If you’ve been part of the online casino world for a while, you’ve probably come across several casinos that accept crypto. Bitcoin, Ethereum, Tether, Litecoin, Dogecoin, and more are all the rage for online casinos in 2022.
If you haven’t dabbled with cryptocurrency yet and want to use it for online gambling, we’ve got you covered. Here’s everything you need to know before you get started with using crypto for online casinos.
But before we get into that, you should know an important distinction about online casinos that accept cryptocurrency.
There are several crypto casinos available on the internet. And integrating crypto with online gambling has happened faster than regulators can keep up with.
There are no laws that regulate cryptocurrency in online casinos. That’s why some online crypto casinos are not always secure, and you’re at risk of losing money.
Always make sure to read reviews at exclusive online casino bonuses. Now that you know that, let’s dive right in.
Choosing the Right Online Crypto Casino
Online casinos support the use of crypto in different ways. In online casinos, you can’t place bets with cryptocurrency. You need to use traditional payment methods for that, but you can withdraw in crypto.
Some others allow you to place bets with Bitcoin and other cryptocurrencies along with traditional payment methods. And some online casinos support cryptocurrency only. Make sure you go through the policies of the online casino you choose.
Here’s a checklist of other important information you should know before deciding on an online crypto casino.
- The Selection and Fairness of Games
An online casino can soon get boring if it doesn’t have a large selection of unique games. The games also need to be high-quality as well.
The most popular online casinos offer a wide selection of games, including slots, table games, live dealers, scratch cards, specialty games, progressive jackpot games, video poker, etc.
Also, the games need to be provably fair. Otherwise, you will keep losing money to the gambling site.
Provably fair online casinos often publicly display the code of their games. This allows independent testers to find out whether or not the game gives an unfair advantage to the online casinos.
The best online casinos also partner up with reputable software gaming companies like Microgaming, Net Entertainment, etc.
- Bonuses and Rewards
To attract a larger audience, online casinos offer several bonuses, rewards, and promotions.
At some of these sites, you don’t need to play for a long time to make a good amount of money. For most fair online casinos, you also don’t need to meet high wagering requirements to get bonuses.
- Support and Security
Even though cryptocurrency is a safe payment method, the online casino you choose should take additional steps for your security.
The first thing you need to check is SSL encryption that’s 125-bit or 256-bit. You can find out about this at the bottom of the webpage. You can also take a look at the URL which should have a lock sign on the side.
Apart from that, you should check whether the online casino is licensed. Reputable licensing authorities include Malta Gaming, Curacao eGaming, UK Gaming Authority, etc.
- Mobile Compatibility
Another useful feature to check is whether the online casino has a mobile app. Access to the online casino from both desktop and mobile devices makes the online gambling experience convenient and fun.
How to Set Up the Crypto Payment Method
After you choose the right online crypto casino, you will need some cryptocurrency. If you don’t know how to do that, follow these steps:
- Register for a cryptocurrency digital wallet. There are many options for that online such as Bitcoin.org.
- Buy coins on a crypto trading site. There are many options for this online as well. Alternatively, you can mine your own cryptocurrencies.
- After you have a funded crypto wallet, you can head over to the online crypto casino you chose.
How to Make a Cryptocurrency Deposit at Online Casinos
When you’re ready to start online gambling with crypto, you can make a deposit at an online casino with the currency of your choice.
Just make sure that the online casino supports that cryptocurrency. Almost all crypto casinos will support Bitcoin, so it’s the best option.
Follow these steps to make a deposit at an online casino:
- Go to the online casino site and select the cashier or deposit option.
- Select the cryptocurrency of your choice from the options available.
- The online casino will direct you to another web address for your account.
- Go to your cryptocurrency wallet and enter that address in the tab for sending the cryptocurrency.
- Enter the amount you want to deposit and confirm the transaction.
- The online casino will most likely provide you with credit while the transaction processes.
How to Withdraw Cryptocurrency From an Online Casino
After you play at the online casino and make some cash, you can choose to withdraw in the form of cryptocurrency like Bitcoin.
Here’s how to do that:
- Go to the cashier or withdrawal option on the online casino.
- Choose the cryptocurrency from the options available and enter the amount you want to withdraw.
- Go to your cryptocurrency wallet and copy the wallet address.
- Paste that address into the tab provided by the online casino and check if you need their withdrawal requirements.
- Select withdraw, and the amount will be available in a few hours after the online casino processes the transaction.
Gambling online with crypto has many perks like security, anonymity, and quick transactions. But since this process is not regulated, make sure to check the reputation, fairness, and security offered by the online casino. Always through review sites to avoid losing money and to protect your information.