In the history of mankind, there are those groundbreaking new innovations that spur us on to bigger and better things. These major inventions include harnessing electricity, the telephone, the motorcar, the internet and now the blockchain.
Love it or hate it the development of cryptocurrencies on the blockchain has revolutionised how we view digital assets, our thinking around finance and how the world will transact for the foreseeable future.
The Types of Cryptocurrencies
While we have all heard of Bitcoin, Ethereum, Dogecoin and other well know crypto coins there is often some confusion when it comes to terms like decentralised cryptos, stable coins and alt coins.
Here are some easy introductions to these terms:
When Satoshi Nakamoto first conceptualised Bitcoin his intent was to create a digital currency that would not reside on a single server but was spread across the Blockchain. This would ensure that no single country, corporation, or person could ever own it or control it.
Crypto coins like Bitcoin, Ethereum, Dogecoin and others which follow this decentralised tradition by residing on the Blockchain and do not have a single controlling owner are considered by industry pundits to be “true” cryptos.
As the name denotes Alt-Coins are “alternatives to” an existing cryptocurrency. Due to the fact that blockchain and cryptocurrency code is open source, it allows anyone with the appropriate skill level to develop their own coin.
Generally, an altcoin improves on one or more aspects of its original code. An example of this is Ethereum which improved on the transactional aspect of Bitcoin, allowing it to process blocks of transactions in two and a half minutes compared to Bitcoin’s much slower ten minutes per block.
Stable Coins are the type of crypto token which is the farthest removed from Satoshi’s vision for his invention for three reasons:
- They reside on a single server or closed series of servers
- They are owned and operated by single entities
- Its value is dictated by a fiat currency or precious metal
While stable coins exist on the blockchain and offer all of its speed, security and low cost benefits they are simply the digital-only equivalents of our existing country-based currencies. Most governments around the world are in the process of developing stable coin versions of their currencies with the hopes of one day doing away with costly and short-lived paper and metal money. Visit our full guide to stablecoins for more on this interesting spin off of cryptocurrency technology.
Why Crypto Gambling Is Popular
With the unique way in which the blockchain stores and shares data it is the most hacker-proof system on the planet. Rather than store information in a single central location, which once cracked, gives the would-be thief full access to the data the blockchain splits it into thousands of tiny data packets. These packets of data are then spread across all the connected nodes on the internet and are each individually secured.
In addition to this mind-blowing level of security the fact that it is only moving tiny bits of data around means that it can pass large volumes of information at incredibly high speeds. When applied to lightweight products like a casino deposit this means near-instant banking.
Finally, the blockchain does not require you to give confirmable information to access and use it other than a personalised username and an email. It is not perfectly anonymous as there is the issue of using your internet connection (which can be addressed by the information we supplied in our guide to using a VPN for cyber security) and that purchasing Bitcoin is done via a crypto exchange like
Security, speedy transactions and high levels of anonymity are some of the reasons that more players are making the move to gambling at crypto casinos.
The Top 10 Cryptocurrencies
To ensure that we do not fall into the trap of thinking about cryptocurrencies in a limited way we looked to CoinMarketCap to see which digital tokens are the most popular outside of our industry.
Much to our delight, the online casino industry has adopted cryptos with open arms. The proof of this is that ten of the fifteen highest rated crypto coins are already in wide use by the best crypto casinos.
If you are interested in gambling with Bitcoin and other leading cryptos here is a brief overview of the top 10 casino cryptos and an idea of where you can play with them:
1. Bitcoin – First Decentralised Coin
As the first truly decentralised cryptocurrency Bitcoin captured the imagination of the world with its mysterious creator and incredible value growth. It not only drew attention to the potential of digital currencies but also the potential of the blockchain which has seen many industries begin to develop new and exciting innovations, tools and products that have changed the world.
- The first decentralised crypto coin
- Incredibly valuable digital asset
- One of the most secure currencies in the world
2. Ethereum – Decentralised/Altcoin
Ethereum is only second in terms of industry awareness and usability to Bitcoin. As a Bitcoin altcoin, Ethereum offers users the same safety and security with vastly superior processing times. Ethereum has set itself up as the “everyday driver” of cryptocurrencies processing up to 1 million transactions each day while Bitcoin only processes up to 250,000.
- Same secure framework as Bitcoin
- Ability to process up to 1,000,000 transactions per day
- One of the cheapest cryptos to use
3. Bitcoin Cash – Decentralised/Altcoin
Bitcoin Cash is another Bitcoin altcoin, in this case, it was developed in 2017 from a fork of the original crypto. The benefits of Bitcoin Cash lie in its larger block size which means it is faster than BTC while capping its supply which gives it a similar asset value proposition to its progenitor.
- Follows the same digital asset mentality as Bitcoin
- Offers superior processing times as the original coin
- Very low fee structure
If you’re looking to gamble with a cryptocurrency that is incredibly like Bitcoin but offers faster transactions, lower costs and a lower price per coin then Bitcoin Cash could be for you. Try it out today at Kosmonaut casino and 1xBit casino.
4. Cardano – Decentralised/Altcoin
Cardano is the ledger that supports the independent cryptocurrency ADA. The digital coin is considered one of the leading alt-coins on the market due to its reasonable cost, widespread adoption by online businesses and incredibly cheap processing fees.
