Best cryptocurrency in 2022 to use for casino gaming

Cryptocurrency is taking the world by storm through its plethora of uses and advantages, especially in the field of investments. Just like investors, the primary goal of gamblers also revolves around getting the most out of their staked assets. Thus, if you are in doubt about crypto gambling but see the value of crypto investments, it's time you learn how convenient and rewarding it is to use cryptocurrency for gambling.

Reasons why you should try crypto gambling:

Before you delve into some of the best cryptocurrencies for casino gaming this 2022, you should take a look first at why it is worthy of your time and resources. Check out the main reasons why you should try crypto gambling below:

Bypass geo-restrictions

One of the main reasons why cryptocurrency is increasing in popularity is its ability to circumvent geo-restrictions. In other words, crypto users can often bypass geographical restrictions to platforms and services. While not all countries allow crypto gambling such as China and the UAE, most crypto betting platforms accept players from all over the world regardless of the gambling laws in your location.

Get lower transaction fees

Lower transaction fees are now often linked with cryptocurrency because there are no intermediary institutions, such as banks, involved in every transaction. As a result, there are fewer and lower fees involved when it comes to depositing and withdrawing assets. 

Gamble privately and anonymously 

Most gambling platforms that only support cryptocurrencies allow players to bypass KYC procedures to gamble privately. This ensures decentralisation is still prominent in the gambling industry. 

However, there are also hybrid platforms such as Livecasino.io that let players gamble in both fiat and crypto-assets. In such cases, regulatory processes such as Anti Money Laundering (AML) and Know Your Currency (KYC) procedures are implemented to make sure that the platform is safe from ill-intentioned users.

It is better to choose crypto gambling sites that prioritise privacy but still ensure that users are not prone to data leaks or identity thefts.

Ensure fair gameplay

Due to provably fair technology, it is possible to track and confirm the randomness of the casino games you play. The provably fair technology utilises the blockchain where an algorithm is used to verify an online casino’s fairness towards its players. This ensures that the platform is safe from all sorts of manipulation.

Have a convenient and safe gaming experience

Online crypto casinos use the internet to provide access to their games. This allows the players to enjoy the games while in the comfort of their homes away from the hassle of travelling to brick and mortar casinos. Moreover, you can receive your earnings and deposit assets to and from your accounts instantly wherever you are in the world.

Get plenty of bonuses and promotions

Many online casinos run daily, weekly and monthly bonuses and promotions to encourage users to play more and stay in the casino longer. These promotions reward winners and qualified users with free spins, deposit bonuses and cashback to help them play and earn more crypto. Some casinos even provide rewards for those who make deposits using crypto.

One of the best crypto casinos that provides a plethora of bonus and promo rewards in the form of crypto is Livecasino.io. Check out some of the possible prizes you can get below:

• Get up to 4.5 mBTC worth of free chips as your welcome package
• Participate in exciting weekly tournaments and climb to the top of the leaderboard for a chance to win up to 80 mBTC
• Get up to 0.6 mBTC or 0.0072 ETH in Weekly Rebate Bonuses 
• Become a VIP member to enjoy the monthly VIP Cashback where you can receive up to 15% cashback when you wager up to 5,000 mBTC.
  

Play a plethora of casino games

Crypto gamblers don’t have to worry about the number of casino games since there are a plethora of titles available in crypto casinos. Some online casinos accept both fiat and crypto bets. You can play almost all kinds of popular casino games such as slots, blackjack, poker, roulette and roulette.

4 best crypto for gambling

Now that you know the reasons why you should try crypto gambling, you are probably wondering which cryptocurrencies are best for such activity. Take a look at the 4 best cryptos for gambling and learn about them as well as their advantages below:

Bitcoin

Bitcoin (BTC) was released in 2009 by a developer or group of developers under the pseudonym of Satoshi Nakamoto. It is a peer-to-peer currency that can be used in a financial transaction without having to go through a financial institution such as a bank. Moreover, it gave birth to the idea that money can be transferred and received by anyone without relying on intermediaries. 

When Bitcoin first started trading in 2010, the price ranges from $0.0008 to $0.08. Now, due to its added features and improved cryptocurrency software, the token is trading for $40,730.16 as of writing. Its all-time high price was recorded on April 14, 2021, at $64,863.10.

Bitcoin, which has a maximum supply of 21,000,000 BTC, is mined through the Proof-of-Work mechanism. Here, transactions are relayed across the network and gets picked by ‘miners’ who will turn them into blocks by solving complex mathematical puzzles. Once the miners have successfully created and validated the block, they will be compensated with BTC and the block will be added to the blockchain.

Advantages of using Bitcoin in crypto gambling

• Bitcoin is decentralised, so no one can take away or freeze your assets, which can be done by centralised institutions such as banks
• You can be protected from identity theft since you don’t have to submit your data when doing Bitcoin transactions as well as when creating an account
• Even if you transfer your coins locally or internationally, Bitcoin transactions are fast and instantaneous since there are no middlemen in its network
• Since there are no intermediaries involved, withdrawing or depositing BTC require lower fees compared to fiat currencies
• Bitcoins are not subject to inflation so your crypto casino winnings will not be affected by economic instability
• The decentralised nature of Bitcoin means it does not respond to the financial regulations, such as taxes, that centralised institutions implement. However, you should still check your state’s tax regulations.
  
