Cryptocurrency (crypto for short) has really taken off as an alternative payment method here in the past few years. Whether you’re an avid investor in crypto, or know next to nothing about the subject, chances are you’ve probably heard about Bitcoin, Ethereum, and maybe even Dogecoin. These cryptocurrencies are especially popular with traders.
You may be surprised to learn there are other forms of crypto in addition to these three. How many are there, you ask? In short, thousands. While many of these altcoins (which is a term for any digital coin that isn’t Bitcoin) aren’t worth much and will at some point undoubtedly fail, it’s hard to imagine cryptocurrency going away altogether.
We were curious to learn more about gambling with crypto in US online casinos so we could pass the information along to you.
The dawn of crypto
Bitcoin, the first decentralized cryptocurrency, was created in 2009 by a person or persons using the pseudonym “Satashi Nakamoto.” Since its inception, many altcoins have been developed in order to cash in on Bitcoin’s success in the marketplace. While some have achieved notoriety, only a few have risen to the same level as Bitcoin; in fact, according to currency.com, over 70% of the crypto sector’s market cap is represented by just five cryptocurrencies: Bitcoin, Ethereum, Cardano, Tether, and Binance Coin.
Crypto’s popularity
Many businesses, both big and small, are opening up to accepting Bitcoin and other forms of crypto as payment for goods and services. PayPal casinos also accept crypto as a form of payment. Given crypto’s popularity, it only stands to reason that one type of business in a particularly fast-growing sector would be open to accepting cryptocurrency as well. I’m talking about casinos, of course.
Crypto in the casino
Unfortunately, your money’s no good here. “Money” meaning crypto; “here” meaning any online casino in the US . At least, that’s the way it is as of right now. While there are many gambling sites overseas that accept Bitcoin and other types of crypto, US casinos are not legally able to accept this form of payment. As the popularity of online gambling and cryptocurrency grow concurrently within the States, there’s a fair chance that this could change in the future.
