Popular Blockchain Networks for Deposits on Crypto Betting Sites

It’s beyond mere doubt that the blockchain network is greatly revolutionizing the way betting is done in the world. Today, with the rising number of crypto betting sites, bettors no longer need to carry fiat currencies around. However, it remains to have a gambling atmosphere where everything is fully crypto, and this is worrisome. 

This is exactly an issue because some bettors rely on the fiat payment system that blockchain networks came to replace. And that’s primarily due to a mistaken belief that blockchain can only offer bitcoin for deposits on gambling sites.  Well, this isn’t the true state of things, which is why we provide you with the most popular blockchain networks. You can find more at  CryptoBetting. 

Blockchain Networks Moving the Betting Industry

Below are popular networks utilized by crypto betting sites

Bitcoin (BTC)

Bitcoin is the number one blockchain network not just for gambling, but across all sectors requiring an exchange. It was the first digital currency to open our minds to the undeniable beauties of the blockchain network. With thousands of ATMs across the world, Bitcoin has only increased in reach, penetration, and growth around the world. 

Bitcoin is also the first cryptocurrency to receive a nod from betting sites, having started with European betting sites. The relevance of this blockchain network has been increasing rapidly as it currently has a market value of over $1 trillion. The good thing about this network is how it’s been at an all-time high in recent times. 

Interestingly, many bettors have even been merging different strategies involving different networks to keep betting pretty well. For instance, betting on high-risk games with bitcoin and medium-risk games Litecoin has helped to reduce wide losses while betting.  

Ethereum (ETH)

Ethereum is a blockchain network that operates on a decentralized level that applies smart contract options to transactions. In terms of market capitalization, Ethereum is the second-largest cryptocurrency that operates within the blockchain network. Initially released in 2015, Ethereum became a sensation in the betting world 2016 after it was adopted by betting sites.

It has a volume of 115 million in circulation, with a current market cap of $454 billion. Just like other blockchain networks, Ethereum allows you to perform transactions in a secure way. So this means that your transactions on the betting site have double protection: one from the site and one from the blockchain. 

You only need to ensure that you guard your Ethereum wallet carefully. 

Bitcoin Cash (BCH)

Bitcoin Cash is a blockchain network that split from Bitcoin with subtle nuances making it distinct. Bitcoin Cash is one of the highest adopted blockchain networks, having over 18 million in circulation as of when writing. As a fork of Bitcoin, Bitcoin Cash seeks to provide faster transactions than Bitcoin to bettors when betting. 

In this regard, Bitcoin Cash has up to 32MB blocks, which makes it possible for huge transactions to be performed across the network very quickly. As a bettor, you will be safe playing with Bitcoin Cash too on some of our listed crypto betting sites. 

Tether (USDT)

Tether was initially launched as RealCoin in July 2014 but changed its name in November that year. Tether has pulled a reasonable force in the blockchain network since it started trading in 2015. With millions of daily trading volumes, Tether has gained a spot in many betting sites around several parts of the world. 

Tether has its value attached to the US dollar, which is why it is called a stablecoin. This means that it encourages smart contracts. You can deposit and withdraw your funds via USDT on several betting sites. You only simply have to follow the process on the site. 

Chainlink (LINK)

When you bet at many crypto-accepting sportsbooks, you will find that Link is one of their top blockchain options. This is because Chainlink has maintained its interoperability with the decentralized real-world data, providing fast end-to-end transaction speed. You can use it to process your deposit on most of these hybrid and crypto-only sites. 

But in doing so, you need to ensure you have your passwords saved in hot and cold wallets. 

Dash (DASH)

Dash is an independent blockchain network that came to existence from the perceived need to provide an alternative to the bitcoin network. DASH has a system of an interconnected subset of users known as masternodes. With many sports betting sites sprouting on the daily, DASH has become available for deposits and withdrawals. 

Much like other networks, its system is encrypted allowing for highly protected transactions on and off betting sites. 

Pax Gold (PAXG) 

Pax Gold is the first regulated blockchain network backed by gold in the USA. The blockchain operates on the Paxos blockchain network which also operates the Paxos stablecoin. Given it was launched to provide sound transactional services to persons, corporations, and businesses, PAXG has grown in relevance recently. 

Even though it’s relatively younger than other top blockchain networks, it has still managed to be approved by some crypto-accepting sites. Interestingly, betting with PAXG has helped increase the overall appeal of the digital coin in recent times. Who would have imagined gold would align with betting anytime soon? It’s here, so embrace it. 

Dogecoin (DOGE)

Dogecoin is a cryptocurrency that operates on its own blockchain network, having been launched in 2013. Dogecoin was created as a result of the need to have a payment system that thrives outside bitcoin or other casual banking systems. And the goal was anchored on eliminating high fees for transactions. 

Notably, this goal of reducing fees charged on transactions has remained the standard, alongside pretty fast transactions. A number of sites have begun to offer Dogecoin in their crypto options, making room for bettors who love superfast bulky transactions. If you’re one of such bettors, then Dogecoin is specifically for you. 

To say that blockchain is taking over the industry is an actual injustice to what this super-digital system has done. At present, we are gradually getting to a point where fiat currencies will likely fizzle out of the industry. It means that this new normal is much on course to becoming the accepted norm for betting. What are you waiting for? Make a selection of your preferred blockchain network and enjoy smooth and seamless betting today.

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