Cryptocurrency: A Complete Guide

In 2009, Satoshi Nakamoto created Bitcoin, the world’s first cryptocurrency. Bitcoin is the first decentralized cryptocurrency, meaning that it relies on blockchain technology to function.
The Bitcoin blockchain makes use of a decentralized public ledger to record all Bitcoin transactions. Bitcoin was also the first cryptocurrency to implement robust cryptography and consensus verification (Peer-to-Peer). The basic framework of Bitcoin has been adopted by several other cryptocurrencies today.

BTC miners are tasked with the verification of transactions on the Bitcoin network. These miners make use of powerful computers to verify each block of transactions on the Bitcoin network. The verification process also leads to the creation of new Bitcoin, which serves as a reward for miners.
The verification process is commonly referred to as the proof-of-work system. Transactions on the POW network are permanently recorded on the blockchain, ensuring the validity and security of every bitcoin in the network and the entire network. There have been many concerns regarding the activities of Bitcoin miners due to the vast amounts of energy the mining activities consume.

Currently, there are more than 18.8 million BTC tokens in circulation. However, this digital asset has a maximum supply capped at 21 million coins. When writing this guide, BTC has a total market cap worth over $1 trillion, making it the world’s largest cryptocurrency in terms of value. Bitcoin has become a widely accepted payment option in the iGaming Industry. All of our listed crypto casinos and gambling dApps offer Bitcoin as a payment option.

Ethereum is a blockchain technology platform that enables developers to create, publish, monetize, and use decentralized applications (or dApps) in a programmable way. Ether (ETH) is the primary payment option available to users of the Ethereum network.
Ether is currently the second most popular digital currency behind Bitcoin. Like Bitcoin, Ethereum also runs on a proof-of-work system, but the devs team is working to move to a proof-of-stake network. Unlike Bitcoin, more Ether coins can be produced. The Ethereum blockchain has served as a platform for the creation of many new crypto projects. These include initial coin offerings and non-fungible tokens (NFT). Similar to Bitcoin, all listed gambling platforms on dappGambl.com offer Ethereum as a payment option to bettors.

Bitcoin Cash is a digital asset that is very similar to the top crypto asset Bitcoin. This digital asset was developed after a hard fork to Bitcoin’s blockchain in 2017. Like Bitcoin, this digital asset’s maximum supply is capped at 21 million tokens.
Bitcoin Cash transactions are decentralized and anonymous. Additionally, this digital currency uses public ledgers to record all transactions on the Bitcoin Cash network. Due to the transaction speed of Bitcoin Cash, many of our listed gambling offer this digital asset as a payment option to bettors.

Tether is a stable coin whose value is backed and sustained by the American dollar. As a result, Tether maintains a 1:1 value with the dollar (USD). As a result, USDT always retains a constant value of $1. Stable coins are cryptocurrencies that are pegged to the value of fiat currencies. As a result, all stable coins correspond to the value of the fiat currencies that backs them.

Tether was the first stable coin in the crypto space, and it performed its primary function well by controlling the volatility of digital assets. The token has also been adopted as a payment option and is offered as a payment option on most crypto casinos and gambling dApps. Due to its popularity and wide acceptance in the gambling community, most of our listed gambling sites offer this stable coin as a payment option to bettors.

Litecoin is a virtual currency that Charlie Lee created in 2011. This digital currency is was created to rival Bitcoin and shares several similarities to the crypto asset. Like Bitcoin, Litecoin is decentralized and can not be issued or controlled by central authorities like central banks or governments regulators.
Litecoin also has a fixed supply of 84 million tokens.

Litecoin used to be very popular but has dropped in popularity with the creation of many other crypto assets. Currently, Litecoin is ranked as the 16 most popular cryptocurrency in the world. Litecoin is a very effective payment option, and many of our gambling platforms accept it as a means of payment on their sites.

Dogecoin is a popular meme coin that was launched in 2013. Like Bitcoin and Ethereum, Dogecoin runs on a proof-of-work system for recording its transactions. Doge has an unlimited supply of tokens in circulation.

Despite been a meme token, Doge has a large community of supporters that hold and trade the digital currency. Among a long list of supporters is Elon Musk, CEO of Tesla. Currently, Dogecoin has been adopted as a payment option by several top gambling platforms. As a result, you will find this digital on many of our listed crypto casinos and gambling dApps.

Cardano is a third-generation public blockchain platform that relies on a proof-of-stake system (PoS). Compared to the Bitcoin and Ethereum blockchain, Cardano offers more stability. Additionally, the Cardano blockchain is more efficient and uses smaller amounts of energy for its activities. However, the Cardano blockchain is not as popular as the Bitcoin and Ethereum blockchain.
The native token of the Cardano network is called ADA, named after 19th-century mathematician Ada Lovelace. Cardano (ADA) supply is capped at 45 billion coins.

The Binance Coin is the native token for the Binance exchange and can be used as a medium of exchange on the crypto platform. Originally developed on the Ethereum blockchain in 2017, the Binance coin has been migrated to the Binance blockchain.
BNB has a maximum supply of 200 million tokens. However, half of the total supply was sold during the coin’s initial coin offering. To drive demand, Binance buys back some coins it holds every quarter before permanently burning them.
At its inception, BNB allowed crypto traders to receive discounts on trading fees in the Binance exchange. However, the coin is now used as a payment option. These include payment for travel, entertainment, online services, and in some cases, financial services.