Ethereum, bitcoin, and more – Cryptocurrency options at online casinos
A new generation of online gambling is being revolutionized by cryptocurrencies. Digital coins are now accepted as an alternative to traditional payment methods by casinos. For players, crypto transactions come with several potential benefits.
- Ethereum
Ethereum has become another prevalent crypto choice at online casinos. The Ethereum network supports its native currency Ether (ETH), but also hosts decentralized apps and smart contracts that enable advanced blockchain gambling functionality. Payments via ETH benefit from the same quick transaction times and security as Bitcoin. Gas fees on the Ethereum blockchain are typically lower than BTC transaction fees. It makes Ether efficient for processing deposits and withdrawals at crypto casinos. Beyond payments, the Ethereum network allows online casinos to integrate innovative features like provably fair gaming, automated rewards through smart contracts, and decentralized platforms. ETH brings more possibilities beyond just cryptocurrency transactions.
- Bitcoin
As the original and most well-known cryptocurrency, Bitcoin naturally paved the way for adoption in the casino industry. Some sites supported Bitcoin deposits as early as 2012, though mainstream adoption accelerated from 2016 onward. Bitcoin provides fast and secure worldwide transactions thanks to its decentralized blockchain network. BTC coin transfers are processed in minutes, so players don’t have to wait days for payments like with traditional banking. It makes Bitcoin ideal for online gambling deposits and cashouts. While Bitcoin transaction fees and processing times fluctuate, it remains the most widely supported option for crypto casino payments. Nearly all sites that take cryptocurrency accept BTC. Players easily purchase coins from crypto exchanges to fund their accounts.
- Litecoin
Litecoin is a blockchain-based payment coin similar to Bitcoin but with faster and cheaper transaction processing. LTC can handle a higher volume of transfers and charges lower network fees. This makes it feasible for tiny, frequent crypto bets. Many crypto casinos adopt Litecoin alongside Bitcoin to provide a lightning-fast payment alternative. LTC transactions are confirmed in under 3 minutes, so deposits get credited almost instantly. Litecoin allows playing more hands and rounds than BTC in the same timeframe. For players making lots of micro bets or playing high-speed game variations, Litecoin is the superior cryptocurrency. LTC might even be offered as a stake bonus by casinos to promote its use.
- Stablecoins
Stablecoins are a type of cryptocurrency with a value pegged to an external asset like the US dollar. This gives them price stability compared to volatile coins like Bitcoin. Popular stablecoins include Tether (USDT), USD Coin (USDC) and Dai (DAI). Casinos support stablecoin deposits, so players can move funds in and out of crypto without exposure to currency fluctuations. Dollars be securely converted to or from stablecoins. It provides a reliable medium for crypto gambling. Stablecoins allow transferring dollars digitally across borders, sidestepping costly wire fees and foreign transaction charges from banks. Gambling with stablecoins provides the speed and privacy of crypto with the stability of dollars.
