If you are looking to use cryptocurrency to play at an online casino, you are not alone. Cryptocurrency casinos offer anonymity and maximum security for your deposits and withdrawals. Here’s a list of what you need to do to use cryptocurrency at an online casino:
- Ideally, you should open a cryptocurrency wallet. A wallet is required to hold digital coins such as Bitcoin, Ethereum, Litecoin, Dogecoin and Bitcoin Cash, to name a few. Register with a valid email address and set a strong password
- Once your wallet is set up, you can buy coins from exchange sites or purchase directly with your credit/debit card
- You can choose one of our reviewed online casinos that offer cryptocurrencies as a payment method
- Register on the online platform with the necessary data and a valid email address that you have access to. Most cryptocurrency casinos do not mandate KYC for their users, so registration is quick and easy.
- Make a bitcoin deposit on the platform and check the transaction rates and network fees. Also make sure addresses are correct to avoid double deposits.
- Once your deposit is complete, choose the games you would like to play. You can choose from popular lists of bitcoin games or games you’ve tried in demo versions.
- Pay attention to the exchange rates and BTC equivalents so you don’t bet more than the required bet on a particular game.
The most popular Blockchain casino games
Among the many popular casino games on the blockchain are:
- Roulette: This is a small wheel that includes red and black compartments. You choose a color and number and then roll a ball on the wheel as it spins.
- Blackjack: This is a casino card game that combines both luck and skill.
- Poker: Poker is similar to blackjack in that it is a card game. The difference is that you can bet on whose hands have the best set of cards.
- Slots: These are fruit machines that give the user a system of chances and combinations when trying to spin a slot machine.
- Betting: Betting is a typical game that users play to predict a particular outcome of a game activity or yet to play.
Bitcoin Online Gambling Sites
Since the advent of cryptocurrencies in 2009, many gambling sites and online casinos have been established and licensed to keep up with the demand of cryptocurrency players.
Bitcoin online casinos offer anonymity to their users and players. The casinos also allow these users to set up gambling accounts and play Bitcoin anywhere in the world without regulation.
Users have full control over their deposits and withdrawals, which are fast, easy and convenient. Gambling in Bitcoin is also secure, as Blockchain technology prevents manipulation of transaction records. All transactions are transparent to the public.
Online casinos are eager to implement this technology on their platforms. Many Bitcoin websites offer BTC, ETH, LTC, BNB and DOGE payments. These outstanding features will appeal to users who want to gamble with the right cryptocurrencies.
Advantages of gambling with cryptocurrencies
Unlike traditional gambling, cryptocurrency gambling has the following advantages:
- Better transaction speeds: Blockchain technology makes cryptocurrency deposits and withdrawals faster than bank transfers. You can process your deposits and withdrawals in your account within minutes.
- Provides anonymity: Many traditional gambling sites require you to fill out a KYC, providing legal documents to verify your account. In cryptocurrency gambling, your privacy is safe to enjoy your gambling activities without privacy concerns.
- Amazing Rewards: rewards are fixed when using fiat currency and cannot increase in value. On the other hand, your bitcoin bonuses and offers in cryptocurrency gambling can increase in value based on market conditions.
- Increased limits: Unlike traditional gambling, there are no limits on withdrawing much of your earnings in cryptocurrency. Also, withdrawals are faster and processed in a short period of time.
- Decentralization: Cryptocurrency is not tied to governments or banks and financial institutions. So you have full control over your money.
Cryptocurrency gambling without GEO
Gambling laws vary from country to country. Many bitcoin casino sites ban or stop users with certain I.P. addresses from using their platforms by enacting these laws. This situation affects both casino companies and users who like to gamble and take turns at massive wealth. Let’s look at an example.
If a bitcoin casino operates in Canada, Canadian gambling laws could mean that casinos could face sanctions if they allow Canadian users to use their online betting platform. Therefore, for this bitcoin casino to operate without interference from such laws, they will have to “geo-block” Canadian users and players from accessing their platforms. However, if Australian gambling laws allow them to operate legally, the casino will give Australian users access to their sites.
The research firm, Bitedge, has provided statistics revealing how countries and users by region are losing access to online gambling services. Many European countries and users, especially in the UK, do not have access to quality bitcoin casinos due to consumption taxes. Many Americans also miss out on the best cryptocurrency and bitcoin casinos because of the UIGEA (Unlawful Internet Gambling Enforcement Act) made in 2006.
