What is cryptocurrency
This is digital money that is not tangible. It cannot be withdrawn from a bank or touched. It is purely electronic currency that exists in the digital space, but has quite a lot of popularity and weight. Bitcoin is the first and most popular cryptocurrency. It can be exchanged for other popular currencies or sent almost anywhere in the world without charging additional fees.
Since such virtual money is quite popular, casinos have also decided to embrace the development of cryptocurrency and use it in the gambling industry. For example, there are several Bitcoin casinos where bets are accepted exclusively in this currency.
Advantages of casinos that accept cryptocurrency
Regular users most often highlight the pros of cryptocurrency gambling in their reviews:
- Anonymity is one of Bitcoin’s main perks. While playing, no one will be able to track your transactions and know that it is you who is playing. Now you don’t have to worry about your privacy – you can fully concentrate on the game.
- Secure operation – although your earnings are on the casino website, you can always withdraw them, transfer them to your wallet; or even cash them out.
- Decentralization Principle – cryptocasinos have no ties to banks. This means that unlike regular online casinos no one can seize or freeze your account.
- Small stakes – one Bitcoin is easy to divide into small parts: up to one million Satoshi. Which means that unlike dollar services, with cryptocurrency the user can play with minimal stakes. This way, you can not only make money, but also learn how to play or just relax without the risk of losing large amounts.
- Fast movement of the cryptocurrency – Bitcoin is equally quick to transfer both when playing and when withdrawing earned money from your account.
- Highly technological – by playing at Bitcoin casinos you are learning about new technologies and contributing to their further popularization and development.
- No borders and the ability to play with people from different parts of the world.
- The ability to easily track a transaction – every cryptocurrency transfer is recorded in the blockchain and it is impossible to delete this record (every block in the chain has its unique signature, which is extremely difficult to forge). All this increases the security of working with Bitcoin casinos.
- There is no need to visit a real casino and there are no travel expenses. All you need when working with Bitcoin Casino is your PC, a registered account on the website and a stable internet connection. Accordingly, this way you save your time and energy for other, more important tasks.
- Self-control of users – each crypto-casino client gets an opportunity to control the status of his/her gaming account and track all transactions by himself.
Cryptocurrency can be used to make payments online quickly and securely, without the need for intermediaries. Because of these features, there is a growing number of online casinos that offer betting and winnings in crypto. So, what are the benefits for users and how to choose the most trustworthy casino?
Cryptocurrencies as a form of digital money are used for making international transfers, anonymous and fast online payments, storing savings and even buying real estate. There are many advantages for the gambling industry: decentralised, high market capitalisation and security. Often gambling sites support bitcoin and ether (the world’s most widely used cryptocurrencies).
Benefits of Ethereum
This open-source cryptocurrency is based on blockchain technology and smart contracts. It allows for high-speed payments – faster and more profitable in terms of fees than the bitcoin network. Blockchain protects financial transaction information through encryption, and therefore playing casino games on Ethereum is safe. Pros for players:
- Transactions are securely protected by cryptographic methods. The transfer will reach the recipient without errors.
- The crypto project is based on a decentralised blockchain. That is, it has no regulatory authority. Whereas a bank can freeze or cancel a transfer, this is not the case with Ether.
- The user can transfer funds from any online cryptocurrency wallet. He does not have to register with a new payment system.
- To create a cryptocurrency wallet and buy ETH, there is no need to be verified and to enter your personal data (name, surname, residence address and so on). So, money transactions can be done anonymously.
- Crypto transfers are fast and without delays and minimum transaction amounts are often small. So, you can try your luck at a casino slot machine with a deposit via Ethereum, even with small stakes.
Ether is also a lucrative investment, as its value has every reason to grow further. There is also a risk, as it is an unsecured cryptocurrency. The rate depends on its popularity among the public. However, given the abundance of decentralised services, the high capitalisation, and the modern marketing approach, money invested in this crypto could double over time.
The decentralised management system eliminates third-party interference in the movement of funds in the account and guarantees transaction transparency. Neither the casino platform itself, nor any financial institution will be able to delay or cancel a payout in the event of a win. Ether is a stable currency with low volatility (fluctuating rates of exchange), so the actual value of the funds received will not change for a couple of days or weeks.
How to deposit and play Ethereum
Cryptocurrency gambling resources are divided into two types: the usual ones that accept fiat money and tokens for deposits and withdrawals, and the sites where you can only bet in bitcoin, ether or other types of digital assets. In order to evaluate casino slot machines with recharge via Ethereum, you need to register. All you have to do is enter your email address and mobile number in the special form.
