Tune into a business network, or a finance channel, or even take a look at your social media feed, and chances are you’re going to see some chatter about cryptocurrency. Most people have a moderate understanding of what crypto is, but to give a basic explanation of a complicated subject, crypto is a digital asset that is a form of currency. They are supported by digital ledgers called blockchain that store the data about transactions, giving the currency its viability and value. If this cursory explanation wasn’t enough, you can check our page Crypto Currency Betting for more information.

With so many people using cryptocurrencies in a wide variety of ways, naturally, it’s found its way into gambling, in the form of crypto sports betting. Cryptocurrency betting is very similar to regular sports betting, but instead of staking regular money to win regular money, it’s staking crypto. It’s become popular because it allows crypto investors to actually use their cryptocurrency for a concrete service, with the chance to earn additional money. Cryptocurrency is itself a gamble, so naturally, crypto bettors might be more inclined to enjoy gambling. One such crypto gamble that has paid off for some investors is Ripple, a popular cryptocurrency that has many benefits in gambling. Below, we’ll provide a guide to Ripple in gambling.

Profile of Ripple

Logo: 

Symbol: XRP

Initial release: 2013

Authors: Arthur Britto, David Schwartz, Ryan Fugger

Market Cap: 45.12 Billion USD (at writing)

Circulating Supply: 46.14 billion (at writing)

What is Ripple

While often referred to as Ripple, and for the sake of this article we will continue to refer to it that way, the name of the actual cryptocurrency is XRP. XRP has the 5th biggest market cap of any cryptocurrency and is a medium of transaction that has gained a lot of steam in recent years.

XRP operates on the RippleNet system, which is a digital payment platform, and was created by Ripple the company, which is why it is commonly referred to as Ripple.

When Ripple was first launched as crypto, it was worth less than $0.00001 per coin, before at one point peaking at over $3 per coin. There are 46 billion of them in circulation, and they are capped at 100 billion.

Ripple is a company that has seen its share of acclaim, like being listed as a top 50 smartest company by MIT’s Technology Review, and also their share of controversy. Ripple was delisted from Coinbase, sued in court, and investigated by the U.S Security and Exchange Commission by selling securities instead of a commodity.

Still, Ripple maintains its status as a popular cryptocurrency due to its speed of transaction, cheap pricing, and large crypto community which polices issues and is very democratic.

If you’re looking to buy Ripple, it’s available in most cryptocurrency exchanges, like Binance. It is, as mentioned before, not available at Coinbase, so look elsewhere for this cryptocurrency. If you’re looking to store it, it can be stored in a crypto wallet just like most other forms of crypto.

What makes Ripple different from other cryptocurrencies.

  • Ripple is capped at a whopping 100 billion coins, with over 46 billion of those having been snatched up
  • Ripple has stated that the goal of XRP is to enable instant money transfers globally
  • XRP is on the XRP Ledger, which is a blockchain that can settle transactions in 3-5 seconds
  • You can’t mine Ripple, unlike a lot of cryptocurrencies
  • Ripple has a faster network than Bitcoin and Ethereum, and minimal transaction costs

How to bet with Ripple ?

Now that we’ve gotten to know a little bit about Ripple, including what sets it apart, you might be looking to get started with your crypto gambling. Here’s a short guide on how you can begin setting up a betting account that lets you spend your Ripple on some cryptocurrency betting.

  • Step One: Find a Website that allows for Ripple as a payment method. We mention some such websites later in this guide. Make an account at this site
  • Step Two: Set up a crypto wallet
  • Step Three: Head to a crypto exchange like Binance where you can acquire Ripple
  • Step Four: Deposit your newly acquired Ripple into your wallet
  • Step Five: Head back to the betting site you made an account with, and deposit your XRP
  • Step Six: Enjoy gambling with your Ripple, and start hammering some bets

Ripple betting vs regular betting

Now that you’re all set up with your Ripple betting account, you’re probably wondering what all that work was for. Is there any difference between betting with Ripple, and betting with any other currency? To answer that, here’s a brief comparison of Ripple betting vs betting with traditional banking methods.

Lighting Fast Transactions

Ripple is known for its ability to process transactions in instants. This makes using it for deposits and withdrawals arguably better than with regular currencies. It settles in mere seconds for the most part, unless the delay is on the end of the betting website.

Minimal Transaction Fees

With no banks in the picture, transaction fees are limited. A lot of banks charge wire transfer fees that will accumulate over time if you keep depositing and withdrawing using a bank as your primary method. Ripple is a cryptocurrency with a very low transaction fee, even amongst cryptocurrencies that normally have lower fees than most other payment methods. 

Limited Betting Site Options

While Ripple is a widely popular cryptocurrency, unfortunately, it is not available as a popular, commonly accepted banking option for most websites. Because of that, your choice of betting sites that you can use Ripple with may be rather limited. While there still are reputable crypto betting sites that do accept Ripple, you may not be able to use Ripple as your banking method at your favourite betting site.

Where can I bet with Ripple

We’ve explained to you a little about cryptocurrency in general, about what sets Ripple apart in this industry, and how to use Ripple to crypto gamble. With all that information in hand, you’re definitely ready to get started. For that to happen, you’re going to need to find a cryptocurrency betting site that has Ripple as a payment method.

There are only two kinds of crypto betting sites that would allow for banking with Ripple. The two kinds are ones that accept cryptocurrency as their only payment method, and ones that offer hybrid banking, with both basic payment methods and cryptocurrency.

Here are a few of the different betting sites that have Ripple as a banking option, for either deposits and withdrawals or just one of the two.

  • Stake
  • ag
  • Bet99 (deposits)
  • io
  • Cloudbet

Other cryptocurrencies for betting

The cryptocurrency market is positively flush with options. It seems like there is a new coin rising every day, and Ripple is far from the only cryptocurrency that has become a stable, usable form of currency. In fact, many other cryptos are commonly used to bet. Here’s a quick breakdown of some of the other cryptocurrencies that are used for betting. If you’re looking for more information on these cryptos, we’ve got you covered with a deeper dive into each of the ones below.

Bitcoin: Bitcoin is the original decentralized cryptocurrency, coming into existence in 2009, and inventing Blockchain in the process. It is the cryptocurrency with the highest market cap, and each Bitcoin is worth thousands of dollars. The identity of Bitcoin’s creator remains a mystery.

Ethereum: Ethereum is the cryptocurrency with the second highest market cap behind Bitcoin. Ethereum was crowdfunded into development and went live in 2015. Since then, it has seen its value skyrocket as it becomes one of crypto’s leading currencies.

Binance Coin: Binance Coin is a coin that was launched in 2017, and has quickly risen to have the 4th highest market cap of any cryptocurrency. It is used to buy and pay fees on the Binance Exchange, the largest cryptocurrency exchange in the world.

Dogecoin: Starting as a meme, Dogecoin became a favourite of investors to quickly rise into a legitimate form of currency, with the 7th highest market cap of any coin. Championed by investors like Elon Musk and Mark Cuban, this crypto coin is one to keep an eye on.

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