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The 5 Most Popular Cryptocurrencies Used in Online Wagers

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Gambling is big business. Whether you’re doing it for fun or trying to make a living out of it, online Bitcoin casinos present a plethora of opportunities. With the advent of new technology and an ever-changing financial landscape, some bettors are turning to cryptocurrencies for their wagers. Which ones should you consider using for your next online casino experience?

Bitcoin (BTC)

Whether or not you got on the Bitcoin hype train or not, the majority of people today have at least heard of Bitcoin given its enormity. These days the primary cryptocurrency is widely accepted in online casinos even if it's subject to maximum and minimum amounts.

Much like all cryptocurrencies, this is decentralized finance meaning that nobody needs to know how much you’re spending and/or earning. It’s this uber level of privacy that has made options like Bitcoin so popular as people become more and more wary of prying eyes and bots trying to obtain personal and financial information.

As the overall market leader, Bitcoin enjoys vast availability as the primary crypto source. The currency still holds a very reputable value (even if it has dwindled overall) compared to other cryptos so sites don’t always want you to deposit too much or take too much out at one time.

Although other cryptocurrencies are available, Bitcoin has always been seen as the most popular form and that's what coined the term "Bitcoin Casino". These USA Bitcoin casinos are seen as the market leaders and offer you the best starting point if you're looking to place a wager with crypto.

Ethereum (ETH)

Ethereum users can typically enjoy instant (or at least very fast) payments with online casinos whether it’s putting money in or taking it out. Widely seen as the second-most popular cryptocurrency, this coin has built its popularity on relatively low fees (or none) for transactions. As Bitcoin enters the mainstream Ethereum doesn’t yet have any kind of laggard tax, meaning it is still relatively cheap to execute transactions with it.

For those concerned with security risks, ETH is potentially the best option as all data concerning transactions and other activity is encrypted away leaving no paper trails. While online casinos might not accept Ethereum as widely as Bitcoin, it is still available for gambling across multiple sites.

Ethereum has also been praised for its ease of access with most new users being able to start trading with this currency in around 15 minutes of starting the signup process.

Bitcoin Cash (BCH)

Bitcoin Cash can be described as a side-project or a splinter cell of the original Bitcoin (originally intended to be speedier by offsetting traffic) and has some interesting attributes making it appealing to online casinos and their users. Firstly, the branding brings the Bitcoin image yet not the price tag.

The price might be a sticking point as BCH has been known to be a little volatile in the marketplace. However, this has led to multiple incentives as an emerging cryptocurrency. Online casinos are only too happy to accept BCH and often hand out lucrative bonuses to those playing with this specific cryptocurrency.

Litecoin (LTC)

While Litecoin might still be on a downward trend since November 2021, the more recent forecasts and charts have been positive with May 2022 to May 2023 showing some growth overall. Other benefits include great security, privacy, and efficiency in transactions. While transactions usually say they’ll take a few minutes, Litecoin usually completes them within a few seconds – making it very popular with users who want to move money around quickly.

The relatively strong economy of Litecoin does make it a little less desirable for online casino operators to offer as they don’t want to pay out too much of a currency that will only get more valuable in time. In addition, the setup can be a little long-winded and not the easiest for new users to the crypto world.

Dogecoin (DOGE)

If you’re looking for a thousand thrills per minute then Doegecoin might be the crypto of choice for you. Seemingly revived by Elon Musk in late 2022 (and his business dealings in buying Twitter), DOGE came back to life after nearly 10 years of stagnation and inactivity.

As it’s a real live cryptocurrency with an incredibly volatile price, virtually every online casino will incentivize you to use DOGE with them. Of course, it works both ways as users can win in this currency and end up with a particularly lucrative investment.

One pointer to be aware of with Dogecoin however is that the protocols and technology have been noted as a little outdated with the last major re-work coming back in 2015. Remember, the currency was dormant for so long that there was no need to maintain it. Should it continue to be relevant, there’s no doubt that the developers will update it, just be patient. Despite the tech datedness, it’s still a safe, secure, and fast cryptocurrency to gamble with.