What Is Ripple (XRP)?
The XRP coin would be used alongside the transaction system to help secure and verify transactions between banks.
Ripple is a payment system and currency exchange network that uses the XRP cryptocurrency. This platform allows users to make instant international transfers using this digital asset.
Recently, online merchants have started accepting the XRP cryptocurrency. This trend is being followed by some online casinos as well.
Jeb McCaleb and Chris Larson co-founded OpenCoin in 2012 with the objective of creating the Ripple payment network. The following year, the company underwent a name change and became known as Ripple Labs.
In 2016, Ripple acquired a virtual currency license, leading to a significant increase in the value of their XRP cryptocurrency. By 2017, XRP had skyrocketed to a value thirty times its original worth.
How To Use Ripple at Online Casinos
To begin gambling with XRP, you'll need to create an account on a platform that supports Ripple and verify your identity. Afterwards, you will deposit funds into your account and select Ripple as the currency of choice. You are then free to trade how much XRP you want.
Once you have selected the number of XRP you would like to purchase, press "Buy Now" and a window will appear displaying your current portfolio balance in XRP.
Short step-by-step process to using Ripple in an online casino:
- Explore our selection of trusted Ripple online casinos! We have an exhaustive list of the best options, so you can find the perfect casino that suits your playing style.
- Open an account: Now you’ll need to register with the online casino you selected, which should only take a few minutes.
- Deposit XRP coins: To deposit XRP coins at an online casino, the procedure should mirror the steps you follow when financing a cryptocurrency exchange account. Begin by navigating to the casino's deposit section and choosing the XRP/Ripple option. Next, copy the depositing address provided by the casino and proceed to your personal Ripple wallet to initiate the transfer of funds.
- Withdrawal XRP: After your gaming experience at an online casino with XRP, it's time to cash out your winnings. To initiate the withdrawal process, you need to access your private Ripple wallet and obtain your wallet address. Once you have it, navigate to the withdrawal section on the Ripple casino website, and input your wallet address. Then, choose the desired number of XRP coins that you wish to withdraw and submit your request by clicking the corresponding button.
When it comes to finding the best Ripple casinos, we have a rigorous testing process that takes into account many factors. Trustworthiness is one of these important considerations, so our chosen online gambling sites must be certified by a reputable licensing authority like the UKGC. Additionally, an online Ripple casino should include fully-optimised mobile availability as well as 24/7 customer service in order to provide support for players wherever they are and at any time. There should also be a wide variety of games available along with numerous other payment methods in case customers need them. And finally, we always recommend offering some great casino bonuses to sweeten the pot!
Ripple Casino Games
Now we’ll look into the games you can play using Ripple at online casinos. Often you'll find the same options as you would at regular casinos, but there are some differences to be aware of.
Ripple Casino Games
Ripple Casinos Safety and Security
Games at Ripple online casinos will either have their games provided by regulated software providers or supply their own Provably Fair games in-house.
Provably Fair casinos or games utilize blockchain technology to ensure their customers that the results of their games are legitimate and fair. Through this technology, games generate a unique "seed" that determines the outcome of a spin or turn. This seed can then be verified on the blockchain to prove the fairness of the game and the accuracy of the results, including wins and losses.
Games provided by third-party software developers have a licensing fee attached, which is paid by the Ripple casino in question. Top providers will always have a licence from the UKGC or other bodies, while they also must have games certified for fairness by the relevant authorities.
Advantages of Using Online Ripple Casinos
Ripple has become the third biggest cryptocurrency for a reason. It offers a number of important benefits, of which we have listed below.
Although Ripple is not comparable in size or scope to Bitcoin or Ethereum, it does provide a sense of security for individuals who prefer XRP as their preferred digital currency.
Ripple was specifically designed for the banking industry with a limited supply of only 100 billion XRP. This feature ensures that the currency can effectively curb inflation or deflation, thereby maintaining stable economic conditions. The adoption of Ripple by major corporations like American Express, Santander, and Siam Commercial Bank further strengthens its position as a superior competitor in the market.
Another advantage Ripple can boast about is the speed of its transactions. This is because it was designed in a completely different way to Bitcoin, where one has to solve complex equations for verification purposes while mining for more coins that go into circulation at the same time.
XRP has already mined all of their coins (all 100 billion of them) and uses a trusted node list that determines whether a transaction is valid. This allows Ripple to send money from one to another within 3 to 5 seconds. Talk about speedy service!
Lack of Volatility
As Ripple is centralised and its coins have already been mined, this creates a lack of volatility for the cryptocurrency. This is an added plus for an online currency made to help banks make international transactions.
If your goal is to maintain the value of your money while sending it to another location, Ripple may be a suitable option for you. While it may not be the most lucrative investment for increasing your wealth, it can ensure that the value of your money remains relatively stable throughout the transaction process.
Ripple presently operates a remittance platform that employs XRP in 25 nations and has established connections with a network of 70 financial institutions and banks. Notable among these collaborations are Ria, Moneygram and TransferGo. This extensive network sets Ripple apart from other cryptocurrencies, making transactions with them easily accessible, free from difficulty and tension.
Versatility and Low Fees
Another advantage of Ripple is its versatility, as it's used as a mediator between different currencies (fiat currencies or cryptocurrencies). This allows for money transferals of one currency to another with minimal charges.
