There are now more than 21,900 individual cryptocurrencies, and the rate at which new cryptocurrencies are being introduced shows no signs of slowing down any time soon. Here is a closer look at which cryptocurrencies have performed well throughout 2022.
What are cryptocurrencies in a nutshell?
Cryptocurrencies can be described as digital tokens or digital assets that somebody can use to send and receive online payments to anyone worldwide and pay for goods and services. They can be circulated online without a banking institution or centralized government authority intervening, which is why cryptocurrencies are also often referred to as decentralized digital currencies.
Top 10 cryptocurrencies in 2022 based on market capitalization
Based on their market capitalization value in 2022, here are ten of the biggest cryptocurrencies that many of you will already have heard of by now. They include the following:
- #10: Polygon (MATIC) – market cap is £6.5 billion, which equates to US$7.9 billion, or €7.43 billion
- #9: Cardano (ADA) – market cap is £8.9 billion (US$10.83 billion, or €10.17 billion)
- #8: Dogecoin (DOGE) – market cap is £10.69 billion (US£13.00 billion, or €12.22 billion)
- #7: XRP (XRP) – market cap is £16.00 billion (US$19.47 billion, or €18.29 billion)
- #6: Binance USD (BUSD) – market cap is £18.06 billion (US$21.97 billion, or €20.65 billion)
- #5: US Dollar Coin (USDC) – market cap is £35.2 billion (US$42.84 billion, or €40.24 billion)
- #4: Binance Coin (BNB) – market cap is £37.8 billion (US$46.00 billion, or €43.22 billion)
- #3: Tether (USDT) – market cap is £53.3 billion (US$64.88 billion, or €60.96)
- #2: Ethereum (ETH) – market cap is £127.9 billion (US$155.69 billion, or €146.29 billion)
- #1: Bitcoin (BTC) – market cap is £265.7 billion (US$323.49 billion, or €303.96 billion)
People use cryptocurrencies to pay for a whole range of things online today. Some have used cryptos to pay for artwork, tickets to sporting and music events, pizzas, property, cars, and various other things. Cryptocurrencies can also be used to deposit and withdraw at online casinos.
For example, you can now visit new crypto casinos and have fun playing over a thousand online slot machines and classic table & card games, such as roulette, blackjack, baccarat, and poker, thanks to them accepting cryptocurrencies.
These top ten market capitalization cryptocurrencies, along with the 21,000 other cryptos out there today, tell us that the entire value of the crypto market is around £697 billion (US$848.20 billion, or €979.42 billion). It’s for the total amount of coins that are currently in circulation online.
The thing you have to remember with cryptocurrencies is that they have no legislated or fundamental value. They are only worth what people around the world are willing to spend on them.
Network nodes verify each crypto transaction through what is called cryptography, and all of the transactional information is recorded in a publicly distributed ledger which is otherwise known as the blockchain.
Most popular cryptocurrencies that are currently accepted at online casinos
The most commonly accepted cryptocurrencies at online casinos and other similar fully licensed gambling sites, such as online sports betting websites, poker sites, and bingo sites, are BitCoin, Bitcoin Cash, Binance Coin, Cryptopay, Dash, Dogecoin, Ethereum, Ethereum Classic, Litecoin, Polkadot, and Ripple.
You can also now use several other cryptocurrencies to deposit and withdraw at online casinos, such as Shiba Inu, Stellar, Sushiwap, Tether, Tron, and Uniswap, to name just a few.
Is it safe to use cryptocurrencies at online casinos?
Using cryptocurrencies at online casinos is perfectly safe when depositing and withdrawing. In fact, cryptocurrencies are widely regarded as being more secure than traditional payment options, such as credit & debit cards.
You have to make sure that a reputable operator controls the casino you have signed up to and that it’s fully licensed to offer real cash gambling services. Also, make sure that the cryptocurrency casino you have signed up to is protected by Secure Socket Layer (SSL) encryption technology.
Things to remember when gambling for real money at online casinos
If you’re going to gamble for real money at online casinos, try to gamble sensibly and never spend more than you can afford. Gambling for real money comes with its risks, so only spend money that you can afford to lose.
It’s also important that you don’t chase your losses or ever treat gambling as a way to make money. You must be at least 18 years old to play online casino games for real money. However, in some Canadian provinces, US states, and several other regions around the world where online gambling is legal, the legal minimum gambling age might be 19, 20, or 21.
Where possible, set limits when you log in to your preferred gaming account. Just look for the ‘safer gambling tools’ or ‘responsible gambling’ section, where you can set deposit limits, spending limits, and/or session time limits yourself. It’s one of the most effective online casino bankroll management tools that players currently have access to.
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