What Cryptocurrencies are Most Popular in Online Casinos?

img source: istockphoto.com

When Satoshi Nakamoto launched Bitcoin in 2009, he promised it would disrupt the banking sector for good. Not only would crypto facilitate global payments without an intermediary, it would also be cheap and secure.

Now, no one really knows who Satoshi Nakamoto is—he chose to remain anonymous. But one thing is clear. Bitcoin has inspired hundreds of cryptocurrencies, many of which you can use for online shopping, paying fees and gambling online.

Here, we’ll list the most popular cryptocurrencies at online casinos. Ready? Let’s dive right in.

1. Bitcoin

Img source: unsplash.com

Bitcoin is the most popular cryptocurrency in the world. This shouldn’t come as a surprise. It was the first ever digital currency of its kind. As mentioned, Satoshi created BTC to change how people transact.

As a result, you can deposit money to online casinos without asking for assistance from your bank. The beauty of it all is that you don’t need to own a full Bitcoin. You can own fractions of a BTC known as Satoshis—named after the inventor.

Because Bitcoin is the most accepted cryptocurrency at online casinos, it’s worth buying. Its popularity means you’ll never have problems finding a BTC online casino.

Note: Bitcoin might be popular. But it’s not the fastest nor cheapest crypto out there. Before you join a BTC casino, check out its alternatives.

2. Ethereum

Ethereum is the second most popular online casino. Vitelik Buterin launched Ethereum in 2015 with an entirely different goal from Bitcoin. Precisely, he created Ethereum to be a platform for building decentralized applications.

To expound more, developers can use Ethereum to create decentralized payment apps, slot machines, casinos, social media networks and Non-Fungible Tokens (NFTs).

Being such a powerful ecosystem, Ethereum has grown from less than a dollar in 2015 to more than $4000 at its peak. With that in mind, Ethereum isn’t just good for building blockchain-based apps.

You can also use the coin for online casino deposits. And being the second most famous cryptocurrency, it’s available at all leading crypto casinos. In many cases, casinos that accept ETH also support altcoins built on the Ethereum token—Tether, Chainlink, Shiba Inu, OMG and BAT.

3. Litecoin

Img source: pinterest

Created by former Google employee Charlie Lee in 2011, Litecoin is one of the oldest cryptocurrencies in the world. Lee forked Litecoin from the Bitcoin blockchain to create a faster, cheaper and more scalable coin.

Indeed, Litecoin is faster, cheaper and supports scalability better compared to Bitcoin. Needless to say, it’s a great BTC alternative, whether you want to shop on Amazon or deposit money to an online casino.

Where can you find Litecoin casinos? Casino Jungli’s guide to best Litecoin casinos in India lists seven top-rated sites to consider. All the casinos offer more than 500 slots and table games. More importantly, they have welcome bonuses worth thousands of rupees.

4. Bitcoin Cash

Bitcoin Cash is yet another fork from Bitcoin designed to solve Bitcoin’s speed and scalability issues. For clarity, a fork is a cryptocurrency created by splitting Bitcoin’s blocks.

A Bitcoin block is a data structure used to store blockchain-based transactions permanently. When a block is split, it invalidates previous payments and forces everyone to upgrade to the new system.

That said, the Bitcoin Cash achieved is goal. It’s faster and cheaper than Bitcoin. As a result, some people prefer to use it for casino deposited compared to transacting through BTC. After all, who doesn’t want to save money?

5. Solana

Solana is a relatively new online casino that took off in 2021, growing from less than $1 in January to more than $200 by November. Solana is an alternative to Ethereum, meaning it exists to help developers create decentralized apps.

Solana is incredibly fast and supports up to 65,000 transactions per second. It’s also unbelievably cheap, averaging $0.00025 in fees. These two features are the reasons for its fast growth.

For clarity, no cryptocurrency comes close to Solana in speed and fees. Ethereum supports 15 transactions per second and costs so much in gas fees that its founders are redesigning its ecosystem from the ground up.

6. Ripple

Ripple is a controversial cryptocurrency network designed to facilitate transactions between large financial institutions through blockchain. When it came out, XRP was the most promising cryptocurrencies.

Unfortunately, XRP’s hopes of a bright future collapsed in 2018 after he Securities and Exchange Commission (SEC) announced it was investigating Ripple for financial misconducts.

As a result, the XRP coin plummeted in price from a high of $3 to less than $1 in 2022. All the same, Ripple’s troubles with SEC don’t mean you can’t use the coin for casino deposits.

XRP is considerably cheap and fast. As a result, it’s a good way of depositing money to gambling sites when you want to save on time and money.

7. Polkadot

Like many cryptocurrencies, Polkadot launched to solve existing problems in the crypto-sphere. Launched in 2020, Polkadot uses a unique heterogeneous multi-chain framework.

It’s a flexible and fast-growing network supported by online casinos all over the world. Being a top 20 cryptocurrency, Polkadot is also considered a great investment for people who buy crypto for financial gain.

8. Shiba Inu

Shiba Inu is a meme coin based on the Ethereum network. To expound more, it’s a coin whose price grows and depreciates based on hype. A case in point—the county surged by more than 1000% within three months last year for no reason besides hype.

In all fairness, the founders of Shiba have been yearning to turn it into a useful cryptocurrency. They’ve partnered with trading websites, and have plans to launch NFTs on the network.

9. USD Tether (USDT)

Img source: nairametrics.com

USDT is one of the top five biggest cryptocurrencies online. It’s a payment system whose price is tethered to the US dollar. In doing so, its price does not fluctuate as often as Bitcoin or any other cryptocurrency.

Although controversial, USDT is the most preferred stable coin. However, it’s been attracting competition lately from the likes of UST, BUSD and USDC.