| Cryptocurrencies Facts | |
|---|---|
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| Emergence: | 2009 |
| Most important cryptocurrency: | Bitcoin |
| Number of cryptocurrencies: | 1.000+ |
| Best crypto casino: | Bitstarz |
| Best cryptocurrency casino: | Lucky Dreams |
Digital currencies also called cryptocurrency or cryptos for short are gaining more and more importance. Not only in online trading, as a speculation or investment objectbut also in the field of online gambling, as our experts have been noticing more and more lately.
On the one hand, online casinos are accepting cryptocurrencies such as Bitcoin, Ethereum or Litecoin as additional means of payment on the other hand, several pure crypto casinos have emerged in recent years that focus exclusively on digital assets. exclusively on digital assets digital assets. With the topic of crypto casinos we have dealt with intensively in a separate technical article.
However, in order to provide our readers with a holistic overview, we have also tackled the topic of cryptocurrencies itself. In this text.
- We present the most important cryptos
- Analyze advantages and disadvantages
- Dare to make a forecast
- Reveal at which providers the different coins can be used.
Table of contents
- The most important cryptocurrencies incl. list
- The top 5 cryptos
- Other interesting crypto currencies
- Advantages of cryptocurrency for casino customers
- The top 5 gaming sites with cryptocurrencies
- Are there other arguments for crypto payment in online gambling?
- Disadvantages of cryptocurrencies in casino gaming
- Can I withdraw winnings in cryptocurrency locally?
- Conclusion: which cryptocurrency has a future?
The most important cryptocurrencies in 2024 incl. list
Bitcoin, Litecoin and Ethereum are currently the three currencies that have the highest acceptance in the casino industry experience. In particular, providers that accept both coins and fiat money (real money) prefer to focus on exactly these options.
Those who play in a pure crypto casino, on the other hand, can usually look forward to a significantly larger selection. This fact is especially convenient for those who are freshly entering the topic of blockchain and who prefer to buy coins that are currently still have a very manageable value.
Interesting Fact: Tether is commonly referred to as a "stable coin". For years, the value has always been around 1 euro. Thus, the cryptocurrency is especially recommended for investors and casino players who want to want to avoid strong price fluctuations want to.
| The top cryptocurrencies (as of 09 January 2024) | ||||||
|---|---|---|---|---|---|---|
| Name | Abbr. | Founder | Market volume | Market share | ||
| Bitcoin | BTC | Satoshi Nakamoto | 493.16 billion | |||
| Litecoin | LTC | Charlie Lee | 6.13 billion | |||
| Ethereum | ETH | Vitalik Buterin | 211.03 billion | |||
| Bitcoin Cash | BCH | Roger Ver | 2.05 billion | |||
| Ripple | XRP | Brad Garlinghouse | 24.58 billion | |||
| Tron | TRX | Tron Foundation | 6.38 billion | |||
| EOS | EOS | Brendan Blumer | 909.19 million | |||
| Tether | USDT | Brook Piece, Reeve Colins | 77.96 billion | |||
| Dogecoin | DOGE | Billy Markus | 9.36 billion | |||
| Cardano | ADA | Charles Hoskinson | 12.25 billion | |||
| Neo | NEO | Da Hongfei, Erik Zhang | 678.48 million | |||
| Dash | DASH | Evan Duffield | 452.80m | |||
| Stellar | XLM | Jed McCaleb, Joyce Kim | 2.26 billion | |||
| Monero | XMR | Riccardo Spagni, Nicolas von Saberhagen |
2.58 billion | |||
| USD Coin | USDC | CENTRE Consortium | 27.12 billion | |||
| Polkadot | DOT | Gavin James Wood | 5.92 Billion | |||
| Shiba Inu Coin | SHIB | Ryoshi | 4.67 billion | |||
| BNB | BNB | Changpeng Zhao | 44.82 billion | |||
| Solana | SOL | 2019 |
Anatoly Yakovenko | 7.64 billion | ||
| Zcash | ZEC | Zcash Foundation, Electric Coin Company |
502.30 million | |||
| Sandbox Coin | SAND | Arthur Madrid (CEO), Sébastien Borget (COO) |
926.19 million | |||
| Chainlink | LINK | Sergey Nazarov, Steve Ellis | 3.14 billion | |||
| ApeCoin | APE | Yuga Labs (Bored Ape Yacht Club) | 1.07Bn. | |||
| Cronos | CRO | Kris Marszalek, Rafael Melo, Gary Or and Bobby Bao | 1.41Bn. | |||
| Uniswap | UNI | Hayden Adams | 2.74 billion | |||
| Dai | DAI | Maker Foundation / Rune Christensen | 4.51 billion | |||
The top 5 cryptos
Rank 1 – BitcoinBitcoin is something like the forefather of all digital assets. The starting signal for the first cryptocurrency was given in 2009., in whose future at that time, of course, not many believed. Today, the BTC has a equivalent of about 25,000 euros.
