Here are my top 10 most popular cryptocurrencies used in online gambling, along with some of the casinos that accept them, their typical withdrawal times, and an interesting fact about each.
1. Bitcoin (BTC)
- Casinos: Bitstarz, 7Bit Casino, FortuneJack
- Withdrawal Time: Typically within 1-3 hours
- Interesting Fact: The first-ever Bitcoin transaction was for two pizzas, which cost 10,000 BTC in 2010.
2. Ethereum (ETH)
- Casinos: Stake.com, 1xBit, Crypto.com Casino
- Withdrawal Time: Typically within 1-3 hours
- Interesting Fact: Ethereum is the native cryptocurrency of the Ethereum blockchain, which is also used for many other decentralized applications beyond online gambling.
3. Tether (USDT)
- Casinos: Ignition Casino, BetOnline, Bovada
- Withdrawal Time: Typically within 1-3 hours
- Interesting Fact: Tether is a stablecoin, meaning its value is pegged to the US dollar. This makes it a popular choice for online gambling as it helps to reduce price volatility.
4. Litecoin (LTC)
- Casinos: mBit Casino, Cloudbet, Betcoin
- Withdrawal Time: Typically within 1-3 hours
- Interesting Fact: Litecoin was created by Charlie Lee, a former employee of Google.
5. Bitcoin Cash (BCH)
- Casinos: Wild Casino, BetOnline, Bovada
- Withdrawal Time: Typically within 1-3 hours
- Interesting Fact: Bitcoin Cash was created as a fork of Bitcoin in 2017, with the goal of increasing transaction speed and scalability.
6. Dogecoin (DOGE)
- Casinos: Slots.lv, BetOnline, Bovada
- Withdrawal Time: Typically within 1-3 hours
- Interesting Fact: Dogecoin was originally created as a joke but has since become a popular cryptocurrency with a dedicated community.
7. Ripple (XRP)
- Casinos: Betfair, 888 Casino, Unibet
- Withdrawal Time: Typically within 1-3 hours
- Interesting Fact: Ripple’s XRP cryptocurrency is designed for fast and efficient cross-border payments. It is often used by banks and financial institutions.
8. Binance Coin (BNB)
- Casinos: Binance Casino, 1xBit, Crypto.com Casino
- Withdrawal Time: Typically within 1-3 hours
- Interesting Fact: Binance Coin is the native cryptocurrency of the Binance exchange, one of the largest cryptocurrency exchanges in the world.
People use cryptocurrencies in online casinos for several reasons:
- Anonymity: Cryptocurrencies offer a higher level of privacy compared to traditional payment methods. This is particularly appealing to players who value their anonymity and want to avoid sharing personal financial information.
- Speed and Efficiency: Transactions using cryptocurrencies are often faster and more efficient than traditional banking methods. This means players can deposit and withdraw funds quickly, reducing waiting times.
The withdrawal could be processed within minutes or hours, depending on network congestion. - Lower Fees: Transaction fees associated with cryptocurrencies are generally lower than those charged by traditional payment providers. This can result in significant cost savings for players, especially for high-stakes gamblers.
For example, a player who deposits $10,000 using a credit card might incur fees of $200-$500. Using a cryptocurrency like Bitcoin, the fees could be as low as $10 or less. - Global Accessibility: Cryptocurrencies are not tied to a specific country or currency, making them accessible to players from around the world. This can be particularly beneficial for players in regions with limited access to traditional banking services.
- Innovation: Some online casinos offer unique features and bonuses when using cryptocurrencies, such as exclusive games or higher cashback rewards.
Overall, the combination of privacy, speed, lower fees, and global accessibility makes cryptocurrencies an attractive option for many online casino players.
