The Influence of Volatility on Deposit Trends
Cryptocurrencies that are trending or have weaker price predictions often experience the most volatility. For example, XRP, which some analysts predict may experience a downturn in the coming months, is less popular for casino deposits during such times.
During periods of market downturn, players often exchange volatile coins like Solana (SOL) (down 22% in the last two weeks), Dogecoin (-19.2%), and Tron (TRX) (-6.6%) for more stable options. While BNB deposits have also increased on some sites, it’s worth noting that BNB briefly lost ground to SOL.
Upozorenje na rizik: The ongoing geopolitical tensions, such as the conflict between Ukraine and Russia, and potential responses from Iran, may heavily impact crypto prices, according to Markus Jalmerot, co-founder of CryptoChipy. He also predicts that stablecoin deposits will surpass Litecoin deposits in the next 6 months.
Bilješka: Currently, there are 510+ Bitcoin casinos reviewed on Criptochipy, with Ethereum coming second at 471 casinos, and Litecoin at 451. Tether casinos hold fourth place with 445 reviewed sites. However, USDC casinos remain limited, with only 179 accepting USDC at the time of writing this article.
Stablecoin Popularity During Market Downturns
The CryptoChipy theory on cryptocurrency gambling is simple: when a coin experiences a downturn, holders often convert it into stablecoins like Tether (USDT) or USD Coin (USDC). Players tend to protect their holdings by converting a portion of their assets into stablecoins during periods of high market volatility. Below, we highlight some popular stablecoin casinos and other coins used for deposits on these platforms.
Betpanda: Embracing Stablecoins Across Multiple Networks
Betpanda (learn more) is one of the leading casinos offering stablecoin deposits. It’s no surprise that stablecoins are a dominant deposit method, as Betpanda accepts USDT on multiple networks, including the Ethereum Network (ERC-20), the Tron Network, Polygon, The Open Network (TON), and the Binance Smart Chain. The only network not yet supporting Tether transfers is Solana, but Betpanda still outperforms most other crypto casinos in this regard.
Similarly, USDC is accepted across Ethereum, Tron, Polygon, Bridged Polygon, and Binance Smart Chain. Bitcoin (BTC) deposits are also supported, including through the instant Bitcoin Lightning Network. During the summer, USDT was the most used deposit method on Betpanda, comprising over 65% of all transactions. Bitcoin (BTC) followed with 8.4%, Ethereum (ETH) at 7.9%, Tron at 7.3%, and XRP at 6.7%. Other deposits primarily came from Litecoin (LTC).
BetPlay: Increased Use of Ether Deposits
Throughout July and August 2024, Ether (ETH) deposits surpassed USDT, Dogecoin (DOGE), and Bitcoin. However, when combining all stablecoin deposits, they still outpaced ETH deposits at BetPlay Casino (see review).
What stands out at BetPlay is the support for multiple crypto networks. For instance, USDT and USDC deposits can be made via five different blockchains. It’s important to use the correct network to avoid losing funds. In August, 36.7% of deposits were in ETH, while 25.5% were in USDT. USDC made up 12.3%, and other popular options included Dogecoin (18.4%) and Bitcoin (4.6%). Less than 2.5% of deposits came from Litecoin (LTC) and XRP.
If you’re seeking a serious crypto casino with a vast selection of networks and instant payouts, BetPlay is worth visiting!
Cryptorino: Rising Stablecoin Usage Alongside BNB
Cryptorino (see review) supports a wide array of cryptocurrencies for deposits. In August 2024, stablecoins like Tether (USDT) accounted for nearly 65% of deposits. This is partially due to Cryptorino’s support for multiple networks, as well as the platform’s appeal for anonymous casino players.
BNB has also become a significant deposit method, comprising roughly 25% of Cryptorino’s total deposits in August. Bitcoin (BTC) accounted for less than 6%, and Litecoin (LTC) represented 3%. In July 2024, uBTC (small units of Bitcoin) topped the list of deposit methods, likely due to the higher value of Bitcoin that month. Cryptorino also supports the Lightning Network, making it a favorite for Bitcoin users.
LTC Casino: Shifting from Litecoin to USDT
While LTC Casino (review) is known for its focus on Litecoin deposits, it also supports major cryptocurrencies such as Bitcoin, Ethereum, XRP, Dogecoin, and Tether (USDT). The site’s no-KYC policy has made it especially appealing for those who prefer privacy, as no personal information is required for deposits or withdrawals.
Over the last few months, Litecoin and Bitcoin deposits have decreased in favor of Tether (USDT). Visit LTC Casino to explore a variety of games and tournaments on this fully anonymous platform.
My Preferred Methods for Playing on Crypto Casinos
When playing on crypto casinos, my preferred deposit method typically depends on my wallet’s balance and which game I’m interested in playing. For example, if I have some unused BNB, I’ll transfer it into my casino account. However, if I want to place larger bets, I’ll use the cryptocurrency with the largest balance in my wallet or convert it to a more suitable token for transfers.
For example, converting to Litecoin (LTC) is a great option because it’s widely accepted, transfers are cheap, and they usually arrive in 1-2 minutes. Learn more about crypto or check out the crypto networks available.
My go-to site in recent months has been Cryptorino, which offers a great selection of games, doesn’t require KYC, and has fantastic bonuses. What more could you ask for?
Fast Crypto Deposit Methods
For fast deposits, I prefer the following methods:
- Solana (SUNCE): One of the fastest and cheapest transfer methods, but not yet widely accepted by casinos. I expect this to change, especially if SOL becomes the third-largest cryptocurrency in 2024 or 2025. See Solana casinos here or try my favorite Solana site, Wall Street Memes Casino.
- Tron (TRON): Over 210 casinos support the Tron network, which is both cheap and quick. Check out the full list of Tron casinos here, or try Cryptorino, one of our favorites.
- BTC Lightning Network: More casinos are starting to accept Bitcoin Lightning Network. Sites that only accept regular Bitcoin usually have outdated or basic payment processors. My recommended site for instant Lightning Network transfers is BetPanda.
- Litecoin (LTC): Litecoin is a fast and reliable deposit method, especially at LTC Casino, which offers anonymous deposits and quick payouts. Visit LTC Casino for instant deposits and withdrawals.
- Ethereum (ETH): Accepted at 472 casinos, Ethereum remains a popular deposit choice for many players.
- Privezak (USDT): USDT is widely accepted across crypto casinos. Some casinos support multiple networks, like BetPlay, where Tether is available on five networks.
Conclusion: What’s Behind the Changing Deposit Trends?
Deposit trends shift with the market. High volatility often leads to an increase in stablecoin usage, while Bitcoin tends to dominate when its price is closer to its all-time highs. When Bitcoin’s value drops, players typically hold onto it and use other cryptocurrencies instead, unless they’re aiming for high-stakes sessions.
Cryptos with weaker outlooks or those that have recently increased in value are more likely to be used as players anticipate a price drop. Using these coins on a great platform like Cryptorino, LTC Casino, or BetPlay can be a strategic choice for many players.
By staying aware of these trends, you can make smarter decisions about where and how to play on crypto casinos.
