Top 5 Cryptocurrencies for eSports Betting

The growing success of eSports has opened various possibilities beyond just playing, because fans can now enjoy the profits of eSports betting due to tournaments available all-year round. These days, bettors no longer solely rely on credit cards and bank payments in order to support their teams and players. Instead, bettors can easily deposit and bet with their preferred cryptocurrencies.

As of today, there are around 5,000 different kinds of digital currencies in circulation. But, in terms of the trust, popularity, and value, here are the 5 best digital currencies to use at crypto-focused eSports betting sites.

1. Bitcoin (BTC)

Bitcoin’s one decade of existence is a major currency revolution. Because of its duration, it should not be a surprise that BTC is the number 1 choice among the 300 million crypto users in the world.

Bettors prefer Bitcoin because it is well-established, lucrative, and the largest crypto platform by both market cap and coin value. As of August 17, 2021, Bitcoin’s market cap is close to a massive $900 billion USD. That is why it is still the dominant cryptocurrency at all online casinos and sportsbooks.

2. Ethereum (ETH)

Founded in 2013, Ethereum remains one of the strongest counterparts of Bitcoin. Not only is it the second-largest crypto by market cap (worth nearly $400 billion in mid 2021), it is also one powerful and massive digital ecosystem. This is because it was not a digital currency in the first place.

Instead, blockchain innovators developed it as a programmable network intended as a marketplace for financial services, games, and apps. It just so happens that it also holds its own coin called Ether (ETH), which is only a fraction of the many Ethereum-powered tools and services. In fact, if you have been interested in eSports and the world of digital assets in general, then you will have heard about NFTs (Non-Fungible Tokens). Most NFTs have their roots in the Ethereum blockchain network.

3. Tether (USDT)

Stablecoins are digital currencies backed by assets (e.g. fiat, crypto, and commodity). They ensure stability and high liquidity in the middle of the capricious crypto market. The most notable example of a stablecoin is Tether. Pegged to the U.S. dollars, it is the most popular fiat-based stablecoin with a predictable value, and is therefore quite popular for gambling because of the close value to the USD.

4. Litecoin (LTC)

Litecoin may not immediately be in the same arena as Bitcoin and Ethereum in terms of market cap, but it has captured the trust of the users due to its network design. True to its name, LTC was designed to be a lighter version of Bitcoin for multiple uses and purposes.

Litecoin improved Bitcoin’s high fees and slower transaction speed. As it aimed to empower users to be their own bank and to control their own transactions by processing transactions in under 2.5 minutes. In contrast, that makes it four times faster than Bitcoin’s mining speed at 10 minutes.

5. Cardano (ADA)

The recently popular Cardano is a blockchain smart contract platform created to fix the drawbacks of Ethereum. Despite its recent entry, it has impressively climbed to be among the top 10 digital currencies based on market cap.

Creators take pride in it being the “first third-gen virtual currency”, where its purpose is to “provide a more balanced and sustainable ecosystem” for the crypto market.

Crypto and eSports Betting: The Match Made in Heaven

Using the best digital currency is not the first and only step to achieving a smooth online betting experience. You will also need to pick an excellent website that gives you the best choices for eSports betting.

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