Cryptocurrencies, or digital currencies, are taking over as one of the newest popular payment methods used in the online gambling world. Who hasn’t been flooded with information about Bitcoins and how online casinos are increasingly adopting them as payments? Well, there’s a slay of new virtual currency everyone is talking about, Alternative Coins, or simply known as Alt Coins and many live dealer and casino operators are more and more considering them as another official payment method. You can visit online casino from 22Bet to see which cryptos are more common or have a look at which Alt Coins are already circulating in the article below.
Launched in 2015, it is now the second-largest digital currency after Bitcoin. The Cryptocurrency is a platform that enables smart contracts, Blockchain and decentralised Applications to operate without any interference from third parties. This way, Ethereum is fraud, risk-free and guarantees secure and fast transactions. Ethereum (ETH) has presently a token value of around $142.54.
In circulation since 2012, this virtual currency allows real-time and affordable international payments and transfers. Despite Ripple XRP uses a decentralised protocol like Bitcoin, it is different from any other Alternative Coins or other Bitcoins. Its tokens were pre-mined before the launch, meaning that they won’t be created again, but they can only be introduced and removed according to the network’s strategies. Ripple’s market value is currently over $48 billion.
The peer-to-peer Cryptocurrency emerged in 2013 as an internet meme to make fun of the growth of Alt Coins and to see if an alternative to Bitcoins was actually feasible. Starting as a joke or not, Dogecoin has quickly become a micro tipping virtual currency awarded to social media and online communities’ users when they post smart and interesting content on their channels. It has also become a must in any crypto online casino.
Launched in 2016, ZCash is based on the Zerocoin Protocol called ZCash, a decentralised and open-source Cryptocurrency that excels for its, secure, private and anonymous transactions, provided that users opt-in for the privacy settings when filling in their profile information. ZCash is almost identical to Bitcoin as it has 21 million coins that are currently into circulation.
Created in 2011, Litecoin is one of the first virtual currencies to compete with Bitcoin, both . A creation by Charlie Lee, an MIT graduate and former Google engineer, Litecoin is based on an open-source international payment network that is not controlled by any central authority and uses “scrypt” as a proof of work. In 2020, Litecoin has a token value of around $46.92.
Launched In 2014, Monero is another secure, private and untraceable cryptocurrency similar to Bitcoin. It has a strong focus on decentralisation and scalability and it enables complete privacy and anonymity by using a special and advanced technique called “ring signatures.”Monero’s current market value is $2.1 billion USD.
Stratis is an open-source Blockchain aimed at individual businesses. Stratis was founded in 2016 by Chris Trew and raised $600,000 by July 2016. This crowdfunded virtual currency stands out not only for its possibility of creating private chains and decentralised applications but for its highly customisable smart contracts and free initial coin offering (ICO) platform for businesses.