XRP is gradually getting into the groove of cryptocurrency betting. The crypto boasts Bitcoin-caliber advantages that make it a stellar choice for online betting. Some might interpret this as a factor in the much-taunted clash between the two similar, yet technically different cryptocurrencies. XRP allows anyone to be part of the grandest spectacles in online betting.
That said, there are a few things you should be familiar with before you learn how to bet with XRP. Here is a complete guide to betting with XRP!
The aura surrounding Ripple is a result of the promise to streamline cross border payments. Ripple Labs, originally founded as OpenCoin, is the company developing the cryptocurrency, XRP, and the distributed ledger that powers it. More precisely, XRP acts as a bridge currency showcasing liquidity and ease of exchange on the Ripple network.
Ripple sells its product called xRapid to financial institutions around the world. It is a medium for transferring value between various fiat currencies. XRP Ledger is the Distributed Ledger Technology that facilitates verifiable and secure settlement of the cryptocurrency. These are the valuable services Ripple offers to financial institutions and individual users.
XRP is often considered the black sheep of the cryptocurrency family. There are so many things you can point out as differences between XRP and BTC. However, Ripple has many features and uses cases that allow it to transcend the paradigm of financial transactions to crypto gambling.
What Are the Main Features of Ripple?
Very few cryptocurrencies justify the word “anonymity” in its very sense, and XRP is at the top of the list. This feature, among others, showcases the grandeur of this cryptocurrency. Every single factor surpasses the norms of betting with cash. Here are some XRP features:
- Anonymous transactions – the first feature of the coin relates to privacy. Transactions are completely anonymous to the point that it might be impossible to trace the users. Every crypto gambler looks for such a flare in a cryptocurrency, and XRP has the best of it.
- Decentralization – this is a contentious issue in the crypto-community. While some compelling arguments have been given claiming XRP is actually centralized, this is contrary to the truth. XRP is a decentralized cryptocurrency whose value is determined by the forces of demand and supply.
- Information tracking – thousands of Ripple running computers around the world work in unison every moment to protect the security and validity of transactions. XRP Ledger is available to everyone on the network for transparency purposes.
- Fast Transactions – the XRP care is often compared with SWIFT transfer, the current system for cross border payments used by banks. This is where the structure of Ripple proves advantageous. XRP allows users to send out transactions in seconds compared to 2-5 business days on SWIFT.
- Low-cost transactions – as established above, the Ripple network is incredibly fast. This feature proves valuable when you consider the only way the fee will increase is if there is a network overload. Ripple has built an efficient and resilient network that removes all bottlenecks of market liquidity, thereby making it cheap to move XRP.
Is There Any Profit in Using XRP in Crypto Betting and Gambling?
Nearly a decade, something unprecedented happened. An incredible individual or group made a lasting impact on the world by introducing Bitcoin.
Today, there is an entire crypto-oriented segment of every industry on the world stage. Bitcoin, and later XRP, showcased how user data and security could be protected, if not enhanced. This feature was picked up by online casinos and betting firms. These crypto casinos also leveraged the underlying technology behind Bitcoin to transparency in user transactions and prize winnings.
Every casino has something that truly defines it; for some, that is blockchain security. Thanks to blockchain security, gamblers can enjoy an enhanced degree of privacy and control. This was the moment of credibility that crypto betting platforms, such as 1xBit, were launched as fully anonymous casinos and sportsbooks.
From the start, 1xBit attracted players with an undeniable charm, combining pop-culture resonance with the power of blockchain technology. 1xBit offers a unique blend of features and action-packed games, which you are invited to try. What defines this crypto casino is the convenience it affords users, as it allows them to deposit and bet on multiple events using XRP and 20+ other cryptocurrencies.
1xBit offers not only XRP betting, but also one-click registration as part of the experience. Users are not required to provide their private credentials. The platform generates a Login ID and password automatically. Since the casino is protected by blockchain, it is literally impenetrable. Beyond the account registration stage, betting or playing games on 1xBit is pretty cool.
Selection of a XRP Crypto Wallet
1xBit is an apt stage where players can take advantage of the vast number of cryptocurrencies supported. It is easy to bet on 1xBit with XRP. Simply go to “My Account” and find the “Account Details” option, select “Your Wallet” to access the list of cryptos, and choose XRP to complete and bet.
Betting on Events
1xBit is the place where pro gambler legacies are born, and lucent dreams come true. The crypto sportsbook showcases elements of crypto gambling, including brilliant events that are known to offer players great experiences. This practice has become an integral part of cryptocurrency gambling. The player can select an event, the conditions and take a stake in the game with XRP easily.
Ease of use is part of a larger story that goes on in the profits a player can make beyond a stake in a game or event. The stellar offer at this cryptocurrency sportsbook also includes a welcome bonus of 7 BTC, among other offers. At 1xBit, the glory of the experience could not only become valuable, but tangible too. It is a grand opera of emotions and adrenaline spikes that starts with betting on 1xBit with XRP.
This was our guide on how to bet with XRP, focusing on crypto casinos, an industry that is constantly blooming. Now that you know what the most important aspects of crypto betting are, you are free to delve into this captivating world of gambling.