List of Best Cryptocurrencies for Betting

Tamara Tasić
By Tamara Tasić
Crypto Expert
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Updated Nov 4, 2022
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Read time 9 min

Looking for a list of best cryptocurrencies for betting? Cryptocurrency betting has become a huge phenomenon among bettors around the world. Using popular coins for different transactions makes sense because of faster payments and more affordable transfers. While Bitcoin leads the way for the best gambling crypto coins, an array of altcoins are popping up in the industry, opening space for more comfort and flexibility.

Still, many people wonder why betting with cryptocurrency has become so popular and how it compares to wagering with fiat currencies. The benefits of using Bitcoin and alternative coins are undisputed. Apart from enabling fast payments and withdrawals to and from popular sites, crypto transactions ensure enhanced security, lower fees, and innovative features. That’s why outlining the best crypto for betting would be a great idea before making your first transaction on a selected betting site.

According to the SoftSwiss report for 2022, Bitcoin still holds a lion’s share in the list of most used cryptos for gambling. Bettors placed a total of 71.2% of all crypto bets via BTC, which is 9.55 points less than at the same time last year. The second place belongs to Ethereum, which recorded a total of 14.7% of bets in the first half of 2022, or 5.2 points more compared to the 2021 results. Litecoin was the third-most-used crypto in H1 2022, with 6.15% of all bets being made with it. This number is 2.15 points more than the results from 2021. 

Based on the same report, the other most used cryptocurrencies are Dogecoin, USDT, Bitcoin Cash, Ripple, and OTHO token.

Top 8 List of Best Cryptocurrencies for Betting

Bitcoin Tops the List of Best Cryptocurrencies for Betting

Opening a discussion about the best crypto betting option wouldn’t be possible without Bitcoin. This is the first cryptocurrency that appeared in the industry, providing many benefits to its users. Its creator is developer Satoshi Nakamoto who built the currency back in 2009. Since its first implementation in the market, Bitcoin has recorded constant-increasing trends, and it still moves up. Occasional fluctuations in BTC price don’t have the ability to affect its authority, and after every decrease, it comes back even stronger. 

Bitcoin is a preferred cryptocurrency option for betting because of its privacy, availability, and anonymity. Leading betting sites have already introduced it as one of the main banking methods, and the trend has become global.

Bitcoin Cash

Bitcoin Cash is the top betting crypto that follows the growth of its predecessor. A difference between the two options is barely noticeable, with Bitcoin Cash having a larger capacity and the ability to store more data. It has an 8MB infrastructure, significantly higher than BTC’s 1MB.

Bitcoin Cash hit the gambling market in August 2017, immediately after the Bitcoin fork. It underwent its fork in 2018 and was divided into two options – Bitcoin Cash ABC and Bitcoin Cash SV. Almost all betting platforms that accept Bitcoin also accept its more flexible version, BCH.

Ethereum

Creating a good list of cryptocurrencies for betting wouldn’t be the same without Ethereum. It is one of the most reliable and original options used in app development. Ethereum is also known as a software platform pushed by blockchain technology. Its native crypto is ETH (Ether).

The community can use Ethereum to create secured digital technology. Apart from having a token for use in the blockchain space, ETH is also used as a payment method for all the work completed on the blockchain. Ethereum is also known for supporting smart contracts, a key tool of decentralized apps.

Litecoin

The list of best betting cryptocurrency options continues with Litecoin. Former Google engineer Charles Lee created this alternative to Bitcoin in 2011. He adjusted it from Bitcoin’s code with some modifications. Its benefit lies in the open-source structure that ensures full security and independence from third authorities. 

When using Litecoin for transactions, bettors can take advantage of swift and smooth transfers. Many betting sites have already accepted it due to its simplicity and faster wagering. 

Dogecoin

Dogecoin is the next choice regarding the best crypto for betting activity. It is known as an open-source, peer-to-peer cryptocurrency and innovative altcoin, which has been in the market since 2013. It stands out with robust features such as the scrypt algorithm, low price, and inexhaustible supply.

Many online betting sites accept Dogecoin in the marketplace because of its community-based nature. It is not like Bitcoin, but its immense reach makes it a highly in-demanded option. 

Tether

If you are still looking for the best crypto for online betting, you can opt for Tether. It is a widely-known stablecoin whose value is dependent on the USD. The cryptocurrency is fully supported by the company’s reserves and is owned by iFinex, the Hong Kong-based firm that also owns the famous exchange, BitFinex.

Tether was established in 2014 as RealCoin. Shortly after that, the company was renamed Tether. Initially based on the BTC blockchain, Tether now backs multiple protocols, from BTC Omni and liquid protocols, TRON, EOS, Ethereum, Solana, and other blockchains. It is a favorite betting option thanks to its flexibility and USD compatibility. 

Ripple

Ripple is a powerful tech solution that operates both as a cryptocurrency and a digital payment network system. It was launched in 2012 by Chris Larsen and Jed McCaleb. It uses a consensus mechanism rather than blockchain mining to confirm transfers. The native coin has the ticker XRP and uses less power than Bitcoin. Every transaction is confirmed in seconds, and costs are insignificant.

Ripple is also among the best crypto to bet with because of its security and smooth payments. However, it lacks popularity in the marketplace – the reason why only a limited number of platforms accept it.

Monero

Monero is the last recommendation on our list of best crypto betting options. It is a digital payment method offering anonymity to users. It resembles Bitcoin in terms of decentralized peer-to-peer solutions, but its privacy-based protocol is stronger. Monero achieves full privacy thanks to the use of the ring signature. This feature obfuscates the origin of funds and makes them untraceable to all the parties included in the transfer.

Monero has already become one of the more popular coins on leading online betting sites, and its use will increase even more as nothing beats high-security standards.

Which One Is the Best

Choosing the best crypto to wager with on your favorite betting sites is challenging. While Bitcoin would be the number one choice for players looking for established banking methods with wide acceptance, Ethereum is the top selection for people looking for smart-contracts-based coins.

Still, other crypto options are for betting purposes, led by innovation, flexibility, larger capacity, and swift transactions. Whatever altcoin you select, you will take advantage of the robust features and smooth gambling experience on online betting sites.

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Tamara Tasić
Tamara Tasić
Crypto Expert

Tamara is an entrepreneur and content specialist. She is passionate about gambling and cryptocurrency world, having worked on different casino and crypto writing projects. Tamara is also interested in legislation, investments, and DeFi.