Almost a decade and a half after the launch of the first cryptocurrency, it’s clear the payment options are more than just a trend. Digital currencies have proven to be viable transaction alternatives. Internet gambling is one industry contributing to the growing prominence of virtual coins. You can easily find online casinos that accept different cryptocurrencies. How do you go about gambling on crypto casinos, though? Not every online gambler knows how to gamble on the blockchain, and we are here to help. This extensive guide answers some common questions about cryptocurrency casinos, ensuring you are well-informed.
What to Expect on Crypto Casinos?
- Thorough reviews of top cryptocurrency gaming sites
- Ratings by crypto gambling experts
- Crypto casino bonuses and promotions
- Types of virtual currencies used for gaming
How Do We Rate Crypto Casinos?
Our review team consists of industry experts with extensive knowledge in various online gambling fields. So, we know what to look for in an online crypto casino. We conduct comprehensive investigations of every gaming platform before listing it on our site. Casinos that accept virtual currencies remain relatively new to some players, and some shady operators take advantage of this. Therefore, we don’t only rely on what an operator says about itself. Below are the chief categories we test when reviewing cryptocasinos.
Security and Licensing
When cryptocurrency first became possible, regulation wasn’t much of a concern. Operators that accepted virtual coins didn’t need licenses to provide services in many regions. However, as blockchain gaming gained a larger following over time, calls for regulated casinos increased. Now, the best crypto casino sites have licenses. Originally, only one or two jurisdictions licensed gambling websites that supported crypto, but the situation has since changed.
The UKGC is among the regulatory bodies that register cryptocurrency gambling platforms. We insist on regulation because it ensures an operator serves players according to established standards. It also guarantees you are playing on a legitimate site. The freedom associated with digital coins has fueled the growth of rogue casinos.
Another element we consider is the level of security a cryptocurrency site provides gamblers. Even though virtual coins offer better security than fiat, a casino should have basic security solutions. It should protect customer data through standard encryption technology. KYC (Know Your Customer) policies are almost mandatory at the best crypto casinos to verify user identity and reduce fraud cases. We also check for regular independent audits from reputable organisations to ensure the integrity of the software and games.
Provably Fair Casinos
If you are playing at a crypto casino online for the first time, ‘provably fair’ is a phrase you will come across frequently. Provable fairness is specific to gambling sites accepting digital coins. It’s an algorithm that allows players to verify game fairness. Due to the presence of shady operators, the need to prove game quality and integrity is higher than ever. When spending money on real games, you want assurances that the outcomes after a bet are naturally random. Provable fairness solves this. The system works by developing a number seed you can use to verify game results manually.
Therefore, you can easily track your bets on certain games. With provably fair gaming, you are confident about where your money goes. Not all cryptocurrency websites are provably fair, though. Hence, when compiling a list of the best crypto casino sites, we make sure they have provably fair games. Besides fairness, our team also measures the game quality. We look at where an operator gets its products because it determines their standards. If a site provides exclusive options, then we test them to see how they fare against popular alternatives.
Types of Cryptocurrencies
When a majority of players hear crypto gambling, they think about Bitcoin. It’s not surprising, given the coin heralded the blockchain payment ecosystem. However, since its inception, thousands of alternative coins (altcoins) joined the market. Some of them are more suitable for gamblers. So, when reviewing a crypto casino, we check the virtual currencies accepted. A typical crypto gaming platform should support at least three coins. Bitcoin, Ethereum and Litecoin are some of the most popular.
The digital currencies available matter because they are not all made the same. Thus, your internet gaming demands influence your choices. Some coins are designed for privacy, allowing you to mask your gambling transactions. Monero and Dash are examples. If you want a virtual currency that behaves similarly to fiat, Ripple is a good fit. You can also find coins built for fast transactions and, others, for low fees. The best online crypto casino should align with your gambling requirements.
Promotions and Bonuses
The best crypto casinos have generous bonuses. It’s one of the plus sides of gambling on the blockchain. Thanks to the low or non-existent transaction costs of crypto payments, operators save money as much as players. For this reason, they can afford to pass savings to the customer in the form of bonuses and promotions. Our ratings consider the types and amounts offered in promotions. More importantly, though, we analyse the terms and conditions. It’s not uncommon for a casino to award large bonuses to rope in players, then tie them to unfavourable conditions.
So, we break down bonuses to ensure they are fair. We also watch out for false advertising. Our team keeps an eye out for exclusive bonuses from trusted crypto casinos. We will inform you if a website offers VIP promotions, mobile bonuses and customised offers, such as free spins on your birthday. Another element we investigate is how easy or hard it is to claim bonuses on a cryptocurrency gaming platform.