Investors benefit from the high level of acceptance, because in addition to wallets, other payment methods are also available for Bitcoin owners – first and foremost MuchBetter.
A disadvantage, however, are the sometimes drastic price fluctuations. The BTC can definitely not be described as a "stable coin". Nevertheless, those who recognized the potential of Bitcoin at an early stage are lucky. Within a few years, he has namely experienced a boom with which no second cryptocurrency can keep up to this day.
2nd place – Litecoin: The former Google employee Charlie Lee came up with the idea to develop Litecoin in 2013. The LTC saw its launch in 2011, and since then it has held its own as a decentralized cryptocurrency stable on the market.
The Litecoin system even had to be expanded significantly six years later, as almost all coins were in circulation at that time. The template for the LTC was the Bitcoin protocol. Today, however, the Litecoin can clearly distinguish itself from this – among other things due to the innovative hash algorithm and the faster blockchain..
Rank 3 – Ethereum: One advantage of ETH is its steadily growing acceptance, which is especially noticeable in the gambling industry. In addition to Bitcoin and Litecoin, the decentralized blockchain based on an open-source blockchain system is being accepted more and more is increasingly being accepted as a means of payment.
Similar to the aforementioned coins, Ethereum is also available on all major exchanges. Currently, the price per ETH is around 1,750 euros (as of June 2024) and thus significantly below bitcoin.
Advantageous: A withdrawal of ETH in euros is not only possible via wallets, but also via the popular payment provider MuchBetter.
Rank 4 – Bitcoin Cash: The BCH is basically nothing more than a fork of the better known Bitcoin, based on a peer-to-peer network. The hard fork took place in 2017.
With Bitcoin Cash, investors benefit from a higher and faster transaction volumewhich in the long term brings clear advantages over the "role model" Bitcoin.
The price is also significantly below the values that BTC has reached in the meantime. This means that BCH is also affordable for investors with low investment volumes. A significant increase in the price is not expected.
Rank 5 – TetherAmong experts, the USDT is often referred to as a stable coin. The reason for this is that for years its market value has been around the 1 USD equivalent for years. for years.
Tether is also eblockchain-based asset, which has been pegged to the US dollar. Thus, the values are almost identical.
Investors benefit from low price fluctuations and thus have a much safer market value. The profit margins from other coins could thus be maintained, as there are no losses to fear with USDT.
Other interesting cryptocurrencies
In the gambling industry, there are now far more cryptocurrencies than just Bitcoin, Litecoin and Ethereum. Among other interesting ones is the Ripple protocol, on which the XRP is based. After all, it holds a market share of 2.30% and a market volume of around 24.5 billion euros. It is thus close behind the stablecoin Tether.
The DOGE Coin is also becoming more and more the DOGE Coin. What began as a joke or parody of bitcoin has quickly become a reliable cryptocurrency. reliable cryptocurrency cryptocurrency. Not even the developers themselves would have expected the rapid growth.
Advantage for investors: At times, the Dogecoin has been No limit set. Similar to LTC, this coin can also be generated without limits. By the way, this is one of the biggest advantages compared to the better known Bitcoin.
