6 Types of Coins Crypto Loko Accepts

As you probably already know, cryptocurrency is all the rage. But what you likely don’t know, is why it’s become so popular. More importantly, the various cryptocurrency methods of Crypto Loko. Allow us to enlighten you.

Cryptocurrency is a virtual currency. It acts as a medium or ‘middle man’ of currency exchange. This type of currency uses what we call cryptography (code) to secure transactions. As such, it is known to be highly secure.

Send your money anonymously

Cryptocurrency also allows you to send money anonymously. You can easily use any cryptocurrency to send or receive money anonymously. Your name and previous financial history aren’t liked to the transfer of funds, unlike most other traditional banking exchange methods.

Inflation has no merit here

Unlike traditional currency, cryptocurrency does not budge, despite a change in inflation or deflation. Why? Crypto has no central bank. Instead, there is a ledger running on many many computers around the world. While it’s known to be volatile, it can also be considered safe as its value isn’t determined by governments and central banks.

Privacy is key

Looking to send money discreetly? Crypto is the way to go. In today’s modern and technological world, privacy is not an easy thing to come by. Especially when it comes to online banking and transactions. Because cryptocurrency doesn’t use a bank or third party to verify transactions, they are completely secure and anonymous. The government or law enforcement has no jurisdiction over crypto records as they lack a physical ledger.

So why is Crypto Loko so important?

Crypto Loko is only one of the best crypto casinos currently out there. Okay, maybe we’re a little biased. But let us tell you why.

Crypto Loko has a very extensive list of games to offer you. That’s right. Huge game library. Being heavily RTG-focused, they have all of the new and popular slots for you to spin the reels on. Fortune Buddha, Cash Bandits Museum Heist, Giant Fortunes, Warrior Conquest and more.

Not a fan of slots? Not to worry. Crypto Loko has you covered with a variety of classic table games. Such as Blackjack, Roulette, Tri Card Poker and more. Just when you thought you might be out of options, they also have a specialty games tab. Here you can find some more unique online games like different versions of Roulette and Blackjack and even Keno.

What kinds of Crypto do they accept?

Let’s get to the important stuff. Because let’s face it, it’s all about crypto. What are the 6 types of crypto that Crypto Loko accept?

Bitcoin (BTC)

The big one. Bitcoin was introduced in 2009. It is arguably the most popular cryptocurrency in the world. This cryptocurrency inspired the creation of many others. Bitcoin can be created, traded, and stored using the online ledger known as blockchain.

You can mine Bitcoin (if you haven’t heard). However, the process is tedious and most are unsuccessful. You can either join a group of miners or purchase mining software of your own. This is also very time-consuming.

Most people who want Bitcoin will simply purchase the coin from a cryptocurrency exchange. Some popular ones are Coinbase, Kraken, Crypto.com, Blockchain etc. Although you may not be able to purchase an entire Bitcoin. It’s a little bit on the pricey side at almost 40K per coin.

Watch out for those price dips

Bitcoin has certainly had its ups and downs since its creation. People who purchase Bitcoin for less than one cent per unit upon its creation and actually managed to hang onto to the coin 10 years later are mega-rich right now.

How do I pay with Bitcoin?

To use Bitcoin as a form of payment, you will need to have a cryptocurrency wallet. These wallets will hold the keys to your Bitcoin and you will need to enter them before performing any transaction.

Certain brick-and-mortar shops will allow you to pay using Bitcoin. Especially when ordering online. In this case, you will usually need a QR code.

Bitcoin Cash (BCH)

A lot of people mistake this for Bitcoin’s ugly sister. It is a result of the 2017 occurrence. The blockchain essentially split into two and Bitcoin Cash was born. Bitcoin Cash allows for more transactions in a single block compared to Bitcoin. As a result, you have lower fees and transaction times. The cheaper version of Bitcoin. To many people, Bitcoin has become more of an investment than a form of payment. Bitcoin Cash set out to alleviate and solve this problem.

Now, when we say it’s faster than Bitcoin. We are talking about nanoseconds here. But, it may make a difference the next time you want to withdraw at an online casino.

Whether you’re looking to invest or use it as a form of payment, Bitcoin Cash is currently trading at a much cheaper price than Bitcoin. Certainly more affordable for most users.

Ethereum (ETH)

Commonly referred to as ether. Ethereum was established in 2013 as a decentralized software platform. Ethereum has become quite popular in the last decade. It’s designed to be used by anyone for secure technology. However, it’s most commonly used among developers and businesses creating technology.

Ethereum uses blockchain technology to function. Essentially, a new block is added to this chain with new data. An identical copy of that chain is distributed. The blockchain does get proofed by a group of automated programs.

Ethereum has since become a huge Bitcoin competitor. It has risen in value significantly since being established.

Litecoin (LTC)

Litecoin was created in 2011 from a “fork” in the Bitcoin blockchain. It was developed as a solution to tame concerns that Bitcoin was becoming too centralized. They wanted to make it harder for mining companies to take control of mining the coin as well.

Although you can mine Litecoin, the process is difficult and tedious like Bitcoin. A key difference between Bitcoin and Litecoin is Litecoin’s hashing algorithm called Scrypt.

If you want to purchase Litecoin, you can do so on most of the large crypto wallets as mentioned above.

Dogecoin (DOGE)

Dogecoin was actually founded in 2013 as a bit of a joke. A jab at cryptocurrencies, making light of them. The Shiba Inu crypto coin logo steals hearts. And now, fast forward a decade and it’s one of the more popular coins on the market. Today, it’s one of the 10 biggest coins that exist.

Ripple (XRP)

Ripple or XRP was founded in 2011. It was originally built to solve global payment issues through its exchange. It’s taken the cryptocurrency market by a storm and remains one of the faster and cheaper cryptocurrencies.