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Recently things have started to change in the online casino industry, based on the implementation of cryptocurrencies, as a payment method. In the last few years, the reputation of cryptocurrencies has shown remarkable signs of providing positive opportunities for Canadian online casinos. That’s not all because, among other cryptocurrencies, Bitcoin is still at the peak with its unmatchable market rate.
It’s not everyone knows about Bitcoin in the past, but things are quite different today. The rapid increase of Bitcoin Price value to reach $50,000 has attracted the attention of anyone around the globe. Due to these breakthroughs associated with the utilization of cryptocurrencies, the online casino industry found it beneficial to implement the blockchain network.
Here’s a list of 6 cryptocurrencies used in online casinos:
Bitcoin (BTC)
Bitcoin is often referred to as an investment tool, instead of a payment method. But according to the online casino industry, it serves as a payment method. Nowadays, Bitcoin is among the leading payment methods among other cryptocurrencies.
Monero (XMR)
Even though Bitcoin has huge popularity when it comes to investment, Monero is also a rival for making online casino payments in any casino Canada. Using Monero for making payments to online casinos in Canada is safe and secure. It hides the details of the payee, which is similar to the use of other cryptocurrencies in making payments. Monero makes use of the blockchain network to provide adequate security. With this amount of benefits, the implementation of Monero as a payment method in Canadian online casinos is rapidly increasing.
Dash
The use of Dash as a payment system by online casinos in Canada is getting popular. Considering the features of Dash, which gives businesses the ability to send coins with two options known as InstantSend and PrivateSend. The name explains it all because with Instantsend the transaction is confirmed in seconds. Meaning that users won’t have to wait more than a few seconds for their transaction to be processed. Whether withdrawing or depositing in any online casinos in Canada.
When it comes to Privatesend, the transaction is securely processed without a trace in the blockchain network. Though, it takes a longer period for transactions to be confirmed. Dash is known to have different varieties of exciting features, which makes it interesting as a payment method for Canadian online casinos.
Litecoin (LTC)
Litecoin is popularly known around the globe. Most investors in Canada do regard Litecoin to be the second-best after Bitcoin. However, Litecoin has a lower price rate but fast confirmation time. So, no matter the type of transaction performed through Litecoin, it will only take a few minutes to be confirmed. And the fee is very low, unlike other cryptocurrencies. According to the view of Michelle Thomas, as an expert in guest post topics, the transaction fee of Litecoin can reach a lower value of a few cents.
Bitcoin Cash (BCH)
Bitcoin cash was created with the aim of making transactions a bit faster with increased block size. Bitcoin cash is regarded as an alternative to Bitcoin. However, the price is much lower than the rate of BTC. So, Bitcoin cash is a better alternative when completing a huge transaction. For online casinos in Canada, Bitcoin cash provides a better opportunity of reducing the transaction charges.
Ethereum (ETH)
A lot of people are familiar with Ethereum, which is often through its innovation known as a smart contract. With Ethereum, users can safely conduct transactions at a low transaction fee. For online casinos in Canada, it’s the perfect choice for making and receiving payments.
Conclusions
The top 6 cryptocurrencies offer online casinos in Canada lucrative payment options. Each cryptocurrency offers unique features that differentiate it from other coins.