Deposits can be made either using your cryptocurrency wallet or by other means, whereby money is automatically converted into game currency. Casinos that accept Ethereum also allow you to deposit the amount into your personal account via a cryptocurrency exchange or digital currency exchange.
What are the benefits of ether and your own withdrawal wallet for the player? It guarantees anonymity, unless a person wants to reveal his/her identity. Unlike payment systems, where the account is linked to personal details, to register a cryptocurrency account you will only need an email.
How to choose a reliable Ethereum casino
Resources that guarantee fair payments and stable operations are necessarily licensed. It is necessary to look not only at the existence of the document itself, which allows gambling activities, but also at the jurisdiction where the company is registered. Honest sites always put the documentation in the public domain. We present you a list of the best online casinos with the possibility of making deposits at Ethereum.
In compiling the rating, we took into account not only the company’s license, but also a number of other factors: the variety of slots, the presence in the list of games of well-known providers, such as NetEnt, Endorphina, Microgaming, etc. In addition, we took into account whether the crypto casino’s website supports HTTPS protocol, as well as whether a clear and transparent user agreement is provided to customers. A separate evaluation item was the feedback from real users.
Commissions and speed of transaction processing
Crypto casinos a priori offer anonymity, security and speed. But visitors to the gambling sites should be aware that fees have to be paid for all transactions. The amount is dynamic, i.e., constantly changing. It depends on the user (how soon he wants to receive confirmation of the transaction) and on the workload of the system at the time of the transaction. When making deposit you sometimes have to pay 0,001 ETH, sometimes more. Often when depositing, withdrawing large sums, the cryptocurrency fees are lower than for bank cards or e-wallets. Therefore, playing casino games on Ethereum will be more profitable.
Before making money transactions, it’s worth familiarising yourself with the rules of the specific operator, especially looking closely at the commission section. Depositing money usually takes a few minutes. Withdrawal processing time depends on the site’s policy, so delays of up to 24-48 hours can occur for reasons beyond the control of the blockchain platform.
Bitcoin cryptocurrency is accepted just as readily as fiat money. Most of the country’s leading gambling brands strive to use the maximum settlement systems available. The use of BTC and other crypto is one of dozens of options.
Bitcoin for casinos: what are the pros of cryptocurrency
The main plus is the elimination of the middleman. The transaction between the gambler and the firm is actually direct. There is no need to cooperate with financiers, so you cannot worry about an unexpected refusal to carry out transactions.
There are some benefits for the clients as well. Crypto gives anonymity. A person keeps his or her small hobby and level of gambling secret.
Bitcoins for casinos: disadvantages of the solution
Bitcoin casinos accept it willingly. Through digital money, one can make deposits and withdraw winnings. The conversion to the currency of the gaming account is instantaneous. The disadvantages are not without them. Some of them offset the advantages. The disadvantages are serious and there is no way to keep quiet about them:
- changes in the price of the asset;
- actions and statements by politicians;
- difficulties with taxes;
- problems with the sign-up bonus;
- difficulties with further application.
In reviews of TOP casino accepting such variations of transaction execution, people point out each example listed separately. The factors are significant and should definitely not be ignored.
Bitcoins for casinos: the surges in exchange value
The difficulty in using crypto appears because of the high volatility. Coins instantly rise in value and quickly fall in value. Jumps of tens of percent in either direction take hours. On the upside, it’s not profitable for a gamble player to transfer funds into an account and convert into fiat. It is more profitable to wait, thereby increasing the amount of earnings.However, growth is often reversed by the opposite trend. The desire to earn a little money and waiting policy leads to losses. In reviews of the use of bitcoins for casinos, users note problems with withdrawal. The rate hikes result in significant conversion losses.
How to choose a bitcoin casino
When choosing a Bitcoin casino, experienced users recommend focusing on the following characteristics:
- License from the gambling commission. The most common is from Curacao, but more reliable from the UK, Gibraltar, Malta. The certificate will confirm the originality of the sofa (as a consequence, honest RTP, absence of tweaks), stability of payments, confidentiality of personal information. In case of violations on the part of the operator, the player can write directly to the regulator. If the latter conducts an inspection and reveals cases of fraud, the license will be revoked.
- No commission from the operator. But the user has to pay a transaction processing fee to the crypto project. The amount depends on the network congestion.
- Choice of software. It is good if you can play slots, roulette, cards. Sites with a live dealer section have an advantage. The total number of entertainments should be at least 500+ (if it is a classic site).
