Curious about crypto gambling? Find useful tips on how to use cryptocurrencies in online casinos.
Cryptocurrencies are gaining popularity everywhere, but nowhere have they perhaps had a more visible impact than in the online casino industry. Because cryptocurrencies are intangible, encrypted funds that are protected by blockchain technology, they represent a much safer, less complicated way for online players to spend and deposit money.
As with every other corner of the digital revolution, cryptocurrencies have broken down international borders and increased connectivity for online players. Previously, if you lived in the United Kingdom, the likelihood of you taking part in a Texas Hold'em game in Reno, Nevada, on a quiet Tuesday night were slim due to both the difference in locale and in national currency.
With the advent of cryptocurrencies and online casinos occurring pretty much in tandem, it no longer matters where a player is currently located for them to play alongside other people in almost any country. Likewise, cryptocurrencies represent viable, instant payment methods with far fewer legal oversights than what players face when using a credit card or real money.
If you are curious about how to bring cryptocurrencies into your playing profile, this article will explain everything from how crypto casinos work to whether Bitcoin is your only option. Get a full overview of how to use cryptocurrencies in online casinos.
Cryptocurrencies are decentralized, anonymous funds that are not regulated by government and banking officials in the way that traditional fiat currencies are. Because of the unique mobility and anonymity they can provide, cryptocurrencies were early adopted into the online gambling community as a means of expanding play and enhancing player experience. Cryptocurrency casinos do not differ from regular casinos at all except with regard to the kind of money that you can use to bet.
To begin playing with cryptocurrencies, you will need to obtain a crypto e-wallet. An e-wallet is a storage mechanism for digital currencies. Some e-wallets come in app-based forms, and others arrive with a hardware “ledger” that stores the cryptocurrencies much like an external hard drive. Both types are heavily encrypted, protected, and PIN-authorized.
Building a digital wallet is a relatively simple process in which you then choose your preferred cryptocurrencies. When you enter an online casino that accepts crypto, you will be asked to designate which currency you intend to use during your wagering play. From there, you can play with those designated e-currencies just as you would with cash or any other form of currency.
Crypto players can deposit crypto coins or tokens straight into online casinos via their e-wallets. Everything from live dealer card games to sports betting to top slots can be paid for now with cryptocurrencies. Once you have your e-wallet set up, you can instantly transfer to or accept funds from the e-wallet address of any other player that you win from or lose to.
Because cryptocurrency is protected from inflation, you don't have to worry about its stability or whether difficult conversion calculations need to take place when transferring it to the e-wallets of individuals anywhere in the world. The only fees associated with transferring cryptocurrencies in a casino setting are the 1% to 2% transaction fees charged by some casinos, and those fees go directly into the crypto exchange rather than the casino.
Cryptocurrencies are currently recognized by the United States government largely as “commodities” rather than legal tender. This means that wagering done with cryptocurrencies is not viewed by local regulating authorities as formal gambling.
While online casinos of any kind, crypto-friendly or not, must abide by established state laws regarding gambling legalities, there are no federal or state mandates forbidding online gambling. Couple that fact with cryptocurrency's current non-tender status and cryptocurrency gambling is not just legal, but it is also a way to enjoy casino games without having to navigate the same kinds of jurisdictional reporting that goes on at traditional casinos.
One of the most appealing benefits of using cryptocurrencies in a gambling setting is that they operate outside local or international authorities that would otherwise govern exchanges for all other kinds of currency. This means that your e-wallet can never be frozen or have funds taken away from it due to any state, federal, or global governmental body.
As mentioned, cryptocurrencies are protected at the highest level of security by their reliance on blockchain technology. Crypto is inaccessible to governments and cybercriminals alike. This makes a crypto gambling site is, in many ways, more secure than a physical casino site. Beyond these built-in safety mechanisms, many top crypto casinos possess a Curacao gaming license or its equivalent to ensure alignment with online gambling laws.
