3 Most Common Cryptocurrencies Accepted by Crypto Casinos

Online casinos are becoming increasingly successful, attracting thousands of players. The reason is quickly stated: playing on this type of platform is not as complicated as it was a few years ago, and the entertainment proposal is very varied and good. Of course, you need to be a gambling enthusiast, but how did these platforms capture the crypto market?
The answer is more straightforward than you might think. Online casinos have long been fighting to provide the best possible service to their users, and this means increasingly competitive bonuses, knowledgeable and helpful customer service, a wide choice of payment methods, and many other features.
This is precisely why gaming platforms are becoming more and more accessible, even going so far as to accept cryptocurrencies. Today, we want to tell you about the three most common cryptos you can find in online casinos.
Crypto in brief
Let’s briefly examine what cryptos are. Cryptocurrencies are digital currencies outside of any state or government control. Bitcoin was the first, back in 2008, which was followed by many others.
Cryptocurrencies, especially the first ones, were born with the advent of blockchains, a kind of digital service chain in which every transaction and transfer is represented by a mathematical calculation to be solved. In exchange for solving these “blocks,” users are rewarded with a certain cryptocurrency belonging to that blockchain.
Cryptos and casinos
Since the first cryptocurrency was created, many others have followed, and this technology has gradually improved and expanded. This has led more and more people to invest in the universe of virtual currencies. That is why today we want to show you which three cryptocurrencies are the most accepted by online casinos.
Bitcoin
The hype around cryptocurrencies started with Bitcoin, which was born as an “alternative means of payment” after the last significant financial crisis in 2008. Previously, rather than smiling, many people lost their laughter when Bitcoin broke the magic barrier of US$20,000 – 10 years later.
However, cryptocurrency serves not only as a means of payment but also as an investment object. In the past, enthusiasts could “mine” the currency, and entire basements were equipped with hardware.
Today, many gamblers prefer playing at the most popular online casino with bitcoin or any other convenient cryptocurrency, instead of real money because of the following unmatched advantages: crypto casinos include 24/7 availability to help customers, they offer more security, a better chance of winning, and also feature higher withdrawal limits than traditional casino games.
ETH
ETH is the cryptocurrency on the Ethereum blockchain, Bitcoin’s biggest competitor, and widely referred to as the second most valuable crypto, $1,600. It is one of the most commonly used and well-known blockchains, and many companies covet its technology.
Lite Coin
With a value of around 60 euros, this cryptocurrency is enjoying considerable success. Born only in 2011, it proves that it is a solid reality that can actively compete with the giants above.
Why are crypto Casinos increasingly benefiting from the new technology?
Direct crypto casinos based on blockchain have existed for quite some time. However, they are instead intended as a gimmick without a profound background. What is striking, however, is that more and more casino elements are also being integrated into computer games.
GTA V is known for the fact that the actor can play a few rounds of slots in the game. The only thing to be won is the internal currency without any equivalent value, but still. However, casinos are guaranteed to operate on a blockchain platform over time, offering their customers a high-level entertainment experience.
The advantage is that the winnings are securely stored in the blockchain (mapped, to be precise). Therefore, untrustworthy providers would have less chance to cheat customers regarding the corresponding winnings.
So, there are great benefits on the surface for gamblers. The upside potential is still huge since the industry is booming in parallel with cryptocurrency games. So far, cryptocurrencies have mainly been used for payment in crypto casinos. Because more and more customers are investing in themselves, it is natural that they want to pay slots, poker, roulette, and blackjack with Bitcoin and other cryptocurrencies.
Privacy is a top priority regarding deposits and withdrawals at cryptocurrency casino providers. When depositing or withdrawing with a credit card, banks can track exactly how much capital their customers invest in casinos.
Cryptocurrencies are independent of banks, so data protection is guaranteed. Particularly in the sensitive gambling industry, where customers place the highest value on discretion and data protection, anonymous cryptocurrencies such as Bitcoin will continue depositing real milestones by enriching the industry with digital payment.
Conclusion: a golden future lies ahead for cryptocurrencies!
Whether it is gambling or casino betting, in the near future, nothing will be possible without Bitcoin and other digital payment systems. The advantages are too significant, primarily the blockchains decentralized structure and fixed value mapping, which cannot be manipulated.
Only the technology still needs to be refined. But Ethereum developers have already succeeded in creating their blockchain for fast payment transactions for the masses. That is why Ethereum is currently a favorite tool when it comes to buying or selling NFTs of any kind.