Benefits Of Crypto Gambling Sites

Cryptocurrency or blockchain technology is undoubtedly one of the most significant innovations recently. When Bitcoin launched in 2009, it was considered an unrealistic concept. But that's quickly changing these days as many players continue to flock to crypto gambling sites to catch the action.

If you’re entirely new to cryptocurrency gambling, you might conclude that crypto gambling offers nothing special. The truth is that there are lots of benefits you stand to enjoy. So, without wasting time, let's discuss why you should start gambling with digital coins like Bitcoin, Bitcoin Cash, and Litecoin.

Anonymity

The first benefit of crypto gambling sites on the list is Anonymity. If you don't want authorities, banks, or anyone else to track your gambling activities, consider betting with cryptocurrencies. All your cryptocurrency payments are virtually untraceable, thanks to decentralized blockchain technology. Transacting with cryptocurrencies at your favorite online casino doesn't need approval from the snooping banks or credit card service providers. Just copy the address, and the casino will process payments instantly.

But the fact that cryptocurrencies support direct peer-to-peer transactions shouldn't be the green light to use them for criminal activities. Authorities know that players can use this freedom to commit fraudulent activities like money laundering. In return, they'll use all means possible to trace illicit cryptocurrency payments. Remember, all your crypto payments are recorded on the public blockchain. So, cryptocurrencies aren't fully anonymous when it comes to forensic audits.

Security

As online payments continue to increase, so do cyber-attacks. Recently, people have mysteriously lost funds on e-wallets and credit cards. But with cryptocurrencies, your transactions at the online casino are safe and secure. As said before, all crypto payments are recorded on the blockchain, which no one can erase. However, even blockchain has its vulnerabilities that attackers can exploit. These attackers can design viruses that can steal digital coins from your wallet.

But fortunately, you can protect your wallet in multiple ways. For example, use a multi-signature wallet, which requires at least two keys to authorize a transaction. Another effective way is to use a portable offline wallet, which is bootable via USB or CD. In addition, you can protect your crypto wallet using a strong password that contains numbers, letters, and punctuation marks. Always ensure that the password has at least 16 unique characters. And another thing - you can backup your wallet to protect it against losing the primary key and other basic human mistakes.

Provably Fair

Fairness and transparency are important considerations when choosing a gambling site. Provably Fair is a new crypto-technology that checks the gambling site's history for fairness and transparency. Here is how it works: the casino will produce a seed number which is sent to the player's browser. Once this happens, Provably Fair will encrypt your bets to verify if the game is fair. This algorithm can be a little complicated, but it's worth a try.

But don't let your guard down just yet. Some rogue crypto gambling sites can still temper with Provably Fair games, making you lose more often. These casinos know it will take tech-savvy players to study and understand how the game system works. Therefore, checking that the casino and the games are legit and fair is vital. You'll learn more about choosing the most reliable crypto gambling sites later in this post.

Quick Deposits & Withdrawals With Altcoins

When it comes to deposits and withdrawals, there’s no payment method that can compete with cryptocurrencies. Unlike traditional currencies, digital coin payments don't need authorization from banks and financial institutions. That's because all currencies are saved electronically in the blockchain, which is not private property. Players only need a payment address to process transactions.

Think of it like this: credit card or bank wire payments will need authorization from the bank to be processed. Apart from being time-consuming, this can also mean higher transaction costs at the gambling site. On the other hand, a payment that doesn't need bank authorization is quick, easy, and free. But always be sure to read the payment terms to ascertain the transaction duration for crypto payments.

Fewer Restrictions

Although online gambling is prevalent, some countries or states are still lukewarm about this activity. A good example is the Islamic countries in Asia, which have a blanket ban on gambling for religious reasons. These countries have harsh penalties for anyone participating in gambling. Across the Atlantic in the US, you can participate in legal online gambling in at least 18 states, which is less than half the number.

But does it mean you don't have to gamble if you live in one of these areas? Not really! Many crypto gambling sites accept players from restricted regions, thanks to anonymity. Sometimes, you don't even need to create a gambling account to play. But even with that, ensure the gambling site is safe and reliable. You shouldn’t give away your crypto coins just like that, right?

How To Start Off With A Crypto Gambling Site

Getting started at a crypto-gambling site might sound intimidating on paper. But it's nothing complex. It's pretty much the same as gambling using traditional currencies. Bettors must only ensure they're gambling at a safe and secure site.

