Altcoin Gambling Guide

Bitcoin is one of the most popular cryptocurrencies for gambling and for playing at online casinos. It can be easily purchased and almost everyone already knows it. However, this is not the only virtual currency that can be used for crypto gambling. There are other coins that can be even more suitable for using at online casinos.

The cryptocurrency market has over ten thousand different digital assets. Although not all of them are popular, there are numerous virtual currencies that can be used to play at online. We are talking about cryptocurrencies such as Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), Bitcoin Cash (BCH), Tron (TRX), Monero (XMR), Tether (USDT), Zcash (ZEC), Dash (DASH) or Ripple (XRP), among others.

Many of these coins could be even more suitable than Bitcoin for playing casino games. In this guide, we share all the details about the best coins for gambling at online casinos.

👎 Why is Bitcoin not the best coin for gambling?

Bitcoin has been used over the last years as a means of payment and as a store of value. Users from all over the world preferred to use Bitcoin to pay for goods and services and also to play at cryptocurrency casinos. And there are some reasons that made Bitcoin so popular for payments.

Despite that, with the expansion of the crypto market, users started to embrace other coins for their daily payments and left Bitcoin as a store of value currency. Indeed, Bitcoin lacked many of the features that other digital assets offered.

Bitcoin has high fees compared to other coins. It is not as fast as other digital assets and it can also be traceable, meaning your privacy is not as protected as with other privacy-focused coins.

🎰 What alternative cryptocurrencies can be used at casinos?

As we previously mentioned, there are several digital assets that can be used at your favorite crypto casino. Each platform is free to decide the coins they accept. This is why you will have to check whether the cryptocurrencies you want to use are supported by your casino.

Depending on the coins you use, you will pay different withdrawal and deposit fees. Furthermore, some coins might be compatible with the games you like. It depends on you to search for the casinos you want to use.

Now let’s review some of the most popular virtual currencies. The following are just some of the largest cryptocurrencies in the market that can be used at some of the most popular crypto casinos.

Ethereum (ETH)

Ethereum is currently the second-largest virtual currency in the world. It can be used for a wide range of things including paying the fees of the Ethereum network. One of the main advantages of Ether is related to its lower fees and faster transaction times compared to Bitcoin.

When Bitcoin is congested, Ethereum tends to have cheaper fees. However, ETH could also get congested. Throughout 2021, average transaction fees have ranged between $3.80 and $20 per transfer. In recent times, though, Bitcoin fees have been lower than on the Ethereum network.

Due to its faster blocks, Ethereum transactions can also be processed faster than on the Bitcoin network. For example, a transaction can take as little as 2.5 minutes to be confirmed on the Ethereum network but 10 minutes on the BTC blockchain.

Litecoin (LTC)

Litecoin is also a strong competitor for Bitcoin and Ethereum. This virtual currency was released shortly after Bitcoin (2011) and it is currently one of the oldest in the cryptocurrency market. Low fees and fast transaction times are the main selling points of this digital asset.

As we mentioned before, Bitcoin and Ethereum can get congested. Litecoin has proven to be a reliable virtual currency in terms of speeds (transactions can be processed under 2.5 minutes) and costs. When both BTC and ETH couldn’t keep up with the number of transactions, LTC was smoothly running and processing all the transactions that the above-mentioned networks couldn’t process.

Throughout 2021, LTC transaction fees have ranged between $0.01 and $0.07. There is a large difference between Litecoin, and Bitcoin, and Ethereum. Not only this, in the future, Litecoin developers could add privacy features to protect users’ data when transacting on public blockchains.

Litecoin is definitely one of the best coins to play casino games due to the fact that it is supported on dozens of platforms and due to its main features.

Dogecoin (DOGE)

Dogecoin is the popular meme coin that skyrocketed this year after Elon Musk’s comments. This digital asset could also be used to play casino games. Several platforms have already added support to this virtual currency due to different reasons.

The first thing to take into consideration is that its fees are also lower than on the Bitcoin and Ethereum networks. Despite that, they are higher than on Litecoin. Dogecoin transaction times are also very fast. Transactions can get processed in under a minute thanks to the network’s 1-minute blocks.

