Have you seen the massive growth of cryptocurrencies in recent years? If not, where have you been? Cryptos like BitCoin have taken the international investment and currency markets by storm in the last few years. You might have thought they were a fad, but they’re here to stay.
While the growth in cryptos like BitCoin has been extremely volatile, they are now stabilizing somewhat. Although this might mean you’ve missed the chance to make huge gains on your investment, it also means it’s a more stable currency to actually use for standard purchases. What that means for you is that there are more options to use BitCoin and other cryptos to buy things online instead of using standard currencies like dollars. If you’d like to know a bit more about cryptos and how to use them to make payments to online casinos, then you’re in the right place.
In this article, we’re going to look in a bit more detail at the basics of cryptocurrencies as well as how to use them with online casinos to try and win big.
What is a cryptocurrency?
A crypto is a deregulated and encrypted currency based on blockchain technology. These currencies are independent from national currencies and are not backed by Governments. This has lead to some places seeing them as a threat, and banning their sale and use. However, other locations have opened up and allowed the trade and use of cryptocurrencies for regular transactions.
The most famous cryptocurrency is BitCoin, which you’ve probably already heard of. One coin rose in price from a few cents to over $10,000 over the course of a few years. But there are thousands of other cryptocurrencies out there, including ones you can still pick up for cents each. If you’re looking to fund an online casino account you’ll probably be looking at using BitCoin.
How do you buy and store cryptocurrencies?
This is where things get a little bit complicated. You store your cryptos in a virtual wallet. Each coin normally has its own wallet. You can buy cryptocurrencies directly from other people. But you can also use online trading platforms to both buy and store coins like BitCoin. You can also store your BitCoins offline to keep them safe from hackers (which is a growing issue with cryptos).
Why would you want to use BitCoin and other cryptos to play online casinos?
Many see BitCoin as a flexible alternative to regular payments that aren’t tracked by banks or Governments. In other words, they’re completely anonymous and untraceable. That means you can play casino games in locations where online gambling might be blocked. When used with a VPN, you could enjoy all the fun of your favourite casino games like blackjack, slots and more whilst remaining completely anonymous. YOur ISP won’t know, your Government won’t know and your banks won’t know.
However, you still need to be careful. While some online casinos accept BitCoin for payment, they still require identification to prove your age and eligibility for online casinos. These casinos don’t offer fully anonymous play but they do offer the convenience of an additional payment method like BitCoin.
If you’re wondering what the point of using BitCoin for casino payments is when you don’t get the benefits of anonymity, there are still some. Firstly, BitCoin payments are super-fast, unlike waiting days with some credit card transactions. They also don’t have any fees so you can transfer money much more cheaply than when using a credit card or some other payment options. Whether you want to use BitCoins and other cryptos to stay anonymous or if you simply want to make your payments faster and more affordable, you should be able to find the right casino for you.
How can you use cryptocurrencies with online casinos?
Once you’ve found a casino that accepts cryptocurrencies, you’ll then need to link your BitCoin wallet with the online casino (or other crypto wallet if they accept it). The BitCoin exchange rate fluctuates a lot, so a real-time calculation of the costs should be presented. You then simply make the payment as you would with any other type of payment.
Can you use crypto with online casino bonuses?
Yes! If you find a casino that offers deposit bonuses to help you get started, you should be able to use cryptocurrencies to start playing and winning. Online casino bonuses have been popular for years and they’re a great way to start playing and winning with additional funds. Make sure you’ve checked the terms and wagering requirements, as some bonuses will require you to play on specific games like slots. Even so, if you enjoy slots, then these bonuses can be a great way to get started and hopefully on your way to some big wins.
What are some casinos that accept cryptocurrencies?
While cryptocurrencies are still in their early days, more and more casinos are starting to accept them as payments, especially BitCoins. Casinos that accept BitCoin include Captain Cooks Casino, Golden Tiger Casino, Slots Magic, UK Casino Club and many more.
What will you need to use cryptos on online casinos?
You’ll need some cryptocurrencies like BitCoin stored in a wallet. Depending on the casino, you might also need some identification and proof of address. You will also obviously need a computer or compatible device (like a phone or a tablet) as well as an internet connection.
How can you withdraw your money?
You should be able to withdraw as quickly and easily as you deposited and back to your BitCoin wallet. Be aware that most casinos will only allow you to withdraw back to the same payment method you deposited with. So you won’t be able to deposit with BitCoin and then withdraw to a dollar account, or vice versa.
Is it safe to use cryptos on online casinos?
As long as you use a secure wallet and only deposit to a reputable casino, it should be safe. You won’t have the security of insurance or being able to charge back on your credit card, or any fraud protection your bank might offer, but most people use cryptos with online casinos without any trouble. Just be careful and you should be fine.
Now you can start playing and winning with a number of different online casinos that accept cryptocurrencies.