In this section, you'll learn everything about crypto gambling, from choosing a gambling site and wallet to buying cryptocurrency and depositing at the website. Below are the steps:

Pick A Crypto Gambling Site From Our List

Although this page has already done the donkey work for you, follow these criteria to choose the right crypto gambling site:

Does it support your geolocation?

When choosing a gambling site, you must first ensure that it accepts players from your jurisdiction. Many crypto gambling sites accept bettors from the US and other regions without restrictions. But most of them will not accept your sign-up if the service is unavailable in your area. But don't fret if gambling is illegal in your geolocation because the iGaming industry is filled with offshore sites that accept players from all regions.

So, how do you ascertain that a gambling site is available in your region? Most times, regulated crypto gambling sites will clearly indicate the eligible players on the terms and conditions page. Here, you'll also learn other things like payment terms, account closures, bonuses, and more. So, don't be too lazy to read the T & C page.

But let's admit that reading the cluttered and complicated terms and conditions isn't for everyone. If you find that to be too much work, you're welcome to choose a reliable cryptocurrency gambling site from our unbiased reviews. Experts have thoroughly tested these casinos to ensure they meet all reliability requirements before listing them on this page. And, of course, you can sign up or contact the site's support to get first-hand information.

Is it a trustworthy site?

Trust is something that crypto gambling sites shouldn't breach. Don't take any chances because you'll be playing using real money. To begin with, make sure that the casino or sportsbook has a good reputation among players and review websites. After identifying a gambling site, perform rigorous background checks to ascertain that it honors its terms and conditions. You'll be surprised that some gambling sites have pending legal suits.

The next step is to confirm if the website uses SSL encryption to protect player data and funds. SSL (Secure Sockets Layer) is an Internet security protocol for applications like browsers, emails, messaging apps, and VoIP apps. In other words, it ensures that the data shared between you and the casino is private. Determining if a gambling site is SSL encrypted is easy. Simply check if the gambling site's URL has a "lock" sign. And if there's any, click it to view the SSL certificate. In addition, the link must start with HTTPS.

Once the site shows proof of SSL certification, find out if a legal body licenses it. In the US, reliable and trustworthy crypto gambling sites are licensed in individual states like New York, Pennsylvania, New Jersey, Arizona, and more. But if it's an offshore gambling site, it should be licensed in Curacao, Gibraltar, Malta, Sweden, Canada, or the UK. Check also if independent bodies like iTech Labs, Gaming Associates, eCOGRA, and more have tested and approved the games.

Does it support crypto deposits and withdrawals?

Up to this point, you should narrow down on the perfect crypto gambling site to join. But before you make a choice, confirm if the gaming website supports crypto deposits and withdrawals or end-to-end transactions. Assuming you're purely a crypto gambler, you'll want to join a site that supports deposits and payouts. The thing is that some crypto gambling sites can allow deposits only and ask players to use a different payment method to withdraw.

Always read the payment terms to ascertain that the gambling site supports deposits and withdrawals via digital cons. If it's a licensed and regulated casino, you'll be allowed to request a payout using the initial deposit method. But it's always good to be sure to avoid getting stuck with your cryptocurrencies at the betting site.

What's the quality of customer service?

Support is an all-important consideration when choosing the best crypto gambling sites. That's because you'll often have queries to ask the Bitcoin gambling site. Many gamblers contact support to ask about delayed payouts, bonus codes, VIP enrolment, KYC requirements, and more.

For this reason, joining a gambling site that guarantees highly responsive 24/7 support is vital. The support should be available on live chat, email, phone, or social media apps like Twitter and Facebook Messenger. In this era of technology and Artificial Intelligence, always use live chat support. Just click the chat icon, and an agent will be readily available to listen to you. Note that email replies can take 24 to 48 hours. So, live chat any time!

But how do you confirm the quality of the casino support? For starters, visit the casino and check the available customer support channels under the "Support" or "Help" page. Yes, that includes a detailed FAQ section with all the answers to basic questions regarding deposits, withdrawals, bonuses, etc. If you're still unsure, read reviews about the website on Google and other search engines. Most online gamblers will be glad to share a thing or two about the support team's responsiveness at the gambling website. And above all, send them a query to gauge their response time.

What are the available banking methods?