  

Tron

Founded by Justin Sun, TRON (TRX) is one of the best blockchain-based platforms for content sharing and entertainment. Here, users can earn more commission in streaming services, apps and music sites since they don’t have to go through intermediaries, which also makes their content cheaper for their audiences.

About 71.6 billion TRX out of over 101 billion tokens are now in circulation. As of writing, TRON is trading for $0.063119, with an all-time high price of $0.3004 recorded on January 5, 2018.

TRON uses the delegated proof-of-stake mechanism where TRX owners freeze their assets in exchange for Tron Power which they can use to vote for block producers. These block producers will receive rewards after verifying transactions, which will then be distributed to those who voted for them.

Advantages of using Tron in crypto gambling

• TRON operates in a decentralised network so it can provide transparency while still protecting the private data of its users
• Cheap and fast transactions are offered by TRON since it does not require transactions to go through intermediaries such as banks and other financial institutions
• Blockchain technology provides TRON with extended security that makes it hard for hackers to exploit your assets.
  
  

Tether

Launched in 2014, Tether (USDT) is a stablecoin that has the same price as the US dollar. Whenever Tether issues new USDT tokens, the same amount of USD will be allocated to ensure that the cryptocurrency is backed with cash equivalents. Tether became a haven for crypto users since they can transact assets in US dollar equivalent without having to rely on slow and expensive intermediary fees.

Currently, there is no limit on the supply of USDT. But since the number of tokens is backed by US dollars, the total supply will be limited by the actual cash reserves. Fortunately, Tether provides daily transparency reports that include the total amount of their asset reserves and circulating USDT tokens.

At the time of writing, the price of USDT is at $1, with an all-time high price of $1.22 recorded on February 25, 2015.

Advantages of using Tether in crypto gambling

• Allows players to avoid the extreme volatility of cryptocurrencies since it is pegged to USD
• Offers stability, transparency and lower transaction costs to users 
• Tether operates on Ethereum’s blockchain which is reliable, reputable and properly tested
• BTC users can convert BTC to USDT quicker and cheaper than the USD to USDT 
• Players can make USDT transactions within minutes compared to USD fund transfers that can take 1 to 4 days
• Tether is widely accepted in the gambling industry which makes it easier to convert into cash compared to other cryptocurrencies.
  

Ethereum

Released in July 2015, Ethereum (ETC) has been a direct rival to Bitcoin due to its huge user base and popularity. It also follows the design of Bitcoin, making it one of the most widely used cryptocurrencies. This is not just a cryptocurrency but is also a platform for decentralised applications where you can create smart contracts in exchange for money and all kinds of assets.

At the time of writing this, Ethereum trades for $2,909.50 and ranks 2nd after Bitcoin as per CoinMarketCap. Its all-time high price was recorded last November 16, 2021, at $4,891.70.

Advantages of using Ethereum in crypto gamblingf

• Provides a secure payment solution without having to go through intermediaries
• Offers more security since the network is built using complex equations and encryption similar to Bitcoin
• Players are provided with transparency and security in payments which they can see in the blockchain
• Plenty of exclusive bonuses for players who play slots or table games using Ethereum due to the coin’s popularity and reliability
• Ethereum offers almost instant crypto transactions that can take up to less than 15 seconds. This is a lot faster than Bitcoin’s which can take up to 30 minutes.
  
  

How to use cryptocurrency for gambling

Crypto gambling is almost the same as fiat gambling since the only distinction is that you bet and win using cryptocurrency. Take a look at the steps on how to use cryptocurrency for gambling below:

Open a crypto wallet

The first thing you should have before venturing into the world of crypto gambling is a crypto wallet where you will store your crypto assets. There are a variety of available crypto wallets you can get from reliable providers such as Coinbase and Stash.

Purchase crypto

Once you have your wallet, fund your account using credit and debit cards or other forms of payment. What you need to do is to search for an exchange where you can buy your first crypto in exchange for fiat money.

Sign up for an account at the best crypto gambling site

The next thing you should do is to sign up for a crypto gambling account at the best online casino. One of the most secure and reliable crypto gambling sites you should consider is Livecasino.io. Head over to the homepage and sign up for an account.

Play for a chance to win 

After signing up and making your first deposit in the gambling platform of your choice, it’s time to try your luck and show your gambling skills. Play various crypto casino games and aim for the highest win!

Start your crypto journey with Livecasino.io today!

Cryptocurrency was born on the internet, making it a perfect choice of currency for online gambling platforms. With the continuous developments in the crypto world, the variety of uses and advantages of cryptocurrencies are also increasing. Now, it is no longer limited to investments but is also a great way to earn fast and easy wins through gambling. 

Try using cryptocurrency for gambling instead of using them solely for investments. This is your chance to earn the same amount of money more quickly and entertainingly. Start your crypto gambling journey by being a part of Livecasino.io’s Loyalty Club where you can enjoy incredible rewards!