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27 June, 2024

The Most Popular Cryptocurrencies for Online Casinos in 2024

It would be an understatement to say that the integration of cryptocurrencies has become a game-changer in the iGaming industry. It’s hard to get exact figures, but some estimates have pegged the crypto iGaming market size at $250 million USD. These digital currencies offer players enhanced security, ease of use, and swift transactions, making them a preferred choice for many players. As the crypto market continues to expand, several cryptocurrencies have emerged as favourites within the online gambling community. In this article you’ll learn about the most popular cryptocurrencies for online casinos in 2024 and why you should incorporate them into your operation.

Bitcoin (BTC)

Bitcoin, the first and most well-known cryptocurrency, remains the leading choice for online casinos. In fact, the world was first introduced to Bitcoin casinos in 2012 with the origin of SatoshiDice. Since then, Bitcoin’s widespread acceptance, robust security, and high liquidity have made it an ideal currency for crypto casino software providers, iGaming players, crypto enthusiasts, and operators alike. Bitcoin casinos have the ability to process transactions quickly, ensuring that players can deposit and withdraw funds with minimal delay. Moreover, the transparency of Bitcoin’s blockchain provides an additional layer of security, which is highly valued in the online gambling industry. It should go without saying, but as a crypto casino operator Bitcoin should be at the top of your list of accepted cryptos.

Ethereum (ETH)

Ethereum, or ETH, is the second largest digital currency by market cap and is widely regarded as one of the most popular cryptocurrencies for online casinos. It stands out due to its smart contract functionality, allowing for more complex and versatile applications within online casinos and other dApps. ETH and other tokens built on the Ethereum network also allow for on-chain betting, which is an innovation that is sure to disrupt the iGaming landscape in the years to come. These smart contracts enable decentralized games and automated payouts, creating a unique gaming experience for next-generation players. Ethereum’s popularity continues to grow as more online casinos integrate its technology to offer innovative and transparent gaming options. However, you don’t need to exclusively bet on-chain with ETH as leveraging ETH as a payment rail is a common method for ETH acceptance in crypto casinos. Read more about the difference between on-chain wagering and crypto as a payment rail in our detailed breakdown.

Solana (SOL)

Solana has quickly risen to prominence in the cryptocurrency world due to its high performance and scalability. Known for its incredibly fast transaction speeds and low fees, Solana is an attractive option for online casinos looking to provide a seamless and efficient payment experience for their players. Solana has also been largely responsible for the rise of memecoins with niche communities and the rise of memecoin casinos, and has catapulted into being one of the most popular cryptocurrencies for online casinos in 2024. As the online casino industry continues to grow, Solana’s innovative technology and expanding ecosystem position it as a valuable asset for both players and operators seeking advanced and reliable crypto gaming solutions.

Litecoin (LTC)

At its peak, Litecoin was the third largest crypto by market cap, and it still remains one of the most popular cryptocurrencies for online casinos. Litecoin was created in 2011 and is often referred to as the silver to Bitcoin’s gold. It offers fast transaction times and lower fees, making it a cost-effective option for crypto casinos. Many online crypto casinos have adopted Litecoin due to its popularity and the ease of integrating it into their payment systems. Players appreciate the quick deposit and withdrawal times, which enhance their gaming experience.

Dogecoin (DOGE)

Dogecoin has carved out a unique niche in the cryptocurrency world, characterized by its lighthearted origins and strong community support. Initially created as a joke, Dogecoin has gained substantial popularity and acceptance within online casinos.

Dogecoin’s rise from internet meme to a widely accepted digital currency reflects its unique appeal and functionality within the iGaming industry. Its accessibility, fast transactions, community support, and distinctive branding make it a compelling choice for online casino players seeking a fun and straightforward crypto gaming experience. As the crypto landscape continues to evolve, Dogecoin remains one of the most popular cryptocurrencies for online casinos looking to expand payment options and players exploring new ways to engage with online casinos.

Tether (USDT)

Tether, a stablecoin pegged to the US dollar, provides the stability that some volatile cryptocurrencies lack. This makes it a safe option for players who want to avoid the risks associated with fluctuating cryptocurrency prices, ensuring their funds retain consistent value. Online casinos that accept Tether offer players a secure and stable means of managing their funds, bridging the gap between traditional fiat currencies and cryptocurrencies by combining the benefits of both worlds. If you think about Tether as the crypto version of the US dollar, it’s easy to see why it is one of the most popular cryptocurrencies for online casinos today.

Ripple (XRP)

Ripple has been in the headlines for months now thanks to its ongoing battle with the SEC. But thanks to the fact that Ripple is another early pioneer in the crypto space, despite all the noise has maintained its status as one of the most popular cryptocurrencies for online casinos. Ripple’s primary advantage lies in its exceptional transaction speed and scalability. Transactions with Ripple are processed almost instantly, making it an attractive option for players who value speed. Its scalability also means that it can handle a large number of transactions simultaneously, which is crucial for online casinos with a high volume of users. Although Ripple is not as widely accepted as Bitcoin or Ethereum, its unique features and early market entry are driving increased adoption in the iGaming industry.

The integration of cryptocurrencies into online casinos has transformed the iGaming industry, offering players an innovative way to enjoy their favourite casino classics. As the crypto market continues to evolve, these digital currencies will grow in popularity, driving further innovation and growth in the iGaming industry.

At Lion Gaming we recognize the potential that crypto has in this industry. We’re committed to pioneering the future of online casino software and helping you stay ahead of the technology curve by incorporating the latest bleeding-edge blockchain and web3 features into our white label crypto casino software and our crypto sportsbook software. On top of that, we consistently update the list of cryptos available in our crypto casino software, and can even develop native integrations for operators who want to accept their own tokens into their platforms. Contact us today to learn more about the ways that we’ve made crypto technology a cornerstore of the Fer0x Engine powering our suite of iGaming software.

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      Our address
      Lion Gaming Group Inc.
      855 2 St SW #3500
      Calgary, AB
      T2P 4K1 Canada
      Our address
      Lion Gaming Group Inc.
      855 2 St SW #3500
      Calgary, AB
      T2P 4K1 Canada