A good part of the benefits that crypto betting has to offer stem from the cryptocurrency used for placing bets. Bitcoin betting advantages like faster transaction times, wider transaction limits, and game variety are all dependent on the cryptocurrency.
So, if you’re placing wagers using a slow cryptocurrency, you shouldn’t expect fast transaction speeds. Naturally, you shouldn’t expect a wide game variety from crypto betting sites that are built for less-popular coins.
Hence, it’s only when you use the best betting cryptocurrencies that you can enjoy the full benefits of Bitcoin betting platforms. This article is a compilation of the top cryptocurrencies that you should use for crypto betting activities.
6 Best Cryptocurrencies for Crypto Betting
The top cryptocurrencies for Bitcoin betting are those that offer sufficient popularity, fast transaction times, and low transaction rates. With sufficient popularity, it won’t be hard to find reliable casinos that accept them for wagers.
Fortunately, there are quite a few digital coins that fulfil these criteria, and some of them will be provided below:
In terms of popularity, there’s none more deserving of first place on this list than Bitcoin. The popularity of this digital coin makes it easy to find crypto betting sites that accept it for wagers. This high acceptance rate makes it easy to find staking platforms that allow bettors to place wagers in Bitcoin.
Mining BTC was only easy during the early stages of its growth. Now, mining requires mining rigs that are only affordable to huge corporations and other entities. So, the only way to acquire Bitcoin for Bitcoin betting is by purchasing the coin.
For now, the value of BTC hovers around $16,000, which is a huge amount for most bettors. So, while this digital coin is one of the best crypto betting platforms, not every punter can afford it.
When it comes to popularity and worldwide acceptance, Ethereum is a close second to Bitcoin. This digital coin was developed a few years after the first cryptocurrency, to make up for some of its inefficiencies. So, you’ll notice that its transactions are much faster, with cheaper transaction rates.
However, the popularity of ETH can sometimes work against it, since the blockchain can become congested during peak hours. Nonetheless, Ethereum is switching from a proof-of-work to a proof-of-stake concept, which aims to minimise such issues. It’s also cheaper to get ETH for Bitcoin betting since they cost much less than Bitcoin.
Bitcoin Cash (BCD)
If you can’t afford Bitcoin, but still desire its worldwide acceptance, then this is the next best thing. Bitcoin Cash is a digital coin that was developed from a hard fork of the Bitcoin blockchain.
It’s a coin that arose as a result of the Bitcoin platform’s split. This split led to the creation of two digital coins, the original Bitcoin and Bitcoin Cash.
The reason for this split was that some users of Bitcoin wanted to make changes to the blockchain. They wanted to increase the size of the blocks within the blockchain, to allow for more transactions to occur. Doing this will address some of the issues with Bitcoin, leading to faster transaction speeds and lower transaction rates.
Unfortunately, not everyone agreed to this, leading to the creation of this spin-off altcoin. So, BCH offers fast transaction speeds and lower transaction rates than BTC; it’s also much cheaper to acquire.
Unlike the other digital coins on this list, Tether is a stablecoin, which means that its value hardly changes. So, if you use this virtual coin on crypto betting sites, you won’t need to worry about its value dropping. This makes it perfect for bettors that desire the versatility of cryptocurrency but fear its instability.
Tether is a cryptocurrency that’s pegged or hitched to the United States Dollar (USD). As a result, its value is usually (directly or approximately) equal to one dollar. As a result, punters can easily obtain this coin for crypto betting sites by exchanging their dollars for it.
However, this coin isn’t fully decentralised, as it’s controlled by one entity, Tether Limited Incorporated. Tether is a stablecoin that’s backed by real USD reserves, unlike algorithmic stablecoins. So, you can rest assured that it won’t be crashing any time soon, like TerraUSD.
Ripple is a real-time payment network that allows for the easy transfer of funds between two parties. Distance isn’t an issue with XRP, as this decentralised platform makes payments almost instantaneous.
So, what does Ripple offer as a crypto-betting digital coin? The answer is simply, speed. If you can’t stand the few minutes that Bitcoin will use to confirm your transactions, then Ripple is your best choice.
Ripple transactions are confirmed within seconds, and with their wide acceptance, they’re a good choice for crypto betting sites. As a blockchain platform that was built to remedy some of the issues of older blockchains, XRP comes with other benefits. Along with easy usage, this coin offers better security features than most cryptocurrencies.
No one knew that a meme coin could become so popular, but Dogecoin is a testament to that. Dogecoin is a community-based digital currency, so it doesn’t have a well-known team behind it. Neither does it serve as a good store of value, since an infinite number of Dogecoins can be created.
Nevertheless, DOGE is a popular virtual coin, and this makes it easy to acquire for crypto betting. While there aren’t many Dogecoin crypto casinos out there, this virtual currency is still accepted at many Bitcoin betting platforms. This is another case where the popularity of the coin works in its favour.
Many crypto wallets also support DOGE, so it’s easy to find where to store this coin for crypto betting. Another major advantage of this cryptocurrency is its price, which is quite cheap compared to others on the list.
Betting with the best cryptocurrencies offers the full benefits of using a Bitcoin betting website. Such coins are easy to acquire, and finding crypto betting sites that accept them is also easy as well. So, you can choose one of the cryptocurrencies above for the best Bitcoin betting experience.