Advantages of Crypto Gaming Sites
Digital currencies are gaining popularity because they are uniquely suited for online gambling. Blockchain transactions solve several issues with traditional payment methods, which is why they appeal to a section of gamblers. Here are the primary benefits of gaming with cryptocurrency.
Virtual coins run on the blockchain, a decentralised, distributed ledger. It means the network is not under the influence of any bank or government. This trait affords users better control than with fiat currencies. Decentralisation also creates a few other advantages.
One of the plus sides of a decentralised system is shorter payment processes than conventional banking solutions. When paying using a card or e-wallet, an intermediary, usually a bank, must approve the transaction. Payouts from gambling websites take particularly long due to extra scrutiny. Virtual coins don’t have the same restrictions. You can receive your withdrawals in 15 minutes to an hour after an online crypto casino authorises your request.
Another benefit of gambling on the blockchain is better security compared to regular casinos. When depositing or withdrawing cryptocurrencies on a gaming website, you don’t have to provide personal details. Transactions require your wallet address. For this reason, you don’t risk personal information.
Disadvantages of Crypto Gaming Sites
No payment system is perfect, and you have to know where digital coins fall short. Learning the downsides of blockchain transactions will help prepare for them.
Cryptocurrencies are highly unstable, with prices rising and falling from one day to the next. The assets react to the slightest market changes. For example, a currency can attained record-high prices in one month, then lose half its value the next. So, your bankroll can increase or decrease depending on how a currency performs.
Players should be especially careful when sending cryptocurrencies because the payments are not reversible. If you send coins to the wrong address, then they are lost forever. Unlike fiat, blockchain payments don’t allow reversals.
Threat of Regulation
As virtual currencies become more popular, governments have started taking notice. Calls for the regulation of cryptocurrencies increase by the day, and some regions already have legislation in place. Even though regulation might be beneficial to a point, concerns are that it might take away the essence of blockchain transactions.
What to Consider when Choosing a Crypto Casino?
Gambling with cryptocurrency might be novel to some players, but it’s not much different from regular gaming. The biggest distinction is transacting with digital coins rather than fiat currency. Therefore, picking a suitable platform shouldn’t be complicated. We apply the same criteria used on legacy casino sites. For one, we ensure a gambling website is trustworthy, reputable and secure. Our list of trusted crypto casinos is a good place to start.
Decide which type of gaming site you want. You get to pick from two main alternatives. One is the crypto-only platform, which doesn’t accept any other forms of payment. The second is the hybrid casino, which supports both fiat and virtual currencies. If you prefer switching from one mode of payment to the other, then this is the site for you.
Game variety is another aspect you must include in your criteria. The best crypto casino sites ensure gamblers have a decent library from which to choose. Even if you want to bet on one genre, such as online slots, the platform should have different types. 3D, classic and video slots are the primary categories. When it comes to table games, check if an operator has variations. Cryptocurrency sites also have live games.
Another consideration for selecting a casino is usability. A good gaming site must be easy to use. Games should load fast, and the navigation should be simple. It must also be accessible on multiple devices. If you prefer gambling on mobile, the casino you pick must provide a responsive website or native app.
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Most Popular Crypto Coins
Part of the appeal of crypto gambling is the sheer number of coins available. In the early use cases for digital currency, Bitcoin was the go-to because it was the pioneer in blockchain transactions. So, when gambling operators began supporting crypto, it was the chief payment solution. However, as people embraced virtual coins, developers created altcoins and gambling tokens to compete with the original.
Presently, the market has over seven thousand digital currencies. Of course, not all of them are suitable for gambling and finding the perfect one for you might take a while. Nonetheless, most of the top 20 coins by market share are viable for internet gaming. In this section, we highlight three of them.
This coin was developed on the original blockchain in 2009. It introduced the decentralised network to the world, opening the door to a different way of spending money. With BTC, you can be confident that no third party interferes with your transactions. However, it is not completely anonymous. Due to increasing dominance, Bitcoin doesn’t post the best speeds compared to other coins. Its biggest selling point is safety. The currency is the most trusted, which also means almost every crypto online casino supports it. Additionally, the coin is easily accessible; you won’t have trouble finding a crypto exchange that sells and buys Bitcoin.
Online gamblers prefer Ethereum over a majority of other coins for its efficiency. The Ethereum network is modelled after the original decentralised blockchain to fix the issues of the latter. Ether is the currency running on the Ethereum blockchain. One advantage of Ethereum and Ether is high speeds. Hence, if fast payments are critical to your gaming, then Ethereum is the currency for you. Another reason it’s among the top coins for online gambling is that it has low transaction costs. It means you can get from your bankroll by reducing the amount spent per transfer. Ethereum doesn’t guarantee a high level of security, although it is relatively safe.