When this is tied in with the lack of volatility mentioned above, it proves to be a great way for users to move money around without having to think about heavy fees or huge losses of money through inflation.
Disadvantages of Using Ripple Casinos Online
Nothing is perfect, and neither is Ripple! After looking into all the currency had to offer, we did notice a couple of issues that limit the usage of XRP when trying it out at Ripple casinos.
Limited Availability of Ripple Casinos
The clearest and most obvious drawback is that there aren't that many XRP casinos around. However, this is gradually changing, so there will hopefully be more online casinos accepted XRP as a payment method in the near future.
Volatility of the Crypto Market
Until recently, XRP was known for its stability among cryptocurrencies. However, the fluctuating nature of the cryptocurrency market can still impact the value of your digital assets. Nevertheless, it's worth noting that some individuals are drawn to cryptocurrencies precisely because of this volatility.
The recent SEC lawsuit against Ripple has had a negative effect on the value of XRP, as well as effectively banning US residents from purchasing it until further notice.
Summary of Pros & Cons
- Less volatile
- Easily accessible
- Very versatile
- Better Bonuses
- Low fees
- Higher limits
- Few XRP casinos available
- Volatility of the crypto market
- SEC Lawsuit
Regular users of casino websites know that there is an array of different bonuses on offer but Ripple bonuses usually higher than fiat bonuses. To properly analyze bonuses, we have created three separate subsections.
The welcome bonus
Not every casino website accepting XRP offers a welcome bonus, but most do. Using slick marketing, these sites can easily convince you that you’re benefiting.
One of the best examples is when the site matches your first deposit bonus, effectively doubling your money. Let’s say your first deposit is $200; the Ripple casino’s bonus of $200 seems very generous at first glance. It is too good to be true because of the major restrictions included.
Some XRP casinos force you to play at least 30 times your deposit before you’re allowed to withdraw ANY money. So, if you deposit $200, your money is trapped in the account until you play with the equivalent of $6,000.
As such, you’re going to lose that $200 unless you have a massive win, which is highly unlikely. With this in mind, it makes sense to investigate a site’s promotions and VIP package instead.
Renowned for their lavish treatment of high-stake players, traditional brick-and-mortar casinos often provide free lodging, exquisite dining, and front-row seats at major sporting events. Although online XRP casinos cannot match such opulent perks, they can entice their VIP players with exclusive programs to keep them coming back for more. The top-notch XRP gambling sites feature creative and innovative rewards systems for their loyal patrons.
Many sites use points reward systems where players earn a point for every dollar they spend on a site. Once you reach 1,000 points, you receive $10 cash back with no other strings attached. Such packages aim to entice big spenders to return to the casino company regularly.
Other examples of VIP programs include giving players a special customer service agent and bonuses like free spins or free cash money on special occasions such as birthdays. Unfortunately, certain Ripple casino websites fail to offer the value provided by a high-quality VIP program.
Ultimately, if VIP rewards are important to you, it is best to check out our best Ripple casino site reviews to discover the top-ranked sites in this regard.
How good are a site’s promotions?
The frequency of promotions is less important than their standard. Sites that provide a constant stream of promotions are often guilty of diluting the quality.
In fact, many conventional online casinos do not prioritize drawing in users through creative promotions. Instead, their focus tends to be on offering bonuses that do not provide any significant value to the player.
In today's era, Ripple casinos surpass their traditional counterparts in terms of promotions, offering a vast improvement in both the quality and quantity of rewards. These enhanced benefits considerably elevate the overall user experience.
Summary: Choosing the Best Casinos 2023 To Play at With Ripple
It is important to take into account the various factors when choosing a Ripple casino. These include fairness, licensing, game selection and bonuses. For your convenience we have listed some of the best crypto-casinos that currently accept XRP as payment method. Of course, there are many other payment options available if you find this type of currency unsuitable for your needs.
Ripple Casinos FAQs
Are there any fees when using Ripple?
Yes. When making a transaction with Ripple, you'll be charged 0.00001 XRP, which is less than one penny. However, do check with your Ripple casino in case they charge additional transaction fees.
Can I use my mobile to send money with Ripple?
Certainly. If your Ripple wallet is available on your mobile, then transactions from your mobile should be hassle-free.
Is it safe to use Ripple Casino?
While no transaction can be guaranteed to be completely secure, Ripple endeavors to ensure the safety of its currency when sending and receiving money, even amidst deflating markets, without incurring losses.
Is it legal to use Ripple for betting?
It depends on the country. Depending on where you are, the rules for using Ripple vary a lot. However, it currently has partners in 70 countries worldwide, and is still expanding its network.
How fast are Ripple deposits and withdrawals?
The typical duration for Ripple-based deposits and withdrawals is between 3 to 5 seconds; however, the processing time may differ depending on the specific online casino.
What’s the difference between Ripple and conventional payment methods?
Ripple offers customers a secure, faster, and less volatile method of payment when compared to others.
Are XRP gambling sites legitimate?
Yes. XRP gambling sites are legitimate. Just make sure that you're on a safe and secure online casino, and you should be good to go. We recommend taking a look at the list of the best XRP gambling sites above, as we've checked them to make sure they meet all our requirements.
How is XRP used for casinos and betting?
You can use XRP just like any other crypto in the online casino or betting site. Log in, open the payments page, choose XRP, and confirm the transfer via your wallet app.