Bitcoin is making headlines for a long time because of the erratic price shifts. Furthermore, people who are into gambling prefer digital currency. Why? Because it all stays in the digital sector. Furthermore, you can exchange it for real-world money whenever you want. But Bitcoin is not only the digital currency but there are several more.
playamo.com is one of the best online casinos where you can use both cryptocurrencies and real money. So whether you have bitcoins or any other digital currency and you want to play slots visit playamo.com.
You will get various games and different payment methods. But the advantage of using cryptocurrency is that you will have secure online transactions. So can you use any of the known digital currency for gambling or are there some good ones?
Of course, there are certain cryptocurrencies that are better to use for gambling. So here is a list of the best cryptocurrencies for gambling.
Bitcoin
In 2008 Bitcoin.org domain was registered and the name was created. But it gains some recognition after the paper published by Satoshi Nakamoto by the title “Bitcoin: A Peer-to-peer Electronic Cash System”. Afterward, in January 2009, Bitcoin software as an open-source code was released. Eventually, Nakamoto created the Ist block of this chain and named it “genesis block”.
After the release of Bitcoin, the economic environment of the world started to change. Consequently, bitcoin started to gain recognition. Now bitcoin is the most commonly used cryptocurrency.
Pros
- It is the most widely used and known cryptocurrency around the globe.
- You can easily find some Bitcoin-specific sites for gambling. Therefore, it is the most suitable cryptocurrency for gambling.
- It is not possible for Bitcoin to disappear suddenly. Why? Because it is already too much popular. Therefore, it is also highly unlikely that you will encounter any fraud.
Dash (Xcoin)
Xcoin is another cryptocurrency that came into the market on 18th January 2014. Later the company changed the name to DarkCoin, which was then again rebranded to “Dash”.
With the rebranding, the digital currency did amazing business. According to the reports, Dash did a business of around 1.9 million coins in its first 48 hours.
Pros
- Dash is ideal for gamblers because of its quick deposit and transaction time.
- It is highly user-friendly, even for ordinary members.
Litecoin
Litecoin is a peer-to-peer cryptocurrency. It came into the digital world on 7th October 2011. Litecoin is quite similar to Bitcoin in various aspects, the template design was similar and the entire structure too. Furthermore, in a period of just 2 years, Litecoin reached a market capitalization of $1 billion.
In addition to this, Litecoin is also the digital currency that adopted the Segregated Witness. And it was the very first digital currency that adopted it and it was done to deal with the problem of malleability.
Pros
- This is almost similar to Bitcoin in most of its features but its mining is quite simple.
- The possibility of its sudden disappearance is also quite low. Because the brain behind Litecoin is one of Google’s former employees.
Ripple
Ripple came into the digital world in 2012. Furthermore, it was constructed on the Native Cryptocurrency with the name of XRP and DOSIP (distributed open-source internet protocol). The developmental phase of Ripple goes back to 2004.
Therefore, it can also be said as one of the oldest developed cryptocurrencies. RipplePay.com was developed by Ryan Fugger. Initially, it was developed and designed to use for their own community. But afterward, Ryan passed the project leadership to Jed McCaleb and Chris Larsen. They created a new system and worked on the new idea. Consequently, they created “OpenCoin”.
Afterward, they changed the company name to “RippleLabs”, which was invested by Google ventures and Andreessen Horowitz. Despite all the changes, the main idea behind this currency is still the one that was proposed by Fugger.
Pros
- The investment in Ripple organization is Google Ventures and Standard Chartered bank. Therefore, you can confidently make a sound investment.
- The system of Ripple is quite similar to the banking institutions. But it is far away from the financial institutions. Therefore, it is quite anonymous and secure.
Note: Although Ripple has a sound investment plan but it is actually centralized. Therefore, because of its private nature, this network has a relatively unexpected shelf life. That is why it is not sure how long will it survive in this competitive market.
Ethereum
Among all the above mentioned digital currencies, Ethereum is the one that came late into the market. The release date of Ethereum was 30th July 2015. Like some other currencies, Ethereum also followed the original design of Bitcoin (by Nakamoto).
In 2013, the first proposal of cryptocurrency came. Afterward, the project continued and they received crowd sale funding in August 2014.
At the time when Ethereum came to the market, it has 11.9 million coins in circulation. Furthermore, the total circulating coins of Ethereum were around 13 percent at that time.
Pros
- If you are planning for a long-term investment, Ethereum is the best cryptocurrency for this. It has a sustainable market future. Furthermore, the design of its structure is made to execute the coins perfectly.
- The gambling transactions through Ethereum will remain valid for a much longer time.
- It is one of the best cryptocurrency for gambling because of its minimum house take-on bets. This happens because of its close links to the Edgeless gambling tokens.
Final Words
In terms of online gambling, all of the cryptocurrencies have their plus points. But at the same time, they have some lacking things too. Therefore, most beginners will move towards Bitcoin because of its enormous popularity. Furthermore, Bitcoin-based casinos are also quite popular and on the rise.
So if you want to choose the best digital currency to make your investment in the gambling site, it is better to dig more. According to our analysis, the best digital currency to invest in at this moment is Ethereum. And it will have a long-term benefit.
