One of the most innovative trends in the online casino industry is crypto gambling. Since the advent of Bitcoin in 2009, cryptocurrencies have become an alternative payment solution across industries.
With the need for fast, secure, and cheap payments in casinos, it was only a matter of time before these digital currencies became a hit. Today, you can use cryptocurrencies for casino deposit or withdrawal at multiple Canadian sites.
The most popular crypto coins in the gambling industry are Bitcoin and Litecoin. This article explores each in detail and compares the two to help you make the best choice.
When choosing the best gambling site, the ease of payment is always a major consideration. You want to find a platform that offers a cheap yet seamless transfer of funds. Bitcoin and Litecoin offer an impressive range of benefits, including.
You can use Bitcoin for casino deposit or withdrawal. With so much interest in this cryptocurrency, it's easy to find reputable platforms accepting the digital currency.
The transactions are fast, secure and anonymous. You don't have to worry about losing your funds because the blockchain is by default, secure.
To start playing, you need to create a crypto wallet. The best cryptocurrency wallets are available for bitcoin users. It's also easy to buy these coins using bank transfers and other methods.
Litecoin has established its foothold as digital silver. It is now the third-largest cryptocurrency in market capitalization. Like with most cryptocurrencies, the idea behind Litecoin was to overcome challenges faced by Bitcoin.
In casinos, Litecoin guarantees faster payments. The block time (time taken by miners to confirm a block on the blockchain) for Litecoin is shorter at only 2.5 minutes. The coin is also more abundant and readily available with a cap of 84 million tokens compared to 21 million for bitcoin
If you want to play using a cryptocurrency, you have to look for one that's readily available or cheaper.
Bitcoin and Litecoin are popular casino payment methods because they make it cheaper and safer to play online. They have multiple similarities, including enhancing safety, speeding up transactions, improving privacy and anonymity.
However, there are major differences between the two banking options. While both are instantaneous, Litecoin offers faster confirmation. The difference is minimal, but it is vital on a gambling site. Litecoin is also more affordable compared to Bitcoin, which continues experiencing substantial price fluctuations.