There have been two critical ‘revolutions’ in the last twenty years, which have essentially transformed the world of sports betting and gambing. The one is the internet and more precisely the launch and growth of online bookmakers and gambling platforms and the other one is the crypto market and more precisely the launch of cryptocurrencies and the fuelled growth of crypto gambling sites, crypto casinos and crypto slots all over the world, including Germany.
Both have worked predominantly for increasing the convenience, the ease, the speed and the efficiency of gamblers, for tightening the operations and profitability of bookies and gambling establishments and for pushing the boundaries of the overall gambling ecosystem.
Cryptocurrencies Gaining The Gambling Market
With an emphasis on the crypto market and the changes that it has brought to the gambling and sports betting industry, analysts find that cryptos are slowly, but persistently becoming more and more dominant and they are gradually turning into the absolute and undisputable driver of industry growth. In fact, there is an increasing number of gambling specialists and sports betting experts that admit the future of the industry being in the use of cryptocurrencies.
The growth rate of adoption of cryptos is surprisingly high, even in countries and markets where we would not expect digital assets to thrive and penetrate in the lives of people. This is particularly true for some countries whose financial systems, economic structures and general cultural underpinnings would not- at least theoretically – constitute a supportive and fertile environment for crypto growth. But, tech-savviness and internet infrastructure are working towards this end!
And as the adoption rate increases at an impressive pace, more and more cryptocurrencies are launched into the market, trying to capture the growing demand on the one hand, and leverage the absence of a regulatory framework for digital assets at the moment, on the other hand.
The Most Popular Cryptocurrencies For Online Gambling And Sports Betting
If you are interested in experimenting with crypto gambling, you’ll find a number of different options to choose among when it comes to the cryptocurrency itself. Here, we present you with the most popular cryptos used for gambling and sports betting.
Bitcoin (BTC): It is by far the most popular crypto and this has a lot to do with the fact that it is the ‘creator’ of the market. In 2009 the first crypto ever to be launched was BTC – it disrupted the tech, the financial and the trading industries all at once. Today, bitcoin is probably the crypto that most people are aware of and the most frequently traded digital asset, both by professional and amateur, relatively inexperienced users. Also bitcoin is the crypto that is primarily used by punters.
Ethereum (ETH): Ether is the second popular cryptocurrency introduced to the market. It is also very popular and what makes it a very interesting option is that it has its unique features, the smart contracts and it is very fast and cheap – it has either no fees or in some cases very low fees. Ethereum is climbing gradually on the top of cryptos used for gambling and it is beginning to be more and more preferred by both punters and online gambling sites as a mode of transaction.
Litecoin (LTC): Litecoin was launched neary two years after bitcoin, but it took a long time to get high on the crypto users’ preferences. In fact, Litecoin is similar in its system with bitcoin, but it has a different algorithm which makes it easier to use and faster to process when implementing transactions.
Dogecoin (DOGE): despite the fact that Dogecoin was initially launched with an ironic ‘character’ to sarcastically criticize all the cryptocurrency hype, it gradually became a hype itself. It derives from Litecoin’s system technology and it has become so popular because of its speed and low fees.
Bitcoin Cash (BCH): although it is not yet to be named among the most popular cryptos, Bitcoin Cash is generally estimated that soon it will become one of the basic cryptocurrencies for online gambling, because it is cheaper to acquire and it is faster than most other cryptos due to a more efficient blockchain tech.
These are the five cryptocurrencies that you are most likely to come across in the offerings of online bookies and online gambling sites. They are reliable, safe, quick, secure and they provide numerous benefits and advantages that you can easily explore while using them!