Ripple or XRP is one of the cryptocurrencies that online gamblers can use to bet and play. XRP was founded in 2012 as a digital company based right in San Francisco. XRP is a cryptocurrency code, and RippleNet is the company’s exchange and payment network.
Unlike other cryptocurrencies such as Bitcoin or Ethereum, XRP is operated by Ripple Labs. Due to the usage of high-quality blockchain technologies and software, a lot of companies and organizations, including online casinos trust Ripple payment method and its banking option.
Is it Legal to Play on Ripple?
Ripple is quite difficult to use, and many iGambling regulators don’t approve XRP for betting. However, they do not prohibit it, so we can find lots of gambling platforms with this cryptocoin. Nowadays, the number of casinos accepting Ripple as a payment method is increasing compared to other casino types. Below are the reasons why this currency is one of the best online casino banking methods and will remain so for a long time to come.
Reliability
First of all, it is a very reliable payment instrument. XPR is backed by hundreds of banks around the world, including even giants like UBS and Union Credit. Thanks to this trust from the leading banks, XRP gains a sufficient level of legitimacy. Some experts even argue that there is no more reliable channel for encrypting transactions.
Versatility
Due to the low commissions, this cryptocoin can be used as a universal tool for converting different currencies. It helps to reduce the cost of exchange, as it minimizes the commission that banks may take when dollars are used as a kind of intermediary. Ripple can even be used for the production of unique money to make this process easier. All this means that Ripple provides a very wide range of fintech solutions in comparison with other cryptocurrencies.
No Inflation
Since cryptocurrencies are initially mined, it means that they already exist and retain their value, unlike other cryptocoins. For some users, this plus will have a downside. It is about those who want to take advantage of the volatility in encryption. However, Ripple offers an excellent variant of cryptocurrency for users who are looking for reliable payment options at casinos.
Transaction Speed
One of the biggest disadvantages of Bitcoin is the long delays in transactions. While other cryptocoins are constantly working on solving this problem, Ripple is doing very well in this regard. You get fast and cheap payments, including the online casino industry. These two advantages have opened up a huge niche for Ripple.
International Support
Ripple is a truly international option of payment that is supported in most civilized countries. Considering the fact that the economy is more and more globalized every year, it is worth giving preference to more universal solutions.
Deposit and Withdrawal on Gambling Platform
You need to create a Ripple wallet and learn how to use it. Already during registration, you will have to provide data that confirms that you are the owner of this currency. Next, you need to indicate the amount that you want to deposit into the account.
Data refers to XRP tags that help link transactions to a wallet account. In XRP casinos funds are as easy to withdraw as regular fiat currencies (dollars or euros). Only occasionally are there any additional nuances of a financial transaction. The processing of financial transactions varies from site to site. It is difficult to answer unequivocally how long it takes.
A wide range can start from a few seconds to several days. But in any case, using XRP as a payment instrument is a great choice. This cryptocurrency platform is really fast. The delays are purely on the casino side