5 Alternatives to Bitcoin to Use at Online Casinos
Bitcoin is once again on fire. In the past, we have told you about how you can get started in Bitcoin and the advantages of playing at online casinos using Bitcoin. Today, we are going a different direction.
Altcoins are also popular at online casinos. Most real money online casinos that take Bitcoin will also take one or more Altcoins. Today, we will give you the top 5 alternatives for Bitcoin to use at online casinos.
Ethereum is presently the top altcoin in the world in terms of price and overall market cap. The smart contract based currency is the most used blockchain in the world. That’s one reason behind it’s value. Another is that transactions for Ethereum are much faster than Bitcoin. This makes it appealing for online casinos. If a casino accepts altcoin, odds are they will accept Ethereum.
Bitcoin Cash is the original altcoin. It was originally developed as a way to allow for more transactions. This resulted in a faster blockchain. Due to being the first altcoin, it remains one of the most popular with some crypto users claiming that BCH is the “real Bitcoin.”
The currency is presently around 6th in terms of global market cap and third in price. There is a good chance that online casinos accepting altcoins will take BCH. However, that’s not a guarantee. If a casino accepts more than 2 or 3 currencies, it’s much more likely BCH will be accepted.
Litecoin is typically one of the top alternatives to Bitcoin accepted at the best online casinos. Transaction speeds for Litecoin are much faster than Bitcoin, allowing casinos to receive LTC transactions much faster. Also, transaction fees for Litecoin are monumentally lower than Bitcoin. For many people, Litecoin is a utility coin that’s used for general payments while Bitcoin is used more for a value store.
For casinos that accept altcoin, Litecoin is usually one of the options. It’s not uncommon to see BTC, LTC, and ETH as the main options at many casinos.
You’ll see Tether, also known as USDT, accepted at a number of online casinos. The main reason behind this is stability. Every Tether is linked to one US dollar, at least in theory. As such, the price of the coin stays right around $1. It usually fluctuated between 99 cents and $1 exactly.
This stability is ideal for online casinos as they don’t have to worry about the coin losing a ton of value like with Bitcoin or other crypto.
No, we are not joking. While Dogecoin was initially created as a joke coin, the crypto community has made it a viable currency. The value of Dogecoin is very small, but it stays stable enough for it to be listed on major exchanges and to be accepted as payment around the world.
Dogecoin is one of the first altcoins that many crypto users get into because of its low price. The coin also has low fees and can be used as a utility coin. You’ll see Dogecoin accepted at many casino because there are many players that are willing to risk Doge over BTC or other altcoin.
Deposit in Altcoin – Cash Out in Bitcoin
One advantage of using altcoin at online casinos is you can typically cash out in Bitcoin. For example, let’s assume you deposit $200 in Litecoin and run your bankroll up to $500. Instead of cashing out in Litecoin, many casinos will allow you to cash out in Bitcoin. If you want to add some Bitcoin to your portfolio, this is one way to do it.
Not every online casino that accepts Bitcoin will take altcoin. However, the smart casinos are giving crypto users alternatives. This benefits crypto users as it makes it easier, and often less expensive, to play online. Online casinos benefit as they gain additional revenue streams and gain new customers.