Best Cryptocurrencies to Use in Online Casinos
It would even be an understatement to say that cryptocurrencies have exploded in popularity over the past few years—both as investment opportunities and as payment methods for various goods. Their decentralized nature makes them ideal for online gambling and for players who value their privacy and seek instant transactions.
How to Find the Right Crypto Payment Method for Yourself
The crypto market is very vast and varied. With thousands of options to choose from, newbies may struggle to get started in the industry. However, before you start your online gambling journey with crypto, here are a few critical factors to consider when choosing your asset.
1. Market Cap
If you are at the start of your crypto investment journey, we suggest you start with tokens that have high market capitalization – which is the measure of their overall value. Theoretically, cryptocurrencies with large market caps come with lower risks.
2. Past Price Fluctuations
You are also advised to carefully check the price performance of the specific coin in the past. The best coins are the ones that have had high gains over a certain period. Of course, there are no guarantees for future trends, but this method is a good starting point.
3. Use Case
Take a look at how strong the demand is for the specific coin and whether it is widely accepted. For example, K8 accepts a wide plethora of digital currencies for deposits and withdrawals, but it doesn’t hurt to check whether the one you observe is on the list.
4. Liquidity
Finally, you ought to search for cryptocurrencies that can be bought and sold with relative ease. Crypto tokens with high liquidity can be easily traded at exchange platforms, and they are not prone to price slippages.
Cryptocurrencies to Play at K8 Casino
So, now that you know how you can choose the right crypto for your gambling journey, you might feel incentivized to start your online gambling adventure. Before you do that, here is a short rundown of the most popular cryptocurrencies used for deposits and withdrawals at K8 Casino.
Bitcoin
Bitcoin is the original and most established cryptocurrency in the world. It has dominated the entire crypto scene right from the start, as its independence from banks and other central institutions was an immediate draw for online casino sites that wanted to provide more anonymous gameplay to bettors.Due to its high popularity, Bitcoin enjoys high liquidity levels, so you can easily buy, sell, and convert it to other fiat currencies at exchange platforms. Of course, before playing at a Bitcoin casino, you must be careful of its price fluctuations – as is the case with other tokens here.
Ethereum
Ethereum casino sites come in close second in terms of popularity, just behind their BTC counterparts. Of course, you can make deposits and withdrawals with ETH, with your anonymity completely preserved thanks to the usage of ETH wallets, instead of real personal details.
Moreover, Ethereum has a high circulating supply, with its smart contracts functionality enhancing the transparency and fairness of crypto casino games. However, there are some fees associated with Ethereum transactions, called “gas fees”. They are used to pay transaction validators, and they are shaved off as small fractions of Ether.
Tether
For all players who value stability and want to avoid the volatility of other cryptocurrencies, we can suggest Tether casino sites. This crypto falls under the so-called “stablecoins” umbrella, with its value being tied to the US dollar.
That way, Tether’s value remains stable, making it a great practical choice for punters who want to deposit and withdraw at online casinos without worrying about drastic price changes. Even though it is structured a bit differently from other crypto tokens here, Tether still holds the same advantages – fast transactions, low fees and near-anonymous deposits and withdrawals.
Litecoin
As the name itself implies, Litecoin was created as a “lighter” alternative to other cryptocurrencies – most notably, Bitcoin. Litecoin’s unique selling point is its exceptionally speedy payments, as all LTC transactions clear in just a few minutes.The fees are also much lower, so you can see exactly why Litecoin casino operators are so in demand at the moment among punters. Furthermore, Litecoin’s mining algorithm is structured in a way to handle higher volumes of transactions, so this just adds to the token’s liquidity and efficiency – making it a haven for both online casinos and punters.
Binance Coin
Up next, we have Binance Coin, which is the utility token of the Binance exchange. By choosing it for your deposits and withdrawals at K8 Casino, you can look forward to low transaction fees, as it runs on the Ethereum blockchain.Since Binance Coin is integrated with the exchange platform, you can look forward to a more convenient online gambling experience. Binance Coin casino sites allow you to easily manage your funds and seamlessly trade, as you have everything in one place.
Tron
Tron was established in 2017, with the goal of creating a scalable blockchain that will allow users to create content and monetize on it. In that regard, Tron casino operators were compared to Ethereum, but there are some notable differences you need to know of.
Ethereum uses its native cryptocurrency to pay for network participants, but the Tron blockchain uses so-called “bandwidth” points as payments. Each user has 600 such points which measure 600 bytes of data. All transactions are measured by how many bytes they occupy in their block, so bigger transactions may require you to purchase more bandwidth points.
Ripple
Ripple casino sites are vastly different to the other inclusions in this list. Ripple is a payment company that was developed to process cross-border payments, so unlike BTC and ETH, for example, Ripple is more centralized.
This company is a blockchain-based one that uses the XRP crypto and the XRP Ledger. Its main focus is to be a payment settlement asset exchange, so we can find a few similarities to the SWIFT system for international safe transfers. Ripple makes its money by providing cross-border payments, and just recently, it announced that it plans to release a stablecoin backed by the US dollar, so this is an exciting time to use Ripple for online gambling.
