We would not be wrong if we claim that crypto is the trend of the 21st century. Many online shops and entertainment platforms have already started accepting digital currency for payment and performing various transactions. The sphere of e-gambling has not been left aside either. Thus, a large number of virtual gambling establishments already accept cryptocurrency wallets for depositing and withdrawing winnings.
The trend continues to develop, so it is safe to say that in the future crypto casinos will only grow. Today in the assortments of many casinos have already begun to appear in the so-called Bitcoin-games, in which you bet not real money, but cryptocurrency. Recently, such gambling entertainment has become very popular.
What are cryptocurrency casinos
Cryptocurrency online casino is a virtual gambling establishment that allows its users to deposit and withdraw winnings using cryptocurrency wallets.
Cryptocurrency is a digital currency that operates on Blockchain. Many modern virtual gambling establishments accept the following types of cryptocurrency as a payment method:
- Bitcoin is the most famous and popular crypto, which first appeared in 2008. It allows you to instantly fund your online casino account and promptly withdraw your winnings. The only disadvantage of Bitcoin is its high volatility, which increases the risk of losing your savings during rate fluctuations.
- Ethereum is another crypto that ranks second after Bitcoin in terms of capitalisation. The coin was created by a programmer from Russia, and today it shows a good rate against finance money and other digital currencies. Ethereum also allows you to quickly and anonymously make deposits in casinos and promptly receive payouts.
- Litecoin – this cryptocurrency is also in the top ten by capitalisation. With its help, you can completely anonymously and safely fund your online casino accounts for almost any amount.
- DOGE – the crypto was created on the basis of a popular meme, and its rate rose sharply after Ilon Musk’s tweet. Today it is one of the most popular coins. Many players actively use it to top up their accounts at virtual gambling establishments.
Why you should play in crypto clubs: the main advantages
Cryptocurrency casinos today have gained very great popularity, so many virtual gambling establishments have actively started to introduce payment with the help of cryptocurrency wallets. Almost all online casinos that accept cryptocurrency can be divided into 2 groups:
- Casinos that accept fiat money in addition to cryptocurrency, such as US dollars, euros, pounds and others.
- Casinos that accept only crypto. Such establishments are oriented only for cryptocurrency users, in them even the bonus is provided in digital currency.
Nevertheless, all virtual gambling establishments that support cryptocurrency payments have the following advantages.
The ability to instantly and anonymously fund the account
The use of cryptocurrency provides complete anonymity when performing transactions, so online casino users may not reveal their identity. Anonymity also affects the level of security: all transactions reach the final recipient and cannot be intercepted by third parties.
Large selection of cryptocurrencies
Today there are several thousand cryptocurrencies, and many online casinos try to cover most of this variety. Therefore, the player will always have a choice of which cryptocurrency to deposit with this time.
Integrity of gambling entertainment
In traditional virtual gambling establishments, most games work on the basis of an inbuilt random number generator. At the same time, you do not always know whether this RNG works honestly. Cryptocurrency casinos, on the other hand, introduce cryptocurrency spiking technology, through which the user can always check the work of the inbuilt RNG.
Small amount of commission
When funding an online casino account with cryptocurrency, the commission is usually small. However, remember that the size of the commission is set in each case individually and depends on the workload of the Blockchain network.
Variety of gambling entertainment
Many cryptocurrency casinos offer unique gambling games in which bets can be made in digital currency. These are not only traditional slot machines, but also table gambling, crash games, arcades and others.
A large selection of online casinos
Cryptocurrency is gaining popularity, so the market is appearing more and more new casinos that accept this payment method. Therefore, the player will have a wide choice of online casinos.
Disadvantages of using cryptocurrency in online casinos
Not all existing today virtual gambling establishments accept cryptocurrency as a payment method. This is explained by the fact that the use of digital currency has some limitations and disadvantages:
- At the moment, there are still a small number of casinos on the market that accept cryptocurrency. This imposes certain difficulties when choosing a suitable institution to play for real money.
- When funding your account from cryptocurrency wallets, you will have to be extremely careful. If you send funds to the wrong address, you will not be able to cancel the transfer. In the blockchain, all transactions are one-sided and cannot be cancelled or refunded.
- Sometimes fees can be extremely high when performing cryptocurrency transactions. This usually happens when the Blockchain is overloaded with other transactions. Also, at such times, transactions tend to take a very long time to process.
How to deposit in a cryptocurrency online casino
Cryptocurrency allows players to instantly make deposits of any amount and withdraw winnings. Here are step-by-step instructions on how to quickly deposit to an online casino using a cryptocurrency wallet:
- Choose a suitable virtual gambling establishment. In this case, be sure to pay attention to the presence of an official licence from one or more operators, the range of games, types of supported cryptocurrency and other parameters.
- Pass registration on the official site of the casino. To do this, you usually need to fill out a small form, entering your email address and password to protect your account. The whole procedure takes no more than 5 minutes.
- Open the deposit page, select a suitable cryptocurrency for making a deposit, specify the amount and confirm the operation.
- Wait for the funds to arrive on the account and start playing for real money.
To top up your account, you just need to send funds from your cryptocurrency wallet to a special address specified on the casino’s website. The money usually arrives to the game account instantly. After that, you can go to the game lobby and start playing for real money.
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Withdrawal of winnings to a cryptocurrency wallet is carried out in a similar way. But in this case, you need to already specify your address, and then wait for the receipt of funds. The application for payment is usually considered within 1-72 hours, but the funds arrive in the wallet almost instantly.
FAQ
Do I have to go through verification in cryptocurrency casinos?
This requirement is determined by the policy of the virtual gambling institution itself. Many casinos allow you to deposit and withdraw funds without verification.
Where can I create a cryptocurrency account for further use in the casino?
An account can be created on a cryptocurrency exchange or in a software wallet.
What is the commission for funding an account with cryptocurrency?
The commission is usually small. But it depends on the network load.