Surprisingly, over 20,000 digital coins are currently in circulation. That's why you shouldn't just sign up on any crypto gambling site without first confirming if it supports your digital currency. The most popular cryptocurrency options to look out for include Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Dether, Dogecoin, and more.

But you'll not always use cryptocurrency to gamble, will you? If you're a Bitcoin miner, you should know that the cryptocurrency market is currently very volatile. For this reason, browse the payments page to view the available cryptocurrency alternatives. The best crypto gambling sites support payments via credit/debit cards, bank wire, checks, Apple Pay, cash, and e-wallets. Electronic wallets like PayPal, Skrill, and Neteller are the most recommended because deposits and withdrawals are instant.

Does the site support quick withdrawals?

After finding a cryptocurrency gambling site that accepts your favorite digital coin, go ahead and learn about the transaction period. The best cryptocurrency gambling site shouldn't keep players waiting for days before processing their winnings. Remember that a cryptocurrency is a decentralized form of payment. So, any betting site that takes days to process a crypto payout is likely a scam. If possible, you should get your winnings instantly or within 24 hours.

But because there's no one-size-fits-all regarding payment durations, it's essential to read the gambling site's "Payments" page to confirm if it supports instant or quick crypto withdrawals. In addition, read reviews from former and current cryptocurrency players at the gaming site. This is the only reliable way to determine if the gambling site delays or processes payments instantly. But don't treat everything as the gospel truth because competitors can pay people to review the site negatively.

What is the withdrawal limit?

Whether you're a seasoned or new gambler, always confirm the withdrawal limits at the gambling site before signing up. This is basically the maximum or minimum amount players can withdraw per session, day, week, or month. The thing is that some players, especially high rollers, can have issues with low payout limitations. It can be very annoying to wait until the following week for your subsequent withdrawal.

But like the transaction period, nothing is cast in stone regarding withdrawal limits in the online gambling industry. The maximum/minimum amount that players can withdraw solely depends on the casino. But the great news is that you can increase your payout limits by becoming a VIP player. This prestigious 'social status' also comes with other perks like a personal account manager, instant payout, and frequent tournament invitations. However, you'll need to deposit and withdraw huge sums at the casino to qualify for VIP elevation.

Does the site offer cryptocurrency bonuses?

Because cryptocurrency payments are quick and cost-effective, the gambling site would want to encourage more players to use this channel. Most times, new sign-ups are welcomed with a generous offer if they deposit via Bitcoin or other available cryptocurrencies. For example, you can get a $500 bonus in BTC after successfully creating an account. The idea is to help new gamers settle in as quickly as possible.

But all cryptocurrency bonuses are not the same. Although the size matters, there are other critical issues to consider. Always look at the wagering requirement and compare it with the package size. A higher playthrough requirement means you'll have to bet with more digital coins to withdraw the bonus. Other considerations include the maximum bet limit, bonus duration, and eligible games. So, carefully read and understand the cryptocurrency bonus terms.

Pick A Crypto Wallet (Custodial vs. Non-custodial)

After finding a reliable cryptocurrency gambling site, proceed to choose an equally reliable crypto wallet. A cryptocurrency wallet is an online service or device where people save their private keys for sharing digital coins. In short, it's a medium for sending and receiving crypto transactions.

There are two distinct crypto wallets to choose from – custodial and non-custodial. The main difference between these crypto wallets is who keeps the private keys. The private key will remain with the wallet provider if you choose a custodial wallet. On the other hand, non-custodial users get to keep the private keys themselves. So, choose the latter if you want some peace of mind. Just don't misplace the keys, or you will lose everything.

How To Buy Cryptocurrency

Purchasing digital coins can sound intimidating if you're a beginner in the world of cryptocurrencies. Thankfully, it's nothing complex. Here's how it goes; you'll need to create an exchange service account at services like Binance, Coinbase, Gemini, and FTX. These services are simply for buying and selling cryptocurrencies.

Besides buying and selling cryptocurrencies on exchange services, you can also purchase altcoins on e-wallets. A good example is PayPal which allows you to buy altcoins using your PayPal balance or a credit/debit card. You can directly purchase Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.

How To Exchange Crypto Coins

After finding a crypto broker or exchange, you'll need to transfer the digital coins to your wallet before depositing them at the casino. Most crypto exchanges allow their customers to purchase digital coins using fiat currencies like USD, EUR, GBP, AUD, CAD, and more. Typically, you'll use your MasterCard or Visa card to purchase the coins.