Shiba Inu
Shiba Inu is an altcoin (a token other than BTC) and it runs on the Ethereum network. As the name suggests, it features the Shiba Inu dog as its mascot. Among users, Shiba Inu is considered to be the Dogecoin alternative, with some proponents even saying that this is the Dogecoin killer.It was created in 2020 by a group called Ryoshi and it now ranks among the top 10 meme crypto tokens by its market size – it is just behind Dogecoin. According to its creators, Shiba Inu was built on the Ethereum network as it was already well-secure, which also had benefits for Shiba Inu casino punters – fast transactions, anonymous gameplay and low-fee payments.
Dogecoin
From meme to mainstream – that is how we can describe the development of Dogecoin, one of the most intriguing cryptocurrencies to hit the decentralized financial world. This is a token that has quickly established itself as one of the more serious players in the online gambling world, with its innovative “meme” beginnings certainly having a great impact on its widespread adoption.Nowadays, Dogecoin casino sites leverage players’ familiarity with DOGE to allow them to make seamless deposits and withdrawals. We can also attribute Dogecoin’s popularity to its fast transaction processing times and low fees – which ranks it among the top-rated crypto tokens in the world.
Bitcoin Cash
Finally, Bitcoin Cash was developed with an aim to solve Bitcoin’s scalability issues, and to a point – it succeeded. Bitcoin Cash casino sites offer faster and cheaper transactions than their BTC counterpart, so they represent a very practical option for casino players at K8. The lower transaction fees mean that more of your Bitcoin Cash tokens can go towards playing online casino games, rather than being lost to fees.
As such, you can see exactly why Bitcoin Cash is highly adopted in the online gambling world, so if you are on the lookout for an efficient payment method with fast transactions and low fees, you have a great option here.
What are Cryptocurrencies with Best Transaction Speed?
Even after knowing all these cryptocurrencies and their functionalities, newbies in the crypto-gambling world can still feel overwhelmed about choosing the right one.
As seen above, there are several criteria you need to pay attention to when looking at crypto tokens, but let’s focus on another one – transaction times. So, let’s help you streamline the process of searching for crypto to play casino games with by investigating their transaction times.
| Crypto | Transaction Time |
|---|---|
| Bitcoin | 10-60 minutes |
| Ethereum | 13 seconds-30 minutes |
| Tether | 1-10 minutes |
| Litecoin | 2-8 minutes |
| Binance Coin | 5-60 minutes |
| Tron | 3-5 seconds |
| Shiba Inu | 5 seconds |
| Dogecoin | Up to 1 minute |
| Bitcoin Cash | 10-30 minutes |
How to Deposit Crypto in Online Casino?
The thrills of playing the best crypto slots and claiming the best crypto casino bonuses are now at your fingertips. If you have already chosen your preferred crypto from the list above, here is a step-by-step guide you can follow to make your first deposit.
Register at K8
Just before you can enjoy all the crypto gambling world has to offer, you must go through the short registration process at K8. Fill out the registration form with the necessary details and you will be done within a minute.
Choose Your Preferred Crypto
You can now head to the Cashier section of your newly-created crypto casino account and browse through the list of options. Select your preferred one. Make sure to now prepare your wallet for a crypto fund transfer.
Use the Unique Deposit Address
K8 will provide you with a unique deposit address. That deposit address will come as both a string of letter and numbers or as a QR code. From there, you’ll be redirected to your wallet, where you will need to confirm the casino deposit.
Enter the Amount
Finally, you can choose the amount you need to deposit, but be wary of the minimum deposit limits at K8. Review the details again and hit the Send button – the crypto funds will instantly arrive in your casino account.
Claim Bonuses & Play
Your crypto gambling journey can now begin. Once the tokens land in your bankroll, you can start claiming the hefty bonuses and play the very latest crypto casino games. Once you secure your first wins, you can withdraw with the same crypto payment method.
Are Cryptocurrencies Safe for Online Gambling?
Compared to traditional currencies and payment methods, crypto assets have some unique security benefits, which more than make up for the associated risks. Of course, investing in crypto and gambling with it means that you will need to be prepared for possible downsides, but there is no going away from the fact that crypto tokens are now the frontiers of online gambling.
Security and transparency are very important features of any banking method or financial system, and thanks to the blockchain network, cryptocurrencies can guarantee just that. The blockchain is an incorruptible ledger that improves transparency, and due to its decentralized nature, it increases transactional security and mitigates the risk of scams.
So, even though cryptocurrencies are seen as mysterious and niche payment methods in some corners of the earth, they are arguably one of the safest ways you can make online casino deposits and withdrawals.
Conclusion
At the end of the day, the majority of the gambling industry still operates with fiat currencies, but crypto tokens are fast catching up.
They promise a lot of benefits that you wouldn’t normally enjoy with traditional payment methods. If you are interested in jumping on the crypto-gambling wagon, you are right where you need to be – sign up at K8 and begin your crypto-gambling venture.
FAQs
Well, thankfully, there is no uniform answer to this question. With so many top-class tokens for gambling to choose from, the choice falls on your shoulders. The likes of BTC, ETH, LTC, DOGE and co. are always a good starting point.
The transaction speed will vary, depending on the cryptocurrency you choose, but they are all much faster than fiat payment methods. On average, you can expect your crypto transactions to be completed within 10 minutes.
Cryptocurrencies add another layer of anonymity to your online gambling journey. For all your transactions at a crypto casino, you just need to use your crypto address and wallet, instead of your bank account or other sensitive financial data.
Well, there are certainly tons of advantages that would make crypto assets superior to traditional banking methods. For instance, since transactions are not supervised by financial institutions, they tend to occur much faster. And of course, crypto transactions come with lower fees compared to some of the standard payment options.
