The crypto universe is growing. Up until 2017, few people heard of cryptocurrency. Those that did only understanding the basics of Bitcoin – the world’s most popular crypto.
However, after the infamous bull run that saw the BTC price reach $20,000, the entire world started paying attention to the crypto space.
Crypto is a popular online payment choice, with many different assets available for trading and making payments. There’s no borders or government control around crypto, making it one of the most affordable ways to transact online.
You get fast payments and a range of options for exchanges and brokers offering trading opportunities. However, what about gambling? Do gaming establishments accept crypto deposits? Can you withdraw your winnings in crypto? The answer is a resounding, yes to both questions.
Which Crypto Do I Use for Online Gaming?
While there are thousands of cryptocurrencies, only a handful of them is suitable for making deposits and withdrawals from online gaming establishments.
Choosing the best cryptocurrency for your gaming activities means you’ll need to do some due diligence into the types of coins accepted by gaming sites.
Fortunately, we decided to do the hard work for you. In this post, we’ll unpack the best cryptocurrency options for your gaming requirements.
What are the Best Crypto Currencies for Online Gaming?
Bitcoin is the world’s most popular cryptocurrency. There are a variety of uses for crypto, from payments to trading. However, no other crypto comes close to BTC in market cap or daily trading volumes. Bitcoin remains the gold-standard of cryptos, and it’s the most popular choice for online gaming.
Bitcoin offers you a global standard for crypto, but it’s actually an outdated system. The tech used in bitcoins development struggles with processing large transaction volumes. At one stage a few years ago, BTC transaction costs were astronomical, with some fees on small transactions costing as much as $90.
However, the recent halving of the BTC blockchain resolved these payment issues. While BTC payment times are faster, it’s still far behind newer cryptos designed for payments, like XRP.
With its initial Coin Offering in 2018, EOS becomes the latest crypto offering smart contract functionality for users. With EOS, users get fast transaction times and no fees. The encrypted network runs on a similar protocol to ETH, providing smart contracts with no third-party intervention.
EOS is one of the safest crypto options, making it a popular choice with gamers. However, there are limited venues accepting EOS due to its newcomer status to the market. However, those venues accepting EOS offer fast deposits and withdrawal from your account.
Registering with an Ethereum casino is a great way to benefit from this crypto’s “Smart Contract” functionality. ETH is a specialist cryptocurrency with more versatility than BTC. It’s currently the second-most popular crypto choice online after bitcoin, and its user base is growing.
Ethereum is similar to the EOS, utilizing smart contracts to create additional functionality for users. This functionality increases the safety and security of using ETH, ensuring no third-party steps into the transaction.
Most people know about the cheeky mascot symbol for Dogecoin. It features a smiling Shiba Inu dog, and it’s gained a reputation as one of the best online cryptos for payments. In the early days of Dogecoin, only enthusiasts had any interest in the crypto asset.
However, over recent years, the adoption of Dogecoin continues to grow, and it’s gaining market share. Most people similarly use Dogecoin to XRP; it offers fast transaction times with low fees and price stability.
Most online gaming sites accept Dogecoin for a deposit, and they work with the crypto for withdrawals as well.
Litecoin was one of the original cryptos and affectionally known as BTC “Lite.” Its developer, Charlie Lee, rose to fame through his promotion of the coin and its protocol. However, when BTC and LTC reached its price peak in late 2017, Lee sold his entire holding to his followers’ confusion.
LTC might have fallen from the number two spot on the global crypto rankings, losing out to ETH. However, it’s still a popular cryptocurrency, and many gaming sites accept it for deposits and withdrawals.
What is the Best Crypto Currency for Online Gaming FAQ
Q: Best Crypto for Online Gaming Transfer Times?
A: If you’re looking for the best crypto for the fastest transaction times, we recommend going with ripple (XRP). Ripple has lightning-fast transaction times, and it experiences less price volatility than the other popular cryptos.
Q: Best Crypto for Lowest Fees?
A: EOS offers fast transaction times and zero fees for transactions.
Q: What’s the Most Used Crypto for Online Gaming?
A: Bitcoin remains the most common crypto used in all online transactions, including gaming. BTC has the largest market cap and the broadest user base.