Cryptocurrencies are confusing for some people because they need help understanding the technical jargon used by many.
But most people accept money as it is and don’t ask questions about how it works. That’s why cryptocurrencies are so important.
You should ask questions about them, especially if you are playing in online casinos. More online gambling sites like Bonusetu are starting to accept altcoins, like Bitcoin Cash and Litecoin.
So what are the five most used cryptocurrencies now? Take a look at the list below.
Satoshi Nakamoto created the most famous altcoin in 2009 and still dominates the market.
What makes it so popular? Well, it was one of the first cryptocurrencies and paved the way for other coins to follow.
After its launch in 2013, it became accepted by a couple of casinos like Bitstarz and mBit.
But its popularity grew from 2018 to 2020, when people started to see this respected coin’s actual value and perks.
It was founded in 2013 by Vitalik Buterin, a Russian-born Canadian programmer and writer.
After Buterin created the network’s whitepaper in 2013, he needed more funds to commence developments, so instead of reaching out to venture capital firms, he decided to go the crowdfunding route.
He collected the required funds in only two months (July and August 2014) to launch the Ethereum project in July 2015.
It has since made shockwaves in crypto circles thanks to its appealing features. The Ethereum 2 upgrade was in September 2022, improving this network’s speed, scalability, and efficiency.
Charlie Lee first created the coin in October 2011, and this is no rags-to-riches tale because its founder was an MIT graduate that has worked for Microsoft, Google, and Coinbase in the past.
What makes Litecoin so successful is that although, like Bitcoin, it is a Bitcoin fork. This means it is built with the Bitcoin source code with minor changes and cramps to make Litecoin more efficient.
Its founder also describes Litecoin as a compliment to Bitcoin. Rather than a competitor and has referred to his brainchild as “silver to Bitcoin’s gold.”
This is a spin-off (fork) of Bitcoin established in 2017 by a group of developers and miners, focusing on making transactions faster by increasing the block size.
Although they launched it with the focus of not holding as much value as Bitcoin, it has become one of the most popular accepted currencies at crypto casinos simply because it’s faster and cheaper than many competitors.
Billy Markus and Jackson Palmer created Dogecoin in 2013 as a joke.
They never intended this virtual cryptocurrency to serve as anything more than a comedic parody of Bitcoin, using a picture of a Shiba Inu dog talking in comic sans to make fun of the wild speculation of crypto at the time.
Cryptocurrencies and online gambling are perfect for each other, and the relationship keeps getting stronger as innovations and ideas appear on the scene.
They now estimate that crypto-gambling currencies are worth around $939 million, an impressive 170% growth over last year. And this growth isn’t slowing down any time soon.