Crypto Currency in Gambling: 3 Alternatives to Bitcoin
The online casino industry is always in search of something that could evolve the entire platform. A recent addition that receives the spotlight should be the rise of cryptocurrencies in online gambling. Most people are still not informed by the benefits of cryptos, but at least, we think that they know what a bitcoin is.
The father of all cryptocurrencies, as some people refer to the virtual currency, isn't just the very first crypto to emerge, but it is also the strongest of them all, holding most of the shares in the crypto market.
But even the greatest has its weaknesses, that's why we are in search of something that could replace bitcoin in case something happens. Here are our three best bitcoin alternatives that are all safe to use.
Ethereum: Second Best in the Current Crypto Currency Market
Ethereum was able to make a name for itself because of its reliability and marketability. In 2013, a blockchain researcher spearheaded the development of Ethereum through his studies and an ample amount of research. In late 2014, the program finally launched and was able to go live through crowd sales that happened in a flash.
But with its greatness also follows trouble that happened three years after its development. Because of a contract exploit that occurred that year, Ethereum needs to split into two parts. Instead, the other one now is commonly known as ETC or Ethereum Classic.
But even if it did split up, Ethereum is still secure and reliable, which means that you can use it in most online casinos.
Bitcoin Cash: Copy of BTC That Does the Same Job as Its Inspiration
BCash did an excellent job when it comes to copying BTC. Within just a short amount of time after the father of crypto's release, Bcash came into life as an effort to imitate the use and success of BTC. It is what crypto enthusiasts call as an altcoin or a spin-off cryptocurrency.
Most online casinos accept BCash payments because of their efficiency and also anonymity. While it didn't successfully imitate BTC's success, BCash is still going strong and is continuously receiving support in many ways.
Litecoin: Faster and Cheaper Way to Make Online Transactions
Litecoin's purpose is also to enter as a rival of the fabled BTC. Because of how complicated BTC is, the amount of work it needs to process a particular transaction is a lot, and users should also wait for some time depending on the fee they added for their operations to push through.
Litecoin bridges this gap by offering cheaper and faster anonymous cryptocurrency transactions that are available for anyone with a Litecoin wallet address. These features are more than enough for people to get enticed and use the whole system. Litecoin is also the ideal crypto to use nowadays because of how much fees BTC transactions require.
The rise of cryptocurrencies shouldn't be feared, and understanding it shouldn't be that complicated. Online casinos support their players by implementing crypto options in their payment methods to make it a lot easier and safer for them to deposit and withdraw their funds.