single post img

Stake.com Casino Adds 11 New Cryptocurrencies in August

Author profile

By , Updated On October 06, 2022

The online gaming industry has grown tremendously over the past few years. This market is expected to expand even further at an annual rate of 10.9% between 2022 and 2028. The online betting market was valued at approximately USD$61.5 Billion in 2021, which could double by the end of 2028. 

Today, more people prefer online casinos over their brick-and-mortar counterparts. Many factors can be attributed to this change, but one that stands out is the increasing adoption of technology. For instance, service providers have embraced modern software features to improve the user experience. They do this to match or even surpass the experience offered by physical casinos.

Another huge contributor to the growth of online gambling is the convenience of digital payment methods. For one, the introduction of crypto to the online gaming community has had a tremendous impact on the industry. In fact, a significant portion of crypto transactions today are gambling-related. This has pushed gambling sites to invest more in crypto-based payment methods.

It has been a big month in the crypto world as the leading online gambling platform Stake.com announced 11 new cryptocurrencies. Stake casino supporting 19 cryptocurrencies in total is a big change from the 8 cryptocurrencies that have been the mainstay for 5 years.

Keep reading the article to learn about the new 11 cryptocurrencies introduced on Stake’s platform. 

The Growth of Stake.com

Stake has grown in leaps and bounds over the past five years. Since its debut year, 2017, the company has attracted a wide range of users worldwide. Today, it boasts of over five million registered users and handles billions of transactions annually. 

This crypto-betting provider is a beneficiary of the new trends in the gambling industry. As mentioned earlier, more people today are opting for online betting rather than visiting a physical casino. The purchasing power of gamblers has also increased due to the rise in disposable income. 

The Curacao-headquartered company has also taken advantage of online gambling market opportunities in the sports betting segment. Online betting currently leads other markets in the industry. If recent projections are anything to go by, this segment could generate over USD$21.4 million in global sales by 2025.

Over the past few years, Stake.com has constantly looked for ways to penetrate the sports industry. For instance, in 2021, the company became the official betting partner of the Ultimate Fighting Championship (UFC). The same year, it struck a deal with Watford FC to become the club’s main sponsor. In 2022, Everton also joined Stake’s growing sponsorship portfolio. Partnerships with the likes of Sergio Aguero and Israel Adesanya are other indications of Stake’s commitment to attracting more sports bettors. 

Since it prides itself as one of the world’s crypto gambling giants, Stake is always looking to enhance its crypto betting platform. The most recent change is the adoption of 11 new digital currencies. Given the 190% increase in crypto’s user base between 2018 and 2020, you can see why the company decided to make this move. 

Which Crypto Does Stake Support Today?

Stake currently supports 19 cryptocurrencies, up from the eight that were used before. Bitcoin has dominated Stake’s crypto usage in the past few years despite its recent dip in value. Another popular name that was already on Stake’s website is Ethereum (ETH). Here is the initial list of the eight digital currencies supported by the betting platform:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Dogecoin (DOGE)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • EOS (EOS)
  • Tron (TRX)
  • Ripple (XRP)

The crypto gambling giant added 11 more cryptocurrencies to this growing list in August 2022. Here are other altcoins you can now use to bet on Stake.com:

  • ApeCoin (APE)
  • Tether (USDT)
  • Uniswap (UNI) 
  • Binance Coin (BNB) 
  • Binance USD (BUSD)  
  • Dai (DAI) 
  • Shiba Inu (SHIB)
  • Chainlink (LINK)
  • The Sandbox (SAND)
  • Polygon (MATIC)
  • USD Coin (USDC) 

This list contains some of the most popular stablecoins and a few lesser-known digital currencies. 

Popular Stablecoins Supported by Stake.com

A stablecoin is a cryptocurrency linked to assets such as metal, fiat, or other digital currencies. The main reason why more people are buying them today is their low volatility. For instance, the dollar-backed coins tend to maintain a 1:1 match with the current US dollar price. Their value has always remained more or less the same since the USD is a stable currency.

 So, what are some of the stablecoins you can try on Stake’s betting platform? 

  • Tether (USDT): This is the most popular stablecoin with a market capitalization of USD$67.95B and a stable price of approximately USD$1.
  • USD Coin (USDC): It’s the second largest stablecoin with a market cap of USD$49.79B
  • Binance USD (BUSD): It has a market cap of USD$20.51B
  • Dai (DAI): It’s crypto-backed and is valued at USD$6.93B

Meme Tokens on the Stake.com Website

Meme coins are cryptocurrencies inspired by memes and internet jokes. As trivial as that may sound, they’ve actually grown to become some of the most used and high-valued digital currencies. 

You can now bet on Stake.com using two of the strongest meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB). DOGE is the 10th most popular crypto with a market capitalization of USD$8.04B. On the other hand, SHIB is the second largest meme coin boasting a market cap of USD$5.95B. It was born on August 1, 2020, and introduced to the market to rival its meme counterpart, DOGE. 

Conclusion

Cryptocurrency gambling has become one of the most popular online activities in this digital age. Stake’s decision to take advantage of such trends has contributed to its tremendous growth over the past few years. The crypto betting giant introduced eleven digital currencies in August 2022 to tighten its grip on the online gaming market. 

Tether, USD Coin, Binance USD, and Dai are some of the stablecoins currently supported by Stake.com. It’s worth noting that some of these cryptocurrencies have a similar market price because they’re backed by the US dollar. 

The company also added a second meme coin, Shuba Inu, to its collection. Other new altcoins now accepted on the website include Uniswap, the Sandbox, Polygon, Chainlink, ApeCoin, and Binance Coin.