In recent years, cryptocurrencies have become one of the most practical and innovative ways to place bets online. In Brazil, the popularity of this method is growing due to the ease of use, anonymity and security that these digital currencies offer. Bettors have been looking for tokens not only for the functional aspect, but also for the chance to optimize earnings and avoid high fees.
Why use cryptocurrencies in online betting?
Cryptocurrencies bring a series of benefits to those who bet online. For example, deposits and withdrawals are processed almost instantly, without the long waits characteristic of traditional methods. Personal data is not disclosed during transactions, which preserves user privacy.
The fees associated with the use of cryptocurrencies are usually lower than those charged for bank transfers or credit cards. And with them it is possible to bet on international platforms without the limitations imposed by fiat currencies. All of this makes cryptocurrencies increasingly popular among Brazilians.
Brazil is one of the most promising markets for cryptoactives. According to data from CoinGecko, in 2023 the country was among the top 10 markets in crypto trading volume. Furthermore, a survey carried out by Finder revealed that around 25% of Brazilians already own or use cryptocurrencies.
In the betting sector, adoption is increasing, including not only already established projects, but also new products on the market such as memecoins. Betting houses and online casinos began accepting digital currencies to attract a young audience that is aware of technology and social networks.
How to choose the best cryptocurrency for betting?
To choose the ideal currency, you first need to know which options are accepted by the bookmaker. In any case, prefer currencies with low rates and look for options with some stability. Price is also important. Memecoins, for example, tend to be more economical. But, fortunately, there is a lot on offer on the market, each with its pros and cons.
Celebrities on social media
Meme coins have already conquered their space in the cryptocurrency market and in the gaming industry as well. Despite their origins as jokes on the internet, the best meme coins have a good base of loyal users and wide acceptance on gaming platforms. Dogecoin, for example, is valued for its low transaction fee and active community.
Shiba Inu has gained attention as an alternative to Dogecoin, focusing on decentralized initiatives. Although they are more volatile than currencies like Bitcoin or Ethereum, their low cost makes them accessible for bettors who want to test new options.
The first and most popular
Bitcoin is, without a doubt, the best-known cryptocurrency in the online betting market. It is widely accepted on platforms around the world and offers high levels of security and relative stability. By using blockchain technology, it guarantees the integrity of transactions.
Therefore, almost all bookmakers accept BTC. Furthermore, as it is the first cryptocurrency created, it is seen as a reliable option by both beginners and experienced bettors. And although volatile, Bitcoin tends to be less susceptible to large swings compared to smaller currencies.
The main altcoin on the market
Ethereum goes far beyond the “digital currency” category. It is also a platform for smart contracts, which guarantee transparency and trust in betting. Although gas fees are high during periods of high movement on the network, its main differentiators include the speed of transactions and the security of its platform.
Although not as fast as some altcoins, it is still more efficient than traditional banking methods. And some bookmakers use Ethereum smart contracts to ensure that game results are fair.
Efficiency in rates and speed
Litecoin, often called “silver” compared to Bitcoin’s “gold”, is a practical choice for gamblers due to its reduced fees and faster transaction speed. This makes it ideal for those who want to move values frequently.
Lesser known cryptocurrencies
In addition to the best-known options, coins such as Cardano and Solana are gaining ground in the betting market due to their efficiency and technological innovation. Both offer fast transactions and are less volatile than memecoins. They end up being an interesting alternative for those looking for stability.
Cardano focuses on sustainability and scalability, and is ideal for frequent transactions. Solana is known for its speed and low fees, being one of the most efficient networks today. Furthermore, both have much lower prices than better-known projects.
