Is it Better to Gamble with Crypto?

PUBLISHED: 09 Nov 2023 @ 12:40 | Comments (0) |

The introduction of cryptocurrency and blockchain changed the world’s financial landscape. Today, many industries have adopted cryptocurrency as their principal mode of payment. Others are utilizing blockchain technology. That said, the casino industry isn’t left behind. Many gambling platforms today accept crypto for deposits, withdrawals and various transactions within such platforms.

Online gaming enthusiasts are already conversant with regular online casinos. Crypto casinos resemble the ‘normal’ online casinos, giving players digital versions of popular games, such as slot machines. However, the crypto gambling platforms use virtual currencies like Bitcoin, Ethereum, or Cardano to execute operations on the platform.

Relevant sites such as Crypto Gambling have come out to help gamers with practical advice and information regarding gambling with virtual currencies. The platform provides a practical guide to safe gambling with cryptocurrencies. Gamers can learn more about secure crypto deposits, fast withdrawals and provably fair games.

How do Crypto Casinos Work?

Cryptocurrency is digital money. People already use virtual currencies to pay for goods like cars or services, like airline tickets. In crypto gambling sites, players convert fiat money like pounds, dollars, or euros into digital cash versions like Bitcoin to execute their gambling activities.

In some countries, this type of gambling is illegal. A good example is the UK, where the Gambling Commission took a hardline stance against gambling sites that accept cryptocurrency as a direct method of payment.

Before working with virtual currencies, crypto-gambling players should learn about the basics of cryptocurrency. This can help them identify the right platforms to work with. Secondly, cryptocurrency is volatile and its price can change drastically in a short period. Gamers should, therefore, keep an eye on reliable websites that provide real-time crypto prices.

Such platforms also have relevant crypto conversion tools, which gamers can use to convert fiat currencies such as US dollars to a digital currency like Bitcoin. Besides, the sites have the latest crypto news to keep gamers abreast of what’s happening in the industry.

What are the Benefits of Gambling with Crypto?

Many online gamers prefer crypto gambling sites for various reasons. Some players are looking for faster payouts, while others consider bigger bonuses. Others look for game variety, privacy and security. Overall, here are the primary benefits of gambling with crypto.

Improved Safety

Crypto gambling sites provide gamers with a secure and safe platform. Gamers don’t share any of their personal banking information. This helps minimize the chances of fraud and account hacking that are rampant on sites without tight security measures.

More Games

Bitcoin casinos provide gamers with a variety of games, which is way more than what players can find in traditional online casinos. For example, some crypto-gambling sites offer as many as more than 500 games, including daily tournaments and generous prizes.

Fast Payout

Crypto casinos have faster payout speeds. Players generally have their payouts within a maximum of one day. In some sites, it happens even faster, in just a few minutes.

Better Bonuses

Most Bitcoin casinos offer better bonuses, with some offering up to 10 BTC. In some sites, players can claim up to $9000 in crypto deposit bonuses. Such big bonuses are not available in regular online casinos.

Reduced Fees or No Fees

Compared to regular online casinos, Bitcoin gambling sites offer lower fees. In some instances, there are no fees. This allows players to save a lot of money over time because of the reduced fees.

Crypto Gambling Sites that Accept Bitcoin

Many crypto-gambling sites accept Bitcoin. They include the following:

Sportsbooks

Several mainstream online sportsbooks today accept crypto payments. Some of the cryptocurrencies used on these platforms include Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Tether (USDT) and many more.

Crypto betting sites provide better chances due to their reduced overhead costs and bigger bonuses.

Poker Sites

Many poker sites also accept crypto. On platforms such as Ignition, players can play Bitcoin poker tournaments alongside cash games. Players using crypto can also benefit from bigger bonuses.

Online Casinos

Online casinos are the pioneers of crypto gambling. The site is among the first platforms that started to accept crypto deposits and withdrawals. Here, players can enjoy faster payouts, increased security and more games.

Lotteries

These platforms joined the party a bit late, but all the same, they’ve accepted the use of crypto. Today, players have access to many lottery sites where they can purchase tickets with crypto and sign up for the prize draws.

Crash & Dice Sites

These games are the newest to join the crypto gambling bandwagon. Players can use crypto to play their favorite games like Jackbit, Aviator, or Space XY.

Some of the Cryptos Supported on Crypto Gambling Sites

BTC is not the only digital currency supported on crypto betting sites. Some online casinos are willing to accommodate as many as one hundred different cryptocurrencies. Here are the most common cryptocurrencies on crypto betting platforms:

Bitcoin (BTC)

The pioneer cryptocurrency is by far the most popular digital asset used on crypto gambling sites. Many online casinos offer a bigger bonus for using it. The main advantage of using BTC in gambling is its less volatility compared to other newly-launched cryptocurrencies. Players using Bitcoin may not suffer from massive price fluctuations.

Tether (USDT)

Tether is among the stablecoins in the crypto industry. Players today use it for gambling due to its stability because its value is pegged to the value of the US dollar. Many casinos out there allow their players to start playing with as little as five dollars.

Ethereum (ETH)

Nearly all crypto-gambling sites that accept BTC also accept ETH. Ethereum has low transaction fees and players using it can conceal their identity and gamble anonymously. It also offers faster payouts. However, the minimum deposit for ETH is often higher in most online casinos.

Ready to Take a Leap with Crypto Gambling?

Online casino lovers are free to explore the opportunities brought about by crypto. In addition to the cryptocurrencies mentioned, many online casinos accept Litecoin, Bitcoin Cash (BCH) and other digital currencies. These cryptocurrencies offer faster transaction speeds and lower fees.

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