Ripple Online Casinos

Ripple Online Casinos

There are not that many payment methods that both fiat and digital currencies, but Ripple is definitely one. This is the solution you need if you intend to play across online casinos using both fiat and cryptocurrencies, for a low cost. It was designed in times when people needed this the most, and that’s why it has received huge success globally. Naturally, it got embraced by the online gambling industry, and many online casinos started accepting it as a payment method. What is it and why use Ripple as your online casino payment method?

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Ripple FAQs

What is Ripple?

Many are confused as to what Ripple really is. It is an open-source, real-time currency exchange network, which offers its own token, the XRP, which has received global success. Both Ripple and its native token are widely embraced across many industries, the online gambling industry included.

Are Ripple and XRP the same thing?

No, not really. The former is the name of the company, the network, the service that provides the latter through the payment network RippleNet. Even though they function together, they two can be reviewed separately, as they are independent.

Is it available across the globe?

Well, if you visit its official website, you will see that it is available across six continents, in more than 55 countries globally, and ed by a network of over 200 financial institutions worldwide. If interested whether it is an option in your country, either visit its website to find out or do your own research in your country, visiting some of the leading financial institutions to see whether it collaborates with them.

Does the value of XRP fluctuate?

As you would assume, yes. Just like the value of any other digital asset, the value of XRP fluctuates based on the market dynamics. But, as you will see soon, its value does not go through some rigorous fluctuations like, say, Bitcoin’s value does.

Which are some of the best wallets to store my coins?

The company cannot endorse or recommend any wallets, so it never does. However, it advises you to conduct your own research before trusting any wallet with your coins. There are plenty of wallet types available out there, you’ll need to look for the best one by yourself.

About Ripple

about_ripple If what you read so far in the FAQs section might seem confusing, let’s clear everything up. Ripple is the currency exchange network created by Ripple Labs Inc, a US tech company. The network was launched in 2012, offering s an invaluable payment solution, built upon an open-source protocol, which s both fiat and digital currencies. It has its own ledger that employs its native XRP token, a decentralized cryptocurrency, known to the world as the third-largest coin as of 2020.

David Schwatz, Jed McCaleb and Arthur Britto were the three men behind the entire concept. They partnered with OpenCoin, more precisely, with the man behind the financial service, Ryan Fugger. OpenCoin has been operating since 2005, providing secure online payments to s, via its massive global network. The XRP token was based on the Bitcoin concept, and the technology behind it, but this new token was much smaller than the pioneering token. It was only used by the financial institutions that form the network to move money online in a split second, at very low costs.

Offering what it did, the company managed to get the full attention of many financial institutions and banks. In fact, by 2018, over 200 financial institutions and banks had signed up to start using its payment system. But, naturally, a problem occurred. Since banks are controlled and overseen by the respective authorities, they wouldn’t want to use the XRP token, but only Ripple’s XCurrent messaging technology, which would speed up their transactions. And since XRP, like any other cryptocurrency, is of decentralized nature, with authority problems, these banks interested in the XCurrent messaging tech refused to adopt it. That same year, the company made a choice: since it couldn’t put the whole world on a blockchain and considering the from the financial institutions, it decided to acknowledge its stance.

Today, it is the only blockchain company that has partnered with so many financial institutions and banks across the globe, working with them, their governments, regulators and anything in between, just to ensure that the way the world moves money online was way more improved and modern. American Express, Santander and Money Gram are just some of the major financial brands that have embraced it. They have all gathered that what the company offered was essential in today’s world: money needs to be moved like information today, quickly and online.

And considering the company stayed loyal to its initial aim and mission, it got the recognition it deserved and continued expanding its reach. It even got named in the MIT Technology Review as one of the 50 Smartest Companies in the world and tells you a lot about its success. Considering all of this, it should come as no surprise to you why the deposits, stay with us.

Types of Services Offered

big_logo (1) Even though we will try to explain Ripple the best way we can, we encourage you to visit its official website, as you will be amazed how informative it is, and how explicitly and transparently it offers a description of every aspect of the company and the cryptocurrency.

Essentially, what you need to know is that Ripple is the network offering the native XRP crypto. Thanks to the fact that the company has partnered with multiple parties, which connects many providers, Ripple is a scalable and secure solution, running on advanced blockchain technology. And thanks to that, it can operate without its crypto, unlike other cryptocurrency solutions, and that’s how it can be offered to banks which don’t want to digital currencies. These banks and financial institutions are offering it as a modern eWallet, allowing for incredibly fast and safe money transactions all across the world.

