Explore this guide to learn which is the fastest cryptocurrency to deposit and cash out with at your favourite online casinos.
There is no shortage of top internet casinos accepting various cryptocurrencies. One only must look at leading casinos like this cryptocurrency casino site, to see that you can use many different cryptocurrencies to deposit, wager (in some cases), and withdraw at casinos. Every cryptocurrency option has its perks, but apart from security (and perhaps, anonymity), speediness is one of the most sought-after traits of any cryptocurrency. Which payment provider offers the fastest transaction times at casinos? After all, nobody wants to wait for ages to pocket their winnings.
Ultimately, it all comes down to TPS (Transactions Per Second). Each cryptocurrency can only handle so many transactions on distributed ledgers, so if you want to play with the fastest options, we need to start by looking here.
The Most Used Blockchains
Two of the most used blockchains are Bitcoin and Ethereum. There are many reasons why these two options will fit the bill for crypto casino users, not least that they are the two most popular and commonly found cryptocurrencies. However, they certainly are not the fastest. While Bitcoin offers a bog-standard 7 TPS and takes 60 minutes to confirm, Ethereum processes 25 transactions per second and has just a six-minute transaction time.
The Mid-Ranking Options
Therefore, the two most popular options are amongst the slowest cryptocurrencies that you can use when betting online. Where do the mid-ranking options land, then? Litecoin has a reasonably respectable 56 TPS, but a confirmation time of thirty seconds is a touch slow. By contrast, Bitcoin Cash lights up our board at 300 TPS. Again, though, its payout time is slow, at one to two hours. The Bitcoin fork is not going to win over many users with these stats. Tether (USDT) offers similar numbers.
The Fastest Mainstream Options
Dogecoin comes in as the fastest mainstream cryptocurrency you can use at most online casinos. With a 35 TPS rating, you would not have thought so. However, its transaction times of just six minutes (rising to 15 minutes on Kraken) makes it a very credible option for bettors, not just at Bitcoin Casino but elsewhere.
The Winners Have Issues
There are, of course, cryptocurrencies that can process transactions far quicker than those mentioned. Tron is known to have a transaction time of five minutes and processes 2,000 TPS, while little-known options like Neo, Steem, Hashgraph, Aleph Zero, Solana, and Red Belly can process anything from 10,000 up to 40,000 transactions per second and have transaction speeds of a few seconds.
They all sound wonderful, but there is one issue – very few of them are available at cryptocurrency casinos, and most are far too small to be of any use to most players. With that in mind, players are recommended to use BTC or ETH for their simplicity, or if speed matters to you, you cannot go far wrong with Dogecoin.