Stellar is a digital payment-based protocol created by the Stellar Development Foundation (a non-profit organization) in 2017. It is a fork of the Ripple system. Its native currency is Lumen (XLM), which featured a supply of 100 billion when this blockchain came into existence. There is no other mechanism to create Lumen other than inflation, which has a fixed annual rate of 1%.
Employees of the Stellar Development Foundation write code for the Stellar network, but the technology itself exists independent of this non-for-profit organization. Like all other digital ledgers, the Stellar database is also an open-source, decentralized one. Its transaction confirmations get facilitated by a consensus mechanism.
Stellar utilizes a consensus algorithm named the Stellar Consensus Protocol (SCP), based on the Federated Byzantine Agreement (FBA). It enables fast processing of transactions at low costs. The mini-networks that live inside the Stellar blockchain bear the titles Quorum Slices. Each node or participant adding transactions to the Stellar blockchain can pick his Quorum Slice of other trusted participants.
Stellar casinos are crypto gambling sites that accept XLM (Lumen). The Stellar blockchain is unique because it allows for different cross-border transactions, no matter what currencies and pairs are in play. The low prices of this crypto are what many players find attractive for everyday gambling transactions. Stellar crypto casinos may not be all the rage, but there is still a decent number of these platforms out there. Thus, if this is a coin that tickles your fancy, you have a few options to choose from where to spend your hard-earned XLM.
If an online casino features Stellar as a payment option inside its deposit tab, you should be able to play all the games that it offers. It is unlikely that you will encounter any restriction simply because you are a Stellar user.
Reel-spinners are the online gambling industry’s cash cows, raking in about 70% of all revenues in this sector. If you have some XLM in your crypto wallet, you will have an opportunity to test your luck at a Steller casino on all the reel-spinning products your chosen platform has to offer. In the past, some regular casinos had crypto-exclusive game sections. However, all the sites listed on BTCGOSU allow for coin-based gambling on all their products.
Live table games have been a reality since 2003. Though, at that time, they were only available to the Asian market. Today, you’d be hard-pressed to find a crypto gambling platform that does not have a live lobby. Therefore, if you are in the mood for spending XLM while staring a dealer in the eye, do not fret, as that is an option at Stellar gambling sites.
Provably fair products have been the foundation of crypto gambling. At the start, Bitcoin was the only coin that games like crypto dice accepted. Now, all that has changed. Operators allow players to enjoy titles in this genre via multiple cryptos. So, they can bet using XLM on plinko, hi-lo, crash, dice, and other provably fair products and instantly check the validity of a game’s result.
Sadly, there are not a ton of Stellar sportsbooks on the internet. That said, you can still find a few quality options. Expect to see the number of such platforms increase as decentralized peer-to-peer wagering is becoming a hot trend. So, gambling operators will want to grow their user bases in whatever way they can, including adding more coin options to their cashier tabs.
Let us dive into the three most crucial benefits of using XLM at crypto gambling sites.
XLM transactions require only one network combination, and, on average, they get carried out in less than five seconds.
The base Stellar transaction fee is 0.00001 XLM. At the time of writing, that is $0.000003.
You can buy XLM at any popular crypto exchange, like eToro, Coinbase, and Kraken. Attaining XLM coins should be a pretty straightforward process.
The three main negative aspects of using XLM at Stellar crypto casinos are:
As mentioned above, when discussing XLM sports betting sites, honestly, there are not that many top-end Stellar casinos around. At least, not yet.
That is right. Not all regions that accept cryptocurrencies also allow the use of Stellar. For example, the UK does not support XLM. So, you cannot trade XLM for the British pound.
Some countries and exchanges do not allow XLM to ETH and USDC trades. So, please be wary of that.
In our opinion, when it comes to XLM wallets, the best options are Guarda Wallet, Ledger Nano S, Atomic Wallet, Lobster, the Stellar Desktop Client, Stronghold, and StellarTerm.
If you have no XLM and have never dabbled with this crypto, know that you can get it at all the established spots. These include Kraken, Binance, Coinbse, Bittrex, Bitfinex, Upbit, and Huobi.
Once you have a crypto wallet with XLM in it, you can open the cashier tab at your chosen Stellar casino and pick XLM as your deposit option. From there, you can enter your desired deposit amount and confirm your transfer. One network confirmation later, your inputted XLM amount should appear in your Staller online casino balance. The transfer should occur in less than a few seconds.
If you cannot decide what Stellar site to pick from our list above, here are three elements that should help you judge these and other platforms and assist you in making educated decisions.
No matter what crypto platform you wish to play at, always ensure that it does not feature a strict KYC procedure. That is an anti-money laundering measure that will involve you supplying your casino accepting Stellar documentation that proves your identity. After you complete that step, you then have to wait until your chosen site verifies your information. That is a process that can drag out and cause many headaches.
Also, ensure that you are playing at a Stellar platform that other players can vouch for, ones that you can trust. You do not want to get tangled up with an operator who utilizes shady practices and looks for ways not to pay up.
24/7 live support is a must these days. Some Stellar casinos will not feature it but know that that is a bad sign, as they have chosen not to invest in proper customer assistance. Email is a suitable support option to have. Though, most crypto casinos take hours or days to respond after you have made your email inquiry. Thus, if swift and detailed answers do not land in your inbox or live chat window, that is not good, and it speaks volumes of how much effort such an operator puts into keeping clients happy.