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Ripple (XRP) Casinos

Ripple (XRP) Casinos are gaining popularity in the last couple of months for many reasons. Most notably the surge to stardom of XRP in the top of the leaderboard, with cryptocurrencies such as Bitcoin, Ethereum, and even Dogecoin.

You will be getting a lot of advantages when playing at XRP Casinos, more about which we will talk in a moment. However, just to tease a little bit, the fact that the cryptocurrency has its own network named Ripple Network, allows it to have liquidity, fast transactions, extremely low fees, intended to integrate new payment systems for financial institutions to replace the heavily outdated ones. More specifically the ones that sometimes need 5 business days to make a verified transaction.

It should be known that XRP transactions are not completely anonymous, although it will still be quite hard to track down an individual. It also is a centralized cryptocurrency, for which it often is criticized.

Aside from that, you will be getting to play all of your favorite games and many others. XRP is just getting implemented in the crypto casino industry, so you could expect that the game libraries won’t be full of compatible games.

Basics of Ripple & XRP

To start off with, Ripple, or in this case XRP, is a completely different cryptocurrency than any other on the market. XRP is a cryptocurrency designed to work through the Ripple Network. Ripple itself is a money transfer software network and is being used by the financial industry, while XRP is the name of the token.

Furthermore, Ripple is a payment system and an exchange platform for worldwide transactions. The original idea of Ripple was to replace the settlement layer between major financial institutions. It servers as a trusted source between two people or companies, allowing for a swift confirmation of whether or not the exchange went through. It can also be used to simplify exchanges for fiat currency, as well as for cryptocurrencies.

Whenever a transaction is made on that network, it deducts a negligible amount of XRP. This can be seen as a mining fee. The standard value of this fee is currently set to 0.00001 XRP, which is so insignificant, considering 1 XRP equals about US$ 0.73 cents at the moment.

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Advantages of Ripple (XRP)

Although there are some things that can be looked at as disadvantages, XRP has a lot of features that make it an extremely advantageous cryptocurrency. We will go through the most important ones below after which you can check our “Pros & Cons” sub-section for more.

To begin with, XRP is well-known for its safety as it uses consensus instead of “proof-of-work” which drastically minimizes the chances of manipulations or scams going around. The team that stands behind the whole network is incredibly capable and even more well-funded, allowing it to take corrective measures when needed and prevent tampering.

One thing that stands out is the fact that the Ripple Network is integrated with financial institutions such as banks for their exceptional payments. This actually allowed for XRP to gain the status of one of the most popular cryptocurrencies on the market.

There is one thing that nobody does the way XRP does it and this is the transaction speeds. On average it takes about 5 to 10 seconds for a transaction to be completed. Comparing that to bank transfers which are so mentally draining, and even to cryptocurrencies that have only a couple of minutes between settlements, XRP stands on top of the food chain.

The combination of transaction speed and fees that are less than a fraction of a cent, ensures you will be getting no significant spending accumulated by taxes, even in the long run. Of course, this can change if XRP’s price hits the hunters of dollars, but it currently is highly unlikely.

Aside from the cryptocurrency itself, the Ripple Network is highly versatile, allowing the use and purchase of other cryptocurrencies. In this sense, it is also an exchange platform. Additionally, you can even trade commodities such as gold and silver.

Just like any other crypto casino, XRP casinos’ games will work with way better wagering limits, allowing players of all kinds to enjoy gaming. Whether you want to test a slot or want to go all-out, the usual minimum limits go well below a single cent, while the higher limits often go into the thousands.

Pros & Cons

XRP offers advantages that will probably not be reached by any other cryptocurrencies anytime soon, but it should also be noted that there are some potential disadvantages that might be a red flag for some. In order to keep things neat, we assembled a list of pros and cons, transparently providing information on all potential pluses and minuses.

PROS

Transactions at Extreme Speeds – XRP is one of the only known cryptocurrencies on the market to have a transaction speed of only 5-10 seconds. Even some of the fastest on the market take within a minute. This is possible due to the Ripple Network, which focuses on the extreme speed of all transactions.

Invisible Transaction Fees – As mentioned earlier, XRP offers transactions that cost less than a thousandth of a cent, making it a popular cryptocurrency with the lowest rates on fees.

Expanded Wagering Limits – XRP casino games, just like all other crypto casino games, have abnormally convenient betting limits. This means that if you are a low-risk player who just wants to test a game out, it will be completely possible with the less-than-a-cent minimum bet. However, even if you are big fish who wants to bet into the thousands, that will more often than not be also possible.

Exclusive Crypto Bonuses – A lot of the newly released games at XRP and crypto casinos offer the players exclusive bonuses and offers, whether in-game or in the form of a deposit bonus. These often include higher deposit bonuses, better wagering multipliers, free spins, cash, and sometimes even free bets.

Safe Transactions – Since XRP is a somewhat centralized cryptocurrency, all transactions are highly secured, due to the use of consensus transactions, rather than 3rd party confirmation transactions. This will ensure all of your deposits and withdrawals will stay tight.

Ripple Network is Used By Financial Institutions – This further proves the credibility of the cryptocurrency, as the creator and developers have been proving their competency over the years. All of this means that they will probably take better care of it than your usual crypto owner, due to how important their relations with outside companies are.

CONS

Semi-Centralized – The fact that control is given back to governments and jurisdictions is why the people who do not advocate for XRP don’t like it. It does the opposite of what cryptocurrencies stand for, which is decentralization.

Pre-mined supply of XRP – It is true that the price of XRP is not exactly stable, as a large quantity of XRP is pre-mined and largely stored in escrow. If it is released at inappropriate times, the crypto itself could potentially lose value

XRP Casinos Regulation – XRP casinos have only the Curacao license to turn to, as the better regulators such as MGA and UKGC do not affiliate with crypto casinos at this moment.

Not Accepted in All Games – Due to how new the popularity of XRP is, not all newly released games include XRP as a payment method, so make sure the casino you choose has games that work with XRP.

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