Why crypto casinos have fewer restrictions than traditional online casinos?
Cryptocurrencies have become a critical and interesting topic in the current world. People have come to comprehend the benefits and the process of using cryptocurrencies in various aspects of their lives. Online gambling has existed for quite some time, but most established UK betting sites are still using traditional payment methods. With the advancement in technology, different online casinos have embraced the use of cryptocurrency.
Previously, the Bitcoin brand was the most preferred currency in this industry due to the benefits that it brought to the players. Nevertheless, with the emergence of other Cryptocurrencies, the concept of crypto casinos was established, and some significant improvements made on the existing Bitcoin casino. Most of the Bitcoin gambling sites use provably fair technology, which ensures transparency of the best and the fairness of the results.
What to check for before choosing
When choosing a crypto casino, it is wise to ask yourself some questions such as:
- Do you meet all the betting requirements?
- Is the casino trusted?
- What are the overall packages offered by the site?
- How wide is their selection of games?
- How high are their bonuses?
- Is the casino accessible and easy to use?
5 of the best crypto casinos
Betcoin casino – the player enjoys fast deposits and withdrawals and a wide variety of table games. It also comes with a live broker.
Cryptowild casino – enjoy a 200% bonus on your first deposit, more than 1000 games, and about 67 poker games.
FortuneJack – with 1492 games and four provably fair games, this site is ranked among the best overall casinos.
Betchain – enjoy 2346 games, 210 jackpot windows, and several provably fair games. The player also gets a 150% bonus on their first deposit.
Bitstarz – with its 2400 games, fast deposits, and withdrawals, this site has gained players trust since 2014
Cryptocurrencies Accepted by These Casinos
As much as there are several types of Cryptocurrencies out there, not all of them are usable in online gambling. Some of the most common currencies used in crypto casinos include:
- Bitcoins (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Dogecoin (DOGE)
- Monero (XMR)
The Process of Transacting on Crypto Casinos
Follow these steps for successful transactions on crypto casinos:
Select your cryptocurrency – the digital currency of your choice must be compatible with the casino at which you intend to play. Remember that these currencies are , and you should adequately prepare for their rapid value fluctuations within hours.
- Purchase cryptocurrency – you should pick an exchange option depending on the transaction costs and the recommended method of payment. Coinbase is an exchange option that works well with Bitcoin and Litecoin
- Create a crypto wallet – this will be used to store your digital money. The wallet comes with a private key for access and a public address that enables the receiving of funds. There are cold (Not connected to the internet) and hot (Connected to the internet) crypto wallets.
- Deposit – Some casinos only accept Cryptocurrencies, while others have options for traditional methods such as debit and credit cards. On the casino's cashier page, copy the reference code, and paste it into your wallet. It will take some time for the casino account to be funded, depending on the network traffic and the coin picked.
- Withdrawal – this is transferring your winnings from the casino to your crypto wallet. Copy the reference code and paste it into the casino's withdrawal page. Once the funds arrive into your wallet, you may convert it into cash or hold it as a digital currency.
Benefits of Using Cryptocurrency
For the last few years, the digital currency has gained popularity across the world. These are the reasons why a lot of people prefer using Cryptocurrencies:
- Accessibility – all you need to have access to your digital account is a smart device (smartphone or computer), and an internet connection. Presently, over 2 billion people around the world have access to the internet.
- Fast transactions – with only your smart device and an internet connection, you can make payments and transfer funds with a click of a button.
- Security – cases of fraud are rare due to the encryption of the owner's identity. The currency is decentralized, meaning that no bank or government controls it.
- You own the account – it is the only electronic money system that gives its users the freedom to fully own and control their accounts
lastly: No identity theft – the transactions are , and therefore the systems cannot be hacked.