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Popular Cryptocurrencies to Buy and Avoid for Online Gambling

Bitcoin

2021-09-04

Benard Maumo

The online casino industry is quickly gathering steam around the world. Today, gamers can play almost all traditional casino games right on their phones and computers. Even better, you can enjoy yourself with other players and a live dealer in a live casino.

Popular Cryptocurrencies to Buy and Avoid for Online Gambling

But just as players are getting used to online gambling, another form of betting is making headlines, cryptocurrency gambling. As you may know, crypto betting is fast, anonymous, cheaper, and more secure than playing using fiat currency.

Unfortunately, choosing the perfect digital coin to play with at an online casino may pose an unexpected challenge. So, read on to learn the best crypto betting currencies and which ones to avoid.

Best Gaming Cryptocurrencies to Buy

Bitcoin (BTC)

It’s not surprising that Bitcoin is at the apex of this list. That’s because BTC is the most valuable and most traded digital coin ever. Also, you’re likely to play live casino games using BTC on any online casino.

However, Bitcoin’s volatility is a source of concern. This year alone, BTC has traded between $35k and $65k. But that’s nothing compared to 2018’s price slump that saw it sell at $6,000. But something is for sure; BTC is the safest crypto investment you can make.

Litecoin (LTC)

Litecoin is another excellent cryptocurrency to consider buying for online gaming. Released in 2011, LTC is now one of the most traded digital coins alongside BTC. Currently, a single LTC equals $130.08.

That said, Litecoin is simpler, more affordable, and easier to mine, thanks to the script algorithm. Compared to BTC, which takes around 10 minutes to mine, LTC mining may take less than 3 minutes. As a result, the transaction cost of LTC is less than what you’ll encounter on most digital coins.

Ethereum (ETH)

Do you know any gambling site that doesn’t accept Ethereum as a mode of payment? Probably none! Launched in 2015, ETH is today one of the most established digital coins. At the time of putting together this article, a single ETH equals $2,170.53.

On top of its low valuation, Ethereum supports smart contracts, making it a popular option for online businesses. In addition to that, ETH supports the deployment of several dApps (decentralized apps). All these features put together make ETH a popular option among the best live casinos. Apart from the above three, you can also consider playing using:

  • Dogecoin
  • Tron
  • Tether
  • Monero
  • Dash
  • Bitcoin Cash
  • Neo
  • Binance Coin
  • Ripple

    Cryptocurrencies to Avoid

    BitTorrent (BTT)

    On paper, BTT might seem like an intriguing concept. This digital coin initially began as a P2P (Peer-to-Peer) file-sharing network. The goal was to change how consumers access entertainment content, although that didn’t work according to plan.

But it was after BTT bought DLive, a YouTube-like live streaming platform, that investors began taking an interest. Sadly, DLive lost its popularity after the January 6 situation in Washington. From then, traders lost interest in the BTT token.

Stellar Lumens (XLM)

You probably know a thing or four about this digital coin. Stellar Lumens is a pioneer utilitarian altcoin (alternative crypto) meant for moving and saving money. After its release in 2014, the intention was to help financial institutions connect via blockchain technology.

Although all has been going on smoothly, this digital coin started posting wild treading numbers earlier in the year. Currently, a single XLM is equivalent to $0.24. Now, if you’re after online casino bonuses, this figure isn’t that attractive, isn’t it?

Conclusion

Don’t get this article wrong; there is absolutely nothing wrong with investing in the two digital coins above. However, remember that the cryptocurrency industry is still relatively new. Therefore, take extra caution, especially during cryptocurrency gambling. Happy summer!

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AUTHORBenard Maumo

Since I graduated from University of Nairobi in Journalism and Media Studies, I have always had a passion for writing. When I started writing for CasinoRank I was a bit nervous, the gambling industry was new to me, and having no previous experience made me a bit jittery. Despite my nervousity I was keen to learn everything there is to know about iGaming. I have learned about professional-strategies and I always keep up to date with industry-news. I've also been captured by Blackjack and its simplicity, the rules of the game are simple and each round is quick - now I am a regular Blackjack player and try to incorporate my best blackjack-tips for my readers.

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