Cryptocurrency betting is the modern bettor’s choice of betting; if you’re not sure why, learn about betting with cryptocurrencies at CryptoBetting. Betting with digital coins comes with many advantages that are missing in a traditional online casino. They offer better security, faster transactions, fair gameplay, wider coverage, better privacy, and many other benefits.
Apart from the ever-popular Bitcoin, there are other cryptocurrencies that you can use for Bitcoin betting. While Bitcoin is a popular and widely accepted option at cryptocurrency casinos, there are other digital coins that you can consider. This article will take you beyond the shadows of Bitcoin and show you the benefits of betting with other cryptocurrencies.
6 Benefits of Betting with Different Cryptocurrencies
Ethereum, Litecoin, Ripple, Cardano, Bitcoin Cash, and DOGE are other digital coins that you can use at casinos. Besides the excitement that comes with choosing something other than Bitcoin, betting with other cryptocurrencies has its benefits. The following are some of the advantages of broadening your cryptocurrency selection.
Cheaper Transaction Fees
If you’ve ever used Bitcoin to bet on a cryptocurrency platform, you’ll be aware of its transaction fees. Bitcoin transaction fees have been known to be on the high side, so not every punter can afford them. The transaction fees can go higher during peak periods when the blockchain is congested.
This is where the benefit of other cryptocurrencies comes in. Ethereum has lower gas fees than Bitcoin; the same is true of Litecoin, Bitcoin Cash, and many other alternatives. This means that you’ll lose less money when you wager with these digital coins.
Cheaper Costs for Procuring Cryptocurrency
Popular digital coins like Bitcoin and Ethereum are quite costly at the moment. Most of the people who wager with these coins bought them when they were cheaper or mined them early. The bar is quite high for the average bettor to acquire them these days.
That’s why going for other cryptocurrencies is a good option. Other altcoins like DOGE and Litecoin are much cheaper than cryptocurrencies like Bitcoin. So, you don’t have to empty your crypto wallet to purchase them.
Since these coins are also accepted at many Bitcoin betting sites, you don’t lose much betting with them. You can purchase these cheaper coins and still get the full Bitcoin betting experience.
Faster Transaction Speeds
Cryptocurrency generally offers fast transaction speeds, but there are a few points to note here. All cryptocurrencies do not possess the same transaction speeds, as some digital coins offer better speeds than others. This means that you’ll receive your deposits and withdrawals much faster with such digital coins.
The second thing of note is network congestion. Popular digital coins like Bitcoin and Ethereum can get easily congested if too many transactions occur at once. This brings down the famed cryptocurrency transaction speeds to a snail’s pace.
It wouldn’t be odd to say that at peak periods, some cryptocurrency transaction speeds are comparable to their fiat counterparts. Nonetheless, not all digital coins suffer from network congestion, as less popular coins don’t get congested. Newer cryptocurrencies are built to be more scalable than older cryptocurrencies, and this allows them to handle congestion well.
Wide Deposit and Withdrawal Limit
Betting with digital coins allows you to enjoy wider deposit and withdrawal limits than with fiat currency. This means that you can deposit up to $300,000 with digital coins and withdraw more than that.
A lesser-known fact is that Bitcoin casinos usually apply this limit to all cryptocurrencies they accept. As such, the limits for various cryptocurrencies are not always the same. Popular cryptocurrencies like Ethereum and Bitcoin are given much better limits than newer entrants into the crypto market.
So, if you want to enjoy better deposit and withdrawal limits than what you’re getting, you’ll have to use other cryptocurrencies.
Access to Unique Bonuses
Casino bonuses are perks that betting platforms offer to players who are registered with the site. They can range from free spins at specific slots to match deposits of various percentages and even cashbacks. Some betting platforms also offer VIP bonuses that award the player unique access to casino tournaments or offline parties.
To access these bonuses, players would have to satisfy the requirements involved. This ranges from making a minimum deposit at the casino to registering with the casino as a new player, etc. Some casinos also offer cashbacks to players that lose often, so they can keep visiting the casino.
In some cases, the bonus’s requirement might involve making deposits into the casino using a particular digital coin. As a result, if players want to take advantage of the crypto bonuses, they must first obtain that digital coin.
Chance to Escape Cryptocurrency Volatility
Volatility has always been a part of the cryptocurrency market, with the value of digital coins rising and falling regularly. This means that a digital coin could be worth thousands of dollars today and less than a hundred dollars tomorrow.
Of course, this volatility isn’t all bad, as the cryptocurrency trading market revolves around it. As such, many individuals are happy with this price volatility, as it allows them to buy coins cheaply. It also offers them the opportunity to make a profit when they sell the coin after its value has risen.
This is why a lot of people bet with cryptocurrency: the value of their winnings can go up over time. This means that they can leave their winnings in their casino account and come for them when their value increases.
However, there is also the off chance that a punter’s winnings can depreciate as well. This is one of the main reasons why many traditional bettors do not visit Bitcoin casinos. They can’t deal with the stress of their cryptocurrency constantly increasing and decreasing in value.
As a result, bettors can choose a stablecoin like Tether over altcoins like Ethereum or Litecoin. Unlike their volatile counterparts, stablecoins are tethered to an asset that keeps their value constant. This means bettors can settle for a cryptocurrency that offers the freedom of digital currency and the stability of fiat currency.
Although betting with only the popular digital currencies provides wider acceptance, the others have their benefits as well. Betting with other cryptocurrencies can allow you to visit Bitcoin casinos on a budget, enjoy rare bonuses, and enjoy other perks. So, try to be adventurous from time to time on your crypto-betting journey.