BITCOIN

Bitcoin, launched in 2009, is a decentralized cryptocurrency. It makes instant payments between people or businesses using peer-to-peer technology. In addition to the fact that it can not only be bought, but also used as a currency, it is also one of the most popular cryptocurrencies today and the main object of investment.

Bitcoin is a so-called digital currency that can be stored electronically in a digital wallet. It is unlike any form of paper money such as dollars, yen or euros and is not controlled or regulated by monetary authorities or central banks.

Bitcoin as a payment method is usually faster than traditional online payments and much cheaper. On our Bitcoin Payments page, we’ll walk you through the basics.

Litecoin

Litecoin is another cryptocurrency that operates on a peer-to-peer network. She was created by Charlie Lee in 2011. There are a number of similarities between it and Bitcoin. In fact, the original Bitcoin source code is the basis for Litecoin. Litecoin was designed to be used in less expensive transactions. This made it more efficient for daily use. Compared to Bitcoin, it also made transactions cheaper and faster.

This is because Litecoin has a much higher market value and a faster mining process. Using the same blockchain technology as Bitcoin, the record of each transaction creates a public ledger and also allows the digital currency to be protected from censorship or government control.

Ripple

Ripple is one of the most unique cryptocurrencies as it also functions as a payment network for financial transactions. It was first introduced in 2012 and was founded by Jed McCaleb and Chris Larsen. Its main procedure is the exchange of assets for payment settlements and the money transfer system. It is similar to the SWIFT system, which is used for international security and money transfers.

This system is used by banks and financial institutions in many currencies. Ripple uses a consensus mechanism to confirm transactions, not digital mining. These transactions are confirmed in seconds, require less energy than Bitcoin, and cost less. Learn more about using Ripple as a payment method. Make deposits and withdraw casino winnings with Ripple.

Ethereum

Ethereum, like Litecoin, is a decentralized public ledger for recording and verifying digital transactions. Network users have a wide range of options on the platform. They can create, publish and monetize apps using cryptocurrencies as payment. In industry slang, the network’s decentralized applications are called “dapps”. Users pay various fees called “gas” to use dapps.

This is because they require different amounts of processing power to run. Recently, only Bitcoin has a higher market value than Ethereum. Check out our Ethereum Payments page to learn more about using Ethereum in an online casino.