You could be forgiven for feeling confused when you enter a crypto casino and see so many different digital currencies accepted that it makes your head spin. This is a way of making fast and low-cost transactions but which of the most popular tokens should you consider using to start gambling?
Bitcoin Is Well-Established with Good Liquidity
When asked to name a single crypto, most people are going to say Bitcoin which gives us an idea how much it dominates the scene. Bitcoin (BTC) was launched way back in 2009 by a mysterious creator known only as Satoshi Nakamoto. According to a recent HBO documentary, that was a pseudonym for Canadian developer Peter Todd, but we’re more interested in seeing how BTC can help us gamble more efficiently and safely than delving into his story.
BTC has become firmly established as part of the global financial system, with some people referring to it as a type of digital gold. Back in its early days, every Bitcoin was worth a fraction of a cent and an early adopter famously bought a couple of pizzas with 10,000 BTC. We hope at least they were tasty because those pizzas would now be worth millions of dollars each.
The fact that Bitcoin is so well-established means that it gives a good degree of confidence to users. There’s also a high degree of liquidity, as many people buy and sell the token each day. Like most cryptos, BTC’s price can be extremely volatile but you’ll find plenty of online analysis pieces for this coin.
Ethereum Has Low Gas Fees
Ethereum (ETH) is commonly known as the second biggest crypto. Launched in 2015 with programmer Vitalik Buterin, the most high-profile of the founders, it promised to add more functionality than BTC. The arrival of the Ethereum network brought us NFTs, smart contracts, and decentralized finance, among other things.
While this all sounds great, what does it mean for someone who just wants to spin the reels or bet on some cards in an Ethereum casino? Slots, blackjack, and roulette are among the games that can be played using ETH funds. Nearly all the best crypto wallets accept ETH and transfers between wallets are almost instant. The low gas fees are another piece of good news, as virtually all your money reaches your gambling account, where you’ll pick up a welcome bonus too.
Tether Removes the Volatility
The volatility we’ve seen in the crypto markets has long been one of the reasons why new investors think twice before buying digital cash. The high level of volatility with some tokens makes them suitable for traders looking to benefit from sudden price movements, what does it mean for casino players?
ADVERTISEMENT
You could look at this aspect simply by adding an extra layer of interest, as your wins could eventually be worth more if the price moves in the right direction. However, if you prefer to remove this volatility then a stablecoin like Tether (USDT) might catch your eye. This token is designed to always be pegged to the value of the US dollar. Tether recently celebrated its first decade of life, reaching 350 million users and market so far.
Litecoin Is Fast and Flexible
If you’ve ever wondered what the difference is between Bitcoin and Litecoin (LTC) then you’re not alone. This token was created in 2001 using virtually the same code as BTC. So, why might you want to use this token rather than its big brother?
LTC was created to be faster and with lower transaction fees than BTC. The truth is that the savings in these aspects aren’t high enough to change your life or cause you to burst into spontaneous praise for Litecoin. However, if you like to know that you’re getting a good deal at all times, you might decide to give LTC a try.
Dogecoin Could Have a Bright Future
Dogecoin (DOGE) was initially created in 2013 as a sort of practical joke. It’s the first meme coin and the first of the dog coins, designed to make fun of the way the crypto industry was going at the time. Yet, in one of these weird twists of fate that make us wonder where life may be a giant computer simulation after all, Dogecoin has turned out to be a pretty popular token.
Many fans of this currency are waiting eagerly to see if its value explodes. Some hope that Elon Musk will start using it as the payment method on X, while others see enormous value in it as an alternative currency. The price of DOGE has climbed impressively since its early days but no one really knows if this pooch is going to keep on running up the price charts or what the future holds for cryptos in general.
All of these cryptocurrencies have a series of pros and cons for you to consider. If you plan to start gambling in a crypto casino, take a moment before starting to consider which one is likely to suit your best.
ADVERTISEMENT
