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Which cryptocurrencies can be used with online casinos?

By October 5, 2020 No Comments

Cryptocurrencies can be especially difficult to comprehend, particularly when it comes to understanding their fluctuating value. But the bigger question has always been, what exactly do you use them for? To this very day, society at large still finds very few uses for digital currencies, despite the best intentions of the companies and founders behind such innovations. However, in 2020, there is certainly one usage for cryptocurrency that is only going to become more prevalent – that being for online gambling purposes.

In a world where privacy is all-important, the ability to use cryptocurrency is tremendously valuable, hence its widespread usage in the arena of online gambling. But with so many to choose from, which digital dollar should you be plucking for when it comes to online casinos? The answer that most people will immediately conjure up is Bitcoin – quite possibly the world’s most well-known, and valuable cryptocurrency. As the originator, it is still a very popular and sensible choice, but the competition is closing up fast.

Another solid option when it comes to online gambling is that of EOS Crypto. Launched in 2018, it’s one of the newer sites mentioned in this article, but that doesn’t mean it’s any less reliable than its competitors. EOS is thought to have some of the safest crypto technology available today, though you should still take the opportunity to read up on it before committing. Free transactions, speedy payments and top of the range security software makes EOS a more than a dependable option.

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Next up, we have Ethereum, which is similar to EOS in the sense that it is a blockchain-based crypto that uses smart contacts. Because of this, third parties aren’t able to encroach on any of your transactions, making it a perfectly safe option. Another safe bet is Dogecoin, a currency made famous by its name – which is an ode to the retro ‘Doge’ meme. The team behind Dogecoin have worked incredibly hard to prove that they aren’t just a joke, as their global user base demonstrates. Millions of people around the world use Dogecoin, making it one of the most popular, and most reputable cryptos in the game – despite its humorous origins. 

If none of the above float your boat, there is also Litecoin, which has been dubbed Bitcoin’s slightly less popular twin. Litecoin remains an autonomous and decentralised currency, harnessing the power of AI to be able to process transactions faster than its twin rival. If speed is a priority for you, just as it is for many in the gambling community, then Litecoin may be the perfect choice.

All of the above would make for excellent choices if you do decide to gamble with a cryptocurrency; as they provide speedy transactions, sophisticated technology, and bulletproof security features. But if you still need some convincing over why cryptocurrencies are beneficial as a whole, allow us to explain.

Firstly, geographical location is much less of an issue when using cryptocurrencies. Some bank cards will only be usable in the issuing nation, which is a big problem if you are gambling on an offshore site. Also, crypto technology allows users to have a great deal of anonymity when betting  – much more than they otherwise would have. When using conventional methods, personal ID information can be stored by the casino site and its third-party affiliates – hardly ideal for those who are hoping to keep a low profile. Finally, we come to the issue of speed, which is another area that cryptocurrencies excel in. Generally, Crypto payment methods are processed much faster than the best alternatives, all with the bonus of not imposing any additional transaction fees. That truly is a win-win!