Cryptocurrency Comparison Guide | Best Cryptos for Gambling
Gambling with cryptocurrency has become a popular pastime for many players who enjoy trying their luck online. This has been spurred on by the many different online crypto casinos that now operate.
However, knowing which crypto is the best to gamble with may seem tricky at first. This is especially considering many cryptos operate in slightly different ways, have different advantages, and fall into very different affordability criteria.
In this cryptocurrency comparison guide, we will look at the most popular cryptos that are widely accepted by online casinos. We will see what advantages and disadvantages each of these coins come with to help you decide which one is best suited to your gaming needs.
Popular Crypto Comparison
If you’re looking for a snapshot of how all of the main cryptos compare to each other, the table below shows you the key information for each:
Crypto Type
Block Processing Time
Average Transaction Fee (USD)
Specific Wallet Required?
Bitcoin (BTC)
10 minutes
$2 - $4
No
Bitcoin Cash (BCH)
10 minutes
$1
No
Litecoin (LTC)
2.5 minutes
$0.03 - $0.04
No
Ethereum (ETH)
12 seconds
$2 - $3
No
Dogecoin (DOGE)
1 minute
$0.65
No
Tether (USDT)
Blockchain Dependent
$1 - $4
No
Dash (DASH)
2.5 minutes
$0.01 - $0.02
No
Tron (TRX)
3 seconds
$0.00
No
Ripple (XRP)
Instant
>$0.01
No
Monero (XMR)
2 minutes
>$0.01
No
Bitcoin (BTC)
First available in 2008, Bitcoin was the world’s first-ever cryptocurrency and began the revolution that has spawned thousands of altcoins since. Because of this, this is the most widely accepted cryptocurrency when it comes to online casinos.
While offering great security and worth, Bitcoin is still one of the slowest coins in terms of block processing. This means that BTC transactions may take longer than other cryptos. Directly tied to this is the rather higher service fees that accompany transactions made using this coin.
To balance these slight downsides, Bitcoin is widely accepted as a payment method in many retail and online spaces. This means that you’ll easily be able to spend your winnings should you win big.
Beginning in 2017, Bitcoin Cash was launched from a fork in the original Bitcoin blockchain. This means that much of the protocol behind this altcoin is similar to the original crypto that started it all. However, BCH was created to be more transactive than the original BTC.
To achieve this, the coin offers more transactions per block, which results in faster transaction speeds. These faster speeds also mean that this coin offers cheaper service fees. This means that you can transact more often without worrying about how much you are paying in fees.
Because it shares a name with Bitcoin, this altcoin is also more widely accepted by online crypto casinos than other coins. For this reason, you shouldn’t find it too hard to find a place to play using BCH.
Part of the Bitcoin brand and thus widely accepted
Cons
Lower blockchain involvement
Worth changes drastically
Not as widely accepted as BTC in retail spaces
Litecoin (LTC)
Litecoin came on the scene in 2011 as a strong competitor to Bitcoin. In fact, during its span, it once even enjoyed a leap in worth of over 100% in less than 24 hours. This has made it a popular coin accepted by online casinos.
Other factors that make this coin a strong contender for online gambling include fast processing times (only two and a half minutes per block), incredibly low transaction fees, and quick uptake of acceptance from multiple places.
These upsides to LTC mean that you can easily deposit and withdraw from your chosen casino quickly and won’t have to worry about any excessive transaction fees. In addition, more and more places will likely start accepting LTC as payment in the future.
Secure coin thanks to the specific encryption type
Very fast transactions on the blockchain
Cons
Association with the dark web
Often confused with BTC
Volatile worth that could shift suddenly
Ethereum / Ether (ETH)
Conceived in 2013, Ethereum finally became available in 2015 when it was launched as a competitor to BTC-and so much more. ETH was the first blockchain that allowed applications and the transfer of NFTs.
Bundled with these new concepts-which already drew plenty of attention to this altcoin-Ethereum offers transaction times of mere seconds. This makes it sought after when depositing into your player account or withdrawing your winnings to your crypto wallet.
The drawback to this great usability is that Ethereum transaction fees are slightly higher than other altcoins-although still not as high as Bitcoin. This means that you may need to watch how often you transact when using it.
