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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.
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:
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.
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.
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.
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.
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.
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:
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.
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 (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
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
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
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
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:
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.
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.
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.
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!
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!
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