Over the years, cryptocurrencies have become more popular with players who enjoy the anonymity, flexibility and speed of crypto gaming transactions. Online casinos have welcomed the trend and have added cryptocurrencies to their payment options. In fact, some casinos now only accept digital currencies.
What is a crypto casino?
Gambling sites that accept cryptocurrency, such as bitcoin as a payment method are more commonly known as crypto casinos. The crypto option gives players total control and anonymity, so they won’t have to provide any financial details outside their blockchain wallet address. There is also zero taxation because of the anonymity of transactions.
Crypto casino vs ordinary online casino
With currency being a key factor, traditional online casinos differ from crypto casinos in different ways. While regular online casinos use fiat currencies such as US Dollars, Euros, Canadian Dollars, Cryptocurrency casinos use crypto such as Bitcoin, Ethereum and Ripple.
Crypto casinos also guarantee quicker transactions. Unlike regular casinos, bettors no longer have to wait three to five business days for their payment to be processed.
Are Crypto casinos safe?
Security is critical for any real money online gaming operation. Indeed, thanks to their licenses, all crypto casinos are reliable and trustworthy. Crypto casinos offer stringent security measures that are more secure compared with regular online casinos. Higher encryption technology also plays a significant role when it comes to the safety of a casino. In fact, at a crypto casino, all transactions are recorded using blockchain technology.
Popular crypto casino
Choosing a reputable crypto casino can be overwhelming at times. However, we have put together a list of the most popular ones. Read on to find out more.
FortuneJack
This well-designed gambling site was established in 2014 and has much to offer crypto bettors. Licensed by Curaçao, all new players can claim a lucrative welcome bonus and explore a wide range of games. Should players encounter any challenges, FortuneJack support is always available to help them resolve their issues.
CloudBet
With gaming licenses from two bodies, Cloudbet holds valid licences from the government of Curaçao and E-Gambling Montenegro. The casino is off limits to players from the UK, USA, Singapore, and China (both Macau and Hong Kong). Also, Cloudbet casino uses the latest 256-bit SSL encryption to protect the user data stored on the website. Apart from accepting stable coins, it also accepts a wide selection of cryptocurrencies.
BetPlay.io
Founded in 2020, BetPlay.io is a gambling site where players can wager on their favourite games using cryptocurrencies. BetPlay.io offers an extensive game library, from table games to slots, and even live games and poker. This crypto casino site holds a valid gambling operating license from the Curaçao Gambling Commission.
7Bit Casino
Offering a stylish gambling site with a unique arcade feel, 7BitCasino was established in 2014. 7BitCasino has a Curaçao licence and a 24hour live chat support. In addition, it offers over 4,000 high-quality games. Both new and old players have attractive and generous bonuses to claim on the site.
Deposit and withdrawal options
For a cheap way to make deposits and withdrawals, cryptocurrency is a great option. Here, we explain how to make deposits and withdrawals using crypto. However, a downside is the transaction times. Whereas most crypto transactions are fast, some casinos process withdrawals manually for security reasons, thus delaying withdrawals of up to 15 minutes.
Making deposits
Once you’ve created an account and linked it to your cryptocurrency wallet, you’re ready to make your online casino deposit and start playing. All you need to do is go to the casino’s deposit page and select your chosen method. The operators will give you specific instructions on how to make your deposit and within minutes you can start playing!
Making withdrawals
Players must ensure that they have fulfilled all wagering requirements if they used a bonus to play. To withdraw funds, locate the operator’s cashier page and pick your preferred withdrawal method. Then, enter the withdrawal amount and confirm the request.
Which cryptocurrency is there for online casino
When it comes to making deposits and withdrawals, there are a good number of cryptocurrencies for players to pick from. The most popular cryptocurrencies available are:
Binance coin
Bitcoin cash
Chainlink
Ethereum
Litecoin
Polkadot
Ripple coin
Stellar
Benefits with Crypto casino
Cryptocurrency has been around for over 10 years and is gradually becoming one of the most widely accepted gambling payment options. Below are a few benefits of crypto gambling:
Crypto is not always taxed
Low transaction fees
It’s decentralized, meaning that no one can freeze your crypto account
Faster processing times
Drawback with cryptos casino
Despite having plenty of obvious benefits, crypto still has its flaws. Indeed, two key drawbacks of gambling with crypto are:
It is not yet a household banking option
It’s volatile. This means that cryptocurrencies can experience fluctuations in their value.
Summary
Playing in cryptocurrencies has been a hot topic for a few years now, because of the enormous advantages in terms of transaction times, absolute privacy of your information and the low costs associated with payments. Currently, there are a good number of reputable online casinos accepting this payment option.