There are a lot of different aspects to cryptocurrency that people don’t fully understand when talking about them. There are actually a lot of different areas that crypto can cover, that go above and beyond being used as a currency. We’ve taken a quick look at what you might need to know in order to fully understand what crypto is capable of.
Some Sites are Built Around Crypto
Some sites just offer crypto as a payment method and don’t really look much further than that. However, there are sites now that are springing up that are built around crypto. In fact, some sites are starting to appear that have their own crypto ecosystem in place. It means that not only are the sites built with the blockchain in mind, but they have their own token. This allows for a high potential for growth in the near future.
Provably Fair Games are Growing
This is still quite a small subsection of casino games. But, provably fair games are becoming more prominent and are starting to offer a wider range of game choices to players. if provably fair titles continue to grow in this way, we could see some sites that provide games that have their own native token in place. This would be linked in with a crypto ecosystem, as mentioned in the previous point.
How the Site Accepts Crypto
It’s important to know how the site uses crypto before you decide to sign up. Some sites are hybrid casinos. This means that they accept a mix of crypto and fiat currency. These sites, there are different ways that they operate. Some sites will convert your crypto into fiat currency, which doesn’t offer true crypto gaming. Make sure to check this out before you start playing, that will ensure you’re fully aware of what you are signing up for.
Knowing what to look for is a vital part of choosing the best crypto. However. it’s more than just looking at the obvious factors. Everyone knows that stability, reliability, speed and security are important aspects. But, what is the less well-known factors that you have to look into?
You shouldn’t just be looking at the here and now. Look into what cryptos offer in the future. Ethereum is a great example of forward-thinking crypto. It offers users a better product now than it did 3 years ago. This isn’t something that all cryptos offer. It’s more than just moving to proof of stake and offering smart contracts. Look for cryptos that want to move into the future.
The best cryptocurrencies will also focus on things other than just being a currency. Offering sandbox environments using the blockchain is just one example of what crypto can offer. Look for a crypto that is offering this kind of advancements, that will allow you to grab the best crypto to provide the best gaming experience.
If you’re ready to start your crypto sports betting journey, then you will need to know the best crypto for your needs. Take a look at our top 5 to find out which is best for you.
While it might not be the best for everyone, Bitcoin has to be on this list. It is the most popular cryptocurrency on the market and it has the most mainstream name value. This means that it’s available at the biggest number of different crypto sports betting sites. If you’re looking for the biggest selection of sportsbooks to play at, Bitcoin is the right choice for you.
It’s not just the wide variety of sites that it’s available at that makes it a good choice though. Bitcoin still offers anonymity, excellent security and the ability to make extremely fast transactions.
Ethereum has long been in the shadow of Bitcoin as the number two crypto. However, it is still an excellent choice for sports bettors. Ethereum is accepted at a good number of different crypto sportsbooks on the market. It makes it one of the best cryptocurrencies for players who want a lot of choices.
It does offer a little bit more than Bitcoin in terms of current and potential future features though. For example, Ethereum is working hard at being more ecologically viable in the long term. It also uses smart contracts which gives ETH users far more scope for what will be available further down the line.
Bitcoin Cash is linked to Bitcoin due to it being a fork of the original. It’s not as widely accepted at crypto sportsbooks as Bitcoin is, but there’s still a good number of sites that offer it as a choice. On top of this, Bitcoin Cash is faster and cheaper to send than Bitcoin. For people who want fast and cheap transactions, this is an obvious positive. It is not quite as secure as Bitcoin, but there are still excellent security provisions in place.
We had to think hard about including Ripple here. This is because it’s not as widely accepted as the other options on this list. However, there are too many positives associated with Ripple to discount it as an option. To put it simply, if Ripple was accepted at more sites, it would top the list of the best cryptocurrencies. It is extremely fast, has low gas fees and the security that is offered is absolutely incredible. There are very few flaws to find in what Ripple offers to players. If you find a site that offers Ripple as a crypto choice, then as long as it meets your other requirements it should put it near the top of your list.
Dogecoin is often looked down on by people. It started as a meme and it’s struggled to get away from that. That is unfair though. Dogecoin is quick, cheap to send and very secure. It makes it an excellent cryptocurrency for betting. In fact, due to the low price of Dogecoin, if you’re on a low budget it is without a doubt one of the best cryptocurrencies to use for online betting.
The most important thing to remember when picking your crypto to bet with is what your needs are. If the crypto that we think is amongst the best doesn’t cater to your needs, then you shouldn’t choose it. Look at what each cryptocurrency offers and make sure it aligns with your requirements. Once you have done that, it’s easy to choose from our list of the best cryptocurrencies for betting.
I first started writing professionally in 2015 about different areas of the online gambling world, quickly becoming an expert in everything from video slots to playing perfect Blackjack. My whole world changed in 2016 when I discovered a Bitcoin faucet. As I discovered more about crypto, the crypto gambling world appealed to me due to combining two of my passions.More by Will Wood