Bitcoin: Is it Still the Best Cryptocurrency to Use at Online Casinos?

It’s clear that Bitcoin dominates the crypto casino scene—so much so that crypto casinos are often called Bitcoin casinos. However, we’ve been able to use these digital currencies at gambling sites for many years now, which made me wonder if Bitcoin is still the best option among all cryptos. Are we just stuck in a rut, using BTC simply because it's the most commonly used, or are there better options out there that are more suited to casino gaming?

Personally, I’ve been switching between a few different cryptocurrencies recently, and there are quite a few that I believe are right up there with Bitcoin. I decided to take a look at some of the other contenders to see if we’re better off using those instead of the highly volatile and comparatively slow Bitcoin.

Bitcoin (BTC) - The OG of Crypto and Crypto Casino Gaming

Before I look into the benefits and disadvantages of some of the others, let’s get a baseline of what we have to compare them to with Bitcoin.

Bitcoin is obviously the top dog, as bets made using BTC accounted for over 58% of all crypto bets placed in Q4 of 2023. However, to show how trends are changing, that is a decline of 9.4% from the same period the year before.

Reasons to Use Bitcoin (BTC) for Casino Betting

• It is the most popular cryptocurrency for casino transactions.
• Many partner websites that offer demo slots regularly get exclusive BTC welcome bonus offers.
• It has some of the lowest transaction fees.
• Bitcoin is relatively quick, with transactions taking 10 minutes on average.

Ethereum (ETH) - Faster But More Expensive

Ethereum is known as the biggest contender to Bitcoin, which is evidenced in mainstream real-world use just as much as it is in casino gambling. 17.2% of crypto casino deposits were made using ETH during the previously mentioned reporting period.

I’ve used ETH on numerous occasions and find it blasts BTC out of the water in terms of transaction times but has high network fees.

Reasons to Use Ethereum (ETH) for Casino betting

• As mentioned, transactions are lightning quick, often taking less than a minute to complete.
• For faster transactions, you pay a lot more in network fees (gas fees).
• While volatile, ETH is slightly more stable than BTC.

Litecoin (LTC) - A Compromise Between the Two?

The main thing that goes against Litecoin is that it’s far less known than BTC or ETH, and for that reason, it’s not used nearly as much as I believe it should. The cryptocurrency still accounted for 12.3% of all crypto bets placed in Q4 of 2023, however.

Litecoin boasts super-fast transaction times, and relatively low fees (especially compared to ETH), so perhaps LTC is a good compromise between the two.

Reasons to Use Litecoin (LTC)

• LTC transactions take around 2.5 minutes to complete.
• Using LTC costs 20 times less in transaction fees than ETH.

Dogecoin (DOGE) - The Unseen Crypto Casino Giants?

You’ve probably noticed a trend here, but the lesser-known the cryptocurrency, the bigger the benefits they seem to have for crypto casino gaming. Just 5% of crypto bets were placed using DOGE, but in terms of speed and cost, it's the best so far.

Reasons to Use Dogecoin (DOGE)

• Has similar (if not better) transaction speeds than ETH with most completed within a minute.
• The Blockchain fees involved in sending $50 worth of DOGE would cost less than a tenth of a penny.

Stick with What You Know or Twist for Better?

I get it, Bitcoin is where the cryptocurrency world began, but sometimes I think we’re blinded by loyalty, familiarity, or even fear when it comes to crypto. The above are just a handful of the more common cryptocurrencies we can use at online casinos, and there’s an argument that all are a better option than BTC. If you’re not convinced, try a few out for yourselves. I think you’ll be surprised at the savings you could make in both transactions and time costs.