For many cryptocurrency users, there is only Bitcoin (BTC), and no second best exists. However, if you’re looking to make a deposit on a casino site, you’re sure to notice that there are several other coins accepted. While this is a personal decision for each user, what reasons might you come across for using one of the BTC alternatives?
Litecoin Has Faster Transaction Times
When we look at the mBit casino payment methods, we see BTC listed along with a variety of other tokens, including Litecoin (LTC). This casino offers a big selection of slots and table games, with categories such as live dealer, blackjack, and baccarat. The slots include varied themes, as we can see in the use of titles like Power of Olympus and Legendary Diamonds. There are thousands of games available for players to explore.
This means that it’s important to choose a deposit method that lets you get started smoothly. LTC is listed on this site with a minimum deposit amount of 0.14 LTC accepted. Withdrawals can be made from the same minimum figure upward, up to a maximum of 100 LTC. Once you add some funds, there’s no difference in the way that you play the games. So, why would you want to consider Litecoin as an alternative banking method?
Litecoin is the second-oldest crypto, since it was created in 2011. The idea was to make it a faster, lighter version of BTC, which is a role that it carries out well. It’s also been in the news in the last few years, since it’s been considered for an exchange-traded fund (ETF), and MEI Pharma has spent $100 million to become the first Litecoin treasury company.
Bitcoin Cash Has a Bigger Block Size
The fascinating story behind Bitcoin Cash (BCH) started in 2017. Bitcoin miners activated the controversial SegWit upgrade to the network, but not everyone agreed it was a good idea. This led to a breakaway group coming up with the idea of Bitcoin Cash.
A hard fork was carried out to create the new token, meaning that everyone who held BTC at the time then had the same amount of BCH. The key difference is that BCH has a larger block size than BTC. It’s not something that changes the experience of buying and using the token for most users, although technically this means that Bitcoin Cash can carry out more transactions each second.
No matter what currency you use, mBit’s Winter Village currently offers special prizes during the festive season. This gives you some fun ways to try new games without using your own funds.
Tether Removes Price Volatility
The tokens we’ve looked at so far all have a high degree of price volatility, which has been one of the defining factors of digital currencies overall. Bitcoin has recently dropped sharply, with the interest rate hike from the Bank of Japan being one possible explanation.
Not everyone is comfortable gambling with currencies that can change so drastically in price. This is why the stablecoin Tether (USDT) is also now offered. This token’s price is always $1, meaning that you can buy and use them without any fear of the price changing. This is the biggest stablecoin by market cap, with Tether recently expressing an interest in expanding into gold mining operations.
Ethereum Has A Different Overall Purpose
If you like the idea of using a cryptocurrency with a larger set of use cases, you might be interested in Ethereum (ETH). Described as a world computer and as digital oil, it’s a huge network where everything from DeFi smart contracts to stablecoins exists. This is the second biggest crypto and 40th in the list of all global assets.
When the time comes to deposit and withdraw ETH, the process is the same as it is for Bitcoin or any of the other tokens we’ve looked at here. However, you should bear in mind that its network is very different, with the gas fees needed to carry out transactions varying widely according to the demand.
Others
Some of the other most popular cryptos are also accepted for use in the leading casinos. XRP is designed to be a fast, cross-border payment method. The idea that XRP could replace the SWIFT bank transfer system had been around for years, but it seems that SWIFT will be moving its own operations to the blockchain.
Tron (TRX) and Binance Coin (BNB) are other popular and widely used tokens that can be used for gambling purposes. It’s simply a question of seeing which one best suits your needs and using it. As the digital currency world grows, we can expect to see more trusted tokens being accepted for this and other types of transactions.
