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Table of Contents
What Is Ripple?
Ripple is short for Ripple Labs which is the company responsible for the Ripple.net network. When we talk about Ripple as a cryptocurrency, we are referring to the XRP token. For the sake of not making this any more confusing, we are going to refer to XRP tokens as Ripple tokens or just Ripple.
Believe it or not, Ripple was not originally intended to be a cryptocurrency. The original vision of Ripple labs was to create a centralized system that will solve the many problems of international money transfers.
If you have even sent money overseas, you’ll likely know what the SWIFT payment system is. Basically, it’s a long and expensive process where one currency gets sent from one bank to another and along the way gets converted into USD before it gets converted again into another currency.
You can probably see a million problems with this formula. Unfortunately, to this day, SWIFT is still the default method for how money is sent internationally.
Back in 2012, Ripple labs wanted to solve the many problems of the SWIFT process and so they invented the Ripple network. The idea was that instead of using USD for converting one currency into another, the Ripple network would use its own tokens (XRP) to make the conversion process faster and cheaper. And it worked. In fact, it worked so well that over 50 banks are still using Ripple labs as a way to transfer money instead of the expensive and slow SWIFT system.
So, you may be thinking: If XRP is used to handle money transfers, why are users like me able to trade using it? Well, this is where things get interesting. See, Ripple labs initially created 100 billion XRP tokens. These tokens were all mined, by the way. 20 billion have been given to the founders of the project, 40 billion were sold to companies (that can sell them to us) and the rest is scheduled to be given back to Ripple labs on a monthly basis.
Basically, the 40 billion that were sold to companies are the tokens that are currently in circulation and are what we can use to play at Ripple online casinos. Confused yet? We were too, but we promise you, it gets easier from here on out.
Why you should invest in Ripple (XRP) over other cryptocurrencies?
As we already mentioned Ripple is used for powering the transactions used for the Ripple.net money transfer system. As long as this system exists, there will always be a demand for Ripple tokens. Otherwise, there are quite a few benefits to using Ripple. One of the best benefits is how fast the transactions are.
The Ripple blockchain network can process 1,500 transactions every second and the average time of a transaction is less than 5 seconds. Finally, there is the famous Zero Fees rule where the average price of a transaction is around $0.0002. This is also a currency that has been around for almost 10 years, so it’s one of the safe ones out there.
Now while these are really good benefits, Ripple also has some clear disadvantages when compared to other cryptocurrencies and we’ll get to those later.
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Getting Started With Ripple Gambling Sites
If we managed to interest you in Ripple online casinos, you might be wondering where to actually start. Fortunately, the process is pretty straightforward. Simply follow these 5 steps and you’ll be well on your way to having fun at any Ripple Casino.
Create a wallet that supports Ripple
First of all, you need to pick a wallet that supports Ripple. Fortunately, this is pretty easy as pretty much all of them do. Even though it’s not the most popular cryptocurrency, Ripple is still highly regarded as one of the safest cryptocurrencies out there. You may also wish to pick a wallet that doubles as a crypto-exchange as that way you will be able to completely skip the next step.
Creating a wallet is just a little bit more complex than creating any user account on a regular website. Fill in your email, password, name, and address and you’ll create your wallet. Each wallet comes with its own passphrase, which you should keep on a piece of paper in a safe space and not on your phone in screenshot format.
Before you start using your Ripple wallet, you need also to go through KYC. This is a boring and tedious process but it is necessary to finish the process. For the KYC, you’ll need to scan your ID/Passport, take a selfie with a randomly generated number and maybe submit a utility bill with your current address. Once the KYC has been completed, you can move on to the next step.
Buy Ripple from a crypto exchange site
If you picked a wallet that doubles as a crypto exchange, simply open it on your phone and find Ripple (XRP). You can use your credit card to buy Ripple and it will automatically get added to your crypto wallet.
If you picked a wallet without a crypto exchange, you will need to find a crypto-exchange website first. Once you do, create an account (you’ll need to go through the KYC again) and buy some Ripple. Once you’ve successfully purchased Ripple, you need to transfer it to your crypto wallet.
Bring out your wallet and scan the QR code of your new purchase and it will get transferred to your account (don’t forget about the transfer fee). If there isn’t a QR code, you must manually enter the long string of numbers that point the crypto exchange website to your wallet. It’s tedious, but it works just like scanning the QR code.
Note: As of writing this, there is currently a lawsuit going on against Ripple. Because of the lawsuit, many crypto-exchange companies have stopped selling Ripple. Fortunately, you can still find plenty of exchanges that are willing to sell Ripple (such as Binance).
