Which Alt Coins Can You Use To Play Live Casino Games?
First we will provide a brief description of each of the main Alt Coins available in the market today. There are literally hundreds of Alt Coins in existence, but only a select few are regularly traded and used as valid payment methods. It is only when an Alt Coin becomes widely popular and circulated (like Bitcoin), that it will see a greater usage and acceptance. Listed below are the current main Alt Coins together with a short explanation of how they work:
Ethereum – Ethereum is a form of Cryptocurrency that is based on smart contracts and Blockchain technology. The idea behind Ethereum was to create a system and currency that anyone could use that would provide security, non-repudiation and fast transactions. Ether is the currency that fuels the Ethereum network.
Dogecoin – This cryptocurrency was actually started as a joke currency - the original creator, Billy Markus never intended for it to explode in popularity as it has. He merely wanted to investigate if an alternative to Bitcoin was viable - hence the slapstick name and mascot (Surely you have seen the beloved Shiba Inu Dog?). Dogecoin’s main use is as a tipping currency – users will tip others Dogecoin for noteworthy content or achievements.
ZCash – Zerocoin Protocol or Z Cash is a cryptocurrency that aims to provide a greater level of security and privacy than Bitcoin. ZCash was first released in 2016 and has received steady traction since. Bitcoin Cash - Bitcoin Cash is a hard fork of Bitcoin. This cryptocurrency is essentially the same as Bitcoin but will add a further 21 million coins into circulation.
Litecoin – This cryptocurrency was originally a spin-off of Bitcoin and is one of the earliest digital currencies in existence. Litecoin use similar protocols and processes to Bitcoin, and the currencies current market cap is over 6 billion USD.
Ripple – Also known as the XRP ledger, Ripple was originally a payment protocol. Ripple uses a decentralized open source protocol to process transactions much like Bitcoin. Ripple has a large share in the crypto market with over a $48 billion USD market value.
Monero – Also known as XMR, Monero is an open source cryptocurrency. This currency uses similar processes to Bitcoin such as Proof of Work and decentralisation. The current market value of Monero is $2.1 billion USD.
Stratis – Stratis was started via a crowdfunding operation and was mainly created to serve the financial industry. This currency system used Blockchain technology, and users can create their own private blockchains for business use.
Dash – Dash Coin is a fork of the Bitcoin software and uses the same protocols and procedures. It was originally known as Darkcoin and has been used extensively in various different countries.
Peercoin – This cryptocurrency like many Alt Coins uses much of the Bitcoin processes and source code.
One major difference however, is that Peercoin has no coin limit – there can be a limitless supply of this currency in circulation unlike Bitcoin’s 21 million cap. Neogas – NEO is predominantly a Chinese cryptocurrency and platform developer for use in Asia.
This application is similar to Ethereum, but coins are not mined – 100 million NEO coins were simply released into circulation during its initial offering. As you will find out below, many of these Alt Coins are available as forms of payment on various online casinos. For example, casinos that use the Softswiss platform such as mBitCasino and Bitstarz all accept the main forms of cryptocurrency (Bitcoin, Ethereum, Litecoin), together with some Alt coins too.