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What is Ripple and how does it work?

Ripple (XRP) is a cryptocurrency that connects providers through RippleNet, which is advanced blockchain technology. Ripple is a secure and scalable payment method and it’s an excellent choice for online casino players. It has gained popularity not only among blockchain users, but also with online casino enthusiasts

Meant for payment networks and banks, Ripple is a gross settlement system, a remittance and currency exchange network. It is a transparent and secure way for payment networks and banks to transact cash. Initially, Ripple wasn’t designed as a payment method. It was instead designed as a method of transferring different properties and currencies. However, many people across the globe started accepting XRP as a payment method and even some gambling sites have followed the trend.

The original company known as OpenCoin corporation started back in 2012 and it was co-founded by Chris Larson and Jeb McCaleb. By 2013, they changed the name to Ripple Labs and by 2017, XRP’s value increased 30 times its original value. Ripple now has a very large customer base and they are the third largest cryptocurrencies around the world.

With that said, the obvious difference between the crypto casinos and regular online casinos becomes apparent. Mainly that the live casino games experience with live dealer games and sports betting are not in the priorities of the XRP casino site.

Pros vs Cons of Ripple Deposits

  • Highly reliable
  • Incredibly fast
  • Lack of Volatility
  • Easy to access
  • Limited Ripple casinos
  • Few bonuses

The Top Ripple Casinos

BitcoinInstant Casino Welcome Bonus
Bitcoin Accepted Yes
Max Bonus
Deposit % -
Min Deposit
no bonus code required
Claim Bonus

5 Things You Should Know About Ripple Deposits

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  1. Ripple has some of the lowest transaction fees on the cryptocurrency market. Therefore, you won’t lose a lot of money to transaction fees while making Ripple deposits.
  2. It’s totally safe to use Ripple as a deposit method at online casinos. The method is legal and totally secure. They are licensed and the currency is operated by a single company.
  3. Getting started with Ripple isn’t as hard as it is with other payment methods. As long as you have XRP in your Ripple wallet, you just need to find a Ripple casino and make a deposit within a few minutes.
  4. It's a fast method. Ripple deposits are processed instantly and you can start playing your favourite games once the transaction has been cleared.
  5. Some Ripple casinos offer their customers deposit bonuses that are exclusively meant for deposits made via Ripple.

How to Use Ripple to Deposit at Online Casinos

Depositing money into your online casino account using crypto is slightly different from traditional method deposits. The process also differs from one casino to the other. However, depositing to Ripple casinos is very easy. Follow these steps:

How to Make a Ripple Casino Deposit
Estimated Time
10 min
What You Will Need
Ripple online casino account
Equipment Required
A PC/mobile device and a good Internet connection
My Account
1
Log into Your Casino Account
Log into your casino account, head to the banking section and search for RIPPLE
Deposit Amount
2
Select the Deposit Amount
Select the amount you would like to deposit
QR Code
3
Scan the QR Code
The casino will give you a QR code. Scan the code with your laptop or phone
Code Confirmation
4
Confirm and Enter the Code
Confirm and enter your Ripple wallet's address code
Deposit
5
Complete the Deposit
Wait for a few seconds and your Ripple casino account will be topped up.

What is the Ripple Network?

Ripple is a money transfer network that’s designed to offer financial services to people. XRP is a cryptocurrency created to work on the Ripple Network. Ripple is a platform offering blockchain-based solutions to interested parties. The network is used for value-transfer use.

Ripple utilises XRP ledger and two other protocols: Interledger and PayString. Interledger comes in handy when payments are being done and multiple systems are in use. PayString simplifies the payment addresses. Thanks to this, Ripple can handle mass numbers of transactions unlike other methods like Bitcoin. The XRP ledger can process 1,500 transactions in a second, putting it on equivalence with Visa. With such capabilities, you will never hear stories about Network jamming.

Ripple Casino Safety - Is Depositing With Ripple Secure?

XRP is managed by one company and the issuing of XRP is managed by trusted nodes who are selected by Ripple executives. That’s the starting point when it comes to the security of Ripple casinos. XRP uses a network that’s very secure for the remittance, so sending coins to and from casino accounts should be totally secure.

Although the transaction information is publicised, individual payment data isn’t visible to anyone else. What’s more, Ripple casinos are licensed and regulated by proper authorities. Most of these casinos have licenses from respected gambling authorities. Some even have SEALs of Approval from different entities.

From the casino’s end, you will find that the best Ripple casinos use the latest encryption to secure player’s data and payment transactions. With all these factors in play, you can rest assured that Ripple casinos are safe and your deposits are secure.

How to Withdraw Your Casino Winnings Using Ripple

Withdrawing from Ripple casinos differs from one casino to the other. Each casino has its unique guideline on how withdrawals are done. However, the process is somehow similar across many online casinos and here is a general guideline:

Log into your casino account
Double-check to see if you qualify for bonuses with deposit
Go to your casino’s banking section
Enter your unique wallet address
Enter the amount you want to withdraw
Once the casino clears you, the XRP coins will appear in your wallet
Choose Ripple (XRP) as your payment method

Ripple & Taxes - Do UK Players Need to Pay Taxes for Ripple Deposits?

