Cryptocurrency has skyrocketed in many spheres, and the gambling industry in particular. Hundreds of online casinos accept cryptocurrency and continue to add new coins and assets on a regular basis. However, modern casino players are interested not only in exciting crypto gambling but also in investment opportunities. They look for altcoins that have the potential for high returns since they allow making more bets and using casino winnings for further profits. But what are these coins, and what should gamblers know about them? Let’s find out.
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5 Widely Accepted Altcoins
The world of crypto assets is developing at an incredible speed. The current number of cryptocurrency tokens exceeds 30,000, and it is growing incessantly. However, any top paying online casino in NZ you choose will only accept only a fraction of all these coins for deposits and withdrawals. Here, you can see the top 5 altcoins that are accepted by the majority of crypto casinos.
Ethereum
Ethereum is the second most popular altcoin after Bitcoin, with a market capitalization of over $466 billion. It is a special computing platform that establishes a peer-to-peer network where users can run decentralized applications known as dApps and host smart contracts using the blockchain. These smart contracts allow participants to make transactions that are recorded in the network. A sender should sign a transaction and pay a transaction fee in Ethereum to complete it.
BNB
BNB is known as a utility token that supports the operation of the Binance exchange. It is used to pay for trading fees on the exchange, and now, its market value has reached over $70 billion. BNB token powers the Binance Chain ecosystem, but it can also be used to pay for goods and services like gambling, for example.
BNB allows holders to stake it and get a flexible percentage yield by depositing BNB on different projects. This altcoin also allows loans and offers a range of other benefits.
XRP
XRP is an altcoin used to facilitate different cryptocurrency exchanges with Ripple Labs company. It is Ripple company’s token used to make global transactions at a rather low cost. The token appeared in 2012 and is owned by a company, unlike other decentralized coins. This altcoin doesn’t run on the blockchain, while all the transactions made using Ripple run through validating servers that compare the information they receive with a common ledger. Ripple is a highly volatile asset with a market capitalization of over $33.5 billion.
Cardano
Cardano is an open-source, decentralized proof-of-stake blockchain with a multi-asset ledger and verifiable smart contracts. It was founded in 2015 and named after Augusta Ada King, Countess of Lovelace. Cardano considers itself an improved version of Ethereum that has the third generation. Cardano ecosystem allows other developers to create tokens, dApps, and deal with other uses. The Cardano platform runs on the Ouroboros consensus protocol, which aims at reducing energy expenditures. Its market cap is over $25 billion.
Dogecoin
Dogecoin was originally created as a joke to make fun of Bitcoin, but it has gradually developed into an open-source, peer-to-peer crypto coin that has received incredible popularity. Developed in 2013 by Billy Markus and Jackson Palmer, this coin doesn’t have a maximum supply and supports mining 10,000 coins a minute. Its abundance resulted in the small value of this coin, but the DOGE market cap has topped $50 billion, which is a real surprise for everyone.
Top Gambling Tokens By Market Capitalization
Some altcoins are directly related to the gambling industry. Although they may be less popular with casinos, these coins can be great trading choices since they have the highest market capitalization among gambling assets.
- Rollbit Coin: This is a utility token that is an integral component of the Rollbit lottery. It was founded in 2020 for enthusiasts passionate about gambling and a native coin of one of the largest crypto casinos at the moment.
- FUNToken: This is an online asset developed for the gaming industry with Ethereum blockchain qualities. FUNToken is the key asset of the FUNToken ecosystem that gaming operators and regular players can utilize.
- Decentral Games: this is a native coin of the meta-versed Decentral Games casino. Its market cap is $28 million.
- Solcasino Token: This is a native token of the online casino built on the Solana blockchain. The circulating supply of the Solcasino token is 3.2 billion, and its market cap is $53 million.
- TG.Casino: this is a native token of the TG Casino, an online crypto-gambling platform that operates only on Telegram. The market cap of this coin is $38 million.
These are only some of the crypto gambling coins you can find on the list of cryptocurrencies. Though none of them are 100% complete, they can be used to make profits and gamble in online casinos, too.
Final Words
You can find many altcoins that can be used for gambling and investment purposes. These altcoins have been developed to achieve a number of goals: facilitate in-game transactions, enable virtual asset ownership, and incentivize players’ engagement. They have shown how the integration of blockchain technology has influenced the gambling sphere!
