The online gambling industry is ever-evolving. It is probably one of the most progressive sectors, keeping up with technology trends. One of the novelties incorporated into online casinos is electronic money, or more precisely, cryptocurrencies.
Today, you may notice that more and more online casinos are crypto-friendly. Although cryptocurrencies may seem too abstract to comprehend, they are real money. We can use them to enjoy real money gambling. Are you interested in crypto casinos and how they work? If your answer is yes, stay with us as we’ve got you covered.
What Is Crypto Casino?
As you can guess from its name, a crypto casino is a gambling site where you can use electronic money to make transactions and wagers. Some crypto casinos accept cryptocurrencies only, while others allow their customers to use both virtual and traditional money. Online casinos have embraced electronic money early, and today players can choose from a variety of cryptocurrencies to settle their deposits and withdrawals.
Most gambling sites accept the most popular and widely spread cryptocurrency Bitcoin. Besides it, casino operators allow you to use Litecoin, Bitcoin Cash, Ethereum and other cryptocurrencies. Some crypto casinos even allow you to complete certain tasks to earn digital money and have their proprietary cryptocurrencies.
To enjoy crypto gambling, you should get familiar with cryptocurrencies and how they work. In this guide, we will not go into detail about the technology behind digital money. Instead, we will discuss online casinos accepting it and how to start using cryptocurrencies for online gambling.
Crypto Casinos Safety and Fairness
First of all, when it comes to safety and fairness, there is no room for negotiation. Crypto casinos can also be regulated and licensed by trustworthy authorities, meaning that they can obtain licences to offer their services in various markets. Back in 2016, the UK Gambling Commission declared Bitcoin as a cash equivalent, for instance. Today, you will notice that most crypto-friendly casinos hold a Curacao eGaming licence. You should not settle for less than that.
When it comes to fairness, crypto casinos offer the same games as regular casinos. They are provided by suppliers mainly licensed in trustworthy jurisdictions. You will notice that some crypto-friendly gambling sites have a game category called Provably Fair. It is a solution that enables players to verify every bet they place, thus making sure they have not been cheated. We will not explain how this solution works, but you should be aware of the fact that it is available at so-called provably fair crypto casinos and that you can take advantage of it.
Crypto Casino Software and Games
As we have mentioned earlier, there is no difference in the content regular and crypto casinos have on offer. Crypto-friendly casinos also provide a full range of games, allowing players to choose from slots, table and card games, instant-win and lottery-like games. Besides, they offer live casino tables and game shows that guarantee an immersive and realistic gaming experience. Some operators offer slots and other games designed with Bitcoin users in mind as well.
When it comes to software providers, crypto casinos partner with a wide array of companies. However, in most cases, the selection of games will depend on whether the casino runs on an independent platform or is a white label brand. Whichever case it is, players will be able to access hundreds of titles in instant-play mode and enjoy them from the comfort of their homes or on the move.
Crypto Casino Bonuses and Promotions
If you use cryptocurrencies, you won’t miss out on the fun. On the contrary, crypto enthusiasts can benefit from all kinds of incentives, starting with welcome bonuses awarded upon registration. Some gambling sites also offer no deposit bonuses you can make use of even before you make a deposit.
While players who use digital currencies may not be eligible for some promotions, they can benefit from others designed with crypto users in mind. They can include free spins, reload bonuses, cashback bonuses and more. Whichever bonus you want to claim, it is of the utmost importance to read the terms and conditions. It’s the small print that will tell you whether an offer is worth your while or not, particularly wagering requirements and a timeframe you have to meet them.
Crypto Casino Deposits and Withdrawals
At the moment of writing this guide, there are more than 2,000 cryptocurrencies available out there. However, you won’t be able to use all of them to play casino games. The cryptocurrencies supported by online casinos typically include Bitcoin, Litecoin, Ethereum, Tether, Bitcoin Cash and Dogecoin. To use any of them or any other digital currency, you must have a crypto wallet, where your money will be stored.
While some gambling sites allow you to obtain cryptocurrencies directly on them, due to exchange fees, it may not be the best option. It is better to get cryptocurrencies by purchasing or mining them and use your crypto-wallet to fund your casino account and clear your winnings from it. The good news is that most crypto casinos won’t charge additional fees on transactions you make in electronic money. Besides, you will get your funds transferred swiftly whether you send them to the casino or withdraw money from it.
How to Start Playing at Crypto Casinos?
So, if you want to start playing at a crypto-friendly casino, you should open a crypto-wallet first. Obtain the currency of choice and choose a gaming venue that accepts it. Make sure to sign up only with regulated and licensed gaming establishments. Upon the registration of your crypto-wallet account, you will get a digital address consisting of numbers. You must not give it away to anybody.
Once your crypto wallet is set and topped up, sign up with the casino of choice and go to the cashier. Find the currency you want to use and get the casino’s wallet address to make your first transaction. You should enter the casino’s wallet address into your wallet along with the amount you want to deposit. Some gambling sites may convert cryptocurrencies into traditional money, so don’t be surprised if you see that your balance is in USD or EUR.
Now that you know how to make a deposit, let’s see how to clear your winnings if you get lucky and score some. To request a withdrawal, go to the cashier and enter how much money you would like to cash out. In this case, you should enter your wallet address. That’s where the operator will transfer your winnings to. Withdrawals should be quickly processed, within a few moments. However, some operators may require additional identity verification, so the procedure may take up to 48 hours.
Crypto Casinos – Pros and Cons
The biggest advantage of gambling with cryptocurrencies is that they allow you to enjoy this form of entertainment anonymously. You don’t have to share your personal or financial details with the operator since your transactions are carried out externally, through crypto-wallets. You use your wallet address to send and receive your funds.
Besides, you won’t have to pay high fees on your transactions. Cryptocurrencies are decentralised and there are no middlemen between you and the operator. Although some fees are charged on transactions through blockchain, they are considerably lower than those charged by other payment service providers. Thanks to advanced technology, crypto transactions are safe and fast, taking only a few moments to be processed.
What you should bear in mind when using electronic money is that cryptocurrencies may be volatile. So, keep an eye on their price if you want to convert them into fiat currencies. Also, while playing casino games, you should be aware of their value and not wager more than you can afford.
Crypto Casinos FAQ
- What currencies can I use at crypto casinos?
- Are crypto casinos legit?
- What games can I play at crypto casinos?
- Do crypto casinos offer bonuses?
- Why play at crypto casinos?
A range of accepted cryptocurrencies varies from casino to casino. Most crypto casinos support Bitcoin, but you will notice that more and more operators add other digital currencies as well, like Litecoin, Tether, Ethereum, Dogecoin, Bitcoin Cash and more. The great news is that you can win real money whichever of these that you use.
Yes, in the online gambling market, you can find legit gambling destinations that accept cryptocurrencies.
You can play a full range of casino games at crypto-friendly gaming venues.
Yes, crypto casinos offer bonuses and promotions to all customers, regardless of the currency they use. Some crypto-friendly gambling sites offer exclusive bonuses and promotions to players who use virtual currencies.
If you join a trustworthy, licensed crypto casino, you will enjoy casino games while keeping a low profile. At the same time, your transactions will be carried out quickly with no additional fees.