Cryptocurrencies are an interesting topic. This is evidenced by the countless articles written on the subject. Investors, speculators, central banks, presidential hopefuls and private individuals are all reading and wondering what will happen next.
New coins are entering the market, altcoins are fighting for relevance and the big coins are establishing themselves in real-world finance. Bitcoin and Ethereum both launched ETFs this year, solidifying their reputation with major investors and more of the general public.
One of the agendas hotly debated in the upcoming US presidential election is which side of the crypto fence each candidate stands on.
With such high-profile proponents and regular news coverage, cryptocurrencies are reaching larger and larger audiences.
It is nice to know that cryptocurrencies can also be used for something lighter and more fun. Developers and online casino operators are allowing users the chance to blow off some steam using their crypto tokens. Crypto casinos offer bettors and site visitors the possibility of using their cryptocurrencies for enjoyment and thrill.
Several cryptocurrencies are accepted for online gambling, including Bitcoin (BTC), Ethereum (ETH) and a number of alt and meme coins. Crypto casinos sometimes referred to as BTC Casinos offer users more online anonymity, less transfer costs and faster withdrawal times.
If this is something that interests you, then continue your reading to learn more about the lighter side of cryptocurrency.
What Are Crypto Casinos?
Crypto casinos are almost identical to traditional online casinos, except for the payment method. Typically, users would pay and play using either their credit card or funds transferred from their bank account. With crypto casinos, users deposit, bet, win and withdraw using their cryptocurrency of choice.
Will My Cryptocurrency Be Accepted?
There is a good chance that your cryptocurrency will be accepted, especially if you hold one of the major tokens. The low cost of digital exchanges and peer to peer networks allows users to change into an accepted cryptocurrency, in case their currency is not currently accepted.
The following is a list of the most frequently accepted currencies. Do not let this put you off however, be sure to check your favorite crypto casino for a list of currencies allowed.
- BTC = Bitcoin
- BCH = Bitcoin Cash
- LTC = Litecoin
- ETH = Ethereum
- XRP = Ripple
- BNB = Binance
- ADA = Cardano
- DASH = Dash
- DOGE = Dogecoin
- EOS = Eos
- LINK = Chainlink
- TRX = TRON
- USDT = Tether
- XMR = Monero
What Is The Benefit Of A Crypto Casino?
Crypto casinos trump regular online casinos in three key areas. 1. Speed of transfer/withdrawal, 2. Cost of transfer and 3. Online anonymity.
Transfer speeds can be improved by using cryptocurrency. Especially when compared to bank transfers. Bank transfers can take a day or two to reach the intended recipient. International transfers can take even more time. Transfers times using cryptocurrencies have become almost instantaneous thanks to the number of users and exchanges on the market.
The time it takes for your transfer to reach your betting account might not be critical. But it can be important if you intend on betting on an upcoming sporting event or just prefer the convenience of seeing your winnings reach you quickly.
The cost of crypto transfers has dropped significantly. Exchanges have been competing with one another to such a degree, that costs are now in the decimal percentages. Credit card users might argue that they have no fees on their online payments, but credit card companies charge the vendor up to 5% of the payment amount per transaction. This money could be offered to users by casino operators in the form of added bonuses.
Online anonymity may not interest every player, but for those living in countries that restrict online gambling, it can be a game changer. Several countries prohibit online gambling. Residents of such countries might be able to use trusted VPNs and crypto casinos to continue to engage in a favored pastime.
Some crypto casinos offer further online privacy by not requiring KYC (Know Your Customer) information from their players.
Do Crypto Casinos Offer Bonuses?
Crypto casinos offer many of the same bonuses that regular online casinos offer. Bonuses typically form a part of a casino’s rewards program. Bonuses are used for two distinct reasons, 1. To attract new players and reward existing players and 2. Differentiate one casino from another.
Crypto casinos are relatively new, compared to traditional online casinos and so operators are offering especially lucrative bonuses. One of the most commonly used is the welcome or sign-up bonus. New players are rewarded for joining a platform, operators match the initial player deposits up to a certain limit.
Bettors will also find other bonuses on crypto casinos, such as re-up bonuses, free spins and RTP (Return To Player) benefits.
Responsible Gambling
It is important that site visitors remember that crypto tokens still equate to real money and that they gamble accordingly. Proper strategies, breaks, accepting losses and realizing that gambling is fun and not a race for profits, need to be remembered.
To Sum Things Up
Crypto casinos can offer those invested in cryptocurrencies the chance to have some fun. Quicker transfer times, lower costs and less online scrutiny are all valuable benefits to players.
Choose a crypto casino that suits your playing style, design tastes and game offers. Be sure to always gamble responsibly, keep things light and enjoy the process.
