We look at why so many people are opting to use Ripple to fund their accounts at online casinos. We discuss safety, bonuses, and the pros and cons of using XRP.
XRP is a unique cryptocurrency that was specifically developed as an interoperable payment system to facilitate transactions between banks.
XRP or also known as the Ripple Blockchain has very low fees and fast transactions to accomplish this task. Since Ripple was designed specifically to facilitate payments between systems and banks, it is the perfect choice for online casino uses as a means of payment.
Ripple can mimic bank transfers without the need for high transfer fees and slow transaction process times. The XRP token is a very popular cryptocurrency and is traded on all major exchanges.
Ripple wallet can interchange between FIAT currencies and cryptocurrencies with great ease and efficiency. Ripple wallet also facilitates the function of a crypto-currency exchange making it incredibly easy for users to switch between FIAT currencies and the Ripple token.
For this, you will, however, need a registered bank account that is connected to the Ripple wallet.
Let’s take a closer look at how online casinos are making use of the XRP token as a deposit option for their clients and how you can benefit from using this new deposit method.
780% Welcome Package + $5 No Deposit Bonus
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18+ New Players Only. Min. Wagering Requirement. Valid until Further Notice. Full T&C's Apply
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18+ New Players Only. Min. Wagering Requirement. Valid until Further Notice. Full T&C's Apply
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100% up to $700 Bonus
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100% up to 1BTC Bonus + 180 Free Spins.
18+ New Players Only. Min. Wagering Requirement. Valid until Further Notice. Full T&C's Apply
As mentioned, the XRP token facilitates payments between banking systems which makes it a great option as a payment system between online casinos and their clients.
When users deposit money via the Ripple network, they do not need to develop any of their personal credit card or debit card details. This provides great needed security and privacy to users that would otherwise be vulnerable to credit card fraud.
The Ripple network also processes transactions at a very fast pace compared to other cryptocurrency blockchains, and the network fees are pretty cheap as well.
Ripple is also a very popular cryptocurrency and is traded at all major exchanges. This gives users the flexibility of choosing their preferred crypto exchange to buy and sell the token.
The XRP token works exactly the same as any other cryptocurrency payment and can be done from most cryptocurrency wallets without the need to install any additional software.
Ripple Casinos offer all of the traditional games you will find at an online casino, plus some cryptocurrency-only games that users can enjoy.
Online Casinos try to encourage users to make use of blockchain payments instead of traditional banking systems. This is because they save large amounts of money on banking fees. This enables them to give something back to the clients in the form of sign-up bonuses and free spins that the players can use on selected games.
When clients deposit money via XRP tokens, they gain a great deal of privacy and security that the blockchain offers. Blockchain payments can be made anonymously, as a user’s crypto wallet is not registered to his or her name.
Clients that make use of cryptocurrency deposits also gain access to crypto-only games that, in turn, have the potential to give greater rewards and jackpots than their counterparts.
Because the blockchain is run by code instead of people, the payments will always be processed no matter what the time of day or night. This is of great benefit to casino clients as they do not need to wait long periods to receive their withdrawals, even though it falls over weekends or on bank holidays.
The Ripple network provides great benefits to both the clients as well as the online operators, and users can only read benefits by making proper use of this great technology. There are some legitimate safety concerns when using cryptocurrencies, but these can be easily overcome by implementing some basic safety precautions.
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100% & 200% Bonus for all players.
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100% up to $700 Bonus
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Although the XRP network was designed to facilitate transactions between Banks, the token itself is not accepted at banks as legal tender. This, however, does not hinder the XRP token from being used as a means of transacting over the internet.
Since the XRP network serves a real-world function, it will ensure that the token itself will always have a dollar value.
When taking into account the shortfalls of traditional bank systems versus the benefits of the blockchain, it makes sense for online casino clients to opt to make payments with the blockchain.
There are, however, a few extra steps in acquiring the tokens before they can be used at the casino, as well as selling them afterward to convert back to cash.
Cryptocurrencies are much more efficient at facilitating online transactions between two parties, and they can do so with a great deal of privacy and security.
It is clear that cryptocurrencies are there to stay, and we can only see more integration of this new financial technology in the future.
No, XRP tokens can be purchased by depositing any Fiat currency the crypto exchange will accept; other cryptocurrencies can also be used to purchase tokens. aa
Using XRP as a means of payment carries with it the same risks as any other cryptocurrency; however, when used correctly, it can be much safer than using a credit card online.
Ripple tokens can be purchased at any of the major cryptocurrency exchanges as it is a very popular crypto.
Care is needed when handling cryptocurrencies. Always try to use a hardware wallet as often as possible.
Many of the crypto casinos offer table games, and by depositing XRP tokens at one of these casinos, you will surely be able to play table games.
Although no system is 100% secure, hardware wallets are much safer than using credit cards at online casinos.
Many of the new crypto-currency casinos offer Sports betting, and by depositing XRP tokens at one of these casinos, you will surely be able to place sports bets.