For all those players that have taken to the world of crypto gambling like a duck to water, we have another exciting new currency that might just be the next best bit in the businesses. Monero is an open-source cryptocurrency that has upped the game, amplifying all the most beloved crypto features. Monero casinos are amongst the top crypto casinos, and definitely worth checking out.
One of the main reasons gamblers and crypto go hand in hand is due to the incredible advantages that come along with it. Monero casinos offer increased security to the halved transaction time, we cannot think of any reason why gamblers wouldn’t want to try out Monero casinos.
Best Monero Casinos
A History of Monero
Started in April of 2014, Monero is an open-source cryptocurrency that drives its success through pushing fungibility, privacy, and decentralization. Using obfuscated public ledger, Monero gives users access to a transaction history allowing anybody to broadcast or send transactions, but no outside observer can tell the source, amount, or destination.
Monero is unique in the sense that it condones hidden payments and account balances remain entirely hidden, allowing a sense of anonymity that has not been established by any other cryptocurrency. The extensive acknowledgment of anonymous finances is not the standard for most cryptocurrencies.
Monero was initially started by a Bitcointalk forum user, known as thankful_for_today. The codebase of the cryptocurrency is Bytecoin, this led to its original name BitMonero. In the early days, this cryptocurrency had a slow start, with little success from the BitcoinTalks forum member. The project was later taken over by a group of users led by Johnny Mnemonic, later changing the name to Monero.
In 2016, Monero saw its biggest growth percentage yet, beating all competing cryptocurrencies in market capitalization and transaction volume. A year later, Monero strengthened it’s transactions by improving and adapting Bitcoin Core developer Gregory Maxwell’s algorithm for Confidential Transactions, hiding the amounts being transacted.
Moneros Security and Privacy Features
You may be wondering what makes Monero gambling better than the rest? Well, we have all the features that make gambling that much better.
- Enforced privacy: Privacy is enforced by ensuring all transactions are encrypted so that no user can accidentally or deliberately be tracked.
- Ring confidential transactions (RingCT): RingCTs are used to conceal the amount sent, this is done by using range proofs and cryptographic commitments.
- Bulletproofs: Bulletproof is a type of non-interactive zero-knowledge proof system which allows transactions to be verified without any details of the sender or receiver.
- Stealth Addresses: Senders use a one-time address link that is generated cryptographically
- Ring signatures: When sending Monero, the transaction gets cryptographically signed by the sender using an input they own as well as 10 other inputs, giving each transaction a total of 11 inputs, these are required to complete the process.
Where to Make the Exchange
For all those players who like the idea of anonymous gambling and want to explore it a bit further, we would recommend using Monero. Not only does the anonymity make it stand out but Monero has done an impressive job at climbing the ranks, making its way onto the list of the top 10 most used cryptocurrencies.
Monero is also currently the 10th biggest coin by market cap. With all this in mind, Monero still has moments where it proves to be slightly more tricky to get your hands on and to find a reliable online casino. We are not too sure of the reason for this, but to make your Monero gambling experience smooth and easy, we have found some crypto wallets that make purchasing Monero effortless.
Here are the top 3 best Monero wallets
Monerujo is an open-source lightweight Monero wallet that makes use of remote nodes to synchronize to the Monero blockchain. All user’s private data is stored on your device and not online making it another fantastic Monero wallet option.
Cake wallet is one of the most trusted and secure wallets for mobile users, allowing users to exchange their Monero funds for many different currencies effortlessly. Cake Wallet allows users to take charge of your private keys, making it safer than most of the desktop wallets or web wallets.
MyMonero is easy and convenient to use, which is one of the reasons it has become the leading online Monero (XMR) wallets. MyMonero is a web-based wallet making it easily accessible to all.
Make Money With Monero
Crypto gambling is always more rewarding than fiat gambling, but the most thrilling and rewarding cryptocurrency for gambling is by far Monero. Thanks to its highly secure transactions and it’s extremely attentive privacy settings, Monero has evolved into the perfect gambling currency. To get a true feel of the success that Monero brings, try out the suggested online Monero casinos above. Once you start gambling, you will understand why they made it on our list of the best Monero casinos.