Although this cryptocurrency is considered a meme coin, it is now among the top 10 largest in the market and it deserves proper attention. In the future, a larger number of crypto online casinos could add support to DOGE.

Bitcoin Cash (BCH)

Bitcoin Cash (BCH) was created as a hard fork to the Bitcoin network and it is now among the largest digital assets in the world. Bitcoin Cash is not the same as Bitcoin. If you are new to crypto, you should know that BCH aims at scaling the blockchain network with larger blocks rather than with off-chain scaling solutions.

BCH is also one of the most suitable digital assets to play casino games due to its fast transaction times and low fees compared to BTC or ETH. Indeed, BCH transaction fees are even lower than on the Litecoin network.

In this way, if you want to withdraw or deposit money in casino platforms, you will save several dollars in transaction fees that you’d have to pay if you would use ETH or BTC.

Tron (TRX)

If you have purchased other altcoins such as Tron, then you should know that some casinos are accepting them as a means of payment to gamble on popular games. TRX digital currency powers the Tron blockchain and it has been a competitor to the Ethereum network.

Nowadays, it is also one of the cheapest digital currencies to process transactions. If you are worried about the fees you’d have to pay for playing casino games with cryptocurrencies, TRX would allow you to pay some of the lowest fees in the market.

Furthermore, developers behind Tron have been working to bring privacy features to this digital asset and make it fungible. Although this initiative is not yet live, it could become a reality in the coming years.

Monero (XMR)

If you care about privacy when playing casino games, then Monero (XMR) is the right altcoin you can use for this purpose. Monero is also one of the oldest digital currencies in the market and its goal is to protect users’ privacy.

Monero has low fees (close to the fees paid by LTC and BCH users), fast transaction times, and privacy. When using Bitcoin, Ethereum, or any of the above-mentioned coins, users share information such as wallet address, funds held on them, and destination wallet. Moreover, all the transactions before and after the transactions you make can be tracked.

Instead, XMR does not allow for its blockchain to be audited or analyzed. It hides users’ funds, users’ wallets, and their addresses. In this way, individuals can be sure that they are not releasing private information to curious eyes. 

Tether (USDT)

We have covered most of the largest altcoins, but Tether (USDT) is different from the others. This is the largest so-called stablecoin and its price is tied to the price of a fiat currency, in this case, the US dollar.

As a casino player, you want to have access to cryptocurrencies but without getting exposed to their volatility. Let’s not forget that virtual currencies fluctuate on an hourly basis. If you cannot handle this volatility while playing casino games, Tether could be a good solution.

Several platforms are now starting to accept USDT, which is making it possible for a large number of users to deposit their coins and enjoy some of the latest casino games in the industry.

ZCash (ZEC)

ZCash (ZEC) is also known as a privacy-focused currency. Created by Zooko Wilcox and a team of developers, ZCash became a good option for many users to play casino games. One of the advantages of this virtual currency is that you can choose whether to remain private or to use the public blockchain.

Let’s not forget that privacy features make transactions more expensive than normal transfers. This is why users can have the option to enable or disable the privacy features according to their needs.

Nonetheless, over the last few years, Zcash registered one of the lowest transaction fees in the market, meaning that this could be a very good coin to use in casino platforms online. Some casinos are now accepting not only the major currencies but also ZEC and many others.

Dash (DASH)

DASH has been growing as an alternative currency to payments due to its fast transaction times. This digital asset is widely used in Venezuela and it is now accepted at hundreds of stores around the world.

This altcoin works with a variety of functionalities that make it possible for users to process fast transactions and protect their privacy. Thus, this is a very versatile digital currency to use to play casino games.

If you want to send a fast transaction, then DASH could be a good option. Moreover, if you want to protect your data and privacy DASH would allow you to do so without having to sell it and purchase another privacy-focused virtual currency. Not many casinos are currently supporting Dash, this is one of the downsides.

Ripple (XRP)

Ripple (XRP) is another popular alternative cryptocurrency to play casino games. This digital currency is one of the largest in the market and it has also been operating for several years now. The main advantage of XRP is the almost immediate transactions.

Indeed, if you send a transfer, the funds are likely to arrive in just seconds. That’s amazing, isn’t it? If you were wondering how high the fees must be to process such fast transactions, let us tell you that XRP also has very low fees. A single XRP transaction could cost as low as under a dollar.

