Cryptocurrencies have modernised and revolutionised almost every industry, including investments and savings. Online gambling is no exception, with many major sportsbooks and casinos allowing members to deposit, gamble and withdraw in their favourite tokens, including Bitcoin.
In recent times, we’ve seen a rise in the number of crypto-only casinos across Europe. Users appreciate the lightning-fast transactions, online privacy, and access to a wide range of betting options. Supporters say crypto will soon dominate the online casino gambling market, and the industry appears to be moving in that direction.
Have you ever tried playing at a crypto casino? Perhaps you’ve been waiting for the right time to get involved, but you don’t yet know enough to take the next step. The content team at Gamblr brings you up to speed on the latest article from our popular gambling series. By the end of this article, you’ll be ready to play your favourite games, including roulette and blackjack, funded completely by crypto deposits.
Here’s what’s covered
- What is a crypto casino?
- Why gamble with crypto?
- How to get a wallet and purchase crypto.
- Steps to choosing a reputable crypto casino.
- Security tips, and more.
What is a crypto casino?
Before getting into the thick of our article, I wanted to quickly explain what a cryptocurrency is and how it differs from a regular online casino. It’s also important to mention that crypto betting carries the same risks as gambling with any currency.
You should always bet responsibly, never wager when angry or frustrated, and only stake what you can afford to lose. Creating and sticking to a betting budget is critical to making a profit. It’ll also help protect you against many areas of problem gambling.
A crypto casino is an online gambling platform that allows you to deposit, bet, and withdraw using major tokens, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT) and many others. It’s worth checking that an online casino deals in your preferred crypto token before joining.
Why gamble in crypto?
The arrival of crypto betting may have taken you by surprise, and you may be asking why would anyone choose to bet in Bitcoin? The answer to that question is there are many advantages. I’ll now cover the most obvious advantages in more detail.
Faster transactions
Depositing and withdrawing crypto is usually much quicker than moving cash between your accounts. Although most casinos accept instant deposits in cash and crypto, you’ll see the real difference when requesting your winnings.
The top crypto casinos process payments in seconds, while sending cash to your bank account or e-wallet can take between one and three business days. Most bettors have grown tired of the funds leaving their account instantly, but having to wait days to enjoy their winnings. Crypto deposits and withdrawals help tip the balance back in the player’s favour.
Privacy
Increased privacy is another attraction. At a time when many cash casinos and sportsbooks require you to jump through hoops to prove you can afford to bet, that’s not an issue when dealing in Bitcoin and other popular tokens. You can protect your privacy and still enjoy the thrill of spinning the wheel or targeting a big win.
Global access
Dealing in crypto tokens like ETH allows players to bypass some banking restrictions, streamlining their online gambling experience. Some players also enjoy lower fees when dealing in tokens rather than GBP, EUR, USD, and similar currencies.
Betting in crypto: Getting started
In order to gamble at a crypto casino, you must first open a crypto wallet. Search online and you’ll find two types available: software wallets, including MetaMask, Trust Wallet, and Exodus. The other options are hardware wallets, such as Ledger and Trezor.
Software wallets are user-friendly and available on desktop or mobile.
Hardware wallets offer greater security, but don’t suit frequent transactions or daily use.
Next, you need some crypto in your new wallet. You can buy tokens via a cryptocurrency exchange, such as Binance, Coinbase, Kraken, and Bitstamp. These options allow you to purchase crypto using your debit card, bank transfer and Apple Pay. Once purchased, you can send your chosen tokens to your crypto wallet.
Choose a crypto casino
Just like when dealing with a cash casino or sportsbook, there’s no one-size-fits-all. The crypto casino that’s best for a friend may not suit your needs. It’s important to shop around, explore your options, and find a crypto casino you can trust.
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There are many online crypto casinos available today, all claiming to be the best in the business. But how do you narrow down the field to ensure you’re only betting with the best? Follow my checklist to shorten your research time.
- Look for sites with a valid license and a strong industry reputation.
- Make sure the casino accepts at least one of your preferred crypto tokens.
- A site or app must offer an impressive list of casino games, including the classics.
- You want to see an impressive welcome bonus for new customers.
- Excellent customer care is a non-negotiable, especially when starting out.
When you’ve found your crypto casinos, it’s time to deposit and bet.
- Select your coin.
- Copy and paste the wallet address.
- Confirm the transfer of funds from your wallet to the casino.
- Your balance will update, and you’re now ready to play.
- Visit your favourite casino game and start betting.
Security tips for crypto casino players
Regardless of which crypto casino you join or the token you decide to gamble with, it’s essential to follow simple security measures at all times. Here are our recommendations.
Choose a strong password when creating your account. It should be memorable to you, but not obvious enough that it could be guessed or hacked.
Avoid using public Wi-Fi when depositing funds, withdrawing winnings, or even placing your bets.
Never, under any circumstances, share your private keys or seed phrases.
Stick to online casinos you know and trust or have researched in full before joining.