We cannot talk about the emerging technologies in the modern world and fail to mention blockchain and cryptocurrencies. The benefits of blockchain, such as security, decentralization, and fast transactions, are why many industries are quick to adopt this technology and its applications, such as crypto.
The online gambling bitcoin sector is also enjoying some of these benefits, and you will find games based on blockchain and also the application of cryptocurrency for gambling. What are some of the most famous cryptocurrencies you are likely to find in a Polish online casino? We were lucky to link up with Klara Czerwinska (check profile), who listed the following cryptos:
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Bitcoin
It was the first cryptocurrency to be introduced more than a decade ago and one of the most used online casinos that accept crypto. According to its whitepaper, this casino cryptocurrency was built to give power back to the people through the elimination of intermediaries. Acceptance of Bitcoin was low in the past, but now people understand it and its technology.
However, the whole concept behind Bitcoin has evolved over time, and now some people hold the digital coin as an investment option. There are hundreds of exchanges where Polish players can buy Bitcoin for fiat currency and use it to gamble on various platforms. The best slots casino for real money in Australia.
Litecoin
Litecoin was created to overcome some of the challenges of Bitcoin. Essentially, Litecoin can handle transactions 4 times faster than Bitcoin and still provide the benefits associated with cryptocurrencies. Polish players can thus use Litecoin on any of the ruletka online na pieniądze sites that accept it and play roulette online.
The beauty of Litecoin is that it is available on various exchanges as it is one of the major currencies. Litecoin is also cheaper than Bitcoin, and users do not have to worry about having loads of money.
Ethereum
It is the 2nd most expensive coin after Bitcoin and is also available in most crypto casinos in Poland. Ethereum introduces some functions such as smart contracts that are unavailable in Bitcoin. Thus, the platform can hold coins until certain conditions are met and thus reduce the chances of losing funds.
On top of being a transactional coin, casino users are also using the Ethereum blockchain to streamline transactions and enhance security. The speed of transactions that comes with Ethereum is one of the reasons why such platforms are preferring it.
Dogecoin
Billy Markus and Jackson Palmer created dogecoin as a joke as they were making fun of the wild speculation on cryptocurrencies. However, it would later become one of the biggest cryptocurrencies even though it still bears the Shiba Inu dog as its logo.
The “fun and friendly internet currency” is one of the most used in Polish online casinos that accept crypto. The coin was officially launched on December 6, 2013, and there were more than 1 million visitors to its website in less than 30 days. Dogecoin has a limit of 100 billion coins and can be found in major exchanges.
Bitcoin Cash
Many people get confused and cannot tell the difference between Bitcoin (BTC) and Bitcoin Cash (BCH). The latter was created in 2017 through a fork from Bitcoin after some of the community members failed to agree on some issues. BCH was created with bigger block sizes and thus enabled faster transactions. Even though Bitcoin Cash does not hold as much value as Bitcoin, the former is also available in most crypto casinos.
Dash
Dash is another cryptocurrency that was forked out from Bitcoin to offer safer and faster transactions. According to the Dash website, the platform allows you to move money anytime and anywhere in seconds and for less than a cent. Dash has seen loads of name changes as it was launched in 2014 as Xcoin before it was rebranded to Darkcoin. However, the name Darkcoin was associated with the dark web, and the community finally settled at Dash. The fact that Dash transactions are fast and cheap makes Polish casinos love it.
Ripple
Ripple technology doubles up as a digital payment network and a cryptocurrency. Some financial institutions have already adopted the digital payment network created by Ripple to make transactions more secure and fast. On the other hand, Ripple (XRP) as a digital currency is available in most exchanges, and internet users can gamble online.
Monero
Monero was created in 2014 and is now among the most used digital coins in casinos. Monero is fungible, which means that the involvement of a previous transaction does not affect the value of other coins. Monero relies on proof-of-work consensus and is loved for its privacy. Proof of work refers to a situation whereby it must be proved that some work or movement was noted before the transaction is confirmed.
Not all Polish casinos accept crypto payments as some are rigid and still fear the price fluctuations associated with digital currencies. However, most of those that have incorporated this mode of deposit and withdrawal offer lucrative bonuses and promotions to entice more users to use it. We can only remain hopeful that more online casinos will allow crypto in the future.