That’s a title that would have made no sense at all a couple of years ago. But today, players at Dublinbet can fund their playing accounts using cryptocurrencies Ethereum, Tether and Litecoin.
The granddaddy of Crypto, Bitcoin is of course also available at Dublinbet. It has been so for a few years now.
Current price: $30,000
Unless you’ve been living under a rock, you’d be pretty familiar with Bitcoin. It’s been making (and more recently losing) fortunes for over a decade now. It’s the cryptocurrency that started the digital currency craze.
Here’s a little refresher on the ins and outs of using Bitcoin. The post was written back in 2013 when you could get a Bitcoin for the princely sum of $142. We’ve moved a long way from there, but all the key concepts remain the same.
A couple of fun facts about Bitcoin…
- It is now the official currency of El Salvador
- The current value of all Bitcoins on the market is $575 billion. In November 2021 this figure was above $1 trillion.
- Bitcoin’s creator(s) is unknown to the world, going only by the pseudonym Satoshi Nakamoto.
- The first commercial transaction using Bitcoin took place in May 2010 when Laszlo Hanyecz paid 10,000 BTC (around $300 million in today’s prices) for 2 Pappa John’s pizzas. Hope he enjoyed them!
Current price: $2,100
Ethereum was conceived in 2013. It’s the second largest cryptocurrency by market cap, with a total value of $250 billion.
Also a decentralised, peer to peer digital currency using blockchain technology, Ethereum was touted as being more robust and offering scope to build applications on top of its ledger technology. Seen as a Bitcoin 2.0 and with better commercial application some experts believed it would eventually supersede Bitcoin as the dominant digital currency.
That hasn’t happened yet. But if you want to by NFTs (WHAT?), you’ll need Ethers, not Bitcoin.
Current price: $1
Tether’s number three on the Crypto market capitalisation chart – $75 billion worth of the stuff currently in circulation.
Tether is hosted on the blockchains of other cryptocurrencies (Bitcoin and Ethereum among them). But it is a slightly different animal, known as a stablecoin. No coincidence the current price is $1. Its price is pegged 1 to 1 to the US dollar.
Issuing company, Hong Kong based Tether Limited represent to holders that they can at any time redeem a Tether coin for $1. This representation did run into legal problems when New Yorks’s Attorney General contested that only 2.9% of Tether (by value) is backed by cash held by Tether Limited.
Current price: $70
Litecoin was one of the early Bitcoin spinoffs (or altcoin) coming into existence back in 2011. It is described by Wiki as being nearly identical to Bitcoin from a technical perspective.
The total value of all Litecoins mined date is under $5 billion – significantly less than some of the newer and sexier altcoins like Avalanche and Solana that are only a couple of years old.
Dublinbet players can now use any of these currencies as a deposit option.
You can also withdraw funds from your casino account, to a nominated address in any of these currencies.