Pick an online crypto casino that accepts Ripple
Once you have your new crypto wallet loaded with Ripple, you can go ahead and find a Ripple Casino. Pick a casino that accepts Ripple and create an account. For now, all you need to do is create a basic account that requires an email address, real name, birthday, password, and maybe a few other basic details.
Make a deposit/Link your crypto wallet
After successfully creating your casino account, navigate over to the payment section. There, select Ripple, and you should get another QR code that you can scan with your crypto wallet. Bring out your wallet, scan the code and select how much Ripple you wish to send to the Ripple Casino. The transfer should be done within seconds (it’s one of the benefits of Ripple).
Alternatively, if you have picked a pure crypto online casino, you can simply link your entire wallet with your casino account and completely bypass any future deposits and withdrawals. All your spins and rolls automatically get taken off your account and winnings also get automatically added.
Enjoy your casino games
You are finally ready to enjoy your favorite Ripple online casino games. Remember to play responsibly and remember not to sweat over the small stuff. Playing online casino games should be fun first and foremost with winning money taking a solid second place.
While not exactly available everywhere, Ripple online casinos are a thing. Almost every crypto-focused online casino will happily accept XRP tokens as a payment method and even some low-key hybrid casinos might also include Ripple with their accepted cryptocurrencies.
While not as easy to find as Bitcoin, Ethereum, Litecoin, or Dogecoin casinos, finding a Ripple online casino shouldn’t pose too much of a problem.
Ripple Casino Games
Even though it is accepted at a lot of crypto casinos, XRP tokens aren’t that well implemented into online casino games. You might be able to find some online slots and exclusive games that accept Bitcoin and even Ethereum as a currency but Ripple needs to be converted into something else in most cases.
Ripple online slots
Most of the time, online slots either use USD, EUR, BTC, ETH, and even their own currency. As for XRP, it most likely needs to be converted into something else. Even at pure bitcoin casinos (online casinos that only accept cryptocurrency as payment methods), you usually have to convert your Ripple into something else before you can play slots.
Ripple table games
In the online casino world, non-live table games are slowly becoming a thing of the past. Classic table games can only be played using fiat currencies and that usually means USD. Live casino games can be a bit more flexible but it’s highly unlikely that they accept Ripple (XRP) directly.
Fortunately, there is some good news. Pure crypto casinos sometimes have their own line of exclusive games and these normally include versions of classic table games. These can usually be played using any cryptocurrency accepted by the casino website, which includes Ripple (XRP).
Ripple live casino games
Live casino games are slowly, but surely, starting to accept cryptocurrencies as payment methods. Even though most software providers still prefer that players play using fiat, Bitcoin, Ethereum, and even NFTs have slowly crept into their live casino games. Unfortunately, Ripple isn’t on the list of priorities so you will most likely need to convert your XRP into different crypto (BTC or ETH) or into fiat currencies like USD or EUR.
Ripple Casino Bonuses
Ripple online casinos gladly accept Ripple as a payment method but, unfortunately, this doesn’t always mean that they give out bonuses for depositing in Ripple. In most cases, hybrid casinos only give bonuses for fiat or bitcoin deposits.
While they might accept Ripple as a payment method, it’s highly unlikely that you will get a lot of bonuses with Ripple. Your best bet is to find a casino that has a deposit bonus that awards a match bonus for ANY cryptocurrency deposit.
Ripple welcome bonus
All online casinos, even crypto casinos, usually have a welcome bonus to draw in new players. This bonus is often called the first deposit bonus. By making your very first deposit, you can normally get a match bonus which gives 100% of your deposit in bonus money. Now, in order to get this bonus with your Ripple, you first need to find an online casino that has a welcome bonus that works on all cryptocurrencies (as finding a Ripple-only welcome bonus is next to impossible). After this deposit, you can play with your Ripple amount and get the same amount in bonus money, after you deplete the initial deposit.
Ripple reload bonus
Reload bonuses work the same way as welcome bonuses, except they are less generous. In the best Ripple online casinos, you can usually find a reload bonus that you can activate once you’ve used up the welcome bonus. Again, this bonus only activates after you deplete your initial deposit.
Cashback is pretty popular at crypto casinos. When players run out of money, they can usually get a small percentage of their losses once a week. The amount of cashback received can depend on the player’s VIP level. At pure crypto casinos, cashback bonus is normally given in the same cryptocurrency that was spent or using the casino’s own cryptocurrency.
Ripple free spins
Seeing how it’s highly unlikely that you’ll be able to use Ripple to play online slots, it’s also unlikely that there is a free spins promotion associated with it. Even pure bitcoin exclusive games aren’t that fond of creating online slots that work with all cryptocurrencies. So, if you really want to get some free spin bonuses, you’ll probably need to convert your XRP into something else.
