Online casinos are now accepting digital payments due to the high demand of their markets. This opens up an opportunity for Ripple to reach more people.
Online casinos start to accept cryptocurrency.
More and more people are starting to hold on to their digital assets which is a vital sign for many industries especially the one online to start adapting to this trend.
It is only apparent that cryptocurrency will only get bigger and bigger. With the many potential this technology hold, there only makes sense it will become one of the main payment systems we accept in the future.
One industry that will surely grow is the online casino market. The entertainment value of the games and the possibility to win some money from them are great incentives for many people to engage in it.
With the combination of a huge gambling market and crypto tech, many entrepreneurs are trying to find ways of creating new casinos that also accept digital currencies. The most obvious choice is the great number one cryptocurrency out there, Bitcoin. Many online casinos offer games you can play with BTC and some even exclusively for this type of currency.
However, it’s not too common to see casinos where you can make deposits using Ripple. This is one of the biggest crypto giants out there and it has some great benefits compared to Bitcoin. By far, Ripple is not as popular as many other currencies but that’s changing. It’s constantly growing and reaching new people with its proposition of a fast and easy payment system.
The opportunity for Ripple to rise
Ripple is one of the stables coins and keep its position since January 2018, and then it is slowly and steadily growing. At the time of writing Ripple (XRP) is trading at $1.06 with a marketcap of $49 Billion.
Due to the high marketcap of Ripple, many online casinos start to accept this coin as their payment method.
“Ripple casinos such as the BitCasino.io and Earnbet are not only satisfying their customers by allowing them to use Ripple for online gaming, but they are also helping fulfill a growing consumer demand.”
With an increasing number of traditional casinos adding Ripple (XRP) to their payment options, experts say that soon enough, it could be the future of casinos.
Bitcasino.io is the first licensed crypto casino to start to use Ripple (XRP) as its primary cryptocurrency for both players and gaming sites alike. Players who choose Bitcasino are allowed to deposit, play, withdraw and receive winnings with XRP directly. There is no longer a need to convert from BTC or LTC.
Earnbet is another casino which is accepting Ripple as its default option for deposits, withdrawals, and bets. The other cryptocurrencies accepted are BTC, EOS, ETH, XRP, LTC, BCH, WAX and BNB.
“This is a great opportunity for them as casinos are giving the option of using their cryptocurrency to its users without having to go through any hassle.”
Ripple is a currency that was originally created as a replacement for Bitcoin, which has failed in the past due to high transaction fees and slow processing times. The idea behind Ripple is to create stability by providing transactions with low fees and fast processing times. There are no restrictions on who can use this currency, but it does primarily focus on banking institutions because of its ability to facilitate international money transfers easily.
Currently, the casinos which are accepting Ripple are relatively new. However, they are already growing in popularity due to their convenience and fast transactions.
By choosing casinos that use XRP as their main currency, players can now experience faster betting times than when using traditional casinos where gambling is done online in fiat currencies such as USD or GBP.
“These casinos stand firm in their motto to provide users with high-quality casinos and casinos that can allow them to gamble safely and confidently online.”
As more casinos continue to add Ripple as a payment option, the rest of the casinos such as Dogecoin Casino will certainly follow suit. This new trend is attracting gamers from all around, not just because it allows them to gamble faster, but also because it allows them the convenience of not having to convert their currency for casinos that accept cryptocurrencies.
“The casinos that are accepting Ripple will help contribute to the increasing popularity of this cryptocurrency by generating more users. This would be a great opportunity for Ripple as well since casinos can increase its potential user base.”
Ripple has been through a lot of upward momentum in the past few months since it has become a favorite among banks and financial institutions. Its popularity does not only come from being compatible with banks but also from its stability when converted to fiat currencies.
Now that some industries start to adopt Ripple in their payment options, many are hopeful that soon enough, it will be the future of gambling. The focus on providing an environment where users can have fun and gamble safely is one factor that differentiates Ripple from other cryptocurrencies in the market today.
Online Casinos are now accepting digital payment, which opens up an opportunity for Ripple to reach more people. As cryptocurrencies continue to rise in popularity and value, they’re being accepted in many industries–including the gambling industry.
Gambling is a perfect environment for cryptocurrency, as the transactions are irreversible and can’t be traced by traditional payment systems.
Casinos and other gambling venues often attract clients from all over the world, and this presents a perfect opportunity for Ripple to gain even more awareness. The general public will see that using Ripple is not only easy but also secure.
The main factors preventing cryptocurrencies from being a mainstream payment method is price volatility and the lack of trust. Ripple aims to provide a more secure environment for cryptocurrency, as it can send money faster and cheaper than any other currency on the market.
This will surely raise their position as one of the choices from many cryptocurrencies currently in the market.