There have been many attempts to develop digital currencies but none were successful until 2009 when Bitcoin was introduced to the world. With this new form of currency being completely decentralised, the possibilities for its use are endless and it is no surprise that many online casinos now offer cryptocurrency as a payment method.
As a casino player, you may already have some knowledge of cryptocurrencies, you could be planning to use one of these methods or you could already be enjoying the many positive benefits associated with playing at a crypto casino. On this page, you’ll discover everything there is to know about crypto gambling and also how to choose the best cryptocurrency.
How Does a Cryptocurrency Work?
Once you understand the basics of crypto, using it in your day to day life will be just as easy as reaching for your debit card and in fact, the 2 payment methods are very similar.
Crypto is a digital currency where all transactions made are completely anonymous and recorded on a Blockchain, which is basically a public ledger. Whereby with standard currencies, a bank or government would record your cash transactions, the blockchain does this.
Cryptography ensures that everything is kept highly secure along the way with currencies being traded via online exchanges, just as a stock exchange would handle ‘real cash’.
Using a Crypto Casino
The evolution of online casinos moves at a lightning-quick pace and whilst operators are constantly sourcing the most up to date casino games and technologies, they are also on the lookout for innovative new payment methods to enhance a players casino experience.
Since the introduction of this digital currency, there has been a sharp increase in the popularity of crypto gambling, and players looking for a new crypto casino will have no trouble in finding one nowadays.
Making payments to and from a new online casino with cryptocurrency are incredibly easy, fast, and extremely safe which leaves you with more time to enjoy your gameplay. Though due to the currencies volatility, there are risks attached and winnings from crypto games could be worth significantly more or less from day to day.
Before starting to enjoy your new payment method on the many crypto games out there, you’ll first need to set yourself up to buy and store your cryptocurrency and to do this you will need to choose one of the many hardware or e-wallets available.
These are physical devices which store your crypto and enable you to buy and spend your chosen currency, keeping your personal details and secure keys away from the internet- adding on another layer of security for users.
These application-based wallets are used with internet-connected devices, such as a mobile phone or tablet. The wallets generate the security keys and codes which you will need when making your cryptocurrency transactions and are suitable for storing smaller amounts of coin on. They are quick and simple to use and are especially useful when topping up your casino account.
Choosing the Best Cryptocurrency Casinos and Games
With many new online casinos out there, competition is high for your cryptocurrency and you’ll find a number of operators offering bonuses and regular rewards in return for your loyalty. It’s always worth checking this out first when choosing a new casino though, as some do not offer any rewards and this could make for pretty negative player experience.
- Not all games are available to play using cryptocurrency and making sure your chosen new casino has plenty of crypto games on offer should be a huge factor when deciding where to spend your currency.
- Most online casinos will offer a good deal of regular crypto games with some exclusive only games such as Bitcoin and Satoshi Dice, which are not available to players using standard currencies.
Check into the software providers behind the crypto games on offer, you should be looking for trusted names which provide high-quality games and can prove their security, reliability and trustworthiness.
Discover more information about each crypto casino that offers these payment methods, and find out more about the different types of cryptocurrencies here:
Security at Crypto Casinos
Thanks to the Blockchain you can rest assured that your currency is safe and benefits from the most advanced levels of security, this also means that any transactions which you carry out to your new casino are made anonymously as your details are never recorded on the Blockchain, with hackers having zero access to your personal details.
When you make a transaction at a crypto casino you will not be required to provide your banking details or any other data and payments can be made instantly and securely, with no record of the payment showing up on a debit card statement for example.
These faucets work just like a dripping tap, except for water being leaked into a sink; the faucet will drip Satoshi’s into your online casino account for completing easy tasks within certain crypto games, or for signing up to a new casino, and work as a kind of crypto casino no deposit bonus.
These faucets enable Bitcoin promotion and help to educate players towards how easy it is to enjoy some crypto gambling and let’s face it, we all like something for free! Satoshi’s may seem small, and their value is equal to one hundred millionths of one Bitcoin, but if you regularly get handfuls of these for free then they can soon build-up and be enjoyed on your favourite crypto casino games.
Deposits and Withdrawals
When making payments to and from your casino account it’s always worth checking the casino’s own procedure on this first, and once familiar with this you are ready to go within a few simple steps:
- Select your chosen cryptocurrency from the list of payment methods.
- Select your crypto wallet.
- Enter the required deposit amount and confirm.
- Choose the method you wish to withdraw using.
- Enter the amount and confirm.
- Your winnings should be in your selected wallet within minutes.
Crypto Casinos FAQs
1. What is the best Bitcoin casino?
Finding the right crypto casino for you is a personal matter and based on a number of factors- which is why we have reviewed many casinos that offer Bitcoin as a payment method. And we are players just like you- so you can trust that our reviews are honest, reliable and will provide you with the right amount of information to make an informed choice with.
2. Can I play live casino with cryptocurrency?
You’ll find that many online casinos will offer a selection of live dealer games for you to bet on using your crypto, just as you would with standard currencies.
3. What is the best type of cryptocurrency to use in an online casino?
Each type of cryptocurrency offers something different and choosing the one to suit your needs is of personal preference. On this page, you will find comprehensive guides on each version which will help make your decision.
4. Is it possible to lose winnings from a crypto casino?
There is always an element of risk involved when using any crypto due to its volatility, its worth can rise and fall from one day to the next, like any stock-based currency. Winnings one day could be worth considerably more or less so be aware of this.
5. Will I pay fees to use cryptocurrency at an online casino?
There are usually no or very low fees involved with using crypto, when choosing your new casino and variety of crypto it’s always best to check this out before signing up.
6. How do I buy a cryptocurrency?
Getting your crypto gambling journey on its way is really easy and cryptocurrency can be purchased from an exchange. There are many of these online and currency can be bought using a debit/credit card or bank transfer, and once the coins are in your e-Wallet you are good to go.
7. Can I play poker with cryptocurrency?
Enjoying a game of online poker just got even more exciting with the introduction of cryptocurrency and many online casinos will offer a number of crypto poker games for you to play. With fast, anonymous deposits, and the lower associated costs with cryptocurrency you’ll often find that crypto poker rooms will also have a lower rake charge.
8. Is it legal to gamble with cryptocurrency?
When choosing any new casino we would always advise checking that the casino holds a valid and credible gambling license, to ensure that you are playing legally with any currency. You can be sure that all of the new casinos that we review and recommend have been checked and approved for their license statuses.