Cryptocurrencies have become so popular over the last couple of years, with a presence in virtually every sector of the world. The online gambling world is also not left behind with literally hundreds of crypto casino sites out there now accepting crypto payments, so you can now carry out your payment with your favorite cryptocurrency. Unlike traditional methods of payment, which have third-party involvement. Among other things, this means that you pay higher transaction charges, and your transactions are easily traceable to you, a risk that is eliminated with crypto payments. The best crypto casino allows you to choose both games you want to play and your favorite crypto.
Nowadays, there are more than 10,000 cryptocurrencies in existence, according to Investopedia. But any talk of gambling with cryptocurrency must surely begin with Bitcoin. Being the very first cryptocurrency to be created, Bitcoin is the father of them all. Not only is Bitcoin the most popular cryptocurrency in the world, but it is also the largest by market capitalization and coin value. It is so valuable as a payment system that some online casinos which accept other cryptocurrency payments immediately convert those payments into bitcoins. This tells you just how valuable it is.
An interesting fact about Bitcoin is that it was founded by an anonymous person (or group) who goes by the pseudonym “Satoshi Nakamoto”.
Arguably the second most popular cryptocurrency after Bitcoin, you cannot but mention Ethereum whenever discussions on cryptocurrencies come up. It was originally intended as a distributed computing platform running on blockchain technology. With the features of an operating system, all sorts of blockchain-based applications can be and have been deployed on Ethereum. It also happens to support cryptocurrency. The coin used on the Ethereum blockchain is called Ether (ETH).
If you are planning for a long-term investment, Ethereum is the best cryptocurrency for this because it has a sustainable market future.
Another contender for the job is Litecoin. Litecoin is similar to Bitcoin in various aspects, as both the structure and template design are similar to that of Bitcoin. But they also differ in various ways. For one thing, its network design means transactions on Litework are significantly faster than that of Bitcoin.
Funny thing, the coin’s official name is not Ripple. Instead, it is XRP. The name of the company that created the XRP coin is known as Ripple Labs, but since Ripple is a catchier and much easier name to remember than XRP, a lot of people have settled on calling it that.
Ripple also boasts of a network that is faster than both Bitcoin and Ethereum. How cool is that! And while doing that, it can also handle much more transactions than the aforementioned two cryptos, being able to handle up to 1,500 transactions per second. Ripple Labs even claims this figure can be scaled to 50,000 transactions per second.
To crown it all, Ripple’s transaction fee is minuscule, at below one penny.
Monero was released as an open-source crypto platform heavily emphasizing decentralization, privacy, and fungibility. But its biggest selling point is its security and complete privacy. While Bitcoin is pseudo-anonymous, Monero is completely anonymous, thanks to the various privacy technologies used by the founding company. Transactions data in Monero remain hidden and cannot be accessed by anybody, unlike with most other cryptos.