How To Make Crypto Payments In Online Casinos
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Other than overall web functionality and games on offer, the banking methods at online casinos are part of one of the most critical performance metrics that will define a casino brand’s success and longevity. Until a few years ago, bank cards were the most common payment methods at virtually every online casino, but as technology continues to advance, e-wallets and cryptocurrency wallets have found their way to online gambling as well.
A portion of today’s online casinos now accept cryptocurrencies as banking methods, but the number of options has been growing steadily and isn’t expected to slow down anytime soon. This has given online gambling enthusiasts a lot more flexibility, especially those that own crypto or want to own crypto. As more and more people are interested in how crypto and casinos have blended together in recent years, we came up with this guide covering everything you need to know about how to start making crypto payments in online casinos.
Key highlights:
In this guide, you will learn:
- What makes crypto casinos different from traditional casinos.
- How you can sign up at a crypto casino.
- Which cryptocurrencies are most accepted at crypto casinos.
What Are Crypto Casinos?
In standard online casinos, transactions are processed by banking institutions which have proven to be a lot more expensive and time-consuming than newer payment methods. E-wallets and crypto wallets are now popular alternatives as they avoid such processes. Crypto casinos now get rid ogg this lengthy process. While creating your account, you won’t be required to enter banking card information or leave other sensitive data. The main difference between crypto and traditional online casino payment options is that there is no need for a 3rd party or other authorization for the whole process. The lack of a third party in the payment process is what makes everything different from other banking solutions.
This is why crypto transitions are known to be instant. Although most casinos have managed to speed up their transactions, bitcoin casinos give you the chance to make wagers without using credit and debit cards. One of the most important benefits of crypto casinos is that you’re able to enjoy instant payouts. You don’t need a bank account to sign up at bitcoin casinos which means players enjoy (more) discretion than those that transfer their funds with traditional payment methods. In terms of the overall offer, crypto casinos offer the same type of games as other casinos. There are no differences in terms of web functionality either. Crypto casinos do tend to have a bigger portfolio than other casinos, with thousands of games not being uncommon for most bitcoin casinos. Although crypto casinos are referred to as bitcoin casinos, they are technically different. Most crypto casinos work with other cryptocurrencies as well like Litecoin, Ripple, and Dogecoin.
At most casino websites, basic registration is necessary. Different from most other casino websites out there, this does not require a bank card to be registered. Part of the basic registration process is that you need to create a unique password and confirm your account. Most casinos require a cell phone number as well. Additionally, when it comes to online payments, all crypto transactions follow the same steps as you would make when completing another crypto transaction. Here’s how to get started at a crypto casino:
- Find your favorite online casino.
- Claim your bonus, if available.
- Go to the banking page and select your preferred cryptocurrency.
- Check the mining fees.
- Confirm the payment via your crypto wallet.
Cryptocurrencies Accepted at Crypto Casinos
The cryptocurrencies on offer can depend on the casino operator. New cryptocurrencies have been rolled out in recent years, meaning that the number of available cryptocurrencies is expected to grow. Most online casinos working with crypto tend to stick to a number of cryptocurrencies. Below you’ll find a selection of the most accepted cryptocurrencies with all of the options listed accepted by .
Bitcoin (BTC)
As the leading cryptocurrency, bitcoin is accepted by most crypto casinos and is widely known by players. Bitcoin was launched in 2008, and was the first digital currency introduced. As the first peer-to-peer payment system, the online casino industry has embraced bitcoin too. Speed and low transaction fees make bitcoin arguably the best payment method that can be used, if one holds this banking method. If a casino works with crypto, it will most likely opt for bitcoin. Some crypto casinos have a separate lobby with bitcoin games. There are quite some casinos that have integrated their cashiers to platforms that allow exchange of currencies like USD for crypto. Bitcoin is referred to in online casinos as Bitcoin or BTC.
Ethereum (ETH)
Ether is a native token to Ethereum and it is commonly known as the second most valuable cryptocurrency available, behind Bitcoin. The main difference with Bitcoin is that it was not created as a crypto platform at first, but as a blockchain-based computing platform. Over the years, Ether has managed to gain massive popularity, which explains why it is now available in most online casino websites for making real money transactions. Of course, it offers instant deposits while playing the most popular games so that the overall gambling experience will be top-class. Ethereum is referred to in online casinos as Ethereum, Ether, or ETH.
Litecoin (LTC)
Litecoin is among the best-scoring cryptocurrencies of the world, and it has managed to become a strong competitor to Bitcoin. Litecoin is widely used in gaming which is thanks to Charlie Lee who was the one who created Litecoin. In many aspects, Litecoin is very similar to Bitcoin. Litecoin users tend to favor this cryptocurrency because it comes with faster online transactions than Bitcoin. It is therefore no surprise that cryptocurrency casinos insist on having Litecoin among the payment options as users seem to increasingly enjoy it. Litecoin is referred to in online casinos as Litecoin or LTC.
Bitcoin Cash (BCH)
Bitcoin Cash is widely known as the hard fork of Bitcoin, and it therefore has many similarities with its big brother. All transactions made with Bitcoin Cash are transparent, secure, and more discreet than with most other payment methods. One of the reasons why Bitcoin Cash is so popular among its users is that there are no transaction fees. Although the name may suggest otherwise, there is no cash involved in transactions made with Bitcoin Cash. Cryptocurrency casinos active in the gambling industry have started to implement it on their banking pages as well. Not to be confused, Bitcoin Cash is not the same as Bitcoin and is referred to in most online casinos as Bitcoin Cash or BCH.
Ripple (XRP)
Ripple is a currency exchange and remittance network that was created by Ripple Labs Inc. This US-based technology company first launched the cryptocurrency in 2012. Ripple is built upon a distributed open-source protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value like frequent flier miles or even mobile credits. Ripple states to enable "secure, instantly and almost free global financial transactions of any size with no chargebacks". In a market considered overcrowded, Ripple has managed to become one of the most popular cryptocurrencies available today. This has also been noticeable in online casinos that have largely adopted this crypto on their banking pages. Ripple is referred to in online casinos as Ripple or XRP.
Dogecoin (DOGE)
Dogecoin’s background story is quite something as it is actually a meme coin in the cryptocurrency market. It once started as a plain joke, trying to make fun of all the wild speculations in cryptocurrencies. At the time of its launch in 2013, it didn’t come with any expectations. Despite its funny background story, Dogecoin turned out to be one of the most sought-after crypto casinos. Thanks to its widespread popularity today, Dogecoin is now accepted as a payment option by many crypto-gambling sites. Pretty much all Dogecoin gambling sites process crypto payments almost instantly. This means that users will not have to wait long to start placing bets. Similarly, withdrawals are also processed fastly, especially when compared to most fiat currency banking solutions. Once the platform has processed the withdrawal, winnings will be transferred to the crypto wallet in a matter of minutes. Dogecoin is referred to in online casinos as Dogecoin or (DOGE).