But if you want to use the crypto, you should know that the coins cannot be mined. They are pre-mined, so no mining process can be done to get a hold of some new coins. New coins can be generated during a transaction. The reason why is explained in detail on the official website.

To get some coins

…go to platforms like Kraken, Bittrex or Bitstamp, as they all XRP, and purchase the tokens with fiat currencies. Then, you’d need to create an eWallet, preferably with GateHub, and get your wallet address to start using the crypto.

Anyway, the platform s the XRP crypto but also over 40 fiat currencies, and as an exchange platform, it is the bridge between two currencies that manages to exchange them in about three seconds. That’s what makes this solution so fast and so cost-effective.

How to Deposit with Ripple

Considering you’ve decided to use the crypto for funding your online casino , purchased some coins and created your eWallet, you’re ready to start depositing. But first, of course, you would need to find a well-reputed casino that accepts the crypto. There may not be as many online casinos accepting XRP as there are for Bitcoin, but you will see that you’ll find a decent number of sites that do. one that suits you most, and continue.

While you’re creating an with the casino, you will probably be asked to choose your deposit method. If not, you would need to do the following:

  1. Head over to the casino’s Cashier/Banking page.
  2. From the cryptocurrencies offered, choose XRP or click on Ripple’s logo.
  3. In the new window, enter your eWallet information.
  4. Specify how much you’d like to deposit, scan the QR code with a mobile app if using a phone app or enter the wallet’s address.
  5. Confirm the transaction and the deposit will arrive on your balance in an instant.

How to Make a Withdrawal?

As you would assume, since it is a cryptocurrency, you could make withdrawals with this solution. The procedure is pretty similar and intuitive.

This time, you’d need to specify how much you’d like to withdraw and go through the identification and verification processes. After you confirm your request, you’d need to wait for the casino to approve the transaction. As soon as it does, the coins will arrive back to your eWallet, to be used as it suits you.

Country Restrictions and Other Limitations

When it comes to country restrictions, Ripple is, as mentioned, available in more than 55 countries across six continents. It should be available to you, as long as you’re a citizen of these countries. XRP, on the other hand, as a cryptocurrency, has an even wider acceptance, since virtually anyone, from any country, can use digital currencies.

The platform s, as mentioned, over 40 mainstream currencies, so you shouldn’t have problems in regard to the currency used.

When it comes to the crypto, it can be purchased across many platforms, but that the coins are pre-mined. You cannot mine new ones, and they already have their own pre-set value.

Advantages and Disadvantages

One of the main things that discourage people from using Ripple is the fact that it sounds very confusing. Unless you visit its website and actually see how straightforward and intuitive the solution is, you might think that it is quite intimidating. The fact that Ripple is the network, the exchange platform, but there’s also a blockchain and a crypto involved in the process, really confuses people, as it confused many banks and financial institutions when it first started. But things are actually very clear: Ripple offers quick and safe money exchange over the internet, regardless of whether you want to use its native crypto or not.

If you decide to use the crypto, though, we must mention other disadvantages, the crypto-related risks. However, if you , since the coins are pre-mined, and they have a certain value, there won’t be as many fluctuations as with, say, Bitcoin.

On the plus side, keep in mind how many banks and leading financial institutions have decided to collaborate with it, how many names are satisfied with its platform. The intellect behind the entire concept is what made it so popular in the finance world, so it is definitely not an easily dismissible solution. Thanks to all of this , it is a reliable, globally used solution, accepted in over 55 countries across six continents.

The fact that it completes transactions, exchanges, in mere seconds is simply amazing, and that’s thanks to its powerful payment platform which allows for not only instant, but also cost-effective transactions. The exchange fees involved for these speedy transactions are ridiculously low, insignificant, and that’s thanks to the fact that bank commissions are out of the picture.

Final Analysis

Let’s put it like this: think of Ripple as the mediator, the middleman, connecting fiat and digital currencies. Its platform, its system, its network allows for incredibly fast, convenient, and cost-effective transactions. Many banks and financial institutions all over the world have put their trust in it and made it as popular as it is today.

It is a solution already accepted across a decent number of online casinos. You can use it to transact with both fiat and digital currencies. If you choose to use the XRP token, you’d need to treat it like any other crypto, keeping in mind that you cannot mine it, since the coins are pre-mined, but you can purchase it on exchange platforms for fiat currencies, regardless of your country of residence.

On that note

…the solution is available worldwide, in over 55 countries across six continents, and has partnered with some major names on the financial scene, and that speaks volumes about its qualities. Therefore, make sure you at least give it a try, so that you can see how powerful and useful this solution can be as an online casino payment method, especially since it allows for instant deposits and withdrawals, at a seriously low cost.

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