Top Altcoins to Use For Online Poker Deposits
You’ve likely noticed that many online poker rooms now accept Bitcoin for deposits. While this is the most popular form of cryptocurrency to deposit with, it is not the only one. Some online poker rooms now accept deposits using various forms of altcoin.
Today, we will take a look at some of the best altcoins to deposit with at online poker rooms. Not all poker rooms will accept these coins, so do your research before trying to make a deposit.
Litecoin is one of the top altcoins you will see accepted at online poker rooms. The coin is a form from Bitcoin and has a vastly decreased block generation time. This allows for faster confirmations than Bitcoin.
Also, the coin tends to have lower miner fees when compared to Bitcoin. Those looking to save money on miner fees will go with Litecoin over Bitcoin. The faster transaction time is also an advantage, but that advantage is less prominent now as demand for Bitcoin is a lot lower than it was during the meteoric rise of a couple of years ago.
Ethereum is another top altcoin accepted by online poker rooms. It’s block time is just 14 to 15 seconds. The technology is vastly different from Bitcoin and there are many that stick exclusively to Ethereum over Bitcoin.
Outside of the diehard followers, you don’t see this one used as often as miner fees can fluctuate. However, the market cap of the coin is over $30 billion, so it is one that online poker rooms have to offer to stay competitive.
A crypto you see at a limited number of online poker rooms is Dogecoin. It is popular because of the low cost of each coin. You can get between 5 to 10 Dogecoin for 1 penny. This allows people to invest in crypto for very little.
The downside is that the value of Dogecoin always stays minimal and you have to spend a ton when making any form of deposit. However, the stability of the coin is why many HODL it. It is also a popular coin to use for crypto purchases such as online gambling.
Miner fees are low relative to other coins. Even if you had to pay 10 Doge for a transfer, you’re paying 2 cents as opposed to $5 to $20.
Tether is a controversial cryptocurrency that’s always being called a scam. However, the concept of the coin is that is backed by USD. Every Tether is supposedly backed by $1 in fiat or its equivalent. This means that Tether should always be worth $1.
As such, some poker rooms will accept Tether as a deposit option. This minimizes their risk over coins like Bitcoin that can fluctuate wildly. Out of the coins on this list, this is the one you will see less often and may see eliminated in the future.
Bitcoin Cash is another altcoin you will see often used by poker rooms. It is a fork of Bitcoin and some consider it the “true Bitcoin.” It was created to accommodate the larger number of transactions occurring on the blockchain. The coin is considered an upgrade to Bitcoin, but many supporters of Bitcoin did not embrace it.
— ICO News Watch (@ICO58613550) August 27, 2018
Bitcoin Cash is a relatively popular coin, hovering between $200 and $400 per coin. Its popularity is one reason online poker rooms began accepting it.
Which Coin Should I Deposit With?
When making a decision on which coin to deposit with, it should boil down to what you already own and your eventual plans for your online poker deposit. If you are merely planning on buying crypto to make a deposit, you should probably look into buying Litecoin due to the lower fees and fast transaction rates.
However, if you are planning on HODLing your crypto after running it up at online poker rooms, then you should stick with Bitcoin. It will always have the greatest acceptance, and therefore the greatest value.