A craps casino can be a wonderful place to play craps online. It provides all the things you need for a great time and some of it is quite simple to understand as well. For instance, when you are playing craps you will often find that you have no idea what just happened. All you know is that you won or lost money on your bet. When you lose you must pay back the amount of money you put down. If you win then you may walk away with more money than you started out with based upon how much you wagered. But, the problem may come to find a casino that supports your currency. All this can be solved if you make the switch to cryptocurrency. Therefore, we are going to be highlighting different cryptocurrencies you can use while gambling online.
Bitcoin
The first thing you will notice when trying to go through a website that offers you to buy or sell any cryptocurrency is its name “bitcoin”. This particular currency came about around 2009 by an anonymous person. Although they were not known at first, in 2017 they were awarded $20 million dollars from an investment fund as part of their ICO (Initial Coin Offering). The reason they received the money was that they had created a decentralized cryptocurrency that could be spent without having any middlemen involved. In other words, no one entity owns bitcoin making it very difficult to steal funds during robberies or hacks.
Ethereum
This next currency has been called the “smart contract platform”. It enables people who offer services or products via smart contracts to do so quickly and easily. These types of transactions are done automatically once set up and cannot be cancelled. Once this occurs you can start transacting immediately with zero fees and the ability to keep track of everything without needing an accounting department. If you would like to learn more about Ethereum head over to our post here!
Litecoin
This cryptocurrency was also introduced in 2011 but it was designed differently than Bitcoin. Litecoin utilizes the Scrypt algorithm where many miners compete to solve complex equations. This allows them to create new coins faster than standard block creation times. This gives litecoins the advantage of being able to scale better than any of the other currencies listed here. To learn more about Litecoin head over to our post below!
Monero
This last cryptocurrency was developed after bitcoin due to the fact that there was too much fraud and theft happening among bitcoin holders. Monero uses ring signatures to protect users with private keys. They also use stealth addresses for sending coins rather than public ones. So, if someone tries to hack into your private key they will never get access to your funds. Additionally, you can send coins anonymously using Tor browser extensions. This means there is no way anyone can trace the sender, receiver, or transaction type.
Dogecoin
If you want something super flashy then try Dogecoin. This coin is very similar to Bitcoin, except that it features the image of the Shiba Inu dog doing goofy things. We love this coin because many casinos allow it to be accepted. However, the best feature of this coin is that it only takes 0.008 XMR to send. This makes it perfect for quick transactions within games.
Bitcoin Cash
Bitcoin cash was made possible by the hard fork that took place on August 1st, 2016. Basically, this was a change within the blockchain technology that made it possible for two blocks to merge. This caused the total number of bitcoins to double. The problem with this coin though is that it does not require any verification before moving forward with trades. Therefore, it is relatively easy for scammers to take advantage of the coin for illegal purposes such as laundering money. Some sites will let you deposit bitcoin cash directly into your account, but we recommend caution until these laws are clear cut.
Tether
Tether is a cryptocurrency that basically acts as a dollar bill in the economy. Since the US Dollar is considered stable, tether is used to increase the value of cryptocurrencies and make it easier for investors to trade. What sets apart Tether from others is the fact that they have released a physical version to back the digital currency. When the USD is backed digitally, this creates risk for those investing since their value may decrease or increase rapidly depending on how much demand there is for this type of currency. To give you more information regarding what Tether is click here!
Ripple
Ripple is another cryptocurrency that is based on the same concept as PayPal. Instead of charging clients who send and receive funds, Ripple charges the banks to process payments. It’s important to note that this is still an experimental project. Many people believe that it will work out well and become one of the top five cryptocurrencies in the future.