The Most Widely Accepted Cryptocurrencies for Crypto Casino Gaming in 2023: A Top 3 List
Cryptocurrencies are redefining the way that we buy goods and services online and they have also proven to be shrewd forms of investment. But while many people speculate on the price of Bitcoin, growing numbers of gamers are now using crypto coins for playing casino games online at crypto casino sites.
So, what are crypto casinos?
They are online casinos that allow you to play using cryptocurrencies aside from traditional payment methods and currencies. To better understand how they work, it is advisable to read some online guides about crypto casino, in order to choose the best one according to your needs. Because not all the crypto casinos accept all cryptocurrencies. So, let’s have a look at the most accepted cryptocurrencies in online casinos in 2023.
Top 3 Cryptocurrencies for Crypto Casino Gaming in 2023
Bitcoin – Used at all crypto casino sites
Bitcoin (BTC) is the original cryptocurrency that kicked off the whole crypto revolution. It is featured at almost all crypto casino sites and this makes it a good all-rounder for anyone who wants to fund their casino gaming in a way that won’t limit the choice of games that they play.
Like many cryptocurrencies, Bitcoin’s reputation has been hit hard by factors such as numerous scams as well as their inherent volatility. However, such is the appeal of being able to make secure, fast, and anonymous payments across borders, that Bitcoin is unlikely to lose any of its popularity.
Many crypto casino sites will let players make Bitcoin deposits and then use the cryptocurrency directly as their stakes for playing anything from slots to table games like roulette, blackjack, and baccarat. The big benefit of this is that most Bitcoin payments will be processed within 10 minutes and these payments can be carried out with no oversight from any kind of government institution.
Ethereum – A big hit in the crypto-gambling realm
Ethereum is the name given to the blockchain network that includes the Ether crypto coins (ETH). As the world’s second-largest cryptocurrency, it meant that Ethereum crypto casinos are now commonplace.
This means that gamers can simply sign up to a crypto casino, make a deposit with the Ether coin from their crypto wallet and start playing with the funds added. Any winnings can then be withdrawn back to the wallet in ETH.
This is a similar process as with other cryptos. However, Ethereum’s use of ‘smart contracts’ has meant that blockchain technology has found favor with the burgeoning NFT trend. In addition to this, Ethereum has become the crypto of choice for ‘play to earn’ gaming sites, and so there are expected to be many more crypto casinos that’ll take Ether payments in the future.
Litecoin – Good choice for lower fees and speedier processing times
Litecoin (LTC) was the world’s first alt-coin that was introduced in a bid to make improvements to Bitcoin. While Litecoin has yet to gain as widespread popularity as the original cryptocurrency, it offers numerous advantages over Bitcoin.
Key among these is the fact that Litecoin uses a more sophisticated algorithm than Bitcoin. While Bitcoin uses the SHA-256 algorithm, Litecoin uses an algorithm called Scrypt. This means that blocks are generated up to four times faster than Bitcoin, and this has the knock-on effect of featuring more cost-effective transaction fees.
Such is the speed and efficiency of Litecoin that it is now preferred by many for making online crypto payments, whereas the same people will simply use Bitcoin more as a store of value. While there are fewer Litecoin casinos in existence, the vast majority of crypto casino sites will still happily accept payments made with the original alt-coin.