The Ripple payment solution in gambling
According to reports the Ripple (XRP) coin has been added to a list of cryptocurrencies available on the gambling website 1xBit.com. This has made Ripple become the 20th supported digital asset supported by the gambling platform. Making it the third most dominant cryptocurrency after the Bitcoin and Ethereum implementations. The XRP coin has gained a lot of popularity over the pass few years amongst the cryptocurrency community due to low transaction fees and fast transaction speeds. This has made it one of the most perfect payment solutions for the crypto-gambling website. The platform has also recently added three new cryptocurrencies to its platform namely, Qtum, Stratis and Verge.
Why the use of Ripple XRP is great for gambling
The Ripple cryptocurrency is a well-known cryptocurrency that was designed to facilitate payments across the financial system. By using Ripple to deliver payments between countries, businesses can avoid unnecessary financial management, time and labor costs. Payments are sent according to a few strict rules together with specific transaction costs.
The Ripple coin can also be used by a multitude of corporations with some great benefits, as well as the benefits of using it for gambling. This includes activities like:
- The great anonymity that the coin provides in order to facilitate payments in fiat-currencies. As users do not need to provide any personal data in order to top up their wallets. Players can register on the 1xBit platform and deliver payments in cryptocurrencies, which will guarantee anonymity.
- Transactions come with a high rate performance speed clock, which is considered even faster than what the SWIFT network can offer, together with high scalability. The XRP coin can take up to around 4 seconds for the confirmation of transactions. This is different from Ethereum as this figure exceeds the 2 minute confirmation time, while Bitcoin will take more time.
- The platform also offers a minimum commission transaction cost, that is required of around 0.00001 XRP as standard for the network. Players at 1xBit can withdraw winnings without any commissions. The player only pay the transaction fee deposites.
- Ripple is a great investment as the value increases overtime. Making it great for online gambling in the cryptocurrency industry.
Ripple is on it’s way to becoming a global payment system for the future and is currently being used for payments in major banks like, UniCredit , Western Union, Santander and the UBS. The coin is also supported by major corporations like Google and Microsoft.
Tron was also a new added cryptocurrency to the gambling platform back in early December 1xBit. With plans to add Tether (USDT) to its list. Tron has now moved its way up to being the 10th cryptocurrency by market cap.