crypto gambling: What You Need to Know Before You Deposit

Cryptocurrency gambling sites are springing up at an alarming rate as more and more people discover the world of online casino gaming, as the excitement of cryptocurrency grows, so does the demand for crypto-enabled gaming sites; in today’s digital world, where almost everything is built around the use of a digital wallet, it makes sense that online gaming would follow suit and when you deposit money into a casino with cryptocurrency, you can withdraw it back to your wallet or cash out any winnings with no issues and minimal fees.

Cryptocurrency has made playing online casino games much less hassle than ever before, and there are many different types available for gamers to choose from when depositing funds into their preferred sites, from Bitcoin and Ethereum to Litecoin, NEO, Dash, and IOTA – most casinos accept deposits in one or more forms of cryptocurrency, and if you’re new to crypto gambling but want to try it out, stay reading for info on depositing using crypto.

Why use cryptocurrency to deposit at online casinos?

There are several benefits to depositing money using cryptocurrency at a casino, top of the list is the fact that it is almost impossible to get your funds stolen, unlike credit card payments, where you send the money to a third-party service that immediately hands it over to the casino, there is no middleman when it comes to cryptocurrency deposits; when you put cash to a bitcoin wallet, you control them until you withdraw them, making it a secure way to do business, especially for frequent players who wish to reduce risk.

Popular Cryptocurrencies for Crypto Gambling

  • Bitcoin – Bitcoin is the oldest and most popular cryptocurrency in the world, initially created in 2009 as a decentralized alternative to traditional currency, and is now the world’s most popular cryptocurrency with almost all online casinos accepting this form of payment.
  • Ethereum – With Ethereum, you can play a variety of new games, including the Ethereum-themed Bet Chain and Ethereum-powered Slots Chain.
  • Litecoin – Litecoin’s speedier transaction speeds and better scalability make it a popular online casino deposit method, many sites exclusively accept Bitcoin, however many casinos now accept Litecoin.
  • Dash – Dash, a newer cryptocurrency, enables quick, private transactions and cheap transaction costs, online casinos are increasingly offering Dash.

Pros of Using Cryptocurrency for Casinos

  • No broker fees – Using cryptocurrencies in casinos eliminates broker fees, the depositing player pays the entire transaction cost.
  • Low deposits and withdrawals fees – Cryptocurrency deposits and withdrawals have no costs, this is critical for high-volume players who make several withdrawals.
  • No credit card risk – Using cryptocurrencies for casino deposits eliminates credit card danger, this is true for frequent players who don’t wish to save funds externally.
  • No address verification – You also don’t have to provide an address when depositing using cryptocurrency because it is held in a wallet separate from your regular bank account, this allows substantial deposits without a physical address.

Cons of Using Cryptocurrency for Casinos

  • New to gambling – Depositing with bitcoin has perks, but also hazards, as it involves learning new technology and managing a new wallet.
  • New platform – The deposit platform is vital when choosing a cryptocurrency, ensure that most casinos use your platform for deposits and withdrawals.
  • No physical cash withdrawals – There’s no tangible cash withdrawal with cryptocurrency deposits, some casinos let you cash out at a bank branch, while most sites only provide ATMs.