Cryptocurrencies are the great payment solution for online gambling. Bitcoin gambling can prove this with its thriving industry and potency in the market. In contrast with conventional payment methods wherein long waiting times are needed to deposit and withdraw money, alternative coins made deposit and withdrawal processes fast and easy as 1, 2, and 3. The procedures of sending and receiving payments are just the same in doing transactions with bitcoins. Whether you are using Litecoin, Dogecoin, Feathercoin, or whatever alternative cryptocurrency you prefer, peer-to-peer technology is used.
A crypto coin (or cryptocurrency) is a medium of trade utilizing cryptography to secure the transactions and to control the production of new units. The main cryptocurrency to be made was Bitcoin in 2009. From that point forward, various cryptocurrencies have been made.
Here are some of the Alternative Cryptocurrencies you might encounter in different business online transactions.
Dogecoin (DOG) is a cryptocurrency derived from Litecoins. You can always know more about Litecoin gambling. What makes this digital coin interesting is the fact that it uses a dog character from ‘Doge’ Internet meme as its symbol. More than that, just like any other alternative cryptocurrency, Dogecoin is created to reach a ‘broader demographic’ than bitcoins.
Litecoin is a peer-to-peer cryptocurrency inspired by Bitcoin. Similar to the latter, it allows anonymous and instant payments to anyone in the world in addition to the fact that it has no central authority; however, it is regulated and distributed through consensus in protocol by the Litecoin Network. Furthermore, Litecoin is considered the second-largest alternative cryptocurrency by market capitalization next to Bitcoin.
PPCoin (PPC) or PeerCoin is another Bitcoin-derived cryptocurrency. It is known as the first digital currency that is based on an implementation of a combined proof-of-stake (PoS) and proof-of-work system (PoW). Recently, Peercoin is the considered the 5th largest cryptocurrency in terms of market capitalization estimates.
Primecoin (XPM) is a peer-to-peer open source cryptocurrency inspired by Bitcoins. However, you will be amazed to know that the developer of Peercoin, Sunny King, is also the one created this digital coin. It implements a scientific computing proof-of-work system that searches for chains of ‘prime’ numbers. Primecoin is the 10th largest cryptocurrency based on Coin Market Cap.
In addition, getting alternative coins is plain and simple. Just like Bitcoins, you can acquire them in trading exchange markets. Cryptsy is the most popular trading platform for altcoins. On the other hand, mining and faucets are also an option to get alternative cryptocurrencies.
If you think that there are only few Bitcoin games sites accepting alternative coins, you are wrong. There are plenty of them and they are present in every corner of the cyber world. You can surely enjoy the fun of betting using altcoins in your favorite casino games, sporting events, and even lottery games. In fact, there are many gambling options to choose from so you can definitely let your gaming palates decide.