About Ripple

Launched in 2012, the Ripple blockchain - and its native XRP cryptocurrency - were created to replace traditional cross-border payment systems like SWIFT.

Unlike many cryptocurrencies that rely on mining to validate transactions, XRPs were pre-mined at launch. Of the 100 billion tokens created, roughly 63 billion are in circulation. The rest are held by Ripple Labs, which releases up to 1 billion coins monthly.

While there are exceptions regarding countries where crypto is banned, Ripple is available in most markets, including Europe, Asia, and the Americas. This global reach makes Ripple one of the most efficient crypto options for online casino players.

Why Use Ripple in Online Casinos

Ripple's widespread availability is far from the only reason this digital currency should be adopted on online gaming platforms. Here's a complete breakdown of the advantages that Ripple brings to online casino payments:

• Near instant transactions: The Ripple blockchain is one of the fastest in the world of cryptocurrencies. On average, it takes about 4 seconds for a transaction on the Ripple network to be verified. That's 4 times faster than Ethereum's 16-second verification and a whopping 150 times faster than Bitcoin's blockchain.
• Low transaction fees: A standard Ripple transaction costs 0.00001 XRP (roughly $0.00002), a symbolic amount that has stayed the same for years. Essentially, these commissions only exist to prevent spam, and they're so low that they make Ripple one of the cheapest cryptocurrencies to transfer.
• Easily scalable network: Ripple was built to be used on a global basis and replace the slow and expensive SWIFT system used by banks and other financial institutions. As such, it's highly scalable and can process 1,500 transactions per second (TPS), 100 times more than Ethereum's 15 TPS.
• High transaction security: As a blockchain-based currency, Ripple boasts transactions that are fully encrypted, secure, and safe from interference or fraud. The advanced cryptographic algorithms protect your data and provide a level of security that no traditional payment method could ever offer.

How to Deposit Ripple Coins at an Online Casino

Loading funds into your online casino account with Ripple is super easy. These simple steps can guide you through making an XRP deposit, as long as the platform supports this crypto:

1. Register for the casino: Head to the online casino's official website and click the Sign Up/Register button in the top right. Then, fill in the details and create an account.
2. Complete the verification: If necessary, click the link in the email sent by the casino or input the code you've received via SMS to verify your new casino account.
3. Log in and select XRP: If you're not automatically logged in, tap the Sign In button and input your credentials. Then, tap Deposit and locate Ripple in the crypto section.
4. Open your crypto wallet: Scan the auto-generated QR code with your phone's camera. Alternatively, manually copy the deposit address and paste it into your Ripple wallet.
5. Enter the deposit amount: Once inside the wallet, input the amount you wish to deposit.
6. Finish the transaction: Before confirming the transaction, ensure the wallet address, network, and amount are correct. Once you confirm, your funds should appear in your casino account within a few minutes.

How to Withdraw Ripple Coins From Your Casino Account

Withdrawing Ripple from your casino account is just as easy as depositing. You can follow these simple steps to cash out your winnings:

1. Head to the withdrawal section: After signing in to your casino account, tap your profile icon and click Withdraw.
2. Choose Ripple (XRP): In the currency dropdown menu, select Ripple (XRP) as your withdrawal method.
3. Enter your Ripple wallet address: In a new tab, open your Ripple wallet and copy the address. Then, paste the copied address into the appropriate field on the casino page.
4. Specify the withdrawal amount: Enter the amount of XRP coins you wish to withdraw from your casino account.
5. Request a withdrawal: Double-check the wallet address and withdrawal amount, then click Confirm to process the withdrawal.

Fees and Limits of the Ripple Blockchain

While there have been a few exceptions, particularly around 2017 and 2018, Ripple's transaction fees have remained relatively stable. Sending XRP coins to another user will cost you about 0.00001 XRP (roughly $0.00002). However, Ripple has recently proposed an update that would raise the fee from 0.00001 XRP to 0.0002 XRP, a 20x increase.

Unlike other blockchains, like Ethereum, for example, the 0.00001 XRP commission isn't paid to validators that verify the transactions. Instead, the fees only exist to prevent spam and keep the network secure. After the transaction has been verified, the commission gets removed from the total XRP stock, which limits the supply of XRP coins over time.

In terms of transaction limits, Ripple is one of the most scalable blockchains. Compared to Bitcoin's measly 7 TPS maximum and Ethereum's 15 TPS, Ripple can process an impressive 1,500 transactions per second.

Pros and Cons of Using Ripple for Online Casino Payments

By now, it should be evident that Ripple offers numerous benefits. But, like any payment method, it also has a few drawbacks you should be aware of. Here's a quick overview of Ripple's strengths and weaknesses:

Pros:

• Near-instant transactions
• Minimal transaction fees
• Strong security and encrypted transactions
• Widespread availability

Cons:

• Network congestion from time to time
• Not as widely accepted as fiat currencies
• Limit support in specific countries

How Does Ripple Compare to Alternatives?

As a cryptocurrency, Ripple excels in many aspects. For instance, it offers lightning-fast transactions of about 4 seconds. Meanwhile, its fees are orders of magnitude lower than those of Bitcoin and Ethereum, which also often experience network congestion-related fee spikes.

On the other hand, XRP is behind these two cryptocurrencies in terms of adoption, appearing in far fewer crypto casinos. Put it up against conventional payment methods, like credit cards, e-wallets, and mobile payment apps, and that adoption difference is even more pronounced.

Yet, Ripple offers much quicker transfers at a fraction of the cost compared to any of these options, and that's what makes it a fantastic choice for online casino payments.