Since the first public trade in cryptocurrencies in 2009, the alternative to fiat currency (real money) has been like a wild roller coaster ride! Sometimes it goes steeply uphill, sometimes rapidly downhill. This also applies to the area of online gambling, because more and more Crypto casinos are adding Cryptocurrencies to their portfolio of payment options.
But with the corona crisis, Bitcoin and Co. are experiencing their biggest boom to date. Although the big investors see the digital currency as an investment, one trend cannot be dismissed out of hand: slowly but surely, cryptos are developing from pure speculative objects to becoming a serious means of payment.
Most Recommended Crypto Casinos
Which cryptocurrencies do crypto casinos accept?
The most popular currencies accepted by cryptocurrency casinos are:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Dogecoin (DOGE)
- Monero (XMR)
- Litecoin (LTC)
- Zcash (ZEC)
- Tron (TRX)
- Dash (DASH)
- Ripple (XRP)
In general, some casinos also support traditional deposit methods such as VISA or MasterCard. However, many only accept cryptocurrencies.
Why should you choose a crypto casino?
There are many factors to consider when choosing an online casino. Verification and payment options are just one of them, of course, but it’s also worth checking out bonus offers, promotions, mobile compatibility, licensing, and other things.
Bitcoin casinos offer a lot of advantages for contemporary gamblers, which is why the trend is slowly but surely gaining popularity. Privacy is high on the list as cryptocurrency transactions offer both casino owners and gamblers a higher level of security.
Cryptocurrency deposits and withdrawals are instant, so you don’t have to wait to access your winning money, as is the case with regular payment processors such as banks or credit card companies. In countries where online gambling is illegal or a gray area, many players resort to cryptocurrency because the deposit method is not processed by third parties. The only downside to cryptocurrencies is their volatility. Due to price fluctuations, the exchange rate may be in your favor one day and against you the next day.
Bitcoin vs. Altcoins
As you may already know, Bitcoin is just one of many digital currencies on the market, and it is also arguably the most popular. However, there are currently over 2,350 different cryptocurrencies to choose from and choosing the right currency can be difficult. Many cryptocurrency-oriented casinos strive to offer many alternatives to Bitcoin.
Ease of use & accessibility
A big advantage of casinos with digital currency compared to conventional online casinos that accept bank transfers is that payments are quicker and less complicated. Most crypto casinos also make sure that their website is optimized as much as possible in order to make it user-friendly for the players and to make it easier to navigate on smartphones and tablets as well.
Is it worth using crypto casinos?
Given the way things have developed and will develop recently, we anticipate that crypto casinos will become increasingly popular and more and more players will turn to cryptocurrencies to conduct online transactions. They certainly offer several advantages over traditional online casinos and the trend for cryptocurrencies is showing no signs of slowing anytime soon. If you are currently thinking about switching to crypto casinos, this is definitely not a wrong decision.
The breakthrough technology of cryptocurrencies has definitely created an innovative way to take online gaming to a new level, offering players the opportunity to make bigger and more regular wins when playing for real money. The main priority when playing should also be enjoying the game and making some nice wins, right?
Advantages of Cryptos in Casinos
The nice thing about owning crypto coins is that it is a digital and decentralized currency that has not yet been linked to the financial market. In addition, coins are now available on many wallets.
currency-exchange If you don’t necessarily want to trade Bitcoin, Ethereum and other currencies, you can simply buy and hold them. Registration with providers such as Bitpanda, Binance and Coinbase is also free. The following aspects speak in favor of crypto payments in online casinos:
- Payments are largely anonymous
- Maximum security with decentralized wallets (cold wallets)
- Transactions are completed in real time
- There are almost no transaction fees in the casino
- Protection of personal information during the payment process
- An internet connection is not absolutely necessary
- Money or coins are often insured
In addition to the advantages mentioned, it is above all the mostly higher deposit and withdrawal limits that prompt players to transact with Cryptos.
Regulation of cryptocurrency payments
For the regulation of the cryptocurrency games of chance in an online casino, the providers have acquired various licenses from different countries.
Curacao
The regulatory authority in Curacao casinos is considered trustworthy and players can be sure of real money that are equipped with such a license. Because in the event of difficulties and problems, EU law can be invoked at any time. Curacao is part of the Netherlands – Dutch Antilles.
Kahnawake
The Kahnawake online gambling license has a solid reputation and the Gaming Commission is known not to condone fair play violations, underage gamblers or criminal activity.
Malta
The Maltese government has taken steps to integrate crypto into the market. The Mediterranean island was the first country to put in place a comprehensive legal framework for cryptocurrencies, blockchain and digital assets. Nicknamed “The Blockchain Island”, Malta is also home to blockchain startups, crypto exchanges and several MGA Casinos that offer transactions in cryptocurrencies.
Costa Rica
The Central American country Costa Rica does not offer an online gambling license in this sense, but companies are allowed to register online crypto gambling. In terms of cryptocurrency, the Costa Rican government supports the development of this industry.
Conclusion
The advantages of Bitcoin & Co outweigh. Nowadays, players who deal with payment methods and currencies in online casinos also know this. The trend of cryptocurrencies is unbroken, they are accepted worldwide and the days of a niche market are over.
Taking all the advantages into account, a further significant increase in the number of crypto payments, especially in the gaming sector, can therefore be expected. The integration of cryptocurrencies on any gambling platform is not an option, it is a necessity.
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