Bitcoin has grown by leaps and bounds to become the standard for online commodity. Whether you participate in the international transfer of funds or enjoythe amazing world of online gambling, Bitcoin can change the way you pay for business and for play. However, Bitcoin is just one expression of the underlying technological and economic innovation that makes these amazing things possible. Bitcoin is nothing but the best known use of the Bitcoin protocol. The Bitcoin protocol is the revolutionary technology underlying Bitcoin, and it has been used to create a wide variety of other specialized online commodities. These Bitcoin protocol commodities are known as “cryptocurrencies.”
Cryptocurrencies
There are a truly enormous number of cryptocurrencies. In the few short years since the Bitcoin protocol caught on there have been literally thousands of individual and specialized cryptocurrencies invented. Although no one of them compares to Bitcoin in popularity or market capital, they are all fully functioning electronic commodities completely suitable to iGaming and online gambilng. Each cryptocurrency is a specific reformulation of the basic idea behind Bitcoin for specialized purposes. Some of those purposes are technical, meant to improve either currency transfer or mining. Some of those purposes are economic, and these cryptocurrencies feature a more active development team that does more to create and maintain their commodity’s value. Some coins are simply funny. There are “joke” coins that hold their value and work every bit as well as the more serious ones. The field is wide open, and anyone can play. All of these cryptocurrencies are used for gambling.
Online Exchanges
Nearly every online exchange that allows you to buy or sell Bitcoins with your local currency will also let you transfer funds to cryptocurrencies. The specific cryptocurrencies available depends on the market, but there are several reputable online exchanges that maintain indexes of hundreds. The major cryptocurrencies like Etherium, Litecoin, and Dogecoin are accepted on nearly as many places as Bitcoin. They are all excellent for gambling, as they share all the advantages of Bitcoin. They are generally quite secure. They allow funds to be transferred with a simple email, allowing cryptocurrency holders to completely circumvent notification and intervention by local entities. They are new, they are exciting, and they are fun.
Some Popular Cryptocurrencies
Bitcoin outranks all the other cryptocurrencies combined. To coin a phrase, it is the Coca-Cola of the cryptocurrency world, and its absolute domination of the monetary in value invested in these commodities is assured for a very long time. However, there are billions of dollars in the cryptocurrency market, and that means plenty of room for everybody. Bitcoins most famous competitor, as a matter of fact, started as a joke. Dogecoin, a slightly modified use of the Bitcoin protocol named after the Shiba dogs of meme fame, has done quite well against its more serious or high-minded competitors. Unlike Ripple, which prides itself on a curated economic presence, or Namecoin, who vaunted a connection to a theoretical new DNS web system, Dogecoin is fairly well known to the public at large. The investors behind Dogecoin made their first canny publicity moves when they fully funded the Jamaican Bobsled Team to the 2014 Winter Olympics. After that they funded a NASCAR team entirely with the profits from their cryptocurrency. The stock car, emblazoned with the Dogecoin logo, has competed admirably for years, bringing countless new people to the idea. This is why Dogecoins enjoy some of the highest market capitalization of any coin and greater most popularity among online gaming outlets.
The great thing about cryptocurrencies is that they all work. Games are a lot more fun when you have a little money on the line, and they are even more enjoyable than that when you win. Cryptocurrencies give you another way to play and another way to keep your earnings. What is more, they appeal to the gambler’s instinct. Since there are so many cryptocurrencies jockeying for position, there is the possibility of implicit currency speculation. Parking your winnings in one cryptocurrency or another is equivalent to betting on that currency, even if only for a day or two. If it takes a big jump, you make some big bucks. This obviously appeals to fans of off-track betting and fantasy football. Cryptocurrency makes games more fun, and there is no reason to limit that fun to bitcoin. Everybody can play.
