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Cryptocurrency News

Popular Cryptocurrencies for Sports Betting

Introduction – Crypto Sports Betting

Cryptocurrency is becoming one of the most common means for anonymous transactions online, especially when it comes to online gambling or wagering at various platforms across the industry. The surge in the number of users in recent times has given rise to various cryptocurrencies that are now being used as the primary or the only modes of exchanging funds at most of the online gambling platforms.

This wagering industry includes sports betting with crypto, where the users can bet on the outcomes of live sports events and try their luck with the help of crypto assets or altcoins that they possess. 

Popular Crypto for Sports Betting

While there are hundreds of cryptocurrencies and decentralized assets that are in the circulation around the world through their respective blockchains, only a few of the alt coins are popular for sports betting as well as gambling and the list of accepted currencies at most of the platforms is not as diverse as the industry itself. 

  • Bitcoin Sports Betting

Bitcoin is the single most popular cryptocurrency at a given time, and the reputation of the currency certainly makes it a common choice. BTC sports betting can be done through numerous platforms. There are several sports betting platforms that accept Bitcoin exclusively due to the acceptance that the currency is gaining.

  • Ripple Sports Betting

Similar to Bitcoin, Ripple is also one of the popular choices. Ripple offers various benefits due to its underlying architecture, which is also a reason behind its recent success.

  • Ethereum Sports Betting

Being the second most valuable currency in the market by capitalization, Ethereum is likely to be the people’s choice for sports betting after Bitcoin. The ETH blockchain and its ERC-20 & ERC-71 tokens provide additional features that BTC lack, and this has resulted in a growth rate for Ethereum that is unrivaled even by Bitcoin itself.

  • Tron Sports Betting

Tron refers to both the altcoin and the money transfer protocol that aims to decentralize the web and provide open access to all users without compromising on their anonymity. While sports betting with Tron can be more cumbersome due to the lack of support at platforms on a scale that BTC and ETH experience.

  • Bitcoin Cash Sports Betting

Sharing its name with the most popular altcoin, Bitcoin Cash is starting to get supported by more and more platforms every day. Due to the difference in value, BCH is more easily accessible and lower in value, making it a good option for users who do not wish to invest great sums in sports betting.

  • Dogecoin Sports Betting

Supported by one of the tech giants of the industry, Dogecoin is an asset that is only now beginning to make the list of supported assets post the endorsement of coin by various industry leaders. Created as an internet meme, the coin has gained substantial value and a huge following that is driving its support forward. 

  • Litecoin Sports Betting

Litcoin sports betting has one major advantage, i.e., the minimal latency for the transfer of currency. The LTC blockchain is much more efficient than some of the assets on this list, which is favorable for gamblers looking for quick and easy transactions without dealing with extensive network traffic.

  • Stellar Sports Betting

Stellar sports betting is done through Stellar Lumens. While Stellar is used as a medium to exchange fiat currencies to crypto assets, it is starting to be used for paying on gambling and sports betting platforms, and this makes it usable by the users who have spare Stellar Lumens left in their crypto wallets.

  • Tether Sports Betting

Tether is one of those assets that are accepted across several countries, albeit the use of this asset does not imply the allowance to use it for online gambling. Tether sports betting comes with a unique feature which is that it can enable users to bet without limits.

  • Binance Coin Sports Betting

Binance is one of the largest cryptocurrency exchanges worldwide and their own asset; Binance Coin shares the popularity and the convenience as delivered by the exchange. Binance coin (BNB) can be purchased from the exchange itself, and since the coin is offered by the brand itself, it does not come with unforeseen charges to access the coin.

  • Cardano Sports Betting

Cardano is a blockchain platform that is open to the public and has peer-to-peer transactions. It is usually preferred in the regions where other altcoins are unavailable or one is looking for proof of stake for the transactions.

Sum up

Gamblers who are venturing into the market of online gambling have a plethora of options to choose from based on their payments and wagering. Although not all regions support every asset, most of the platforms accept a majority of the aforementioned assets, and each of these assets come with their own USPs (unique selling points). It is strongly advised to understand and be mindful of one’s specific needs as well as preferences before investing money in purchasing or converting to any particular cryptocurrency for sports betting.

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