Popular cryptos used in casinos

[Maniés]

The days of real money being the only way to pay cassinos are long gone. The future has arrived and so did crypto to the major part of online cassinos.

• What is crypto? 

Cryptocurrency is a digital payment system that does not rely on banks to verify transactions. It is a peer-to-peer system that allows anyone to send and receive payments anywhere.

Cryptocurrency payments are not physical currencies that are carried around and exchanged in the real world, but exist as digital entries in an online database that describe specific transactions. When you transfer cryptocurrency funds, the transaction is recorded in a public ledger.

Cryptocurrencies are stored in digital wallets. Cryptocurrency gets its name because it uses encryption to verify transactions. This means high-level coding involves storing and transferring encrypted data between wallets and public ledgers. The goal of encryption is to provide security and protection.

• What makes a good crypto gambling coin?

After all, what we want when gambling is a fast way to deposit and withdraw our money am i right? So... crypto is a great option to get your transactions up and running way more efficiently. So let's see what makes a good crypto for gambling coin!

 

Fast transactions - Instant transfers while depositing/withdrawing.

Low fees - It's the percentage of money that is taken from you when you make a transaction, so the less the better.

Liquidity -  Your coin needs to be readily convertible to cash! So it has to have some Liquidity

Privacy - Not mandatory, but most people want to spend their money how they want without being judged by others.

User friendly- The blockchain is extraordinary, but the only thing gamblers need is practicality.

[Maniés]

BTC

Bitcoin is a digital Cryptocurrency which operates on a peer-to-peer software and cryptography and came into existence on October 31, 2008.

Is the number one coin all over the world and the most valuable one too, with an incredible value of 30k per coin!! The creator or creators of the coin are still a mystery, hiding under the pseudonym "Satoshi Nakamoto", guess we might never know who really invented this beauty.

Almost every online gambling site accepts bitcoin payments, even those that are not pure crypto casinos. Its transactions are fast, cheap and as user-friendly. Also, almost everyone wants to buy it because it is the face of the entire crypto community, so liquidity will never be an issue with this coin.

Bitcoin is one of the safest cryptocurrencies to hold long-term since is about as stable as a cryptocurrency can get.

• Pros and cons

[Maniés]

ETH

Ethereum is the second most popular cryptocurrency behind Bitcoin. It has a network of it's own but since many people trade coins on it, it's regular to be a bit slow sometimes but is still faster than bitcoin. Ethereum was created in 2013 by programmer Vitalik Buterin. In 2014, development work started and crowdfunding took place, and it went live on July 30, 2015. Developers can use Ethereum to run decentralized applications (dApps) and issue new crypto assets, known as Ethereum tokens. Their fees are kinda high for simple transfers.

Ethereum is now the 2nd highest coin on the market with a price of 1,900$ per coin. Eth is as well accepted in the majority of online casinos

• Pros and Cons

 

[Maniés]

BCH

Bitcoin Cash is a cryptocurrency created in August 30, 2017 from a fork of Bitcoin.

Bitcoin Cash has an increased block size, allowing more transactions to be processed and improving scalability.

The cryptocurrency forked again in November 2018 and split into Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision). Bitcoin Cash is called Bitcoin Cash because it uses the original Bitcoin Cash client. 

At a time when Bitcoin Cash was proposed to increase the block size to 8MB to 32MB, the average number of transactions per block on Bitcoin was between 1,000 and 1,500. The number of transactions on Bitcoin Cash’s blockchain during a stress test in Sep. 2018 surged to 25,000 per block.

In terms of utility, it is widely accepted by many online casinos. Not as much as Bitcoin but it’s definitely up there. Each coin is now at a price of 180$

• Pros and cons

 

 

[Maniés]

Doge

Dogecoin is a cryptocurrency created in December 6, 2013.

Dogecoin (DOGE) is a peer-to-peer, open-source cryptocurrency. It is considered an altcoin and a meme coin. Launched in December 2013, Dogecoin has the image of a Shiba Inu dog as its logo.

While it was created seemingly as a joke, Dogecoin's blockchain still has merit. Its underlying technology is derived from Litecoin. Notable features of Dogecoin, which uses a scrypt algorithm, are its low price and unlimited supply. The large exposure from celebrities and insane volatility is what attracted many people, especially gamblers. Numerous casinos now support the coin but it is not always a guarantee. Each coin is now at a price of 0,8$

• Pros and cons

[Maniés]

Litecoin

Litecoin (LTC) is one of the first altcoins, created in 2011 by Charlie Lee.

Litecoin is similar to Bitcoin on many ways, but has some fundamental differences. For example:

• A “proof of work” that uses the scrypt hash function rather than the SHA-256.
• Is four times faster creating blocks with an average interval of 2.5 minutes instead of 10 minutes.
• An increase of 4x in the total number of units, from 21 million to 84 million.
• A mining difficulty that changes every two and a half days instead of every two weeks.

 

• Pros and cons

 

Litecoin is therefore a popular cryptocurrency, long since in the top 10 capitalizations, with several billion Euros. Litecoin will certainly continue to be one of the major cryptocurrency on the market.

[ArvindDass]

Nice Information 

[speedy]

Ths is the most populaire crypto 

Btc

Eth

Ltc

Xrp

Trx

Doge

Bch

 

[titchy]

Quote

i think bitcoin is the most populaire crypto

 

[Maniés]

XRP

Ripple is a cryptocurrency created in June, 2012 by three engineers.

In 2011, three engineers: David Schwartz; Jed McCaleb; Arthur Britto. Began developing the XRP Ledger (XRPL). Fascinated by Bitcoin, they set out to create a better version that improved upon its limitations, with the goal of creating a digital asset that was more sustainable and built specifically for payments.

By June 2012, the three engineers had finished the code development, lauching its Native Currency, XRP, making the ledger complete. Gifting right away 80% of the XRP to a new company that set out to build use cases for the digital asset called OpenCoin.

In 2013 the Opencoin company got rebranded to Ripple Labs by company leaders after the community started to refer to the digital asset as XRP and it has been shortened over time to “Ripple”.

Finnaly in Sep 24, 2020 they founded the XRPL Foundation that's an independent and nonprofit entity with a mission to accelerate the development and adoption of the decentralized XRP Ledger.

• Pros and cons

[Maniés]

TRX

TRON is a decentralized, open-source blockchain-based operating system with smart contract functionality, proof-of-stake principles as its consensus algorithm and a cryptocurrency native to the system, known as Tronix (TRX).

 

TRON was founded by Justin Sun in 2017 and adopts a 3-layer architecture divided into storage layer; core layer; application layer. The TRON protocol adheres to Google protocol buffers, which intrinsically supports multi-language extension and it's maintained primarily by the TRON Foundation, distributes computing resources equally among TRX holders with internal pricing mechanisms such as bandwidth and energy.

TRON provides a decentralized virtual machine, which can execute a program using an international network of public nodes. The network has zero transaction fees and conducts approximately 2,000 transactions per second!!

• Pros and cons