There's a strong argument to be made that online casinos are safer than regular casinos due to every game being monitored and stored by blockchain technology. The provably fair algorithm used by online casinos that accept cryptocurrency allows every player to verify the results of the game, examine particular hands played, or view the randomization of things like bonuses. Fair games are guaranteed this way, and the entire gambling experience becomes more transparent for all.
The provably fair algorithm disallows the traditional house edge and maximizes the randomization of every game far past any human or software means used before. So, online gambling is not just safe — it's also one of the more trustworthy forms of gambling entertainment available. Add that to cryptocurrency's built-in resistance to tampering, and you're in a playing landscape where cheating, bias, and errors are much closer to impossible.
The gambling industry has been revolutionized by crypto casinos due to their special features and a wide variety of easy-to-use payment methods. Crypto casinos are online betting sites where cryptocurrencies are permitted as a legitimate means for conducting buy-ins and payouts. Some crypto casinos are crypto-exclusive, and some are crypto-hybrid, meaning that they accept crypto and other forms of payment.
Crypto casinos offer players enticing features, such as welcome bonuses, cash-back bonuses, and a huge variety of games to play. Many crypto-friendly casinos have developed specialized games that only use crypto. The best sites also offer customer support for any issues that may arise during play and an FAQ section where interested players can get quick answers ahead of buying in.
Just like a live casino, crypto casinos center around different forms of wagering. The same table games and free spins you can enjoy in a physical casino setting exist in crypto casinos.
However, there are a few different steps new crypto players need to take to get started. Before you buy into your first crypto blackjack round or hit the jackpot at your debut crypto roulette game, take these basic steps to get set up to play:
Once you have taken these preliminary steps, you are ready to choose your first game on which to wager. Whether that is video poker or esports, remember that you generally have two options for using cryptocurrency to pay. It can be used directly as a form of payment to another crypto wallet, or it can be converted to regular fiat money and transferred as traditional payments are.
Depositing cryptocurrencies into an online casino is a quick and easy process. When you are creating your account at your crypto casino of choice, you will be met with a step that asks for your deposit method. There, you will see options ranging from linking checking accounts and credit cards to paying with cryptocurrencies.
Once you select crypto as your deposit method, you will generally have three choices on how to link your e-wallet to the casino: a scannable barcode, a tab to click that launches your e-wallet in the casino interface, or a field that shows the casino's crypto address that you can store in your own crypto wallet. Many top crypto casinos will even offer deposit bonuses at this step when you choose cryptocurrency as your deposit method.
Bitcoin is the oldest and most prevalent form of cryptocurrency in the world, but it is, by no means, the only one. Most crypto casinos accept a wide array of different cryptocurrencies. Sometimes, you may hear crypto-friendly casinos described offhandedly as “Bitcoin casinos,” and there are exclusively Bitcoin gambling sites, but no one needs to feel limited only to Bitcoin.
Cryptocurrencies outside of Bitcoin are known as “altcoins.” The following list provides a few commonly used altcoins in online gambling:
Don't be confused by seeing both Bitcoin and Bitcoin Cash (BCH) advertised in the cryptocurrency world. Bitcoin Cash is simply the updated version of the original Bitcoin Blockchain. Some computers accepted that update and others did not, so Bitcoin split Bitcoin Cash off into a separate entity. Many crypto experts regard Bitcoin Cash as the best Bitcoin due to its cheaper transaction fees and faster transaction times.
Naturally, the “best” crypto is a matter of personal preference, but one thing is true: Cryptocurrencies are poised to continue their reimagining of online gambling for the foreseeable future. The future of cryptocurrencies and blockchain technology appears horizonless at present. New applications for crypto in the gaming world are being routinely developed as more and more casinos and other businesses embrace the benefits of these new digital payment options.
With so many exciting opportunities opening up in the world of online gambling through cryptocurrencies, now is definitely the time to buy into an online gambling community you can trust and enjoy, like GamblersPick. Check out GamblersPick for a world of online betting games ranging from Bitcoin casinos to bonuses where no wagering is required to win.
Casinos
Games
Jackpots
