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Stake.com is among the fastest-growing crypto casinos today. Much of its incredible expansion can be attributed to the popularity of cryptocurrency. The reach and value of the crypto market have soared since the introduction of the first coin in 2009.
Today, there are more than 10,000 crypto coins circulating in the market. However, it’s worth noting that the top 20 coins still account for about 90% of the total market. That explains why Bitcoin (BTC) is still the most popular despite the introduction of new players. In fact, it’s the first cryptocurrency to be used in an online casino in 2014. Since then, the likes of Ethereum (ETH) and Tether (USDT) have followed suit.
More gamblers today prefer using crypto in their activities rather than fiat currencies. The decentralization and anonymity of blockchain transactions have fueled the growth of crypto in the world of gambling.
Furthermore, these changes have inspired online casinos to invest more in their digital payment methods. A good case study is Stake.com, which adopted 11 new cryptocurrencies, including a slew of stablecoins and famed meme coins Shiba Inu (SHIB) and ApeCoin (APE). The largest crypto casino in the world, Stake.com has grown even larger by having the biggest offering of cryptocurrencies in the online gambling industry.
Are you wondering which of the new crypto suits your needs on Stake.com? This article will help you chew over each of these altcoins. But first, here is a quick look at the crypto gambling giant, Stake.com:
What is Stake.com?
Stake.com is currently one of the most talked-about brands in online gambling. It prides itself on a state-of-the-art betting platform that strives to meet the needs of the modern consumer. But how did it get here and why the popularity?
The journey of this crypto betting firm began in 2017 when it commenced its operations. The website is operated by Medium Rare NV, a company regulated and licensed by the Curacao government. This license allows the company to offer its services using different country-specific URLs.
For instance, it now runs in the United Kingdom under the URL Stake.com.uk. It received its UK license in 2021 after agreeing to adhere to the strict crypto gambling policies set by the UK government. The main website is geo-blocked in certain countries though, such as the United States, Spain, France, and Italy.
Sponsorship deals and partnerships with renowned figures have contributed to Stake.com’s popularity. The most notable names on the list include Israel Adesanya, Sergio Aguero, Pietro Fittipaldi, and Enzo Fittipaldi. They’re all tasked with spreading the gospel and building Stake.com’s reputation in their various sports sectors.
Drake is another popular name currently associated with this betting company. The Canadian rapper signed a deal to become Stake.com’s ambassador across various platforms. Stake sponsors Drake & Stake channel, among other Twitch streams.
Stake.com has a reputation for spending big money to earn its reputation as the largest gambling website in the world. Apart from the individuals mentioned above, Stake has partnered with big sports institutions as well. The company struck a deal to become the Ultimate Fighting Championship’s (UFC) betting partner. Additionally, it sponsors English Premier League (EPL) teams, Watford FC, and Everton FC.
What does Stake.com offer?
The recent growth in Stake.com’s cryptocurrency inventory is just another step toward separating itself from the pack. This can be seen in the number of games it offers to its loyal gamblers. With over 3000 slot games available online, there is no shortage of options for their various sponsored Twitch streamers to play and keep the slots category a Top 10 tag on Twitch.
What’s in store for you as a crypto gambler? The main game categories you’ll enjoy on the Stake.com platform include:
- Blackjack
- Game shows
- Baccarat
- Jackpot slots
- Table games
- Slots
- Roulette
- Live casino
There is also a selection of other games that are unique to Stake’s website. They all have a fair probability, which is good news to all gamblers. If interested, you can play Keno, Dice, Crash, Blue Samurai, Slide, Wheel, Scarab Spin, Mines, Limbo, Video Poker, and Hilo.
In addition to casino games, you can bet on various sports events. EPL, La Liga, UEFA Champions League, Serie A, and Europa League are some of the most popular football events on Stake.com. If you’re not a football fan, you might want to try some competitive markets in basketball, tennis, and cricket sections.
Which crypto coins does Stake.com support?
With a variety of games to play, which currencies can you use to place your bets? Fortunately, Stake.com has also invested in its payment system. Although the company may accept some fiat currencies, it’s predominantly a crypto gambling site. As such, most of its payment options are crypto wallets.
The addition of 11 cryptocurrencies means the platform currently supports more than half of the top 20 coins. As mentioned earlier, Bitcoin has been the most used crypto on Stake.com for many years. Its popularity and reputation are among the reasons gamblers still prefer it to many other digital currencies.
But that’s not to say you can’t enjoy your betting experience using alternative coins. As a matter of fact, Ethereum (ETH) and other top coins try to match BTC’s popularity and are even cheaper. Here is the initial list of Stake-supported crypto to give you a better idea of how things changed:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Ethereum (ETH)
- EOS (EOS)
- Dogecoin (DOGE)
- Tron (TRX)
- Ripple (XRP)
Aside from the seven altcoins above, here are other crypto names that Stake.com adopted in August 2022:
Stablecoins
- USD Coin (USDC)
- Tether (USDT)
- Binance USD (BUSD)
- Dai (DAI)
Meme coins
- ApeCoin (APE)
- Shiba Inu (SHIB)
Others
- Binance Coin (BNB)
- The Sandbox (SAND)
- Polygon (MATIC)
- Uniswap (UNI)
- Chainlink (LINK)
Do you want to learn more about these crypto tokens? The following section will briefly discuss each one of them to help you make an informed decision:
Stablecoins
A stablecoin is a cryptocurrency whose value is tied or pegged to a financial instrument, currency, or commodity. Hence, its price tends to match the value of the respective asset at all times. Some of the main types of stablecoins include fiat-backed, crypto-backed, and algorithmically stabilized coins. `
Stake.com currently accepts at least one stablecoin in the mentioned subcategories. Have a look:
- Tether (USDT)
Tether (USDT) is the largest stablecoin with a market capitalization of over USD$68B (at the time of writing). USDT has grown to become the third most popular cryptocurrency since its creation in 2014. If you’re looking for one of the best altcoins to use on Stake.com, USDT is an excellent candidate.
