The use of cryptocurrencies in the iGaming industry is a very popular trend nowadays. Because of this, many online casinos are accepting them as payment methods. At first, you were only able to use the biggest crypto tokens, but that is slowly changing.

Nowadays, you can also find less-known cryptocurrencies on gambling websites. Among them is Algorand, which we will cover in this article.

About Algorand

Algorand is a decentralized cryptocurrency protocol that provides proof of stake on a blockchain. You can find its tokens under the name ALGO. MIT Professor Silvio Micali is the creator of Algorand (ALGO), who developed it in 2017 but managed to release it in 2019.

One of its main features is the negligible energy consumption per transaction. The Algorand platform is capable of processing many transactions as quickly as possible. But, it can also host other cryptocurrencies and blockchain projects like their direct rival, Ethereum.

As an open-source blockchain, anyone can view as well as contribute to the platform’s code. The proof of stake protocol that Algorand uses is recruiting network validators from the pool of users.

Every ALGO user who stakes coins gets to become a governor and is able to cast votes on any blockchain and community issues. As a governor, Algorand will also reward you in ALGO.

Benefits of Algorand at Casino Sites

If you are a casino player who wants to start using Algorand, then you are in for a treat. We say this thanks to the many perks that come with this cryptocurrency.

Using ALGO offers you a chance to conduct super-fast transactions. This goes for both, the deposits and withdrawals at the Algorand casinos. Also, the operators don’t include extra fees when you transfer such crypto coins.

But, we must inform you that there are certain fees that Algorand charges for the transactions. Yet, they aren’t very big, in fact, they are even lower than the ones on the Ethereum network.

Thanks to blockchain technology, you can enjoy your gaming sessions at these casinos anonymously. It is also providing you with the much-needed internet security.

But, you still need to find a legit online crypto casino, regulated by a respected authority. These gaming platforms are utilizing the latest 128-bit SSL encryption.

As you may know, Crypto Casinos are offering some of the best bonuses on the market. The same goes for the Algorand gambling sites, where you can easily apply for a lucrative promo using ALGO. Many of these casinos are also featuring a loyalty program where you can enjoy additional privileges.