Ripple (XRP) became the 20th digital asset supported by well-known cryptocurrency betting website – 1xBit.com. The third most dominant cryptocurrency after Bitcoin and Ethereum, XRP gained popularity among the cryptocurrency community due to low transaction fees and fast transaction speeds, making it a perfect payment solution for crypto-gamblers. Earlier this year 1xBit has already added Verge, Qtum and Stratis.
Why use Ripple (XRP) for gambling?
Ripple is a famous cryptocurrency platform designed primarily for payment systems. By using Ripple to deliver payments between countries, businesses avoid unnecessary financial, time and labor costs. All payments are sent according to the strict rules with a specific cost per transaction. But not only large corporations can benefit from using XRP.
Here are some advantages of Ripple usage for gambling:
- Full anonymity. Unlike fiat payments, you don’t need to provide your personal data to top up your wallet. At 1xBit, players can register with no need to provide any personal information and all the payments are made in cryptocurrencies, that guarantees you anonymity.
- High transaction performance speed (faster than SWIFT) and high scalability. The transaction confirmation time for XRP is around 4 seconds, while for Ethereum this figure exceeds 2 minutes, and for Bitcoin, it is considerably more. The system handles around 1,500 transactions per second and claims to handle up to 50,000 transactions. With respect to gambling, the speed is particularly important for live betting, where nearly every second counts.
- Minimal platform commission. The current minimum transaction cost required by the network for a standard transaction is around 0.00001 XRP. At 1xBit, players can always withdraw their winnings without any commission. You pay only the transaction fee while depositing.
- A good investment. The value of Ripple is steadily growing year by year as the platform has secured more and more partners. Many people say that investing in cryptocurrencies is like gambling itself. So why not try to double your investments by placing a bet on your favourite team?
- Easily accessible. Unlike most cryptocurrencies, XRP can’t be mined, but the coin can be bought on any popular crypto exchange.
Ripple is destined to become a global payment system of the future in the long run, as even today it’s already being used in major banks such as UniCredit, Western Union, Santander and UBS. Ripple company has partners and investors, among which are major corporations such as Microsoft and Google.
Earlier in December 1xBit added another widespread crypto asset TRON (TRX) to the list of the supported currencies, which is the 10th cryptocurrency by the market cap now. 1xBit is planning to add Tether (USDT) soon.