In most states, gambling income is always recognised as taxable income. It includes the cash and the market value of anything you win. In such states, gambling winners must report their winnings on their income tax returns.

The good news is that UK players don’t need to pay taxes for their winnings. When it comes to gambling with cryptocurrencies such as XRP, the rules are very simple. The law states that you don’t have to pay taxes for your winnings. However, if you win, you should pay for capital gains.

If you’re still unsure about the taxation laws in your country, just declare any Ripple gambling related income. You can also contact a qualified accountant and ask for help. This could save you a lot of trouble.

3 Tips for Making the Most out of Ripple Casino Deposits

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Take advantage of deposit bonuses

Standing out from the rest, the best online casinos award their players regular bonuses. The best Ripple casino sites usually display welcome bonuses and promotions for their customers. These casino bonuses give you an extra chance to keep playing and winning on the casino. So you should always be on the lookout for Ripple casinos offering deposit bonuses.

Check fluctuation

Remember, just like any other cryptocurrencies, XRP’s rate keep fluctuating. Therefore, you should always check the rate before you make any purchase and deposit. That way, you will avoid making losses.

Check fees and flexibility

Before joining any online casino check if they have any fee requirements. Most Ripple casinos don’t charge any fees on deposits, but a few will impose some extra fee. Always go for the online casinos that don’t charge any fee.

Alternate Deposit Methods - Ripple Alternatives

Apart from cryptocurrencies like Ripple, there are other deposit methods accepted by online casinos. These are the traditional payment methods like debit cards, e-wallets and bank transfer. You will find these options listed on Ripple casinos as alternative payment options.

Alternative Cryptocurrency - Can You Use Crypto Besides Ripple at Online Casinos?

You probably know that XRP is not the only cryptocurrency being used by online casinos. Actually, there are so many cryptocurrencies accepted by online casinos. Some of them include Bitcoin, Dogecoin, Ethereum, Dash, Zcash, Litecoin and many more. Here are a few of Ripple’s alternatives, their uniqueness and advantages.

 Bitcoin

Bitcoin is known as the King of cryptocurrencies and the reason is that the method has been around for the longest time. Online casino players love Bitcoin because it has a worldwide appeal, it’s decentralised and secure. There are also many Bitcoin casinos and the method has been in use for long. What’s more is that Bitcoin deposits and withdrawals are extremely fast.

How to Deposit with Bitcoin

Ethereum

Ethereum is the second-largest virtual currency around. It’s also accepted by many online casinos worldwide. Players tend to prefer Ethereum because it offers quicker transactions than Bitcoin and they offer anonymity to their customers. The method also has low transaction fees, making it a popular choice among virtual currency users and casino players.

How to Deposit with Ethereum

Litecoin

Although Litecoin isn’t as big as the first two Cryptos, it’s still popular and widely used to make payments at online casinos. Litecoin also has a better proof of algorithm than most cryptos. In addition to this, it has extremely low fees especially when you are sending money to someone else.

How to Deposit with Litecoin

Frequently Asked Questions About Ripple Deposits

Casino.online FAQ

 How to check If an online casino accepts Ripple?

There are a great number of Ripple casinos around and finding them isn’t difficult. If you want to play at a Ripple casino, simply google a list of all the casinos that accept Ripple payments. For confirmation purposes, check the site’s list of payment methods and see if Ripple is listed as an option.

 Are Ripple Casinos Legal?

For a casino to be legal, it need to be licensed by a known gambling regulatory body. Some of the well-known regulatory bodies are the United Kingdom Gambling Commission and Malta Gaming Authority. If a casino holds a license from any of these bodies’ it means that it’s legal and safe.

 What can I do if my casino doesn’t accept Ripple?

If your casino doesn’t accept Ripple and you really want to play on a Ripple casino you have to find one. That doesn’t mean you will have to quit your casino since you can keep both casino accounts. Look for a Ripple casino, create an account and start playing.

 How long does it take to withdraw winnings using Ripple?

Just like deposits, withdrawals are processed fast at Ripple casinos. The withdrawals from most XRP gambling sites follow the same principle as the traditional payment methods. Some casinos will process your withdrawal in less than 24 hours while others might take up to 3 days. Just check with your casino before initiating any withdrawal.

 What is the minimum amount needed to withdraw or deposit Ripple?

The deposit and withdrawal limits of using Ripple are determined by each casino. Thus, you will need to get in touch with your casino for them to pinpoint the exact limits.

 Can Ripple be hacked?

Instead of proof of work, XRP uses consensus which ensures better resistance to different attacks including hacking. The company is led by a capable team that has managed to keep the company and wallets secure.

 Is it free to open a Ripple wallet?

There are different Ripple wallets including Ledger Nano S, Toast wallet, Atomic wallet, Abra wallet and all of them are free to open. Due to the nature of crypto, all of them can be used for online gambling at the best ripple online casinos.

 What are the best gambling sites?

Whether we're talking about regular or crypto casinos, the qualifiers remain the same: you need to look out for a good welcome bonus (preferably with plenty of free spins), a wide variety of classic casino games and, of course, a good license and safety regulations. The best online casinos and the top xrp casinos both have one thing in common: they take their players' safety seriously.

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Joshua Rawlings Written by Joshua Rawlings