Crypto Casino Stake.com Doubles Supported Currencies

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Crypto Casino Stake.com Doubles Supported Coins
There is no doubt that blockchain technology and the gaming industry have intersected and are driving each other’s growth. A great example of this is sports betting giant Stake.com, which recently expanded the cryptocurrency options on its gaming platform.

Stake Casino, the world’s largest crypto casino and sportsbook, continues to expand its business with recent moves to expand its crypto inventory. The crypto gambling platform has added 11 new cryptocurrencies to its system, offering a wide selection of stablecoins and tokens for betting on the site.

In addition to its huge influence in the sports betting industry, Stake.com is also widely known for spending sponsorship money on famous athletes and celebrities. Some of these influencers include Canadian rapper Drake, the Ultimate Fighting Championship UFC, the English Premier League, and various Twitch game streamers. In addition, Stake.com has one of the most diverse casino game categories and seems to be doubling down on supported cryptocurrencies to stay ahead in the lucrative crypto casino industry.

This article discusses Stake.com’s recent progress in expanding cryptocurrency on its gaming platform. Read on to learn more.

About Stake.com
Stake.com has been leading the crypto casino industry since 2017, successfully establishing its credibility and exceptional casino experience. In addition to this, offering crypto betting options for a wide range of casino games has made it appeal to a wide customer base across the globe.

This gaming platform not only offers casino games, but also provides betting options on various sports matches or leagues. The company has strengthened its base by establishing partnerships with big names such as UFC in Latin America and Asia and the prestigious Everton Football Club and Watford Football Club. Recently, Stake.com became the official partner of the European Cricket Championship (ECC).

There is no doubt that Stake.com is an industry giant that will continue to expand its influence and serve its customers more in the coming years.

Stake.com and the top eight cryptocurrencies
Cryptocurrencies are now widely used for betting and gambling, although some companies are starting out conservatively when transitioning from fiat currency trading to cryptocurrencies. For Stake.com, the company initially used eight cryptocurrencies. Here is a list of the first cryptocurrencies available to customers:

Litecoin (LTC) is the first coin supported on Stake.com. Litecoin is very popular among players due to its faster transaction speed compared to other coins. Compared to Bitcoin, Litecoin transaction time is five times faster. Since time is of the essence on gambling platforms, Stake.com becomes the preferred destination for Litecoin casinos.

Bitcoin (BTC) is widely considered the leader in the cryptocurrency space. In addition, it is now the most valuable on the market, with a market cap of approximately $600 billion in June 2021. Stake started using this currency when it was launched in 2017 and quickly became the leader in crypto casinos.

With over 18 million Bitcoins in circulation, it remains the most popular cryptocurrency on gaming platforms. Many customers use it as their primary currency, making it the most common cryptocurrency when playing games on Stake.

Ethereum (ETH) is the second most recognized cryptocurrency on the market, not far behind Bitcoin. On Stake, Ethereum has also become one of the most popular currencies among players due to its value and growth potential. It is also considered one of the most stable currencies among its competitors, making it an attractive investment option and financial instrument.

Bitcoin Cash (BCH) was launched in 2017 as a token or fork of the original Bitcoin. The cryptocurrency is less valuable compared to its predecessor, but its growth potential supports its popularity among players. In addition, due to its smaller block size, transactions are faster and less expensive. As of 2022, BCH has a market cap of $7.1 billion, ranking among the top 25 cryptocurrencies to date.

Tron (TRX) was originally known as Tronix and was created by TRON founder Justin Sun in 2017. This cryptocurrency aims to improve the reward system for content creators using the TRON network. After the dissolution of the foundation, TRX has performed well in the market and shows good growth potential. Although TRX has not yet gained popularity on the Stake platform, many believe it is an investment potential worth considering.

Ripple (XRP) was launched on Stake in 2019 and is the sixth cryptocurrency supported on the platform. Ripple is worth less than $1, but the currency has experienced exponential growth this year. As of March 2022, the price of XRP has risen to $0.8, a growth rate of more than 12600%. In addition to its growth potential, Ripple also has faster transaction speeds than other currencies, making it an ideal choice for investing in sports betting platforms.

Dogecoin (DOGE) started out as a satirical attempt and is now a full-fledged cryptocurrency called Dogecoin. Developed by Jackson Palmer in Australia, DOGE is often used as an incentive currency to improve social media creators. However, it is now also a fully adapted currency in several crypto casinos. Furthermore, this virtual currency may have a lower value than its counterparts, but it still has the support of the cryptocurrency community. It can also be used on Stake.com.

EOS (EOS) was added in 2020 and is the eighth official cryptocurrency supported by Stake. The main attraction of this cryptocurrency is its low transaction fees, which makes it very popular. In addition, its value is not far from the actual value of the US dollar, which may make it easier for customers to convert and use it for transactions.

Stake.com expands its cryptocurrency list
There are various types of digital currencies on the market, and players may have several preferences when playing in casinos or placing sports bets. Therefore, it would be advantageous to offer as many currency types as possible on the gaming platform as customers have more choices.