The Advantages of Using Ripple
Now that we know how Ripple works and how to start actually using it, we’d like to take a moment and focus on what makes Ripple shine when compared to other cryptocurrencies.
As we already mentioned, Ripple (XRP) was invented to be a better and faster alternative to SWIFT money transfer with great success. A regular Ripple transfer usually takes 5 seconds – a trait that’s invaluable in the crypto community.
Compared to other crypto transfer fees, you could say the fee is negligible. Ripple is famous for having incredibly small fees averaging at about $0.0002 per transaction. That, paired with its lightning speeds, sheds light on why Ripple is such an attractive currency.
Ripple.net is accepted by banks
While this may also be considered a con for some holders, many famous banks have actually implemented Ripple.net into their money transfer system instead of the SWIFT payment system. This alone is a testament to Ripple’s longevity that other cryptocurrencies simply don’t have, signaling that there’s going to be a continuous demand for XRP tokens.
The Disadvantages of Using Ripple
Unfortunately, because of the nature of Ripple (XRP), there are certain disadvantages to owning and investing in this cryptocurrency:
SCC: “XRP is a security, not a cryptocurrency.”
As of writing this, the USA Security and Exchange Commission (SCC) has filed a lawsuit against Ripple.net. In the lawsuit, the SCC accuses XRP tokens of being security funds, rather than a cryptocurrency because XRP tokens are used to handle international money transfers primarily.
According to SCC, XRP tokens need to be regulated according to US laws. While there is certainly truth to what the SCC is saying, researchers suggest that the case is going to get settled in favor of Ripple (and once it does, XRP token prices might just skyrocket). If, however, the SCC wins the lawsuit, it may spell doom for Ripple as a cryptocurrency.
XRP may not have a future
Usually, when a new cryptocurrency is created, you can expect the founders and the community to be the first in line to defend and support it, no matter the cost. Unfortunately, this isn’t always the case with Ripple.
Ripple community members sometimes don’t even refer to it as a cryptocurrency because of its origins. If that wasn’t bad enough, one of the founders – Jed McCaleb – sold almost all of his Ripple tokens claiming that he doesn’t want anything to do with the company. It’s one thing to have a few bad Discord members talk dirt about a currency but it’s another to see one of the founders step away from the project.
More centralized than other cryptocurrencies
One infamous fact about Ripple is that it is a centralized cryptocurrency. The Ripple blockchain doesn’t use Proof of Stake or Proof of Work but rather, what is known as a: Unique node list. This is basically a group of individuals (who all know each other) who handle all transactions and monitor the network.
The members of the Unique node list don’t get rewarded for their Proof of Work or Proof of Stake which makes the community wonder: What do they get out of all their work? And since these individuals aren’t located all over the world, they could, potentially, create fake transactions and release them into the blockchain.
It is for reasons like these that many don’t like to call Ripple a real cryptocurrency.
Play Online Casino Games With Ripple
Ripple (XRP) may have a few undesirable facts about its design, but there is no denying that it’s widely accepted in the gambling industry. Many online Casinos accept Ripple and that isn’t something that can be said for all cryptocurrencies (even some stable ones). If you think that this Zero fee and super fast cryptocurrency might be fun to use on your favorite casino game, give it a try and see for yourself.
Thank you for reading our guide on Ripple (XRP) and we hope that we have helped you decide whether or not this cryptocurrency is worth investing in!
What is Ripple?
Ripple (XRP) is a cryptocurrency that was initially created to support fast and inexpensive international money transfers. It is also widely used to handle basic crypto transactions including online gambling.
Where to buy Ripple?
Under normal circumstances, Ripple can be bought on almost any major crypto exchange platform. Unfortunately, as of writing this, there is currently a lawsuit going on between Ripple labs and the SCC and many crypto exchange websites have delisted Ripple. XRP tokens can still be stranded and bought, it just takes a little bit more effort to find them.
How to stake Ripple?
Staking Ripple can be done on crypto wallets that offer this option. In order to stake XRP. The minimum requirement for staking Ripple is 10 USDT worth of Ripple.
How many Ripple Coins are there?
There are 100 billion XRP tokens available and currently, around 40 billion are in circulation. All the tokens have already been mined (in order to support Ripple.net money transfers) and it is unlikely that more will be added to the network.
Do many crypto casinos accept Ripple?
Most crypto-based online casinos will happily accept Ripple as a payment method. Unfortunately, many Hybrid casinos won’t accept it as Ripple simply isn’t as popular as some other cryptocurrencies, yet.
What are the best Ripple Gambling sites?
The best Ripple Casinos are those that accept a wide variety of cryptocurrencies also known as pure crypto casinos. Players will usually be able to link their crypto account directly and play using any cryptocurrency they own, including XRP.