Are altcoins a good bet for gambling when Bitcoin is down?

One of the primary use cases for Bitcoin in recent years, aside from trading as an asset, has been the developing popularity of betting with this crypto coin. Increasing numbers of people have found this to be one of the most practical ways to use BTC, but in a spell when Bitcoin is struggling in the market, is it really a good idea to be using it for your stake at casinos and sportsbooks? Is there a reason to suspect that crypto casino betting in the present age could be better with a different crypto? That’s a question it is increasingly worth asking as we look for ways to ensure success in our digital dealings.

There are definitely crypto advocates that are minded to take this approach with at least some of the primary altcoins. More and more, we are seeing opportunities for gambling at casinos with Litecoin, which has the advantage of being a more stable coin than BTC. The opportunities for altcoin betting are amply demonstrated by the likes of Cloudbet, which has continually diversified the list of altcoins it accepts and is now offering the benefits of its Marketplace. This loyalty program allows you to build Lightning Points which can then be redeemed for increasingly impressive rewards. It’s up to you to decide whether you’d rather use your points to redeem free bets or save them for a dream holiday, but as a sign of the healthy of altcoin betting, it’s pretty persuasive.

Cloudbet is in a position to offer the Marketplace and Lightning Points because it’s a crypto casino in the vanguard of the current market leaders. It can hold that position because it is able to offer its services to people who prefer other crypto coins ahead of the usual market-leading currencies. So there is certainly provision at the highest level of crypto betting for not just Bitcoin, Ether and Litecoin, but also Dogecoin, Tether and many more besides.

Is Bitcoin still a better choice, though?

There is some justification for asking whether – even if Bitcoin is in a down spell, and other coins performing better on a number of metrics – BTC is still the leading choice for crypto bettors. The answer? It absolutely depends on your priorities. One thing that Bitcoin has going for it, and may always have going for it, is that there is liquidity in the currency that doesn’t always exist elsewhere. Bitcoin is the biggest and most popular coin, and therefore can deal with a lot more attrition than any other cryptocurrency.

With that being said, a major part of the reason that Bitcoin has become so powerful, and its holders so prominent in the crypto sphere, is the fact that it was early to the party and attractive to early adopters. So, with coins like ETH and LTC becoming more prominent by the day because of greater stability or lower energy use, that eye for early adoption may be worth following now. Bitcoin will always have its uses and may always be fundamental to crypto betting, but there is more reason than there ever has been to look beyond it to its alternatives.