In recent years, cryptocurrencies have been used more and more. Since its inception in 2008, Bitcoin has become an increasingly popular means of payment for in-person money transfers, internet payments, and online transactions.
Since then, many gambling sites and online casinos have adapted cryptocurrencies and offered them as a means of payment to their customers. Here is how you can use cryptos to play in an online casino in this article.
An increase in the number of crypto casinos
Crypto casinos have been a real discovery since early 2021. We are seeing a real increase in gambling sites that use Bitcoin, Litecoin, Ethereum and other currencies as payment methods.
This can bring huge benefits to the players. Using cryptocurrencies makes financial transactions fast, anonymous and secure. This prevents winnings from being collected from your own credit card or bank account, at the risk of being tracked down by financial control services. After all, gaming income is taxable (even though cryptocurrencies are too).
For crypto casinos, this is an opportunity to expand their audience, favoring players who do not want to disclose their financial transactions. Therefore, it is possible to issue virtual currency to a crypto casino through many major sites in the country.
The only downside for players may be the wide swings in the cryptocurrency exchange rate in the market as it can fall by 20% or more in a day. The recent crisis in the cryptocurrency market bears witness to this: these are not stable values.
You must use this opportunity wisely. It is for people who see cryptocurrencies as a long-term investment rather than a get-rich-quick scheme.
Crypto casinos offer certain advantages
With cryptocurrencies you can buy, bet and trade anonymously and most importantly safely. For these and more reasons, cryptocurrencies are perfect for online casinos. Here are some of the key benefits of playing at a cryptocurrency casino.
Transparency in profit
Players are often unaware of the potential benefits of traditional casinos. In fact, traditional casinos are known to use a variety of sophisticated methods to gain an advantage over players.
Therefore, the vast majority of players ignore these dubious practices. Thus, people keep gambling and lose money, without knowing the reason for their losses.
Crypto casinos eliminate the possibility of casinos gaining an unfair advantage in the game. They use simple and consistent strategies to ensure that players understand the odds.
Lower transaction costs
Transaction and deposit fees at traditional online casinos are often high. In addition, players have to deal with numerous taxes, all of which can have a significant impact on overall winnings.
However, since crypto transaction fees are either non-existent or very low, most fees at crypto casinos are greatly reduced. Since crypto casinos are sometimes not managed by the provider or payment institution, transaction fees are significantly reduced.
In this way, crypto casinos generally have lower withdrawal and deposit fees, making them more attractive to players than traditional casinos.
Identity protection with cryptos
Another advantage of cryptocurrency games: anonymity. Since cryptocurrencies are decentralized and therefore anonymous (or pseudonymous), your personal information remains private during transactions. So if you use cryptocurrencies you can bet anonymously. Then another advantage is that the transactions are safe and easy to perform.
How crypto casinos work
The operating principles of casinos that accept crypto currencies are fairly standard. They offer games of chance and lotteries, jackpots and allow you to withdraw your winnings. The only difference from other online casinos is the use of cryptocurrencies as a means of payment.
In this regard, there are 3 types of such sites:
- Casinos that accept cryptocurrency deposits. This means that players can deposit Bitcoin or Ethereum into the account, but it will be converted into fiat currency.
- Casinos that pay out bonuses in cryptocurrencies. Users make deposits through cards or electronic payment systems and earned funds are transferred to crypto wallets.
- Casinos that allow you to open cryptocurrency accounts. Customers of these institutions can deposit funds into their accounts and withdraw funds in cryptocurrencies. This method avoids unprofitable capital conversions (compared to taxes).
The choice of this or that type of location is simply a matter of player preference.
What can you play in a crypto casino?
Just like in classic casinos, crypto casino sites offer a wide variety of games. Some of these games attract more fans than others. Let’s take a look at some of the most famous casino games.
Play slots in a crypto casino
Crypto slots have been very popular lately. They went from a three-level game to a five-level game with extensive video tools and big bonuses. So you can get up to 100 free spins depending on the site you play on.
Play poker in a crypto casino
You can play a variety of poker games including Texas Hold’em, Multihand and Jacks Better. It’s no surprise that poker has a huge online community, as it has been a popular game for many years.
Play roulette in a crypto casino
It is the most famous live casino game. The rules are simple: you have to guess the color or number of the ball that will fall. Roulette is a popular game in online and land-based casinos. In fact, at least one variant of roulette is offered in every online or land-based casino.
Playing blackjack in a crypto casino
Blackjack is a casino game available in both crypto and traditional casinos. You must be closer to 21 than the dealer. Many experienced blackjack players recommend beginners to get started with crypto blackjack. Indeed, the program used simplifies the difficulty of the game.