Can I play Mega Moolah with Ripple XRP?
There are a lot of great reasons to appreciate cryptocurrencies. From secure transactions to decentralisation, cryptocurrencies offer a new way to buy and sell while taking banks and fiat currencies out of the equation.
Take XRP (Ripple) for example. Did you know that you can play Mega Moolah by using your Ripple coins? It may not be as popular as playing with Bitcoin, but you can use XRP to fund your online casino bankroll.
XRP and the Ripple platform will be discussed in a bit more detail at the end of this post. But first, we want to talk about how you can actually play Mega Moolah using your XRP coins. You can go through an electronic payment system like Skrill, deposit your coins directly, or transfer XRP to bitcoins before making a deposit.
The e-wallet option
This first option is not as easy as depositing coins directly, but it does give you access to the largest pool of online casinos offering the Mega Moolah video slot. Simply put, there are many more online casinos that accept electronic payment systems than XRP. An electronic payment system is your best bet if you want the largest pool of casinos to play at.
An electronic payment system can act as an electronic wallet for the purposes of conducting cryptocurrency transactions. That is what will be discussed in this section. The process begins by finding a suitable electronic payment system you are comfortable working with. One of our favourites is Skrill. You may be interested in reading our latest article on How to use Skrill and crypto to play Mega Moolah.
Skrill is a global electronic payment system with an excellent reputation. A majority of online casino properties that accept electronic payment systems also accept Skrill payments. So right off the top, having a Skrill account puts you in a good position to play Mega Moolah with XRP.
Buy and sell coins
Using Skrill to fund your online casino bankroll is a simple matter of buying and selling coins. Let us assume you already have a Skrill account. If not, you can sign up for free just by visiting their website at Skrill.com.
With an account at your disposal, you can buy and sell XRP directly through Skrill. This makes it possible to convert your fiat currency into XRP coins in mere minutes. Note that Skrill supports 40 different fiat currencies for your convenience.
Just login to your Skrill account, fund it through one of their standard fiat options (e.g., an EFT from your bank) and you are ready to go. Now you can use that money to buy XRP. But guess what? There are other ways to do the same thing.
Let's say you also own Bitcoin, Bitcoin Cash, or Litecoin. You can convert some of your other coins to XRP through Skrill. Just use your other digital coins to make an XRP purchase. It is really quite simple. Skrill supports seven different cryptocurrencies, which makes it pretty easy to buy and sell different coins as you see fit.
Choose your online casino
The final step here is to choose an online casino that accepts Skrill payments. Good news is that all of the casinos here on MegaMoolah.com accept Skrill. You will need to sign up as a member of that site, but that should only take a couple of minutes. Then make your deposit through Skrill. You will be ready to start playing Mega Moolah as soon as the transaction clears.
As complicated as this might sound, it is actually pretty simple. And it doesn't take long, either. In a matter of minutes you could be fully funded and ready to start spinning the reels.
The direct deposit option or the conversion method
If you are not interested in opening a Skrill account, you still have other options. One of them is to search for an online casino that accepts XRP directly. Such casinos are not as numerous as Bitcoin casinos, but we've got one for you! See the XRP offer on this page.
XRP casinos come in one of two types. The first is an online casino that deals directly in XRP. That casino will most likely also accept Bitcoin, Bitcoin Cash, Litecoin, etc. Casino operators have discovered the value of dealing in cryptocurrencies, and they are gradually increasing the number of crypto options they support.
The second kind of casino accepts multiple crypto payments but then converts coins into Bitcoin. In essence, you would make your XRP deposit in the same way you would complete any other XRP transaction. The casino would then convert your coins into bitcoins. Your bankroll would then be represented in BTC rather than XRP. We don't recommend using this method. It's better that you convert the XRP to Bitcoin inside your wallet, or at an exchange if possible.
Assuming you already own XRP, you are going to need to find an exchange willing to cover the transaction for you. Once again, there are two ways to do this. Some exchanges convert directly between coins in the same way a hard currency exchange service would convert between multiple fiat currencies.
You would sign up for an account with the exchange to start with. Then you would submit your XRP to the exchange for conversion to BTC. You would get the equivalent in BTC less any fees or charges the exchange assesses. And by the way, this is something to be careful about. It really pays to shop around for the best exchange rates.
In the absence of direct conversion, you may have to sell some of your XRP first, then use the funds to buy bitcoins. This is a roundabout way of making the exchange without direct conversion. The downside to this method is that there are often dual charges involved. You pay one charge for selling and another for buying. However, you can recoup some of those charges by increasing the price of your XRP.
More about XRP
Now you know your three options for playing Mega Moolah with XRP, let us talk a bit more about XRP and the Ripple platform. It is similar to Bitcoin in some ways, but quite different in others.
Unlike Bitcoin, Ripple did not originally start out as a cryptocurrency platform. The company behind Ripple was actually established in 2005 as a secure payment system. They existed for about three years before Bitcoin came into existence, and almost 4 years before Bitcoin was actually released to the public.
Back then, Ripple was known as OpenCoin. The company's main product was a real-time gross settlement system that made it easy for banks to conduct large-scale cash and securities transactions in a secure environment. Their system proved so popular that it was only a matter of time before Ripple dove into the cryptocurrency waters.
By the time XRP was released in 2012, Ripple had already established its own protocol known as the Ripple protocol (RTXP). That gave them an advantage when it was time to release their digital currency. What was the advantage? They could use XRP as a means of representing digital coins, fiat, or even tokens.
XRP's pepresentation of value
We normally think of XRP in terms of a digital currency with a market value represented as a fiat currency - like pounds or US dollars. But unlike Bitcoin and other cryptos, XRP can be valued in other ways as well. Take tokens, for example.
A token in the cryptocurrency world can be anything of value. In Bitcoin's case, its only value is derived from its coins. But XRP can represent other things. Remember that the Ripple platform allows for the free exchange of both cash and securities between banks. So XRP could represent the token of a specific security rather than a coin. It does in some cases.
Gambling with XRP
What does all of this mean for online gamblers? Very little. What you do by playing Mega Moolah with XRP is completely separate from the financial transactions going on between banks. And no, your coin is not mingled. The cryptocurrency portion of the Ripple platform is kept entirely separate.
When you play Mega Moolah with XRP, it is no different than playing with Bitcoin. This is how the two platforms are similar. You deposit your XRP coins to fund your online casino account. You spin the reels and collect your winnings. If your casino allows cryptocurrency withdrawals, you can take out your winnings as XRP or Bitcoin.
What makes XRP and Ripple so unique is the origin of the Ripple payment system. The uniqueness of the system is also that which gives the digital currency its strength. Where there are some other digital currencies that are teetering on the brink of irrelevance due to very little value, XRP is sustained by a much larger global payment system that provides strong support underneath.
In the end, the only thing that interests you might be the fact that you can play Mega Moolah with XRP. That's great. Go have fun. While you're playing, the people behind XRP will keep things going in the background.
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.
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