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Which Cryptocurrency to Gamble with?

The Best Cryptocurrency for Sports Betting and Gambling

Using cryptocurrencies for gambling is becoming more common as the growth of Bitcoin, Litecoin, and others like Ethereum skyrockets. While Bitcoin is easy to transfer to and from your account, sportsbooks and casinos capitalized on offering cryptocurrencies for online gambling.

But which one is the best for sports betting?

Let’s take a look at the three top cryptocurrencies:

Bitcoin

The first and original cryptocurrency was first outlined in a white paper released in 2008 by international mystery man Satoshi Nakamoto and was brought online in 2009. It has become the most widely recognized and accepted cryptocurrency in the world and continues to grow. Bitcoin cryptocurrency is worth over $735 billion to date, with a single Bitcoin worth over $36,000 USD.

When it comes to sports betting, playing casino games, or betting on e-sports with Bitcoin – you’re in luck, as many operators and sports betting sites offer Bitcoin as a deposit and withdrawal option – including BetUS! We offer great Bitcoin and cryptocurrency deposit options, which allow you to add some free bets to your account just for making a crypto deposit!

Also, you can look forward to no transaction fees on any deposits or withdrawals and Bitcoin has the highest maximum deposit and withdrawal amount, as well as the lowest – some deposit options have fees associated with them and are only available to larger amounts.

The best part, and what makes Bitcoin a great and arguably one of the better options for sports betting is that it is the most established and it will likely be around for decades to come. There is too much invested in the cryptocurrency to simply go away with the snap of someone’s fingers.

Litecoin

Shortly after Bitcoin was established, Litecoin was born in 2011. Litecoin has been referred to as the silver medal to Bitcoin’s gold, which isn’t a bad thing or discrediting Litecoin. With Bitcoin soaring to levels where the average Joe cannot afford to buy a single coin, you can look at Litecoin as a viable option.

Litecoin is highly visible and highly liquid – with daily trading amounts of around $2 million.

It is similar enough to Bitcoin to compete with it, and the initial idea for Litecoin was to make it better than Bitcoin. The transactions are approved and processed usually within two minutes, instead of Bitcoin’s eight minutes. However, we do share the sentiment that Litecoin is here to stay, it’s not as volatile as the other, smaller cryptocurrencies.

Ethereum

The newest cryptocurrency of the three we will review today, Ethereum isn’t one to overlook, as it’s grown significantly in the past few years alongside giants like Bitcoin and Litecoin. We should mention it isn’t identical to the other two cryptocurrencies, it offers a whole new experience.

While Ether is technically the same as a Bitcoin, in theory, being traded online through exchanges, Ethereum wanted to take it a step further by using dApps, decentralized applications, and smart contracts to further prevent fraud or control from a third party.

Ethereum offers a different experience from Bitcoin or any other cryptocurrency for that matter, so it definitely raises the argument that they’re the biggest competitor of Bitcoin. Ether is not capped and there are smart contracts, so it has that advantage in comparison to Bitcoin.

While Ethereum is a little different, you can expect a different deposit and withdrawal process. When you decide how much you want to deposit, sportsbooks will request the money from you once you submit, instead of where you’d send your money to our sportsbook from your crypto wallet. However, this process tends to be faster than Bitcoin.

Conclusion

We can’t tell you which one is the best out of the three outlined above – they all have their own benefits. We can give you the above information and help you make an educated choice – one that will undoubtedly be a great choice, whichever one you choose.

To keep learning about Bitcoin and cryptocurrencies visit our Cryptocurrency Classroom

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