Since the time cryptocurrencies were introduced more than a decade back, they have slowly become a part of mainstream life, being used across industries and sectors. The gambling industry is no exception. Most traditional casinos accept Bitcoins as a means of deposits and withdrawals in addition to the usual fiat currency and debit and credit cards. There are several benefits of online crypto casinos, even though the playing experience in traditional and crypto casinos is almost the same.
The first is that the withdrawal and deposit are made directly through the Blockchain node without any third parties like banks or financial institutions (as in the case of debit and credit cards) coming into the picture. This anonymity is critical for those who do not want to reveal their gambling activities. Further, all data linked to the games in crypto casinos can be checked for any discrepancies.
There are no transaction fees either when players use cryptocurrency. Generally, fees are charged on card transactions. A critical aspect of crypto casinos is the speed of transactions. For example, a typical withdrawal in fiat currency might take 6/7 business days to process. For bitcoins, there is no significant time lag and is usually completed in under 12 hours. This is because the crypto and bitcoins are stored in digital wallets through smart contracts, and hence, withdrawals are almost instant and carried out automatically. The gamers’ funds are not blocked for long, and the crypto casinos benefit from this quick turnover.
Finally, online crypto casinos are more transparent than regular casinos. The odds related to winning a game is dependent on a random number generated between the user and the smart contract, which can be verified after playing. All these aspects have led to the popularity of online crypto casinos growing exponentially.
Best Crypto Casinos Online
There are various parameters on which a casino may be judged – the number and range of games on offer and the ease of transactions, and the speed of payouts. Generally, among the best casinos, there is hardly anything substantial to set them apart. If you were to name them, the list would be endless. Hence, for this post, an analysis will be made of the attributes that the best online crypto casinos should have.
- To start, all crypto casinos should accept Bitcoins as a mode of deposits and likewise allow players to withdraw funds in Bitcoins too. However, while allowing gamers to deposit funds in cryptocurrency, many casinos do not similarly allow withdrawals. Before selecting the best online crypto casino, ensure that the site allows both forms of transactions.
- The next point to verify is whether all amounts on the site are displayed in Bitcoins. The best crypto casino sites do. This is especially true for prize and bonus offers. You will not want to continually calculate the value in Bitcoins if it is shown in Euros or the US dollar.
- If you are looking for the best crypto casino, take some time off to check the credentials first. Read the reviews to know the experience players have on the site. Know of any discrepancies faced by them and also the strong points of the casino. Play on the site if you are convinced about whether it falls in the best cryptocurrency casinos category.
- Another aspect of the best crypto casinos is the offers to players. Does a crypto casino provide a bonus on the first deposit, and does it offer free money and free spins when an account is opened? These are critical aspects that distinguish the best casinos from the ordinary.
- Optimized customer support and service are the hallmarks of a Bitcoin casinos. The support offered should be of the highest quality, including quick follow-up over email to any queries and live chat for problem-solving round the clock.
These are some of the characteristics of the best crypto casinos online.
Frequent Questions Related to Crypto Casinos
- What is Crypto Casino?
Crypto casinos are establishments that accept Bitcoins or other crypto coins as a transaction mode apart from fiat currencies. While most allow deposits to be made in crypto, not all casinos permit withdrawals in this mode. All other facets are the same as traditional casinos.
- Are crypto casinos legal?
This is a grey area as there are no specific statutory regulations regarding crypto gambling. Crypto, unlike fiat currency, does not fall within the control of Governments or any regulatory authorities. If there are no laws governing Bitcoins, there is nothing illegal about using Bitcoins for gambling.
- Is crypto gambling or investment?
When used at online crypto casinos, it falls under the purview of gambling. But crypto is also an investment option and is widely considered, along with gold and Treasury Bills, to be a safe-haven for investors during an economic crisis or recession. This has been proved during the recent Covid-19 pandemic, where the Bitcoin’s value has remained comparatively stable.
- What are the benefits of crypto casinos?
The most important benefit is the secrecy factor as transactions are on the Blockchain node and cannot be traced back to you, thereby concealing your gambling activities. Apart from this, withdrawals are fast and take less than a day. No transaction fees are applicable too.
- What kind of games to play in crypto casinos?
A wide range of games is available at crypto casinos, including Dice, Classic Dice, Roulette, Limbo, Blackjack, Baccarat, Minesweeper, Crash, Video Poker, Lottery, Slot, Plinko, and many more. Most of these games have a shallow house edge starting at 1%.
- What are the payment methods on crypto casinos?
Different crypto casinos accept different cryptocurrencies, but the most widely used are Bitcoins. Check with the crypto casino site before playing.
With the rise in the use of cryptocurrencies globally, there is an increase in crypto casinos worldwide. The popularity is because of the many benefits that these casinos bring to the table, as detailed in this post.