What crypto tokens can you use at crypto casinos?

Bitcoin casinos and crypto casinos, in general, have really taken off in the last few years. As more and more people have become crypto holders, people are naturally looking for ways to maximise their crypto portfolio, and crypto gambling is one option that gives people this chance.

The first crypto casinos were very much focused on Bitcoin. Bitcoin has enjoyed mixed fortunes over the last year, dropping around a third of its value in the previous few months. However, Bitcoin is still the world’s most valuable and dominant cryptocurrency. 

But new crypto casinos offer players way more than just deposits and withdrawals in Bitcoin. The biggest sites offer dozens of tokens you can use to play thousands of online casino games, including slots, table games, live casino, and crypto game favourites like Plinko, Crash, and Dice. 

Here we look at five alternatives to Bitcoin gambling. 

Tether Gambling

The world’s biggest stablecoin isn’t without its controversies, but it remains the most widely traded crypto asset, with daily volumes regularly exceeding $50 billion.

The main attraction of playing at casinos with Tether is that it’s an easy coin to manage. One USDT is worth $1, so you know exactly how much that deposit is worth every time you make a deposit.

By comparison, 1 BTC is currently worth around $21,500 as of August 23, but that number can and does fluctuate by 10-30% weekly, sometimes even more. 

As a volatile currency, it’s not particularly well-suited to online gambling. Just imagine you are depositing 0.002 BTC and wagering 0.00005 every spin. It’s very easy to lose track of how much you are wagering, and that’s without taking into account trading fluctuations. 

But gambling with Tether makes the process as simple as gambling with dollars – a fixed currency that doesn’t fluctuate.

Bitcoin Cash Casinos

Another very popular token at crypto casinos is Bitcoin Cash. Its main benefit is its extremely low fees and speed. It’s cheaper and faster than its bigger brother Bitcoin and is widely accepted at top sites like Stake, Cloudbet, and BitStarz.

The average BCH transfer fee is as low as $0.0080 and often free at most big sites, far cheaper than Bitcoin and Ethereum, whose gas fees frequently cost a small fortune. Transfers are close to instant, meaning you get your account credited faster and your winnings back quicker than using other networks that often get overloaded.

One BCH is worth around $130, so again this is a more manageable coin for depositing and betting than BTC or ETH.

It does suffer from price fluctuations, like most crypto tokens, but it’s likely to be a fixture of crypto casinos for many years to come.

Ripple Casinos

Another controversial token in the crypto world, Ripple or XRP, nonetheless is accepted by most top crypto casinos.

There are several reasons it’s popular with players and crypto casinos alike. Most casinos don’t charge for Ripple withdrawals. It’s one of the few coins that doesn’t incur fees.

It’s also extremely fast because of its excellent network. The Ripple network is used by major financial institutions like American Express, Santander, and Bank of America. It’s perhaps the most robust major crypto network in existence.

XRP doesn’t trade for much – around $0.30 currently – but that makes it a good option for low-staking players or those who want to try out crypto casinos. Small deposits are welcome. Most major Ripple casinos have minimum deposits of around 40 XRP.

And because some fiat providers accept Ripple, it provides a different way to play at crypto casinos. Crypto casinos that take the likes of Skrill and Neteller give players an alternative way to play without making payments via the normal crypto channels.

USD Coin Casinos

The main rival to Tether in the stablecoin world, USD Coin is a more transparent token than USDT.

It’s regularly audited by Grant Thornton, a leading global accounting firm, to ensure that the company does have enough cash and bonds reserves to cover every USDC in circulation.

Much like Tether, its benefits are easy coin management – one USDC is one dollar etc.

Withdrawals are also cheaper than other leading tokens, especially if you use the Binance Smart Chain blockchain, which decreases the fees to less than a dollar for most transactions.

USD Coin casinos like Trust Dice and Cloudbet don’t have deposit or withdrawal limits on USD Coin transfers.

Tron Casinos

Tron casinos are growing in popularity as TRX is one of the fastest-growing tokens in the crypto world, hovering around the 16th most valuable crypto token with a market value of over $6 billion.

Some of the biggest names in crypto gambling offer TRX gambling, and for good reason. Like Ripple, it’s an easy coin to manage, with a worth of around $0.60 per token. Small amounts are accepted, perfect if you want to try a casino before making a bigger deposit.

It’s fast and low cost to make transfers. Withdrawals at Stake in TRX cost just $0.05, and the minimum deposit is only 400 TRX.

We can see Tron becoming more widely accepted in the next year as more and more people buy this versatile token.

Conclusion

While Bitcoin and Ethereum remain the dominant players in the crypto casino world, several tokens are better suited to online gambling, offering a faster and cheaper way for players to make deposits and withdrawals. 

So don’t be put off if you think that crypto casinos are all about Bitcoin – the industry is more versatile than ever. Some leading crypto casinos offer more than 50 tokens to deposit and play in. As always, gamble responsibly. Good luck!

You may be interested in: What’s the deal with Ripple?

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By: David Jones
Title: What crypto tokens can you use at crypto casinos?
Sourced From: marketbusinessnews.com/what-crypto-tokens-can-you-use-at-crypto-casinos/308588/
Published Date: Thu, 01 Sep 2022 20:57:41 +0000