You are not mistaken if it appears that your existence has lately been overloaded with cryptocurrency knowledge. Over the last six months, it appears that every organisation around the globe has developed a blockchain alternative, and terms such as ICO, token, cryptocurrency, and others have taken over the headlines.

While this may appear to be a daunting task, we are here to assist you. For instance, did you know that some online gambling sites have been embracing cryptocurrencies as payment for ages? The market is always on the lookout for new strategies to handle payment processing, particularly given how costly traditional ways are becoming. Crypto is an excellent alternative, but it is still in its early life, and many individuals have only recently learned about it.

What Is Cryptocurrency, Anyway?

Stepping back, we realize that despite it all, most of you still have no idea what cryptocurrency is in the first place. So, in order to make it as simple as possible for you, let us just break it down here. Back in 2009, a group of very bright people were brainstorming ways to make payments completely anonymously (do not even ask why), and they brought up the concept of a decentralized, digital currency. This initial currency was known as Bitcoin, and it is still in use today.

In broad sense, cryptocurrency works by recording every exchange between users in a digital ledger, which is then copied and saved on a network of different computers. This way, if a transaction only appears on one copy of the ledger, it can be identified, preventing the ledger form from being breached and unlawfully altered.

Sure, there’s a great deal more to it than that, but at its heart, cryptocurrency is a decentralized, digital form of payment meant to contend with existing traditional methods of payment.

Cryptocurrency Gambling Sites

There are numerous commonly accepted cryptocurrencies in the industry today, and new coins are being launched at a quick rate. While the online gambling industry was among the first to accept these payments, to date, companies have concentrated on incorporating the most trusted. We believe that if you would like to feel at ease using cryptocurrencies at online gambling sites (or anywhere else), you should first learn about these currencies, along with their history and how they should be used at online gambling sites. Below are some of them:

Bitcoin Gambling Sites

Bitcoin is the initial cryptocurrency, having been created in 2009 on the initial blockchain (the decentralized system). Whilst other coins are now available, the amount of casinos that take Bitcoin (BTC) is greater than every cryptocurrency.

Litecoin Gambling Sites

Litecoin, another cryptocurrency that was started up on Github in 2011, is the creation of a former Google worker. It’s yet another effort to build the same decentralized system at a faster speed. Litecoin (LTC) is a great alternative to Bitcoin that is being accepted by more casinos every day.

Bitcoin Cash (BCH) Gambling Sites

Following the development and publishing of the initial open-source blockchain technology, a rising group of developers sought options to strengthen the original work and mitigate some of the problems that arose as a result of its popularity. Bitcoin Cash is a cryptocurrency that arose as a result of a divide in the Bitcoin blockchain and is now largely viewed as the likely successor to the initial cryptocurrency.

Ethereum Gambling Sites

One other prevalent blockchain network is Ethereum, and the currency it generated (Ether) is now broadly acknowledged by online gambling sites. Ether and the Ethereum blockchain are lauded as more effective by those who use them, as they are built on the same notion as Bitcoin but with faster approval speeds.

Cryptocurrency Wallets

There’s as many, if not more, cryptocurrency wallets to select from as there are cryptocurrencies in the industry today. The crypto wallet is exactly what it sounds like: a single location where you can manage all of your cryptocurrency balances. Some crypto wallets have been in use for much way too long than others, but it doesn’t mean the new ones are not worthwhile to use. You should be focusing on specific characteristics of crypto wallets.

How to Gamble at a Cryptocurrency Gambling Site

After you’ve figured out how to get some cryptocurrency and how it is used to make a deposit at the gambling site of your choice, you’re ready to learn how to use the currency for gambling. The way each of the sites manages cryptocurrency at the slot machines and gaming tables differs slightly.

 

The cryptocurrency you want to play with must have no impact on the games you play, but if you’re not sure, you could always verify with the casino operator or search in the Terms and Conditions. Operators want to give the best possible overall gambling experience, which involves giving you with the top choices for playing with cryptocurrency.