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How to Choose Cryptocurrencies for Online Gambling?

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The increasing crypto transactions have made many online casinos enable the use of cryptocurrency or digital currencies.

You can find many casinos allowing players to join in games like roulette, dice, poker, and even slots by betting with cryptocurrency.

Choose the Right Online Casinos

The sudden rise of cryptocurrency has made online casinos to bring in a number of features. One of them is the provably fair policy which ensures that the games to be played can be verified by the players using a client seed and a server seed. It also has a nonce to verify the randomness and results of the bets. Then there are casinos that allow you to bankroll them for a portion of your wins which means you can invest in the house as well. Finally, you will have the opportunity to place and settle the bets on the network itself with the use of decentralized applications.

Choose the Right Cryptocurrency

To make sure you are in profit in this volatile crypto market, you should give an ample amount of thought while choosing the cryptocurrency you are going to use in the casino. Here are a few cryptocurrencies that are allowed in most casinos.

  1. Bitcoin

It is the most popular cryptocurrency out there. If you are dealing in bitcoins, you will have access to almost all the games online as the casinos have good support for this cryptocurrency. Bitcoins also have the highest payouts but the processing time it takes can really slow you down. There can be times when the network is congested and that is the time when you will be charged a higher network fee.

  1. Ethereum

This blockchain platform enables direct on-the chain gambling. This is made easy using smart contracts. There are many gambling sites that run on Ethereum. The most popular of them all is FCK as it allows players to bet on dice poker, roulette and other games on its network. The bets will incur transaction fee and it will only take a few minutes to settle bets.

  1. Ripple

Ripple is one of the most trusted cryptocurrency that’s available in recent times. It is closest to a bank institution and has investors like Google and Standard Chartered Bank. It is secure and anonymous but it is centralized. It can disappear anytime without notifying anyone. This might leave gamblers short of funds.

  1. Litecoin

Litecoin is just like bitcoin but better. It is a bitcoin modification which incurs a transaction fee. Mining litecoin is simpler and most miners happen to charge very less for this cryptocurrency. If you are a gambler that transfers funds between accounts on a frequent basis, this is for you.

  1. Dash

Dash, as the word signifies pace and quick processing, is another cryptocurrency that allows transactions to get completed within minutes. This is ideal for gamblers who like to make a quick deposit. It has a very user-friendly design that can be understood by an average human being.

Conclusion

Cryptocurrencies have their own advantages and disadvantages, especially when it comes to gambling online. Although you might think Bitcoin is the most popular and safest way to transact in online gambling, we highly recommend you to dig a little deeper since bitcoin is going to be here forever. It is not the future since many better and more secure cryptocurrencies are surfacing in the online world.