Best Bitcoin Alternatives for Online Casino Betting
Starting an online casino which accepts Bitcoin payments is one of the most popular gaming solutions that you’ll find on the web these days. Players are looking to multiply their Bitcoins by playing casino games, without having to offer detailed information about their identity. More than that, Bitcoin casinos can be accessed by a higher number of players from different geographical regions.
We know that Bitcoin remains the most popular cryptocurrency, but recently, we’ve noticed that players tend to also use alternatives to Bitcoin. Cryptocoins have distinctive features, but some of them are better suited for online casinos than others. There are over 4,000 kinds of digital coins on the web nowadays, but our recommendation would be to only use cryptocoins that are already well-established on the market.
These are the coins that casino players use most as alternatives to Bitcoin.
Ethereum is one of the most stable digital currencies. Its value managed to stay relatively constant against the dollar, whereas the majority of cryptocurrencies are known for their high volatility.
Like so, players have the advantage of knowing that the value of the Ethereums in their casino wallets will not drop drastically over a brief period. In comparison to Bitcoin, Ethereum can be obtained easier and with faster transaction times.
Several casinos that allow cryptocurrency transactions have appeared during the past year, with provably fair games that assure players of odds that haven’t been modified in the casino’s advantage. The Ethereum network actually powers the Ether currency, which is in high demand for online gaming.
Litecoin is the second crypto currency developed after the invention of Bitcoin, which can also be generated through the process of mining. There aren’t many differences between the two, but Litecoin boasts faster block times than Bitcoin. Online casino players can easily obtain Litecoin via a wide range of cryptocurrency exchanges.
This digital coin is relatively stable, and it is known for processing transactions faster and with cheaper fees. More than that, due to its faster block generator, the blockchain that stands beneath Litecoin can handle a higher number of transactions than its counterparts.
Litecoin has been trending in the community of gambling, with several online casinos accepting this currency and marketing their gaming sites as Litecoin-based casinos.
Dash is a cryptocurrency which boasts to offer even more privacy than Bitcoin. Dash uses a built-in mixing service that hides the chain of the coin’s transaction. Like so, no one can track patterns on the Dash blockchain which lead to tracking transactions.
Another great advantage of Dash is that it offers instant transactions, without the need of confirmations. There are several online cryptocurrency wallets which allow players to store dash.
The only downside of Dash is that its popularity hasn’t grown so much as other cryptocurrencies’. There are few online casinos that accept Dash, but if you’re willing to start an online gaming site that allows cryptocurrency payments, Dash can be a viable solution.
Monero, another secure, private and untraceable currency, caught online casino players’ attention due to its fast transactions and lack of issues when it comes to depositing and withdrawing. Monero isn’t as utilized as Bitcoin or Ethereum for online casino betting, but it’s an interesting option for players who decide to invest in a variety of cryptocurrencies.
Dogecoin is a fun cryptocurrency which has been designed after the popular internet dog meme, Doge. Surprisingly, even though it started as kind of a joke, it managed to get in the top 20 cryptocurrencies at one point in time.
Several crypto casinos have adopted Dogecoin, some of them even being marketed as Dogecoin-only crypo gaming sites. Doge casinos have been around sine 2016, so it’s safe to say that people don’t perceive them as scams.
There aren’t currently many casinos that allow Dogecoin transactions. Though this cryptocurrency sounds like fun and like a good idea for an online gaming site, it’s still perceived by many as simply a “joke currency”. We believe that Dogecoin can have potential when it comes to online gaming, but it should be used for a gaming site that also allows other cryptocurrency payment options.
BY CASINOWEBSCRIPTS PUBLISHED 8 March 2018