Similar to Ethereum, Litecoin was based on the decentralised nature of the original crypto, but with faster speeds. Therefore, it serves as a practical alternative. The coin’s average acceptance time is under five minutes. Founded in 2011, Litecoin provides secure payments across borders. Cost-effectiveness is the most appealing factor about the altcoin. It has near-zero transaction costs, leaving you with more coins in your wallet. Litecoin employs the Proof of Work algorithm to ensure the security of payments. Although the currency’s popularity waned over the years, it remains one of the top selections in online casinos.
Most Popular Coin Wallets
If you are going to gamble at cryptocurrency casinos, then you require a wallet. It’s the platform where you store coins. A crypto wallet allows you to send and receive virtual currencies from individuals and institutions. As blockchain payments surged in numbers, so did wallet options. Web wallets are some of them. Online wallets are preferable for many users because they provide quick access to funds. Not all wallets are right for you, though.
A good coin wallet should have a simple registration process. It shouldn’t take hours to get approval. Reputable wallets institute security measures to safeguard customer data and funds. Crypto exchanges, which house most online wallets, are popular targets for cyberattacks. Hence, you must be confident the platform is capable of protecting your coins. Here are three wallets you can consider when playing at a crypto casino online.
American-based Coinbase is the biggest cryptocurrency exchange. It caters to professionals and amateurs alike. It markets itself as the most trusted crypto platform, and for good reasons. All assets entrusted to the provider are in offline storage, reducing the risk of customers losing funds in data breaches. It has insurance for USD cash balances, as well. Convenience is another reason to consider Coinbase. The platform supports a long list of popular digital currencies, thereby, letting you choose the best ones for gambling. Coinbase has a mobile app, giving you to access your wallet from anywhere. The service is available in more than 100 countries.
Another big name in the selling, buying and trading of virtual coins is Binance. If you intend to try different currencies, Binance is the right platform. Users can hold over 600 coins. The platform also has some of the lowest fees in the sector. Binance provides standard account security, including KYC protocols, during registration. It also boasts advanced data encryption and personalised access control. The wallet has numerous features, allowing users to transact efficiently. Regardless of your experience with crypto, you won’t have trouble using this service. Binance has an iOS and Android app, enabling transactions on the move.
If you want a reasonably priced, decent wallet, try Electrum. The cryptocurrency platform might not support many coins, but it offers the most popular ones. It has several features, including multi-sig, which allows splitting permissions to use funds between multiple wallets. Regarding security, Electrum protects customer accounts in a few ways. It provides two-factor authentication for layered security. The provider has several user interfaces, ensuring you can use the site on more than one device. Another benefit of using Electrum is that it supports hardware wallets. Therefore, you can link third-party cold storage to segregate funds.
Frequently Asked Questions to Crypto Casinos
Yes. Cryptocasinos are as safe as legacy gaming websites, if not more. However, trustworthiness depends on a cryptocurrency platform. It means some sites are safer than others because they have different standards. Therefore, you should know what determines safety on a gambling website. For one, stick to regulated casinos, since they have to observe basic security measures. Check that an operator uses reliable software that doesn’t compromise your safety. Provable fairness is another aspect that dictates how trustworthy a gambling platform is. It guarantees game fairness by letting you verify results. Look up our trusted crypto casinos for a suitable choice.
Account registration on a crypto casino is not different from a regular one. So, click the signup button, then provide the required details. A casino typically asks for your name, email address and phone number. You also have to create a username and password. Follow the prompts on the registration page, which vary from site to site, until you complete the form. Agree to the terms and submit. After verifying your email address, you can deposit funds and begin playing. Note that licensed crypto casinos have KYC processes, which might mean providing additional information.
The deposit process is not complicated when gambling at a crypto casino online. If you already have funds in your crypto wallet, go to the cashier section of a gaming platform. Click on ‘Deposit,’ then pick your preferred coin. The website generates a wallet address where you will transfer the money. Continue according to the instructions to authorise the payment. Once completed, funds will be available in your playing account instantly. Be careful with the casino’s wallet address because if you get it wrong, you won’t get your money back.
Withdrawing via digital currencies on an internet casino is fairly simple. It’s identical to the deposit process. Head to the payments page, navigate to ‘withdrawals,’ choose the currency and amount, then submit your request. Payouts can have charges, which you must factor into your amount. Also, the cashout must be within the established limits. Ensure you satisfy other withdrawal rules, such as wagering requirements. In some casinos, the currencies available for deposits might not support withdrawals. Therefore, choose wisely.