Cryptocurrency is a digital currency that has gotten wide attention in online gambling. Many factors contributed to the wide use of cryptocurrencies, particularly their flexibility.
Cryptocurrencies allow users to conduct transactions faster than other payment service providers. And the best part is that it’s secure and doesn’t charge as much in fees.
Still, before you play any crypto casino slots online, you should ensure the operator supports the best cryptocurrencies. Factors such as ease of converting the crypto back to fiat or how volatile the crypto is, amongst other things, determine if a cryptocurrency is the best for use in online slots.
So, in no particular order, here are the ten best cryptocurrencies to consider using to play slots online.
Binance Coin is a coin issued by Binance. Binance is an exchange and trade platform. As such, one of the reasons to use Binance coin is its seamless conversion of currencies.
This crypto runs on the Ethereum blockchain and has a unique burn feature. This burn feature is the main reason why with Binance coin, you will pay a much lower gas fee.
Bitcoin, otherwise known as the gold of cryptocurrency, is one of the most popular cryptocurrencies in the digital currency. Bitcoin has always had a large market cap throughout history, ranging over $500 billion.
This figure shows the dominance of Bitcoin in the space. As such, hardly any crypto online casino doesn’t support Bitcoin as a payment method. Using Bitcoin offers several benefits, including liquidity, availability, and anonymity.
As the name implies, Bitcoin Cash is similar to Bitcoin as it was created due to a hard fork of Bitcoin. As such, Bitcoin Cash shares a lot of technical similarities with Bitcoin. But one significant difference is that Bitcoin Cash can store more data.
Bitcoin has a block size of 1MB, while Bitcoin Cash has a block size of 8 MB. As such, Bitcoin Cash charges less fees compared to Bitcoin while offering the benefits of Bitcoin.
Dash is an altcoin that forks from the Bitcoin protocol. As such, it’s also similar to Bitcoin, in some sense, but more efficient. The coin’s design makes it able to carry out transactions faster.
To put this in better perspective, Bitcoin uses the SHA-256 mining algorithm that takes minutes to confirm transactions, but Dash uses the X11 mining algorithm that takes seconds to complete transactions.
Dogecoin is another excellent crypto to use to play online slots. Although it started as a lighthearted altcoin, it soon became valuable. Based on Litecoin, Dogecoin is a peer-to-peer coin that uses a scrypt algorithm.
Also, its unlimited supply contributed to its impressive reach. And the best part is that Dogecoin is quite affordable compared to other top options.
Ethereum is another widespread cryptocurrency that offers myriads of advantages. Notably, the Ethereum blockchain allows operators to provide NFT and Blockchain games.
Also, Ethereum comes second to Bitcoin in terms of market cap and popularity. As such, liquidating your Ethereum funds is much easier than you think.
Litecoin is another exceptional cryptocurrency, sometimes called the silver to Bitcoin’s gold. Litecoin is also created due to a fork in the Bitcoin blockchain.
Litecoin was created into a minable, peer-to-peer network. And in no time, it gained popularity, particularly for its lighter and faster transaction speed than Bitcoin.
Monero is another cryptocurrency featured on most online casinos because players prefer its impeccable security. Monero designs address anonymity issues faced by gamblers obfuscating observers’ ability to decipher address trading, balances, transaction amounts, or histories.
At the same time, its proof-of-work integrations keep everything transparent and fair.
Ripple is blockchain-based crypto popular at online casinos for its similarity to the SWIFT system. This digital payment system focuses on remittance and payment settlement asset exchange.
As such, it serves as an intermediate between two networks or currencies. Often most online casino operators that accept international players feature Ripple as one of their payment methods.
Another excellent cryptocurrency used at most online casinos to play slots is Tether. It is a stablecoin pegged to the US dollar. As such, it is not subject to volatility like other cryptocurrencies.
However, it’s worth noting that Tether also has tokens pegged to the Euro, Mexican Peso, Gold, and offshore Chinese Yuan. Tether is one of the largest cryptocurrencies in market capitalization, accounting for most of the exchanges out of Bitcoin by value.
In summary, the use of cryptocurrency in the online gambling industry has contributed significantly to its growth. Cryptocurrencies play a pivotal role in breaking the geolocation restrictions of traditional payment systems.
So, if you want to use cryptocurrency to play slot games, ensure you choose the best one so your experience is lucrative.