PAXG: Paxos Gold, or PAXG for short, is a cryptocurrency that has been linked to physical gold. Through the Swiss crypto exchange Smart Valor, which has listed PAXG, since March 2020, it has been possible to exchange the Coin into gold. Despite numerous crises in the past decades, the gold price has remained stable until today.
In addition, Paxos Gold gives the option to trade the coin as a currency pair with British pounds or even Swiss francs. PAXG, just like the PAX Standard Coin, is based on the script of ERC20-Standard – similar to Ethereum.
PAX: In addition to Paxos Gold, a stablecoin pegged to the value of gold, crypto casinos like Cloudbet offer the PAX Standard Token. This was also developed on an ERC-20 standard basis and is considered a stablecoin, just like its "descendant" PAXG. Its exchange rate is pegged 1:1 to the US Dollar. The best-known alternative of this digital currency is Tether, whose rate is identical.
ChainlinkThe token belonging to Chainlink is called LINK. The coin is a digital currency based on the blockchain. blockchain-basedwhose price is currently (as of June 20213) around 6 euros. What makes LINK special is not only that it is based on Ethereum. Also, the Chainlink service is traded as a "central instance" that "oracles" smart contracts.
USD Coin: The USDC is backed by the U.S. dollar, as is the similar-sounding and nearly identical functioning USDT (Tether). So the short of the dollar and the cryptocurrency are always identical. The developers use Ethereum technology for the creation of new USD Coins.
Dai CoinAnother stablecoin currency in the bunch is called DAI. The digital coin is basically worth 1 US dollar. For investors who do not want to be exposed to constant back and forth and monitor charts, such digital coins offer themselves – and not only in the field of online crypto gaming. The Dai Coin is used, for example, at Cloudbet accepted for payment.
Advantages of cryptocurrency in gambling
The beauty of owning crypto coins is that it is a a digital as well as decentralized currency that has not been linked to the financial market to date. Moreover, Coins are now available on many wallets.
Decentralized cryptocurrencies include Bitcoin, Bitcoin Cash and Ethereum. On the other hand, the situation is a bit different with Tether, which – as noted – is pegged to the US dollar. The U.S. is generally further ahead than Australia in the area of digital assets, with the coins asserting themselves more and more as an alternative to the euro here as well.
Those who don't necessarily want to invest with Bitcoin, Ethereum and other currencies can simply buy and hold them. Registration with providers such as Bitpanda, Binance and Coinbase is also free of charge. The following aspects speak for crypto payments in online casinos:
- Payments are largely anonymous
- Highest security with decentralized wallets (cold wallets).
- Transactions are completed in real time
- There are virtually no transaction fees in the casino
- Protection of personal information during the payment process
- Internet connection is not mandatory
- Funds or coins are often insured
- Accessible to everyone
The top 5 casinos with cryptocurrencies
Are there other arguments for crypto payment in the casino?
In addition to the aforementioned advantages, it is above all the usually higher deposit and withdrawal limits that encourage players to transact with cryptocurrencies. While transactions with real money are increasingly limited – for example, to 1,000 euros per month in casinos with ambitions for an Australian license – cryptocurrency deposits and withdrawals are also limited. Coins offer significantly more flexibility.
Especially with pure crypto casinos it is noticeable that deposits as well as withdrawals with Bitcoin, Ethereum, Litecoin and other coins are even unlimited are. Of course, this only applies to players who have a sufficient number of coins.
Providers with a focus on cryptocurrencies
Amazing fact: Worldwide, more people can access a smartphone or tablet than there are people who have bank access. The potential of cryptocurrencies is correspondingly high – also and especially in countries that do not have such a comprehensive banking network as is common here in Australia. So, cryptos are suitable for all layers without any credit check or the like.
Disadvantages of cryptocurrencies in casino gaming
In fact, there is also a disadvantage, because the Exchange fees (exchange of real money currency into coins) are sometimes quite high. This makes it all the more worthwhile, to compare wallets in advance and set up an account where the costs are manageable. With regard to this issue, Coinbase currently performs best.
