Cryptocurrencies are continually taking a stronghold in the iGaming sector by providing players with flexible payment methods. However, more recently, the crossplay between these two industries has been solidified by crypto coins that are more practical for players.Â
Digital tokens and blockchain ecosystems developed specifically with online gambling in mind create a more suitable environment to safely place bets and play casino games. Specialized platforms further provide a suitable environment for them beyond the hurdles of traditional financial systems.
One of the notable digital assets that stand out in merging gambling with blockchain technologies is the BitTorrent Token, which has found its place in the iGaming niche. This token is built on the BitTorrent file-sharing protocol to facilitate decentralized betting platforms without the need for a centralized network.Â
Although this blockchain network is quite unique and works on peer-to-peer casinos, it’s an addition to the more popular online casino instant withdrawal options that have taken the industry by storm due to their payment convenience and generous bonus offerings.
These iGaming platforms utilize common cryptocurrencies like Litecoin, another digital asset that is widely used for online gambling. They come with features like anonymous play, no-KYC sign-ups, making them a dream for players who value privacy.Â
One of the main reasons that contribute to Litecoin’s integration into the gambling sector is the exceptionally fast payment methods it offers. Transactions typically clear within three minutes or less with significantly lower costs that are near the zero cost thresholds.Â
This ensures that withdrawals and deposits aren’t only fast but also cost-effective, improving the overall experience for players. Likewise, Dash, also dubbed Digital Cash for Online Gambling, has very low fees and fast transaction processing timeframes to complement the fast-paced nature of iGaming.
Dash makes transaction processing quicker with payments and withdrawals clearing in under two seconds on average. Since this project was designed specifically for convenient transactions in industries like the gambling industry, the underlying technology works on enhanced liquidity. It additionally keeps both costs and turnaround times to a minimum.
Another cryptocurrency that has gained popularity as one of the projects developed specifically for the gambling industry is FUNToken. This crypto makes this sector more transparent to boost the confidence of users by leveraging the full spectrum of blockchain technology.Â
The net effect ensures that games are provably fair through verifiable records of game outcomes and bets. In these platforms, the randomness of games on all gambling options available on this platform can be undeniably proved.
To make the experience more seamless, this platform has launched a cryptocurrency that allows players to buy virtual coins that can be used to place bets and play casino games. As a utility token, FUNToken also has lower transaction fees, completing the range of standard features for the crypto gambling industry.
Lastly, Cardano is a digital asset that prioritizes eco-friendliness, making it the perfect option for gamblers who are environmentally conscious. Despite the focus on sustainability, this cryptocurrency is also reliable as it has been pegged to the USD while maintaining a measure of liquidity and transaction processing times that are under 6 minutes.