It might seem laughable now, but not so long ago, cryptocurrency wasn’t something many people were ready to buy into. The trades were speculative which a lot of people didn’t participate in. Things couldn’t be more different now. Several industries have completely embraced this technology. The online casino industry has been one of the earliest embracers of cryptocurrency. Crypto casinos allow you to both transfer and withdraw winnings in cryptocurrency, rather than exchanging these for real money. Cryptocurrencies are a good alternative for those who experience more restrictions on deposits and withdrawals at online casinos. The selection of games can vary, but today many casinos have an equally good selection of games even if you use cryptocurrency. In addition, it allows you to bypass problems with transferring money to the casino you want to try. But is it safe? What are the advantages and disadvantages of using cryptocurrency with online casinos? Let’s find out.
Crypto Casinos: Are They The Best Way Forward?
What are the benefits of crypto casinos?
When you transfer money to a foreign online casino with your regular bank debit card, there are often both fees and currency surcharges when you transfer the money. The reason is that many casinos might not support your local currency, and you must play in either euros, pounds, or dollars. But with cryptocurrency, you don’t have to convert the money first and can play with the cryptocurrency you prefer. In addition, you have more control over deposits and withdrawals from the casino.
It is often the case that there are longer waiting periods for withdrawing real money versus cryptocurrency, and you manage the transactions yourself. Cryptocurrency is also a very safe option to pay online. When you leave card information or information in digital wallets, there may be a greater chance of hacking and the money being stolen. In the case of cryptocurrency, you have your security keys for the transaction, and the blockchain ensures that the exact amount is transferred.
Banks have also been given stricter restrictions on the transfer and receipt of money from online gambling establishments. As cryptocurrency is decentralized, you don’t have to think about such restrictions and can both send and receive money from whoever you want.
Always make sure to read the terms and conditions carefully so that you see if there are any special rules for playing with cryptocurrency and that you don’t miss out on any bonuses.
The absolute nicest thing about playing online is picking up winnings. This is also incredibly easy when you have a crypto wallet. Sites that accept cryptocurrency deposits will also accept withdrawals of your winnings in the same currency. They also allow you to withdraw multiple winnings in each transaction, and they also have no withdrawal limits once you’ve made your cryptocurrency deposit. This gives you great flexibility compared to other payment methods that are more restrictive.
Another advantage of using a crypto wallet is that withdrawals are instant and mostly free. Many websites otherwise charge fees for withdrawing winnings.
If you have a crypto wallet, it only takes 24 hours before you have your winnings in your wallet. This is much faster than the traditional withdrawal methods and is one of the reasons why cryptocurrency is becoming increasingly popular as one of the preferred payment methods for online players. The more you think about it, the more it makes sense to switch to crypto for online casinos. Swimming with the current is usually the right thing to do.
Which casino games can be played with cryptocurrency?
A few years back, there was a significant discrepancy between games that supported cryptocurrency and those that worked with real money. Today it is no longer like that! You can play all your favorites from the top producers you like, and in addition, enjoy the benefits of playing with cryptocurrency.
Today you can make use of slot machines, table games, scratch cards, bitcoin live baccarat, and much more with cryptocurrency. It is no longer the case that you have to compromise on the entertainment value when you would rather play with Bitcoin, Ethereum, or other well-known cryptocurrencies. But make sure to choose a crypto that might be more stable.
Which cryptocurrencies should you play with?
Today there are thousands of different cryptocurrencies and tokens that you can use at online casinos. But one of the biggest downsides of crypto is that the market is extremely volatile. This means that the value of some cryptocurrencies can change dramatically in just a few days, and thus you risk being left with less value for money while playing. On the other hand, it can also go the other way. You can get more bang for your buck while playing.
What to check in a crypto casino before playing?
License and regulations
It is essential to choose a casino that is controlled by a governing body. As a rule, it is the casino that is regulated by Curacao that offers cryptocurrency payment. You can check whether a casino has a license by clicking on the license logo at the bottom of the casino’s website. If you cannot find this, they may have written the license number on the website and the address of the casino. You must always put safety first. Playing at an online casino should be fun and also safe. When choosing your preferred casino for games with cryptocurrency, you should always check that the site has a license. This applies to all casinos, and not just casinos that offer cryptocurrencies.
When searching for casinos that accept cryptocurrencies, you should look for sites that are licensed by Curacao eGaming. (The Malta Gaming Authority does not issue licenses to casinos with cryptocurrencies.) The license ensures that the casino offers its players a safe and not least a fair gaming environment that protects you from fraud.
Check that the casino has the games you are looking for. There are still a good number of crypto casinos lagging with the selection, and therefore there is no point in opening an account at a casino where you cannot find a game you like. You can also check about which game manufacturers they offer. If you have never heard of the game percentages, this may indicate that it is an unregulated crypto casino that does not offer fair games
Bonus and turnover requirements
Here there are several criteria you have to check. For example, there may be restrictions on games that do not count toward the bonus. In addition, the turnover requirements for bonuses can be so high that you have no opportunity to meet them, either because of short deadlines or because the requirements are too high in general. Typically no more than 35x your bonus money in 14 days, which is a compliant requirement for most people.
As mentioned earlier, there is now a large selection of online casinos and betting sites that offer Bitcoin and cryptocurrency to their players. There are therefore good opportunities to find lucrative welcome offers when you register on a new website. We recommend that you check several places to see what the various betting sites and online casinos offer their players of various bonuses and promotions.
Bookmakers and online casinos that offer cryptocurrency would like to attract more players who have a registered account with Bitcoin or another cryptocurrency. Many will therefore be able to offer targeted and great welcome bonuses with cryptocurrency to such players.
Most of the bonus offers you will find on betting sites and online casinos that offer cryptocurrency will be different deposit bonuses, but you will also be able to get free spins on popular slot machines when you deposit with Bitcoin or other cryptocurrency using your crypto wallet.
Therefore, cryptocurrency is a good choice for playing online
It’s easy and safe to play with cryptocurrency on online gaming sites. The fact that you can play anonymously and secure fast withdrawals are some of the biggest advantages of this payment method.
However, it is important to be aware of the risks involved in gambling on sites that accept Bitcoin and cryptocurrency. Be sure to read all relevant information and check important factors such as licensing, welcome bonus, and the withdrawal process.
There have gradually become many betting sites and online casinos that offer Bitcoin and cryptocurrency, so you just have to find the site that suits you best.
Always remember to take the good bonus offers you get as a new player on these sites with you.
Fees and withdrawal limits
The withdrawal limit determines how much you can withdraw during a week or month. This sum should not be too low, as this indicates a casino with little liquidity. In addition, it is not usual for a casino to charge extra fees for using cryptocurrency as payment, but unfortunately, some do. It is therefore important to check these criteria so that you do not incur unpleasant extra costs the year you play.