Which Cryptocurrencies Are Best for Gambling Online in Singapore?
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Online casinos have swept through the world like a storm, and Singapore has been no exception. The state has seen a huge influx of online casino sites in recent years, and many of them come with brand-new and exciting features. Even though officially online gambling is banned in Singapore, offshore casinos offer their services to players from the state.
The best Singapore online betting sites offer plenty of bonuses and promotions, thousands of games, and safe and secure payment methods. While many players ignore the importance of fast payment options, they’re vital for a proper online gambling experience. In recent times, more and more casinos have been jumping on the crypto hype train. And rightfully so. Cryptocurrencies are fast and very easy to use, and considering the number of people that own cryptos in Singapore, it’s no wonder why they’re so popular in casinos.
Why Are Cryptocurrencies So Popular?
Unless you’ve been living under a rock, you’ve surely heard about Bitcoin and Ethereum. The two biggest names on the cryptocurrency market, both have soared to incredible heights in 2021. By many accounts, Bitcoin is just as worth, if not more than gold. This is a big win for cryptocurrencies after the 2017 bubble burst that all but made them obsolete. With financial instability and inflation rampaging traditional markets, people are looking for promising assets to invest in.
The price of cryptocurrencies is much more volatile than gold or crude oil. That’s a big problem for governments and financial organizations, yet it doesn’t faze investors around the world. Everyone’s willing to invest in Bitcoin instead of trading stocks or investing in bonds or gold. Even people who have never invested money in anything before are pouring money into cryptos now. Bitcoin has infiltrated nearly any aspect of our lives, including gaming online.
Online casinos have been looking for reliable payment methods with fast transactions for a while. E-wallets were and still are a great option, but they can’t compete with the speed Bitcoin offers. Deposits made with cryptos in online casinos are instant, and so are withdrawals for the most part. Fees are almost non-existent. The blockchain is a piece of technology that’s perfect suitable for the online gambling market, offering fast and safe transactions.
Cryptocurrencies are not just another payment method in online casinos. They aim to completely revolutionize the market, and so they will in the future. If you’re looking for the best cryptos to play in online casinos, check our list below.
Bitcoin
The world’s leading cryptocurrency by market volume and popularity, Bitcoin is the most commonly used crypto. It’s available across all crypto casinos and can easily be bought on legit exchanges such as Binance. Its price is 10 times higher than the second cryptos on the list, Ethereum. Bitcoin is the world’s first cryptocurrency that started the trend. It offers fast deposits and withdrawals and a price over $50,000, which no other crypto will reach anytime soon.
Of course, the main problem is that it’s highly volatile, but that’s the trade off for the price. Still, it remains a highly popular payment option in online casinos, and that won’t stop anytime soon.
Ethereum
Ethereum was first thought of as a Bitcoin killer, but it never really became that. That wasn’t its purpose at all. By ‘fixing’ some of the original Bitcoin mistakes and adding features such as smart contracts, it’s in a league of its own. Currently the second-most valuable cryptocurrency in the world, it’s a very popular crypto to use at the best online casinos in Singapore.
It’s fast, can be used with ease, and most importantly, many altcoins are built on an ETH network. The gas (transaction) fees are a bit higher than expected, but if you own a lot of Ether, that shouldn’t be a problem.
Litecoin
Another coin that exceeded all expectations, Litecoin is a very popular crypto in Singapore casino sites. Most sites will accept Bitcoin, Ethereum, and Litecoin deposits all in tow, so you’re welcome to use the one you want. The great news is that just like the others, Litecoin is a fantastic option for online casinos.
It allows instantaneous deposits and withdrawals for much lower fees when compared to Ethereum. If you invested in it years ago, you’re probably reaping the benefits of Litecoin’s record price now.
Ripple
Ripple is a cryptocurrency, but also a stablecoin. Stablecoin’s have a 1:1 price ratio with USD, so it’s always worth $1 (with small variations). This is the best crypto to use in Singapore online casinos if you want to use cryptos, but are afraid of the volatility. You can buy XRP for dollar a coin, and connect your wallet to the casino for fast deposits and withdrawals.
All on the blockchain, of course, so you won’t have to worry about the security.