Cardano (ADA)

Cardano (ADA) is one of the most promising blockchain networks in the cryptocurrency market. The virtual currency was released to the market a few years ago by Charles Hoskinson, which is also the co-founder of Ethereum (ETH). Knowing the main issues that Ethereum was facing (scalability), he decided to create an expert team that would work on a new digital asset that would be able to deal with the scaling needs of blockchain applications and users.

Thanks to a scientific approach, Cardano was able to focus on creating a strong community of experts that are now working in order to bring advanced functionalities to the cryptocurrency market.

Due to the fast growth that Cardano experienced in recent years, it became one of the largest digital currencies in the market. Sending and receiving transactions is now something that can be done in seconds and that would not require users to pay large fees or wait long minutes for the transfer to be completed. Because of these reasons and many others, casino platforms decided to add support to Cardano. ADA lovers are now able to play their favorite games using their preferred digital asset.

Binance Coin (BNB)

Binance Coin (BNB) is the cryptocurrency that powers the Binance ecosystem, which includes a cryptocurrency exchange with dozens of unique features and a blockchain network called Binance Smart Chain (BSC).

After being released to the market in 2017, Binance Coin was able to become the third-largest cryptocurrency in the world behind Bitcoin (BTC) and Ethereum (ETH). BNB is used on a wide range of platforms and protocols due to its low fees and fast transaction speeds.

Users can easily use BNB as a payment method to play at online Bitcoin and crypto casinos. This coin would be a good alternative to other digital currencies if networks become congested.

Neo (NEO)

NEO is one of the most popular assets in the crypto market and it is now being supported by a large number of online gambling sites. This could be a great opportunity to test and try a different digital asset to play your favorite casino games online. What are you waiting to test NEO at online casinos?

Thanks to its versatility and potential, NEO is a great option for crypto users that want to enjoy playing some of the best online casino games in the market. NEO is also a cryptocurrency that brings new innovations to the crypto industry and that has a unique two-currency system with NEO and GAS as digital assets.

In the future, NEO can expand and reach a larger number of users. This would, at the same time, help expand the network of online casinos supporting this digital currency.

Solana (SOL)

Solana (SOL) is trying to take an increasingly important role in the cryptocurrency market by offering fast, cheap, and reliable blockchain-related services to projects, startup, companies, and individuals. SOL is basically a competitor to BNB, ETH, and ADA, among others.

Due to its fast transaction times and reliable blockchain, SOL is a great fit for those individuals that want to play online casino games without overpaying for network fees or waiting long times for a transaction to be processed.

Hence, SOL will be a good fit for online casinos if they want to attract a larger number of users from the crypto industry.

EOS

EOS is becoming an increasingly popular digital asset to play at online casinos. This was possible thanks to its low fees, large community, fast transaction times, and unique ecosystem of projects and dApps.

Compared to other similar virtual currencies, EOS surpasses them in terms of efficiency and governance. If you care about reliability, then EOS is a great option as transactions are fast and cheap. Some casinos might even have unique promotions for EOS players, therefore, check their promotions.

EOS will give you hours of fun at online casinos. Make sure that you select the correct platform to gamble on using EOS. You will not regret it.

🔒 How to get altcoins and where to keep them?

If you want to buy altcoins, you should open an account on some of the largest cryptocurrency exchanges in the world. Some of these platforms would offer you different solutions and services depending on your needs. Moreover, depending on where you are located you would have a larger or smaller number of exchanges available.

Exchanges are similar to bank accounts, with the difference that you hold digital currencies in them. Thus, they are also a target of attackers and hackers that want to get access to users’ funds. This is why it is highly recommended to withdraw your altcoins to a cryptocurrency wallet to which you control your private keys.

There are hardware wallets and software wallets. If you hold a small number of digital assets, then, it is highly recommended to use a software wallet rather than a hardware wallet, which is usually recommended for larger holdings and long-term investors.

📌 Conclusion

Although Bitcoin is the most popular cryptocurrency in the world, it is not the best virtual currency for gamblers. There are many other altcoins out there that offer better services to users that want to play crypto casino games. Some cryptocurrencies offer fast, cheap, and private transactions to play at online casinos. It is up to you to decide the virtual currency you use.