Bitcoin, Dogecoin, Or Something Else For Crypto Betting?
With mobile and PC gaming innovations, there’s a notable growth of interest in playing games using cryptocurrencies. For some, playing games using digital coins allows them to increase the worth of their investments, while others are impressed with their safety and low transaction costs.
Bitcoin is among the most popular digital currencies in the market, although there are many others that are less popular. These cryptocurrencies have increasingly penetrated the casino market for the last decade, with bitcoin dice offering various games for punters using these digital currencies.
Top Crypto Currencies For Casino Gaming
With various crypto coins making their way into the market, more and more casinos embrace the digital currency market and allow their punters to wager using them. Some of the top cryptocurrencies in the market that punters can use include:
You can’t talk about crypto gambling without starting with Bitcoin (BTC). Bitcoin is the largest cryptocurrency globally in terms of coin value and market capitalization, being the first digital currency that started it all. That explains why Tower.bet have embraced it for casino gaming.
Bitcoin was officially registered in August 2008, and it has remained a dominant digital currency worldwide. As such, almost every casino operator planning to offer cryptocurrency gambling on their site will most likely accept bitcoin as the coin is recognized globally by investors and crypto enthusiasts alike.
Converting Other Currencies to Bitcoin
Bitcoin is a solid peer-to-peer payment system, which is why most online casinos accepting deposits in other digital currencies convert them into Bitcoins immediately. That shows that merchants strongly trust BTC as the standard for trading crypto.
Whether converting cryptocurrency deposits into Bitcoin is a great idea or not, that remains up for debate. Some people frown at the practice considering the volatility of all digital currencies in general, while others believe that BTC is the best cryptocurrency to hold.
While the mass adoption of DogeCoin leaves much to be desired compared to bitcoin, this digital currency has a fairly united and devoted community. More businesses are starting to accept this cryptocurrency as time goes on, and operators are jumping on the opportunity for slots and poker betting.
Most Doge casinos have various conditions for betting with this virtual currency, with some making it possible to earn and spend in various casino games while others offer only slots. The coin started as a joke by programmer Jackson Palmer, but little did he know that it would be a $60 million market cap in only a month.
Is Dogecoin Worth it?
Like most cryptos in the market, Dogecoin offers numerous benefits for online gambling. The system doesn’t need your private data, so nobody can track you from the casinos you visit or the amount of cash you wager in there.
Besides anonymity, Doge transactions are cheaper than the traditional banking methods, and most DOGE casinos offer a significantly higher payback percentage. Additionally, sending DOGE also takes less time compared to fiat currency, although not many casinos accept it for deposits compared to other alternatives.
Ethereum is an interesting crypto for online gambling operators as it’s more than just a digital coin. The platform was originally created as distributed as a distributed computing platform based on the blockchain, with features of an operating system. In short, ethereum was built as a development platform that has supported the creation of all kinds of blockchain-based platforms besides supporting cryptocurrency.
The blockchain-based platform was originally launched by researcher Vitalik Buterin in 2013 and went live in 2015 with 72 million ETH coins. Unfortunately, a glitch in the platform’s smart contracts allowed hackers to steal $50 million worth of coins, and fixing the problem led to the creation of two altcoins – the rebranded Ethereum Classic (ETC) and the new Ether (ETH).
Like other cryptocurrencies used for betting on casino games, Ethereum allows you to bet without proof of identity or entering your personal information. Ethereum is also a highly secure way of using cash, with plenty of encryption keeping transactions and accounts safe. However, its volatility can be a turn-off to some operators, making it less available on many sites than bitcoin.
Choosing the Best Crypto For Betting Online
When choosing to place wagers using cryptos, it’s best to start using the type of digital currency you already own. You can also select the coin with the lowest blockchain fees, as the costs are always dynamic. The prices are predicated on the network’s traffic and the amount you’re transacting.
Besides the fees, it helps to choose crypto with quicker transfer times. Fortunately, Bitcoin, Dogecoin, and Ethereum have similar transfer times as they all take about 30-60 minutes to verify. Additionally, you’ll want to wager with a coin that has great investment potential, but you must be cautious when identifying profitable currencies.
While Bitcoin, Dogecoin and Ethereum appear to be the most profitable crypto investments, there are many others that you can wager with. These crypto coins include Bitcoin Cash, Litecoin, Stellar, Tether, USD Coin and many others. Unfortunately, not all crypto casinos support these digital coins.
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