Cryptocurrencies that are the most convenient to use

The number and variety of cryptocurrencies grow every year at an incredible pace, but not all readers of Interfax Ukraine are deeply immersed in the topic of cryptocurrencies to understand which tokens can have a practical use, and which are nothing more than a scam tool created only to collect money from gullible investors. To understand which cryptocurrencies are actually widely used in everyday life, we asked 3 short questions to IGaming Crypto expert Edward Ackins. Ed, who has been in the industry for over 8 years and has handled hundreds of millions of crypto transactions, kindly agreed to answer them.

Which cryptocurrency is the most popular among players in the IGaming industry?

First of all, it should be noted that the number of users of blockchain technology between 2015 and 2023 increased from 3997943 to 43918652, that is, 11 times, the main cryptocurrencies currently used by players in the IGaming industry are:

1. Bitcoin (BTC)
2. Tether (USDT)
3. Ethereum (ETH)
4. Ripple (XRP)
5. Litecoin (LTC)

Bitcoin is the most popular cryptocurrency among players in the IGaming industry. Using Bitcoin is beneficial due to its security and availability on most platforms.

Tether is the second most popular cryptocurrency, a so-called stablecoin. The exchange rate of stablecoins is always tied to the exchange rate of the US dollar, so the Tether does not have the volatility that other cryptocurrencies have.

Which cryptocurrency has the fastest transactions?

Since not all cryptocurrencies are quite popular in the IGaming industry, some of the listed ones may not be presented on many partner sites, but statistics are available for almost all cryptocurrencies from the top 100 by capitalization, so now let's close our eyes on usage and consider only the speed of transactions:

1. Ripple (XRP)
2. Stellar (XLM)
3. EOS (EOS)
4. Nano (NANO)
5. Dash (DASH)

Ripple is the leader in transaction speed in the world of cryptocurrencies. Ripple transactions usually take no more than a few seconds. Stellar also has fast transactions that typically take less than 5 seconds.

Which cryptocurrency has the lowest fees?

Since our niche processes hundreds of millions of transactions monthly, their value is also critical for users. Based on the cheapness of transactions, according to our data, we will get the following list:

1. Nano (NANO)
2. Ripple (XRP)
3. Stellar (XLM)
4. Bitcoin Cash (BCH)
5. Litecoin (LTC)

Nano has the lowest fees of any cryptocurrency I have data on. Ripple and Stellar also have low fees, typically less than $0.01 per transaction.

Conclusion

Depending on the needs of people, they can choose any of the listed cryptocurrencies. However, if you have a large number of transactions for small amounts, which is typical of our industry, I recommend using Ripple, as it has fast transactions and low fees and is the undisputed leader among the top 10 largest cryptocurrencies by capitalization. At the same time, I consider myself a Bitcoin maximalist, so I wouldn't recommend anything other than Bitcoin for long-term storage.