To meet this demand, Stake.com has expanded its cryptocurrency selection. On its initial list of eight cryptocurrencies, the company added 11 new cryptocurrencies in August 2022, as follows:

BNB, formerly known as Binance coin, is the official cryptocurrency of Binance and Binance US exchanges. The currency was originally designed to help users pay less transaction fees on the Binance platform. In its current form, BNB has evolved into a valuable currency. In addition, this virtual token is now also added to the cryptocurrency options of Stake.com.

Chainlink (LINK) is one of the 11 new tokens available on Stake.com. Chainlink is a decentralized blockchain oracle network designed to connect off-chain and on-chain contracts. The cryptocurrency is used to pay operators who fetch data from off-chain sources. The currency can also be used for various transactions, including betting, deposits, and withdrawals on gaming platforms.

Uniswap (UNI) is widely known on the decentralized exchange platform powered by the Ethereum blockchain. Created in 2018, Uniswap DEX is powered by Ethereum, the second largest cryptocurrency by market cap. Since they are all powered by the same blockchain, the UNI token is compatible with other ERC-20 tokens and Ethereum-based platforms such as SushiSwap DEX, as well as virtual infrastructure such as MyEtherWallet.

Although originally designed as a governance token for running exchange platforms, UNI has made its mark among other forms of cryptocurrency. Therefore, many believe that using this token for investment and trading could be advantageous. In addition, if investors and players have most of their cryptocurrencies in Ethereum, holding UNI could enhance their participation in DEX platforms.

The Sandbox is a metaverse or virtual world powered by the Ethereum blockchain where players can build, own, and monetize games. The official token traded within the virtual space is SAND, an ERC-20 token backed by the same blockchain giant.

In The Sandbox, players can actually own assets in the form of NFTs (Non-Fungible Tokens). NFTs are highly sought-after digital assets that are sold at high prices both in the gaming world and in the real world. This currency can also be used for in-game transactions on the Stake platform.

Dogecoin (Shiba Inu), also known as SHIB, is a popular meme coin, a cryptocurrency that pays tribute to memes. SHIB is known for the design of a Dogecoin variety that Dogecoin spawned, hence the name. Developed by the Shiba Inu team, who also designed the DEX platform Shibaswap, SHIB is another new addition to the list of Stake platform cryptocurrencies.

Polygon uses MATIC as the official cryptocurrency symbol for its network, which is known as Ethereum’s Internet of Blockchains under the Ethereum blockchain because it connects and extends multiple networks. Polygon launched in 2017 as Matic Network, hence the name of the currency.

MATIC is also an ERC-20 token, compatible with other Ethereum-powered platforms. The currency was originally used to manage and secure the network, but is now widely recognized as a virtual token and can also be used on Stake.com.

ApeCoin, or APE, is the official currency of Bored Ape Yacht Club (BAYC). BAYC is a collection of 10,000 unique ape NFTs, while APE is an ERC-20 token developed by Yuga Labs in early 2022. The cryptocurrency has a maximum supply of 10 billion and is currently available on the Stake platform.

Stablecoins on Stake.com
Of the 11 new cryptocurrencies launched on Stake.com, four are stablecoins, which refers to currencies whose value is pegged to the U.S. dollar. Stablecoins are designed to provide a more stable value than typical cryptocurrencies. The stability of stablecoins increases the advantages of using them in different types of transactions, such as sports betting. Currently, there are four stablecoins on the Stake.com gaming platform, including:

Tether or USDT is one of several stablecoins added by Stake. The value of this USD-pegged token is closely tied to the US dollar. After its official launch in 2014, Tether gained recognition and is now the third most popular cryptocurrency in the world. In addition, it holds the largest market cap of all cryptocurrencies, with a market cap of $83 billion as of May 2022.

USD Coin or USDC is another Ethereum blockchain-backed stablecoin that is newly available on Stake.com. The value of this virtual currency is pegged to the fiat value of the U.S. dollar, making it a great choice for gamers who want to use cryptocurrency while enjoying the benefits of a stable currency.

Binance USD is one of the cryptocurrencies based on Binance and is backed by New York-based blockchain company Paxos Trust. Binance USD belongs to the currency category in CoinDesks’ Digital Asset Taxonomy and is one of the 11 new currencies on the Stake gaming platform.

Dai or DAI was launched in 2017 as the official stablecoin of the MakerDAO network, also backed by the Ethereum blockchain. This currency is completely decentralized and is popular on Stake gaming platforms due to its stable price valuation. Like other stablecoins, the value of DAI is pegged to the US dollar while taking other virtual currencies as collateral.

DAI has a market cap of $280 million and is expected to grow in the coming years.

in conclusion
The world of crypto gambling is constantly expanding, and with it come more benefits for both customers and gaming platforms. With a wider range of choices, you get better liquidity for digital currencies, more convenient financial transactions, and potentially a better gaming experience. The cryptocurrency you choose ultimately depends on your preferences, and you can use them at your discretion to optimize your investments and earnings.