Cryptocurrency has revolutionized the online gambling world
The Most Popular Cryptos Used in Sports Betting
"Its numerous advantages, including security, speed, privacy, and low fees, have made Crypto Bookies a preferred choice for many bettors."
Choosing the right cryptocurrency can enhance your online sports betting experience significantly
What is the most used cryptocurrency for Gambling?
In our series of articles we will have a closer look at Bitcoin and some of the most commonly accepted altcoins from crypto bookmakers and casinos incl. ETH, LTC, DOGE, XRP and USDT.
Which of these popular cryptocurrencies do you plan on using for your sports bets? We help you make the perfect choice to enhance your Crypto Betting experience.
A Closer Look at the Most Popular Cryptocurrencies Used in Sports Betting
At bestcryptobookies.com we had a closer look at the global crypto market, which has grown exponentially in recent years, reaching new heights in terms of market capitalization, number of coins, and user adoption and what impact that actually had on the acceptance of cryptocurrencies by online bookmakers.
In April 2021 the crypto market cap hit the $3 trillion mark in 2021 (which marked the All-Time-High), up from $12 billion in 2014. However, the total crypto market cap dropped to $835 billion in December 2022, down 62% from its peak in April 2021. Then in 2023 the crypto market started to recover again and rose to $1.5 trillion in June 2023, up 80% from its low in December 2022.
The number of coins meanwhile increased from about 100 in 2014 to a record number over 12000 in 2021 and stands as per today (June 2023) at around 9000.
Together with the exponential growth of the global crypto market we also saw a rapid rise of cryptocurrency usage in the online casino and sports betting world, and meanwhile there should not be any doubt anymore that crypto gambling and crypto sports betting is here to stay.
As explained in our article on the rewards of crypto sports betting, a growing number of gamblers are opting to use digital currencies, like BTC, ETH, LTC, DOGE, XRP, and USDT, over traditional fiat currencies for a myriad of reasons, including increased security, quick transactions, and anonymity. According to a survey by Finder, 14% of Americans have already used cryptocurrencies to gamble or bet on sports in the past year, while 36% are interested in doing so in the future.
So the boom in crypto usage has definitely sparked curiosity in gamblers worldwide and there are no signs that this trend would reverse, prompting the question that we are trying to answer in our second cornerstone topic:
What are the most used cryptos for gambling?
Bitcoin: BTC is by far the most popular and widely used cryptocurrency, offers anonymity and has low transaction fees.
Litecoin: Litecoin is a popular cryptocurrency and attractive option for gamblers due to its low transaction fees and fast confirmation time.
Dogecoin: Dogecoin was created as a joke currency but has since become increasingly popular with gamblers due to its low transaction fees and fast processing time.
Ethereum: Ethereum is the second largest cryptocurrency by market cap after Bitcoin, and its smart contracts capabilities and decentralized applications (dApps) make it a popular choice for online gambling.
In this series of articles we will have a closer look at Bitcoin and some of the most commonly accepted altcoins from crypto bookmakers and casinos incl. ETH, LTC, DOGE, XRP and USDT.
For each of the coins you will find:
- A Conclusion
- recommended bookies that accept the respective coin
Which of those popular cryptocurrencies you use at the end of the day for your sports bets is entirely up to you.
However, the team at bestcryptobookies.com hopes that our series of articles helps you to make the right choice as we have experienced that this can enhance your online sports betting experience significantly.
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