Support for NFTs and applications on the blockchain
Secure thanks to peer-to-peer verification
Cons
Operates under a relatively new concept
Service fees are slightly higher than other altcoins
Unstable history
Dogecoin (DOGE)
Launched as a joke initially, Dogecoin became available in 2013. The altcoin operates in the same way as many others in that it uses a blockchain and peer-to-peer verification to ensure a safe and secure transacting environment.
This altcoin offers block confirmations in just one minute-meaning that deposits into your player account are verified very quickly. It also offers relatively low transaction fees so that you don’t have to worry about how many times you send or receive money.
Another bonus to this humorous altcoin is that it has received wide support from many different communities-including an endorsement from public figures like Elon Musk. Thanks to this-and the other features it offers-it is becoming increasingly accepted by online casinos.
Low transaction fees when compared to some other coins
Large community support encouraging development
Cons
Low worth that is volatile and changes frequently
Lower popularity than other altcoins
Not accepted largely outside of the iGaming industry
Tether (USDT)
Launched in 2014 under the name Realcoin, Tether was renamed and became what it is today shortly after going live. The coin is very different to other altcoins in that it doesn’t have its own blockchain. Instead, it operates on the blockchains of other coins.
The biggest feature of this special coin is that it was the first-ever stable coin. This means that its value is relatively fixed and (in theory) will always be worth the same. If gambling is enough of a risk for you and you don’t want to risk the volatility of other coins, then Tether is perfect for you.
Other features include the wide acceptance of Tether as a payment method by many online casinos and the security behind the coin. This is all thanks to the security and stability offered by existing blockchains.
Service fees could be high depending on transaction blockchain
Transaction times are dependent on blockchain
Cannot increase in value like other altcoins
Dash (DASH)
Dash was first launched in 2014. Initially, this altcoin was called Xcoin and appeared due to a fork in the Bitcoin blockchain. Today, the coin is accepted by many great online crypto casinos and has continued to grow in popularity.
Transactions occurring on the Dash blockchain are verified and completed in just two and a half minutes. This means that any deposits or withdrawals made to or from your chosen online casino happen quickly-allowing you to play or celebrate your wins without delay.
These fast speeds also help reduce transaction fees to ridiculously low levels. Because of this, you’ll likely never have to worry about spending too much money on transacting with this altcoin.
Governance that risks the security of full decentralization
Tron (TRX)
Tron was launched in 2017 and is mainly developed by the Tron Foundation Ltd. The crypto, which began operations on the Ethereum blockchain, now operates its own blockchain and is widely accepted by many online casinos.
Unlike many other altcoins, Tron offers transactions that take mere seconds. This means that deposits into your player account will occur almost instantly. Better yet, withdrawals will occur as quickly.
Another stand-out feature of this altcoin is the service fees-or rather, the lack thereof. This is because Tron doesn’t charge any service fees for operating on the blockchain.
Blockchain development is overseen to ensure proper upgrades
No service fees
Almost instant transaction speeds that take mere seconds
Cons
Blockchain stability has previously been questioned
Volatile worth that changes drastically
Relatively new and still under development
Ripple (XRP)
Launched in 2012, Ripple began life as a trading platform-that just happened to have an altcoin attached to it. This crypto uses consensus validation to ensure that all your transactions are completely secure.
More than this, Ripple is one of the only-if not the only-altcoin that offers instant transaction verifications. This is achieved thanks to the many users that verify and confirm transactions on the blockchain every minute. It also means that deposits into your player account are instant.
Because of this speed when sending and receiving money, transaction fees on this blockchain are virtually non-existent. This leaves you more money to try your luck with when playing your favorite casino games.
Monero (XMR) was developed and launched in 2014 as BitMonero. However, a disagreement about the future of the coin led to a fork in its blockchain, and Monero as we know it today was formed. It is now widely accepted by a handful of excellent online crypto casinos.
Part of the reason this coin has grown so popular is thanks to its transaction fees-which are so low that you won’t even think of them. These low fees allow you to save money when depositing into your player account or withdrawing winnings.
Another great thing about the XMR coin is the fast transaction speeds it offers. Transactions are confirmed every two minutes-meaning your deposits will reflect in your player account quickly.