- USD Coin (USDC)
As the name suggests, USDC is pegged 1:1 against the actual US dollar. It’s the second and fifth most popular stablecoin and cryptocurrency respectively. The creators claim that users can exchange one USDC for an actual USD at any time. Although USDC’s price changes in real time, there hasn’t been any significant deviation from the current price of the US dollar.
- Binance USD (BUSD)
Another popular dollar-pegged stablecoin is Binance USD, founded by Binance and Paxos. BUSD maintains a 1:1 match with the value of the United States dollar. Paxos holds an amount of the US dollars that equals the total BUSD supply to support this equivalence. Therefore, any slight change to the price of the USD affects BUSD’s value.
Binance USD has performed tremendously since its launch in 2019, and that’s evident in its market cap. As of 2022, BUSD has a market cap of over USD$21B.
- Dai (DAI)
DAI is an algorithmic crypto-backed stablecoin managed and issued by MakerDAO, a company headquartered in California. The crypto coin was launched in December 2017, and its price is pegged to the US dollar, although not directly. The USD value match is guaranteed several crypto assets kept within MakerDAO’s smart contracts safe.
So, why should you consider the stablecoins available on Stake.com? Unlike other cryptocurrencies, this group of coins allows you to transact with minimal risk of market volatility. They’re also quite affordable since their prices always hover around 1 USD.
Meme coins
Meme coins are based on internet memes and have some humorous characteristics. Today, they’re among the most popular and high-value cryptocurrencies in the market. There are at least three meme coins you can use to bet on Stake.com. Here are the two that the company adopted recently:
- Shiba Inu (SHIB)
After Dogecoin (DOGE), Shiba Inu is the second most popular meme coin. SHIB was actually initially created to rival the market share of DOGE. Since its introduction to the market in 2020, it has grown to become the 14th largest cryptocurrency, with a market cap of USD$6.3B.
- ApeCoin (APE)
ApeCoin is a meme coin running on the Ethereum network and governed by Apecoin DAO. It’s affiliated with Bored Ape Yacht Club (BAYC), a non-fungible token (NFT) project by Yuga Labs. APE’s average price and market cap as of October 2022 were USD$5.22 and USD$1.64B respectively.
Other new altcoins
- Binance Coin (BNB)
Changpeng Zhao, also known as CZ, launched Binance Coin in 2017. As of 2022, BNB has a market cap of USD$45.8B and trades at around USD$283.
- The Sandbox (SAND)
The Sandbox coin was created as a transactional token in the Sandbox virtual world. When Stake.com adopted it as part of its payment options, the SAND traded at around USD$0.85. It also had a market cap of USD$1.27B in 2022.
- Polygon (MATIC)
Another altcoin to consider on the Stake.com website is Polygon, which joined the market in 2017. Polygon’s main objective is to take advantage of Ethereum’s scalability issues. Its blockchain is designed to handle thousands of transactions every second, something that the Ethereum blockchain struggles to accomplish.
Trading as MATIC, Polygon current price is about USD$0.77 and has a market cap of USD$6.75B.
- Uniswap (UNI)
Stake.com also added Uniswap (UNI) to its list of supported cryptocurrencies in August 2022. Hayden Adams created the altcoin in 2018 before it was launched two years later. Today, UNI is the governance token of Uniswap Decentralized Exchange (DEX) with a market cap of USD$4.9B. Its price as of October 2022 was USD$6.38.
- Chainlink (LINK)
The last altcoin that Stake.com adopted in 2022 is Chainlink, which trades as LINK. It was created in 2017 and has grown to average a market cap of USD$3.8B. LINK’s exchange rate currently stands at around USD$7.5 per coin.
What are the pros and cons of crypto in gambling?
Cryptocurrencies are slowly becoming part and parcel of modern online gambling. But are they worth it? Here are some of the pros and cons to consider in your decision-making:
The pros
- Top-notch security
You don’t need to submit your personal data to transact with cryptocurrencies. Thus, there is no risk of identity theft, as experienced in other payment systems today.
- Enhanced privacy
Although all transactions can be seen by everyone on the network, your official names aren’t displayed. So, if you need privacy in your gambling activities, crypto is your best bet.
- Quick transactions
Transacting cryptocurrencies is quicker than conventional currencies because you don’t need to go through centralized authorities. You enjoy instant transfer of the coins from your crypto wallet to the betting account.
The cons
- High volatility
Since the number of crypto coins circulating in the market is limited, their prices keep bouncing up and down after every transaction. This high volatility may negatively impact your gambling experience. Of course, stablecoins may reduce the risk, but they’re not completely immune to the sudden change in prices.
- Untraceable
The anonymity of crypto transactions is often viewed by many as an advantage. However, it can also be a disadvantage in case of any cybercrime against you. This level of privacy is usually associated with criminal activities because it makes it easier for one to get away with fraud. Therefore, it’s important to ensure that your preferred betting firm has the necessary resources to curb fraudulent activities.
Conclusion
The new cryptocurrencies adopted by Stake.com are expected to enhance the company’s growth even further. Bitcoin and Ethereum (ETH) have been the go-to digital currencies on Stake.com’s platform for a long time. With a few more meme coins and stablecoins now available, gamblers will have a wide range of payment options to use.
Shiba Inu, APE, USD Coin, Tether, Binance Coin, and Binance USD are some of the most popular altcoins that the company adopted in August 2022. Note, however, that all the prices and market caps mentioned in the article are as of 2022 and are subject to market changes.
