Crypto gambling is in full swing as players are looking to place anonymous bets and love instant transactions. Compared to traditional finance, Bitcoin and other crypto coins give you a chance to bet on your favorite games without sharing any personal details. You buy coins and store them in a crypto wallet, and you can easily transfer them at a casino without it showing up on your bank account.
Cryptocurrencies are decentralized in nature, so they’re not governed by any financial authority. They’ve opened up a lot of investment opportunities, and give players a sense of freedom they couldn’t achieve before. There’s just one problem – the crypto market is vast, and not all coins are suitable for gaming. We’ll talk more about the best options you can use to make instant deposits and withdrawals at crypto casinos.
Bitcoin
Bitcoin is the king of cryptocurrencies. It’s the original crypto coin and one that’s been around for the longest time. Since its early days, it has established itself as a leader in this market, prompting developers to come up with new cryptocurrency ideas. Even though there are more advanced coins from a technical perspective, Bitcoin’s price volatility is what drives it as a great investment opportunity.
Available at any crypto exchange and casino, Bitcoin’s high price is a draw for most investors and players. You’ll find it positioned at the top of the list of Suomicasino crypto payments, and rightfully so. With Bitcoin, you can make untraceable deposits and withdrawals, and at lightning speeds too. Withdrawal speeds are instant as long as the casino doesn’t delay them, and that’s what players love about it.
Another great thing is the volatility. Well, it’s good and bad, to be honest. In bull markets, you can benefit from sky-rising prices as it goes up. In bearish markets, you can quickly lose value when playing with BTC.
Imagine this – you pick Bitcoin as your go-to crypto at a casino site and deposit a small amount. If the price goes up soon, it’ll be reflected in your current balance. The same thing happens if the price goes down. But, if you’re keeping track of Bitcoin’s volatility and price changes, you should know when it’s up or down. This gives you leverage to earn more and play more, making it one of the most popular picks among crypto casino fans.
Ethereum
Ethereum is the second-largest cryptocurrency by market volume. It’s available at all trusted exchanges, and its price is a bit less volatile than Bitcoin. It’s also less valuable, yet has technical capabilities such as smart contracts that excite both players and operators. Of course, it offers identical functions, so you can use it to place anonymous bets as well.
Tech-savvy players might choose ETH over BTC just because it’s more advanced in that perspective. It’s accepted at nearly all BTC casinos, so it’s a good alternative to have in mind if you’re not a fan of Bitcoin’s extremely volatile price swings. Not that Ethereum doesn’t have them, but due to the lower value, they’re a bit more balanced.
Litecoin
On a technical level, Litecoin is nearly identical to Bitcoin. So, what makes it a popular alternative? Faster speeds and lower transaction fees. The slightly modified Bitcoin base allows for more transactions, although the price is much, much lower.
That doesn’t stop players from using it at crypto casinos. Most Bitcoin casinos usually accept Litecoin as well, so you shouldn’t have trouble using it. The lower transaction fees are another big plus compared to Bitcoin or Ethereum’s high gas fees. Thanks to that and the fast transaction times—especially for withdrawals—makes Litecoin a good option to use at crypto casinos.
Tether
Tether is a stablecoin, which still clarifies it as a cryptocurrency. Compared to Bitcoin or Ethereum, its price is pegged to the US Dollar. This means it’s always set at $1 with slight fluctuations. In essence, with Tether, you’re getting all the advantages of cryptocurrencies without the high price volatility.
With USDT, transactions are much simpler to follow. Granted, you might not make a slight profit like with Bitcoin, but you can easily track your bets. It’s a perfect fit for budget-oriented players. It also fits the needs of crypto fans who aren’t excited about high price volatility.
You can use it for anonymous deposits and withdrawals and benefit from larger transaction limits compared to fiat money options. Many crypto casino sites will also allow you to swap cryptocurrencies, so you can easily take your Bitcoin profit and turn it to USDT to keep track of your bets.
How to Choose the Perfect Cryptocurrency for Gambling?
When choosing cryptocurrencies to use at crypto casinos, you should consider a few factors. First and foremost, you should decide if you want to use Bitcoin or a stablecoin such as Tether. Once again, the difference is in the price volatility. Technically, they’re identical to use at crypto casinos. You need a crypto wallet, but the process of making deposits and withdrawals is the same.
As we mentioned earlier, the difference is the prices. You should decide if you want to benefit from Bitcoin’s extreme volatility or if you prefer something less volatile such as Tether. You should also take a look at each casino’s transaction limits and fees, depending on how much you want to spend.
What’s the Verdict?
If you ask us, the best cryptocurrency to use at crypto casino sites is Tether. USDT offers all the advantages of cryptocurrencies with almost no drawbacks. It’s a great pick for budget-oriented bettors, and we should all play responsibly. You can make a bit of a Bitcoin profit if the price rises, but there’s always the risk of prices going down.
With Tether, the price stays the same – always $1. Set a budget for your betting escapades, and it’s much easier to track your bets. Also, Tether is available at the world’s top cryptocurrency exchanges and crypto wallets. You can store it online or offline, and place bets without worrying if the price goes all the way down.