There are viable solutions. For example, cryptocurrency casinos can overcome barriers to providing anonymity and security for users in geographically restricted countries. Also, reliable VPN services are used to manually change the I.P. address in a geographically restricted country to I.P.’s that offer no restrictions.
Best bitcoin wallet for online gaming
A physical wallet keeps your money intact. This wallet also holds your cards, personal information and receipts for some purchases. When you need to make a transaction, the wallet is ready to make the payment.
This scenario also applies to the bitcoin wallet. It holds digital assets that you have purchased via debit/credit cards, from cryptocurrency exchanges/markets or as a gift. You also have full access to this wallet.
When you deal with cryptocurrency casinos, you need a bitcoin wallet over which you have absolute control. The reason for this is partly due to strict laws and regulations on cryptocurrency gambling activities. For example, Coinbase is a well-known bitcoin wallet in the United States. However, due to gambling laws that prohibit US citizens from accessing popular online casinos and gambling sites. As a result, users risk losing their Coinbase accounts if they try to link their wallets to online gambling platforms and bitcoin casinos.
There are different categories of wallets that are best for online gambling:
Desktop or Web Wallets
Wallets in the desktop category are in the form of browser extensions that allow you to have a web wallet with unique encrypted private keys. To access your private keys, you will need to enter a recovery phrase (this phrase is available when registering a new wallet).
The best recommendation for desktop-based wallets is Electrum. The site is designed for advanced bitcoin users. Electrum offers proof-checking, add-ons, multi-sig and cold storage features. There are ciphers for the private key, which can be difficult to access or retrieve, except when you provide your secret phrase (secret phrases are provided when you register on the Electrum site).
Another desktop-based platform that is best for online gambling is Metamask. Metamask is still an excellent choice for cryptocurrency activities, including cryptocurrency gambling and betting. However, the disadvantage is that Metamask is based on the Ethereum blockchain. You can’t use it at online casinos and gambling sites that prefer to gamble with Bitcoin.
Mobile wallets
Mobile wallets seem to be outperforming other wallets because almost all cell phones have cameras and an Internet connection, allowing users to scan Q.R. codes when sending or receiving cryptocurrencies from their cell phones to gambling sites.
The top recommendation of mobile wallets for online gambling is Blockstream Green. Android and IOS users are perfectly safe in using this mobile app to deposit Bitcoin, Ethereum and other preferred cryptocurrencies to preferred gambling sites.
Its setup is hassle-free; you get your unique private keys that give you access to your wallet. In addition, Blockstream Green offers optional features such as 2 Factor Authentication (2FA) and multi-sig with hardware wallets such as Trezor and Ledger.
The BRD wallet is another excellent choice for mobile users who want to transfer cryptocurrencies without interference. Another exciting feature is that you can also buy BTC or ETH directly from the platform using debit/credit cards. BRD Wallet offers complete anonymity and control over your funds in a secure bitcoin network.
Bitcoin casino strategies
Online bitcoin gambling can win you a lot of money if you apply the right strategies when playing. Crypto and gambling are related in that they offer an excellent risk to reward structure. Here are the best bitcoin casino strategies you can apply to win more:
- Choose a good online casino: Casinos can be the difference between winning and losing. Casinos have different rules and structures for different games. Make sure to check their terms of service before you start playing with your real money in their games.
- Play fair bitcoin games: Blockchain technology is transparent; what you put in is what you get. Users take tests from such games to access their win rates, losing streaks and Risk to Reward management.
- Never chase losses: When you’re at a loss, take a break, log off the platform and come back another time to play. Chasing losses and increasing stakes has a psychological effect and you could lose all your money.
- Use proven strategies in skill-based games: If you are a player who loves to win based on your skills, you can check online for a winning strategy for a particular game. Be sure to test it in a demo version before you bet real money.
Conclusion: Be specific with your Bitcoin
Bitcoin provides an excellent and fast deposit and withdrawal process through the use of blockchain technology in online casinos and gambling sites. It offers the ability to send money to friends and family limited by geography in fiat payments. Bitcoin also provides anonymity for its users to transfer their earnings from gambling sites to their wallets.
However, it is important to remember that bitcoin has its drawbacks. It can be highly volatile, as its price is not stable. This price volatility also increases the cost of network fees. In addition, payments made via blockchain cannot be reversed once bets or payments are confirmed. So be sure to double-check the amount of BTC before confirming.
If you choose a bitcoin casino, be sure to read their FAQ and terms of use sections regarding cryptocurrency deposits, withdrawals and gambling.