The biggest disadvantages at a glance:
- At times, crypto coins are not recognized as a means of payment. Acceptance is highly dependent on how well-known the currency is, both in retail and banking. Thus, a payment with Bitcoin will be much easier than with Tether or DOGE, for example.
- There are few crypto ATMs to be found in this country. The easiest way to get money is therefore via cryptowallets by exchanging it for euros in a bank account or credit card.
- The high degree of anonymity is not always advantageous due to the dangers of cybercrime. Owners of digital currencies are therefore responsible for protecting their coins themselves – for example, with the help of cold wallets (hard drives, USB sticks, etc.).
- The high power consumption and the massive computing power required are rather counterproductive in terms of environmental protection.
Fees are rarely charged by the casinos themselves, whereby these have no influence on costs that arise elsewhere, namely when buying and exchanging the coins.
Another aspectagainst digital assets may be that not all online casinos established in not all online casinos established in Australia accept cryptos. However, today more and more providers in the industry are moving towards this, thus offering customers good alternatives to real money deposits.
Can I withdraw winnings in cryptocurrency locally?
Basically, the withdrawal of digital coins is made to the pre-determined wallet. Through this, an exchange into euros is possible without any problems, and of course a transfer to bank accounts or credit cards at any time. credit cards can be made at any time, so that the credit can also be used locally.
In connection with Bitcoin, we can offer casino players as an "add-on" to the crypto wallet MuchBetter as an "add-on" to the crypto wallet. In fact, with the wallet it is possible to make payments with cryptos on EC devices to make payments with cryptos as the prepaid card of the payment provider is accepted in the same way as a classic bank card. The conversion into euros is done automatically with the digital wallet. Currently, MuchBetter accepts Bitcoin as well as Ethereum and Litecoin..
By the way, if you want to convert a BTC profit into cash, you can do it locally at ATMs after paying to the wallet. So-called crypto ATMs – also Bitcoin ATMs are not yet very widespread in Australia, but the network is growing steadily. However, we have not yet come close to the USA, which has now set up over 2,000 crypto ATMs.
Here's how it works: go to the nearest ATM, have your cell phone ready, and scan the QR code displayed on the machine. The machine will then automatically recognize the personal wallet and allow users to make crypto deposits as well as withdrawals.
Conclusion: Which cryptocurrency has a future?
Probably in 2009, when the first digital currency, Bitcoin, appeared, no one would have believed that cryptocurrencies and blockchain, of all things, would have a future. In the meantime, in addition to the BTC (Bitcoin) numerous other coins are known worldwide and are obviously gaining more and more importance due to the weakening economy.
Blockchain currencies quickly became a boom, but of course not all of the more than 1,000 coins globally the same prospects as bitcoin. At times, Ethereum and Litecoin in particular have been able to assert themselves. Not only investors on the crypto exchange are hoping for them, but certainly also casino operators who see the blockchain as the alternative to fiat money (real money).
Even in the case of Bitcoin Cash, which was split off from Bitcoin and released in 2017, critics disagree. Whether there can actually be two nearly identical currencies that can coexist.
In general, however, it can be stated that the aforementioned cryptocurrencies have solid prospects for the future. not only, but also in the field of online gaming.
In fact, digital currencies are being trialed by more and more industries and tested for their "mass market suitability." The results so far are promising, which is reflected in our particular industry. Stablecoins in particular are predicted to have a positive future – first and foremost the Tether, which is pegged to the US dollar. As a stablecoin, this has inspired Bitbond as well as the banking house von der Heydt to develop a cryptocurrency tied to the euro, called EURB.
The coin, which is to be based on the Stellar blockchain network, is still viewed critically. However, it could be the starting signal for closer cooperation between blockchain and traditional banking.
What the future will bring is difficult to assess today. However, the fact is that not least the gambling industry has paved the way for Blockchain and cryptocurrencies.
Author: Peter McCollinRated: CryptocurrenciesAuthor Rating:
