Cryptocurrency has been rising in popularity and if you are thinking about gambling with crypto you’ll want to know which one is the best. Cryptocurrency is a digital asset that can be used for a number of different financial transactions. While Bitcoin is the most well-known since it was the first one to hit the scenes in 2009, it’s not necessarily the best one to use for gambling. There are more than 1,300 different cryptocurrencies in circulation now and you have choices when it comes to gambling. More and more casinos are accepting various cryptos including Bitcoin and many others.
The Best Crypto for Gambling
In terms of online gambling, all of the available cryptocurrencies come with pros and cons. It’s easy to see that more and more casinos are readily accepting Bitcoin and this may be due to its popularity as a digital currency. You won’t have a problem finding a casino that accepts this crypto so in terms of choice, Bitcoin is your best bet.
This does not make it the best overall, however, since while it may be the most convenient one to use right now for gambling it’s not the wave of the future. In fact, if you are going to be gambling with a cryptocurrency, it’s best to take a look at Ethereum. This is due to the introduction of the Edgeless Casino, which is the first Ethereum casino that is legally compliant with unique features.
Let’s now take a look at the most popular cryptos used in the world of online gambling, which include:
- Ethereum
- Bitcoin
- Litecoin
This will help explain more about your choices and why Ethereum has become one of the best overall currencies to use for this purpose.
Ethereum for Gambling
The Edgeless Casino uses EDG exclusively, which is a gaming currency branded by this casino. EDG appears near the top of the Ethereum blockchain and there is a limited amount of the currency available. You can use the EDG token to fund your bankroll at the Edgeless Casino and to take advantage of all of the unique, exciting features offered there.
Ethers must have a code executed on the Ethereum platform meaning that the currency itself has more long-term potential and is more sustainable when compared to other cryptos. This means that your gambling transactions using Ethereum have a much better chance of remaining valid in the future. As well, the Edgeless Casino gambling tokens are revolutionizing the online gambling industry by storm since they lower the casino’s home take on the bets being made.
Bitcoin for Gambling
Bitcoin remains extremely popular and in terms of crypto current it is the most widely accepted worldwide. There are even online casino that deal exclusively with this crypto. This currency is going to be around for years to come and since it has such a large community, there are people available that can answer your questions if you happen to run into any issues.
There are big transaction fees associated with this currency, however, since it is so much in demand. It can take more than 10 minutes for block mining to occur and this means that miners can prioritize higher fees. Every time you want to deposit funds into the casino, you’ll run into this problem.
Bitcoin has a much higher market value than it did years ago. If you are currently holding onto Bitcoin you may not want to risk losing it since it will cost a lot to replace it. In 2011 the market value was sitting at $30 but now the price has risen to $6000. This means that gambling with Bitcoin has become extremely risky and if you don’t already own Bitcoin it’s going to be very expensive to gamble with the currency.
Litecoin
This is a better option to use for online gambling than Bitcoin but it still isn’t as good as Ethereum. Litecoin is very similar to Bitcoin but with a few modifications and less transaction fees. It’s easier to mine so there is not as large a charge associated with Litecoin. It cost less and is faster and easier to transfer funds frequently between your accounts. It’s also expected that this crypto currency will have excellent staying power since it was created by a former employee at Google.
Litecoin is definitely a viable option to use for your gambling but you won’t be able to use it at the Edgeless Casino and you won’t find as many casinos that accepted it as Bitcoin. You can consider this crypto to be a middle-of-the-road gambling currency option that you may want to explore – especially if you already have Litecoin in your possession.
Ethereum Casinos
While we have discussed the Edgeless Casino in terms of gambling with Ethereum, it’s also important to point out that there are many other casinos that accept this cryptocurrency to fund an account. You can shop around for the best gaming site that would work for you.
Since there are so many gambling casinos that do accept Ethereum, take the time to shop around for one you like. According to CasinoRobots you should look at the software used in the games, promotional offers and the bonuses that are available. Be certain that the layout is user-friendly and that the color patterns aren’t too hard on your eyes. Make sure that registration is easy and that the sign-up process is straightforward.
You should not be asked to disclose any of your personal information and certainly not any bank details when using this cryptocurrency to fund your account. This is the best way to gamble anonymously and many people across the world are now using crypto instead of regular cash for gambling for this very reason.
You do have choices when it comes to choosing an online gambling site that accepts cryptocurrencies. There are many other cryptos accepted at gambling casinos on the Internet so you are definitely not limited by choice. You can definitely spend some time shopping around and exploring other cryptos for gambling or you can just hop on board right now and find out more about using Ethereum as a currency.
