Last updated on March 11th, 2025 at 01:47 pm
If you’ve spent any amount of time gambling on online casinos, then you will have heard about cryptocurrencies as an option to fund your accounts and gamble with.
Bitcoin may be the first thing that pops into your mind when you think about gambling with crypto. It is, after all, the market leader in terms of capitalization.
Here’s the problem, though: one Bitcoin is now worth over $100,000. Not everyone has the financial capability to buy one whole Bitcoin. Nor does everyone wish to play in fractions of minuscule Bitcoin denominations.
There’s a whole world of cryptocurrencies beyond Bitcoin. And that’s where the concept of using altcoins for gambling comes in.
Alternative cryptocurrencies are opening up a world of possibilities for gamblers who wish to use their preferred token to play with on crypto casinos. These include leading altcoins like Ethereum, Litecoin, and Tether. They offer even faster transaction speeds, lower fees, and greater flexibility—making them excellent alternatives for individuals who wish to use cryptocurrencies beyond Bitcoin.
That said, if you’re looking to use altcoins for gambling, this guide will show you everything you need to know.
What Are Altcoins?
In the simplest of terms, altcoins are all cryptocurrencies other than Bitcoin. The term “altcoin” is a portmanteau of “alternative” and ”coin.” Many altcoins use different consensus mechanisms and have different utility from Bitcoin. Altcoins may be developed to solve problems or offer new use cases. Others exist to create and mobilize a community of investors and traders.
Popular Altcoins in Gambling
Bitcoin may remain the largest and most well-known cryptocurrency. But it’s joined by over 15,000 altcoins in the crypto ecosystem. As we have mentioned earlier, any cryptocurrency beyond Bitcoin falls under the altcoin classification—and the largest ones have expanded the available crypto casino options.
The altcoin space is incredibly diverse, with the lion’s share offering varying use cases to investors and holders. Leading altcoins in gambling include the following:
- Ethereum (ETH). Ethereum is the second-largest cryptocurrency, second only to Bitcoin. It’s also the largest altcoin, comprising under 15% of the total crypto market cap.
- Litecoin (LTC). Litecoin is one of the most widely used altcoins for online payments. Litecoin came about as a hard fork of the original Bitcoin blockchain.
- Tether (USDT). Tether is the third-largest altcoin by market cap and the largest stablecoin in crypto. Its token, USDT, is pegged to the US Dollar, making it more resistant to volatile price swings.
- Ripple (XRP). Ripple is an established altcoin whose utility is to provide fast and cheap cross-border payments. XRP is often supported in leading crypto casinos.
- Bitcoin Cash (BCH). Bitcoin Cash, another altcoin that forked from the original Bitcoin, is another popular choice in crypto casinos due to its widespread use as an online payment method.
A disclaimer, though: crypto casinos can vary in terms of accepted cryptocurrencies. While the list above covers some of the most popular altcoins accepted in most crypto casinos, you should check the available payment methods first to see which cryptocurrencies are accepted.
Benefits of Using Altcoins for Gambling
Bitcoin is the most popular cryptocurrency among crypto casinos. However, it isn’t the only option for investors holding altcoins. More and more online casinos are accepting altcoins as payment methods thanks to the following advantages:
Here are some of the benefits of using altcoins for gambling:
- Faster transaction speeds. Altcoins often feature faster transaction speeds and confirmation times. Many were designed to accommodate larger transaction volumes compared to Bitcoin or traditional payment methods, enabling quick deposits and withdrawals.
- Lower transaction fees. Likewise, altcoins were developed to solve the problem of Bitcoin’s high transaction fees, making them an ideal, economical choice for smaller transactions.
- Enhanced privacy features. Altcoins offer greater privacy since your on-chain identity cannot be easily tied to your real-world identity. Certain altcoins, such as Monero (XMR), were also created for optimal privacy, enabling anonymous transactions.
- Price appreciation potential. Want to hold your altcoins after a profitable session? You may benefit from further gains if their prices appreciate over time.
How to Get Started with Altcoin Gambling
Ready to dive into the world of altcoin gambling? Getting started is easy. All it takes is the following steps:
- Choosing your preferred altcoin.
