. Decades later, it is still far and away the largest cryptocurrency in the world, with a market cap more than twice that of the second most valuable coin (Ethereum). As a result, Bitcoin is considered the face of cryptocurrencies. Generally, the entire crypto market follows a similar price trajectory to that of bitcoin.

It shares the same anonymity and fast transaction speed that is the signature of cryptocurrencies, which is a match made in heaven for gambling. But what really sets Bitcoin apart is its immense popularity. You will never struggle to find a casino accepting Bitcoin. There are even dozens of Bitcoin-exclusive casinos and games. And after you win bitcoin in a casino, you will have no trouble finding a wallet to store it, a retail location to spend it, or even an exchange to cash it out into fiat cash.

However, before dabbling in Bitcoin, you should be aware that its price is heavily volatile. In addition, there is a big distinction between Bitcoin and its hard-fork versions, such as Bitcoin Gold, Bitcoin Dark, and BitcoinZ; these forks are not accepted in nearly as many casinos.

Ethereum (ETH)

ATH Market Cap: $497 Billion

Ethereum is a platform that is home to its native currency: Ether (ETH), non-fungible tokens (NFTs), and decentralized applications(DAPPs). Ether itself is used to power the Ethereum platform, just as Bitcoin is compared with gold, ETH is usually likened to oil. Although it might not be the most common casino cryptocurrency, it has the potential to revolutionize the gambling industry. 

Many blockchain games have been created on the Ethereum network, which means that casino games can also be made in the same way. This may introduce us to a new breed of decentralized games made specifically for casinos that have a superior level of transparency. Since Ethereum is a decentralized and open-source network, everyone can check the code themselves to make sure the result of every game is completely random.

Dogecoin (DOGE)

ATH Market Cap: $90 Billion

Dogecoin has no supply limit and it’s most often used on social media like Reddit and Twitch to ‘tip’ content creators. Its name and brand originate from a Reddit meme and even the coin itself was developed as a joke. This is why many people doubt the legitimacy of this crypto even when the Dogecoin market cap has exceeded 40 billion dollars.

One figure instrumental to the explosion of DOGE is Elon Musk, who heavily endorsed the coin on his Twitter. As the number of people interested in Dogecoin was rising, more and more casinos started adding the currency into their payment options. 

Also, Dogecoin is believed to be more practical in day-to-day usage than Bitcoin. Most people treat Bitcoin like literal gold, which is to just hold it to resell it later for a profit. In contrast, Dogecoin is a casual currency that people are more willing to actually spend whether on buying things or gambling.

Tether (USDT)

ATH Marketcap: $64 Billion

One of the major reasons why some people including gamblers are hesitant to use cryptocurrencies like Bitcoin is their market volatility. Stablecoins were introduced to bridge the gap between fiat and crypto, the most popular of which is Tether.

Tether offers ‘the best of both worlds’, that is the security, privacy, and lightning speed of cryptocurrencies, combined with the stability of fiat. It achieves this by having every Tether token backed by a reserve asset so 1 USDT per token is always recognized by Tether as 1 USD.

It is a great option for gamblers who just want to bypass the government’s restriction on gambling yet don’t want to participate in the volatile crypto market. What’s more, because the value of Tether is the same as dollars, it helps gamblers manage their bankroll. When you lose 0.003 BTC, the small number tricks your brain into thinking it’s nothing when it’s well over 100 dollars already.

Ripple (XRP)

ATH Market Cap: $123 Billion

Ripple is a private company behind the cryptocurrency: RXP. Ripple acts as a payment settlement platform that uses less energy than Bitcoin for transactions. The transactions themselves are more efficient regarding time and cost as well.

The thing that makes Ripple stand out is that its tokens are already mined before it was introduced to the public and it is backed by many major banks and organizations. This is because Ripple is made to mainly accommodate the banking industry rather than individuals. But this means gamblers can feel more secure using XRP knowing that there are huge institutions behind the currency.

All of the types of crypto on this list can be easily obtained on Binance or Coinbase. If any of these coins appeal to you more than others, check out this quick reference to find some of the top online casinos that accept your crypto of choice.