- Fast transactions. Cryptocurrency transfers take less time than deposits or withdrawals to bank cards or online services. It’s good if it takes less than 5-6 hours to process the request.
- Bonus programme. More profitable sites that offer no-deposit (freespins or coins), % to first deposits, free spins in video slots. For regular customers, a loyalty program with bonus points, cashback, additional privileges (higher limits, withdrawal without queuing, personal manager) will be an advantage.
- Simple and intuitive interface. Support for your own language will be an advantage. Design is also an important criterion. Outdated design is found in one-day sites or projects that do not follow innovations and do not improve for the sake of customers. Such sites are often owned by fraudsters.
- Access for users from specific countries. Visitors should familiarise themselves with the list of allowed and prohibited jurisdictions. If the country of residence is on the blacklist, it is better to choose another site.
- Technical support. Consultants should be available 24 hours a day, seven days a week. It is good if you can ask questions in the live chat and by e-mail. Operators who are active on social networks and respond quickly to comments and complaints from users have an additional advantage.
- Feedback from other players, independent ratings will help sift out scams and choose an honest project with original software. Complaints about accounts being blocked and payment refusals are a telling sign.
Litecoin is an alternative cryptocurrency that entered the market in 2011. The short designation is LTC and the minimum unit is Litoshi. Litecoin was made based on bitcoin’s programming code, so the currencies have a lot in common. Casinos with Litecoin deposits are not uncommon. Whereas previously the cryptocurrency was only used in the black market, it is now considered a full-fledged means of payment. Deposit in LTC is convenient, safe and anonymous.
Benefits of using Litecoin
- Fast deposit and withdrawal times;
- Low minimum deposit requirements;
- Low commissions;
- Litecoin transactions are validated four times faster than bitcoin;
- High degree of anonymity and security;
- Support for virtual games as well as live dealer games;
- Support for games on computers and mobile devices.
Which games can be played with Litecoin
Litecoin casinos are in many ways identical to traditional gambling sites. You’ll find thousands of familiar games from well-known suppliers.
Roulette in Litecoin
Roulette on Litecoin is a casino game where players can place bets on individual numbers, different groups of numbers, colours (red or black), even or odd numbers, and ranges (1-18 or 19-36). To determine the winning number, the dealer runs the wheel in one direction and the ball in the other. Subsequently, the ball loses momentum and drops into one of the sectors marked with a number and a colour. The winnings are then distributed to all players whose bets have been played.
Blackjack on Litecoin
Blackjack on Litecoin is a card game that uses several decks of 52 cards. Blackjack is played at a semi-circular table with one dealer and up to 7 players. The aim of the game is to win by gathering a combination whose total number of points exceeds the dealer’s combination, but not more than 21. Players can also forfeit additional cards in the hope that the dealer will be overmatched.
A Litecoin craps is a dice game where players bet on the outcome of a pair of dice rolls. Craps involves one or more players. They compete against the casino and not against each other.
Video poker in Litecoin
Video poker on Litecoin is a casino game based on the rules of five-card stud poker. Some types of video poker on Litecoin feature progressive jackpots and other bonuses.
Baccarat on Litecoin
Baccarat on Litecoin is a card game based on comparing combinations of two hands: the “player” and the “banker”. The dealer deals the cards face up – two each to the player and banker hands. Whoever has a card sum closer to nine wins.
Litecoin Casino offers hundreds of slot games from reputable brands with years of experience. You’ll discover everything from classic 3-reel games to more highly advanced slots filled with a wide variety of bonuses.
Litecoin casino bonuses
One of the main benefits of online casinos are bonuses. Casinos on Litecoin offer them too, including freespins, deposit bonuses and so on, just like regular casinos. The most common type of bonus at Litecoin casinos is the welcome bonus. New players receive it with their first deposit. Offers for regular players at Litecoin casinos include reload bonuses, dedicated cryptocurrency bonuses, freespins and other promotions. To get the most out of your casino bonuses, pay attention to the wager requirements and only play games that count towards them.
Cryptocasinos provide users with all the same things that a regular or online casino does, the only difference is that bitcoin casinos provide additional protection for the user’s identity and do not ask for bank account information. By using cryptocurrencies, these casinos do not need access to personal banking information, protecting users from malicious attacks and providing an extra layer of security.
However, with so many casinos out there today, it’s not easy to find the safest and best options that are fun, among other things; so we’ve handpicked the top best crypto casinos for you, so you don’t have to look for yourself, and you can start playing right away.