- Still available at a low price
- Uses a bespoke low-cost fee structure
- Widespread use by online shops and gambling sites
If you are new to cryptos and want to test the waters with a usable and fairly cheap option, then you should consider buying some Cardano. You can play with it online at Fairspin casino and TrueFlip casino.
5. Tether – Stablecoin
Tether is a stable coin that has anchored its value to the US dollar while still offering users the stability, processing speed and security of the blockchain. For banks, businesses, and new crypto enthusiasts it offers the benefits of the blockchain without the fear of massive price fluctuations associated with decentralised coins.
- Steady and predictable pricing
- Offers the digital security of the blockchain
- A popular digital currency for e-commerce
We recommend trying out the benefits of cryptocurrency gambling by starting with the market stability offered by Tether. It is available at MyStake casino and Rolletto casino.
6. XRP – Decentralised/Altcoin
XRP is the cryptocurrency used by products developed by Ripple Labs on the blockchain. The intent of creating XRP was not to launch the next crypto-asset like Bitcoin but to offer the community a network specifically designed to handle high volumes of digital payments
- Specifically designed to process high transaction volumes
- XRP is not mined but rather acquired through trading
- Ranked as one of the top 10 cryptos worldwide
Test out the efficiency and processing power of the XRP network for yourself by using it as your deposit and withdrawal mechanism at both Bet Sensation casino and 1xBit casino today.
7. Dogecoin – Decentralised/Altcoin
Developed a commentary on the insane prices that crypto-assets were demanding Dogecoin has positioned itself to be the ‘everyman’ cryptocurrency. Built on the Litecoin framework Dogecoin offers fantastic processing and low costs but has openly stated its supply will be unlimited ensuring none of the price spikes associated with limited-supply coins like Bitcoin.
- A real-life underdog story
- Unlimited supply manages price volatility
- Offers all the benefits of Litecoin
Take this playful Shiba-token for a walk today by signing up at either 22Bet casino or Green Spin casino today and playing their selection of online slots, table games and arcade games.
8. USD Coin
If you are a fan of innovation and new technology but are sceptical of the crazy price fluctuations of some cryptos then USDCoin could be your perfect solution. This stable coin offers all the processing and security benefits of the blockchain while guaranteeing that each USDCoin will always only cost $1.00.
- Price per coin will always be the equivalent of US$ 1.00
- Enjoy all the benefits of the blockchain
- Built on the trusted and highly trafficked Ethereum framework
USDCoin’s stable pricing anchor makes it the perfect cryptocurrency for players looking to move from fiat currency banking to digital banking without risking their bankroll to currency volatility. Play with it at 1XBit casino and Fairspin casino today.
Chainlink is considered an Ethereum alt-coin. While it offers users all the expected speed, low costs and security of the blockchain it has the added benefit of integrating transactions that are not based on the blockchain. This is allowing people to seamlessly do business using fiat currencies with blockchain companies.
- Ethereum-based altcoin
- Seamless off-blockchain transaction processing
- Offer tamper-proof cross-blockchain smart contracts
Test the high speeds, hack-proof security, and low fee structure of this altcoin for yourself by playing at Casino-Z and 1XSlots Casino today.
10. Litecoin – Decentralised/Altcoin
Litecoin is one of the early Bitcoin altcoins having been launched in 2011. In addition to offering the same anonymity and security options as its source, the developers behind Litecoin have also engineered the Lightning Network for instant global payments for everything from casino deposits to purchasing a coffee.
- Hack proof peer-to-peer transaction network
- Lightning network for instant payments
- Developers of Atomic Swap for cross crypto trading
How To Gamble With Cryptocurrencies
Now that you are comfortable with what the differences are between the various types of coins, know a little more about the top 10 cryptos for gambling and have some idea of where to play with each of them let's talk about how to deposit and withdraw with cryptos.
Despite being a groundbreaking new technology using them in practice is incredibly simple. To begin gambling with digital currencies all you need to do once you’ve joined your preferred crypto casino is follow the simple steps below:
✓How To Deposit with Crypto
To make your first deposit at an online casino with cryptocurrency, plus claim the amazing welcome bonuses on offer, follow these simple steps:
Step 1: Click on deposit at the top right of the page.
Step 2: Select bitcoin, copy the private depositing address, and enter a relevant promo code.
Step 3: Send the bitcoin to the private depositing address from your bitcoin wallet of choice.
With the speed and power of the blockchain, your first crypto deposit will be ready and waiting for you in your account within moments.
✓How To Withdraw with Crypto
When it comes to cashing out your winnings the process is even more simple than making your first deposit. Follow these easy steps to withdraw your money:
Step 1: Click Profile at top right of page, then click withdrawal.
Step 2: Find your Bitcoin wallet address.
Step 3: Select Bitcoin, enter your wallet address, the amount to be withdrawn, click withdrawal.
For players who are used to waiting up to five business days for a withdrawal crypto-cash out will be mindblowing. At most, you will have to wait 15 minutes before you see your withdrawal become available in your wallet.
- online casino
- crypto gambling
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