- Buying your altcoins.
- Selecting an online casino that accepts your altcoin as a payment method.
Let’s go through each step in the following sections.
Selecting an Altcoin
If you’re just getting started in the world of cryptocurrency, it’s important to buy the right altcoin. When choosing an altcoin to gamble with, you should consider the following factors:
- Transaction speeds. Most altcoins will be built for faster transaction speeds and confirmation times. Choose one that is reputable, reliable, and readily available on crypto exchanges.
- Lower fees. Choose an altcoin with low transaction fees. This will save you a lot over the long run, especially if you plan to make frequent deposits and withdrawals.
- Acceptance at online casinos. It’s often best to select an altcoin that’s already widely accepted in online casinos. Leading altcoins, in particular, are more likely to be supported by a greater number of iGaming providers. Otherwise, you’ll need to search for a platform that accepts your specific altcoin.
Acquiring Altcoins
The easiest way to buy altcoins is through a cryptocurrency trading platform. Choose a reputable crypto exchange with a wide range of altcoins and low fees available in your region. Many allow you to buy crypto directly through traditional payment methods such as credit/debit cards, bank transfers, or e-wallets. These platforms are ideal if you’re a newcomer to the crypto world.
To get started, choose a cryptocurrency trading platform, create an account, and complete any identity verification and KYC processes. Once your account is ready, you can either deposit your Bitcoin into your exchange account to swap for your desired altcoin or buy directly using fiat.
Finding Altcoin-Friendly Casinos
Now, it’s time to choose a casino that accepts a wide array of altcoins, including your chosen one. Ethereum gambling sites often feature a broader selection of altcoins to play with, as many altcoins are compatible with the Ethereum blockchain. Likewise, if you prefer to use Litecoin, you would need to choose a reputable Litecoin gambling platform.
Check the reviews, licensing status, accepted payment methods, and accepted cryptocurrencies to make sure you’re playing on a trustworthy platform. Then, it’s all just a matter of funding your account and playing your favorite casino games using the altcoin of your choice.
Potential Drawbacks
Like anything, altcoin gambling isn’t excluded from drawbacks and limitations. These are the most salient drawbacks of using altcoins for gambling.
- Limited casino acceptance. If your altcoin of choice is less known or less established, you may have a hard time getting it accepted on crypto casinos. More likely, you’ll have to switch to a more popular altcoin or use Bitcoin to gamble on such platforms.
- Volatility. Altcoins are subject to wild price fluctuations in times of extreme volatility. This could affect the value of your wins, losses, and bankroll if prices go down.
Conclusion
Altcoins are breaking through to the mainstream, and they’re changing the face of crypto gambling. The future of crypto is multi-chain; while Bitcoin will remain the dominant cryptocurrency for the time being, the crypto industry will continue to thrive under a diverse ecosystem of altcoins that iterate on the original idea of a peer-to-peer digital currency. As always, do your own research before investing in an altcoin to gamble with, as with choosing a reputable and licensed crypto casino.
FAQ Section
Are altcoins as safe as Bitcoin for gambling?
Many altcoins are just as secure and reliable and enjoy widespread use in a variety of use cases—including gambling. It all depends on the specific altcoin you choose and the online gambling platform you use.
Which altcoins are most commonly accepted by casinos?
The most popular altcoins include Ethereum, Litecoin, Tether, BNB, Dogecoin, and XRP. These altcoins have long been established in the crypto industry, making them frequently available in crypto casinos.
How do I exchange Bitcoin for altcoins?
You can exchange Bitcoin for altcoins using a reputable cryptocurrency trading platform, such as a crypto exchange, crypto broker, or e-wallet that supports cryptocurrencies.
Do altcoin transactions offer better privacy?
Altcoins are pseudonymous, meaning they cannot be easily linked to your real-life identity. Certain altcoins like Monero or ZCash, however, offer greater privacy by obfuscating transaction details. However, they are less frequently accepted.
Are there any disadvantages to using altcoins?
The most salient disadvantage to using altcoins is their varying acceptance rates in crypto casinos, especially if you are using a newer altcoin or a less-common one. Another is their volatility, which could affect the value of your bankroll and amplify your losses if prices decrease.