Guide to Crypto Casinos
Written by Matt
Published date · July 28, 2021 | Last Updated · July 19, 2022 | Read Time: 4 mins
The United Nations recognises 180 currencies, currently operating worldwide. Over the years, the popularity of cryptocurrencies continued to grow in the United Kingdom, United States, and all around the world. And so did the payment methods available at various licensed casinos. Although crypto gambling sites are still relatively new to the casino market, they are becoming popular — not just with those that trade Bitcoin but also with the entire gambling community. Crypto casino sites feature a variety of games, including table games, jackpot slots, video slots, and slot games. They also specialise in a wide range of crypto payments.This guide will explain how crypto casinos work in more detail, what payment methods are available to loyal players, and some of the biggest advantages of using cryptocurrencies when playing online casinos. Finally, we’ll wrap it all up by addressing the ultimate question: are crypto casinos the future and will payments as we know them eventually disappear? Let’s go.
How Do Crypto Casinos Work?
Cryptocurrency casinos use cryptocurrencies such as Bitcoins as their primary payment method. Normally, you’ll see methods such as Apple Pay, PayPal, Visa, Mastercard, debit cards, credit cards, bank transfers, and so on. Although regular online casinos with fiat currencies may also offer their players to deposit using digital currencies, crypto casinos specialize in crypto payment methods and do not offer any other option.
Cryptocurrency casino rules are the same as any other online casino type. You have to register your details to start playing. Most will also offer some welcome deposit bonuses for its new players. The selection of games depends on each casino, as will the promotions and various offers.
Popular Cryptocurrencies in the Online Casino World
Although there are many cryptocurrencies out there, online casinos primarily use the following six:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Ethereum (ETH)
- Dash (DASH)
It’s important to note the difference between Bitcoin and Bitcoin Cash — the evolution of Bitcoin allowed it to grow from a peer-to-peer cryptocurrency to an investment vehicle. As a result, many crypto players prefer to stick to Bitcoin Cash as it offers faster transactions with minimal scalability issues.
As Bitcoin and Bitcoin Cash are such popular choices, many casinos refer to themselves as a Bitcoin casinos — they only offer this type of payment.
Always make sure you check with your chosen casino which cryptocurrencies are accepted.
How Do You Deposit at a Crypto Casino?
To make a deposit, you’ll first have to follow these simple steps.
Make sure you have enough cryptocurrencies (Bitcoin Cash, Ethereum, Bitcoin, etc.) available in the crypto wallet app of your choice. The next step is to register at your chosen crypto casino and enter the cryptocurrency address in your wallet. This will make your payments easier to manage. Then, make your first deposit and choose the game you want to play.
And voila, you’ve just made your first deposit at a crypto casino!
Always make sure you pay attention to wagering requirements and the minimum withdrawal when you deal with crypto deposits. Like regular online casinos, crypto casinos also offer a wide selection of popular games and plenty of exclusive bonuses that come with various T&Cs players should adhere to.
Advantages of Crypto Casinos
So, what are the true benefits of playing your online casino games with a crypto casino?
One of the biggest advantages they have over traditional casino payment methods is that anyone can deposit anywhere in the world, as long as they’re accepted by the standard rules of their chosen casino. Using cryptocurrency as your payment method also frees you from any charges and taxes.
Crypto casinos also pride themselves on instant transfers; however, this largely depends on each casino. It can sometimes take up to 48 hours for the money to appear in your bank account. On the other hand, deposits, much like in the traditional online casinos, are made instantly.
Anonymous betting remains one of the biggest advantages of cryptocurrencies, as the transactions you make don’t show up on your statements. All you’ll see is the amount sent; however, it will not reveal any personal information. Additionally, crypto payments are free from any transaction and withdrawal fees you normally see at betting sites.
Are Crypto Casinos the Future?
The benefits of cryptocurrencies being used in online casinos are pretty promising. But does that meant that the traditional payment methods would slowly disappear?
It’s impossible to know what the future holds. Still, with the rise of new inventions adapted by online casinos, we can expect cryptocurrencies to remain a popular choice among loyal players.
It is expected that many online casinos will consider cryptocurrencies as a different payment method, which will leave crypto casinos with an opportunity to look at innovative ways to keep the players interested.
Blockchain technology is changing the world of the online gambling industry will likely continue to follow the innovative leader to finally welcome loyal players from around the world without any limitations. As a result, we can expect innovative ways to play a wide variety of card games, video poker, various poker games, crypto games, and more.
Bitcoin casino sites will continue to grow, offering generous bonuses and various bonus offers, along with instant withdrawals to ensure they stay on top of regular casinos and offer you the best casino experience possible. But, of course, this means regular gambling sites will have to keep up with the latest technology. On top of offering various slot games, they will have to look at how they can make the deposit method and payments and withdrawals easier for their customer.