Casinos that Accept Ripple (XRP)
Ripple is often frowned upon by cryptocurrency experts because it differs from other top crypto coins. Since it is not based on blockchain technology like other cryptocurrencies, Ripple is frequently seen as centralized and, therefore, considered unfit to fall under the crypto category.
Nevertheless, in recent years, Ripple has been gladly accepted in the world of online gaming. What’s more, its major characteristics have proved quite useful to online casino players worldwide as both deposits and withdrawals are processed instantly, and the fees are almost non-existent.
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What is Ripple?
Although Ripple is officially a part of the crypto industry, it is based on a slightly different idea than the rest of the cryptos out there. Ripple is primarily a digital payment network created to enable banks and other financial institutions to rapidly transfer large amounts of money overseas with minimum fees.
Apart from that, it also has tokens known as XRP that serve as a mediator between different fiat currencies around the world. Yet, there’s no mining process involved with Ripple, as all the XRP tokens are pre-mined.
Also, the main characteristics of cryptocurrencies like decentralization and blockchain technology are not what Ripple stands for. Instead, it uses a protocol consensus algorithm where only company-verified nodes can be in charge of transaction processing.
All these characteristics combined make XRP a great option for online gaming since safe and fast transactions are usually the priority of many online casino players.
How to Make Deposits in Ripple Casinos
Making a deposit in Ripple casinos is a fast and hassle-free process. Let’s take a look at the deposit procedure you’ll come across in most Ripple casinos:
- Open a Ripple wallet — Choose a wallet that supports Ripple where you can store your XRP tokens.
- Obtain XRP — Before you can start playing in Ripple casinos, you need to buy XRP in a cryptocurrency exchange. You can also get XRP by receiving it from someone who already has a Ripple wallet and XRP tokens.
- Create an account in a Ripple casino — Find a casino that supports Ripple and create an account by following all the necessary steps.
- Fund your casino account — Once you log in to the casino of your choice, go to the cashier and select Ripple as your preferred payment option. You will then be required to provide your wallet information and type in the amount you would like to deposit. Another option is to scan a specific QR code with your smartphone’s camera to initiate a deposit.
- Start playing — Your XRP tokens should be deposited almost instantly, after which you’ll be able to enjoy all the games the casino has to offer!
Note: sometimes a casino will use a crypto payment gateway called CoinsPaid where you can select which crypto you would like to deposit before funding the account. This is what it looks like at Montecryptos casino:
Withdrawals in Ripple Casinos
As mentioned already, one of Ripple’s key characteristics is fast transactions, which is particularly important for withdrawing your online casino winnings. If you follow a few simple steps, you’ll get access to your money in no time. Here’s what you need to do:
- Initiate the withdrawal — Click on the withdrawal tab in your casino’s banking page, select Ripple, and enter the amount you would like to withdraw.
- Provide your wallet address — Type in your Ripple wallet address in the designated space and complete the transaction.
- Exchange your winnings — Once the casino completes the transaction, you’ll see your funds in your Ripple wallet. You will then be able to convert your XRP into any desired currency and enjoy your winnings!
Pros and Cons of Ripple Casinos
There are many reasons why you should consider playing in Ripple online casinos. However, to be unbiased, we’ve looked into some of the potential disadvantages of using Ripple for online gaming. Ultimately, we’ve come to the following information:
- Very low transaction costs — At the moment, the cost of a single Ripple transaction is 0.00001 XRP. The fact that the fiat equivalent of one XRP is approximately C$0.33 at the moment makes this point quite self-explanatory.
- Fast transactions — While transactions with other cryptocurrencies can take over an hour, Ripple will have it done in a few seconds.
- Safe transactions — Considering that banks and other large financial institutions worldwide trust Ripple with its transactions, why wouldn’t you?
- Easy exchange of currencies — You can deposit one currency and withdraw it as another one if needed.
- Less popular with online casinos — Unlike Bitcoin, Ripple has not yet reached such popularity in the online gaming world, so you might find it difficult to find a good Ripple casino.
- Centralization — Many crypto users find Ripple unsuitable for online gambling since it is not decentralized like other cryptocurrencies.
Should You Play in Ripple Casinos?
After carefully examining all the aspects of Ripple casinos, it’s safe to say that you should give them a try. Firstly, Ripple is an official organization that many world banks use for money transactions, meaning that the system is absolutely safe and secure. Then, there’s the question of transaction speed and cost — by playing in Ripple casinos, you can rest assured your winnings will be delivered to you fast with minimal fees.
Finally, you can use XRP tokens to play games in online casinos, or you can exchange them into any currency you want. All things considered, Ripple casinos are on the right path to becoming one of the favourite gaming platforms among online players.
What is Ripple?
Ripple is both a digital payment network and a cryptocurrency. Its primary goal is to make online transactions fast and cheap no matter the amount, and its tokens can be used for hassle-free currency exchange.
When was Ripple created?
Ripple was built in 2012 by Jed McCaleb, Arthur Britto, and David Schwartz, and co-founded by Chris Larsen. Since then, Ripple has become one of the top five cryptocurrencies in the world.
How do Ripple deposits in online casinos work?
In order to use Ripple for playing games in online casinos, you’ll first have to get a Ripple wallet. Next, you need to find a reliable online casino that accepts XRP. Select Ripple in the cashier section, and a separate window will open. Then, you will be required to provide the wallet information and type in the amount you wish to deposit, or scan the QR code generated by the casino.
Is it safe to make XRP deposits in online casinos?
Ripple is, by far, one of the safest cryptocurrencies to use for online gaming purposes. This cryptocurrency uses a protocol consensus algorithm, and the transactions cannot be processed by any token holder — only company-verified nodes can do that. As a matter of fact, Ripple was designed to take care of large bank transactions, which speaks volumes about its safety and reliability.
Can you bet with Ripple for real money?
Yes, you can. Furthermore, you can exchange Ripple for any currency you would like to use for online gambling.
How is Ripple different from other cryptocurrencies?
Although it might be less popular than other cryptocurrencies, Ripple stays ahead of them thanks to the speed and lower cost of transactions. For example, one Bitcoin transaction can take longer than an hour to complete, while Ripple can process the same amount of money within a few seconds. Also, Ripple has a fixed transaction fee of 0.00001 XRP, which, at the moment, equals less than C$0.5.