The broker or exchange will provide cryptocurrency storage service if you're lucky. But if there's none, you can transfer crypto from your blockchain exchange to a wallet with a single click. To do that, just open your exchange balance and enter the destination address. Now enter the amount and send. It's that easy!

How To Deposit Crypto Coins

Depositing crypto coins to your gambling account is a relatively straightforward process. First and foremost, head over to your online casino account and open the cashier page. This is usually the "Payments" tab in most casinos. After that, click "Deposit" and choose the cryptocurrency you want to use.

Next up, copy the blockchain address of your selected digital coin. Now head to your cryptocurrency wallet, launch a transfer, and enter the amount to deposit. Lastly, paste the address and send the amount. The payment should reflect on your casino account instantly.

How To Withdraw Your Winnings

Withdrawing winnings from crypto gambling sites is another quick and easy process. Assuming you're already eligible to withdraw funds after passing the KYC (Know Your Customer) process, head to your crypto wallet and copy the address.

Now head back to the gambling site and open the cashier page before clicking "Withdraw." Enter the withdrawal amount and paste the address you had copied on your wallet. Confirm the transaction, and you'll receive the funds within the stipulated time. Note that most crypto transfers cannot be canceled or reversed.

Crypto Gambling FAQ

Is crypto gambling legal?

Generally, there are no specific laws regarding cryptocurrency gambling. Therefore, the legality of crypto gambling sites largely depends on the gaming laws in your country or state. For example, almost half of the states in the US support online gambling, whether using digital coins or fiat currencies. The same applies to most European countries, where the EU recognizes BTC and other digital coin assets.

Is crypto gambling anonymous?

One of the appealing sides of crypto gambling sites is anonymity. For starters, you don't need to provide your financial information to the gambling website to process crypto payouts. You only need to select the cryptocurrency you want to use and paste the address. This means banks and authorities can't trace your gambling activities. But as said at the beginning, all cryptocurrency transactions are traceable on the public blockchain.

How do I deposit crypto?

Depositing crypto at a gambling site is a fast and easy process. You'll begin by adding digital coins to your crypto wallet from an exchange or brokerage service. Don't worry; using a crypto wallet feels just like using your PayPal or Skrill account. Once you have some coins in your crypto wallet, head to the casino or sportsbook and open the Deposits page under the cashier section. Here, choose the digital currency to deposit and copy the address to complete the transaction.

How do I get cryptocurrencies?

You can buy cryptocurrencies from centralized spot exchanges, digital wallet providers, and e-wallets like PayPal and Skrill. It's also possible to buy cryptocurrencies face-to-face using cash. However, you'll have to comply with the KYC requirements before purchasing cryptocurrencies at an exchange service.

How old do you have to be to buy crypto?

Technically, there is no age retraction for mining or purchasing digital coins. But don't get overly excited because crypto exchange platforms like PayPal and Coinbase have minimum age restrictions. The minimum age requirement to purchase digital coins like Bitcoin, Bitcoin Cash, and Litecoin is typically 18 years. Most brokerage and exchange services will request customers to prove their ID before any transaction. So, underage crypto transactions are nearly impossible.

How do I withdraw Bitcoin from a casino?

First, head to the Bitcoin wallet and copy the wallet address. With that done and dusted, head to the casino and open the withdrawals page. Next, choose Bitcoin and enter the amount you wish to withdraw before pasting the BTC wallet address in the text field. Confirm the transaction, then wait for the coins to hit your wallet in minutes or hours, depending on the casino policy.

Do Bitcoin casinos need a license?

The emerging popularity and wide acceptance of Bitcoin mean that authorities worldwide are taking note. But interestingly, multiple gambling jurisdictions allow crypto gambling sites to operate without a license. While this might sound appealing on paper, it involves greater risk since there is no supervision. The casino can decide to disappear overnight with all your crypto deposits. So, to avoid falling victim to scam casinos, joining a crypto casino with a conventional license is non-negotiable. Good examples are casinos licensed by Curacao eGaming and Malta Gaming Authority (MGA).

Are Bitcoin gambling sites safe?

Generally speaking, Bitcoin gambling sites are safe and secure as long as they are licensed by a reputable body. Proof of licensing is a sure sign that the casino is regulated and adheres to all the gambling laws set out by the licensing body. Besides licensing, a Bitcoin casino must have an SSL certificate to prevent any risks associated with hackers and miners.