Gambling in cryptocurrency hasn’t been in the casino industry for a long time. But the number of casino sites integrating cryptocurrency is growing at a fast pace. And why not? Cryptocurrency gambling offers the most secure, cheap, and reliable way of keeping and transferring funds. Online casinos that use cryptocurrencies provide an unmatched level of transparency that is usually not found in traditional online casinos.
Besides, gambling in cryptocurrencies is legal in states where it’s not permitted for you to use the traditional currency. One of the first things to look out for when selecting a casino site to earn real money is the payment options the casino offers. Even though many gamblers are still using debit cards, credit cards, bank transfers, e-wallets, etc. many have adopted the use of cryptocurrencies.
Now, with cryptocurrency gambling, you can gamble in your favorite online casino and be anonymous. There’s absolute security, and that’s why many people are gearing towards bitcoin casinos. If you don’t know anything about gambling in cryptocurrency and want to find out more, this simple guide is perfect for you. We’ll tell you everything you need to know before you begin your cryptocurrency gambling journey.
Let’s get into it.
What Is Cryptocurrency?
In 2009, a group of people wanted to find a way to purchase goods and pay for services while remaining anonymous. So they created a digital currency that was decentralized called Bitcoin, and it still exists today.
Every transaction you make gets imprinted on a digital ledger. A copy of the ledger is kept on several networked computers. So if there’s a transaction and only a copy of the digital ledger shows, an alert can show to keep the ledger from hackers or being illegally changed.
So, it’s impossible to alter a transaction, and it’s almost impossible for hackers to change any transaction or the whole network. That’s why it’s safe and secure when you transact with cryptocurrency.
Of course, there’s more to cryptocurrency, but this should give you a fair idea of what cryptocurrencies are.
What To Expect In Cryptocurrency Gambling Sites
When you’re searching for a site to play online casino games and use your cryptocurrency to earn some money, you should consider several things. First, you should make sure that the site is a reliable website; that is, they are secure and safe.
Find out if you can redeem your bonuses and promotions when you use a cryptocurrency to make a deposit. Another vital point to take note of is the online casino software providers. The casino games for sale that come with the software can also determine which payout is possible. We recommend that you choose casino sites that use trusted online casino software.
Furthermore, check out the security measures of the casino. It’s a critical part you don’t want to ignore. The security measures determine if the casino handles its transactions with quality encryption software or not. You need an online casino that stores their information on a secured server.
Finally, there are times that you’ll face some challenges when you begin gambling in cryptocurrency. When that happens, you’ll need customer service who will solve any problem you may have. So ensure that the casino’s customer support is excellent and can give you the support you need.
Some customer service support claims to be available 24/7 but takes days before tackling your concerns. We know how frustrating it can be, especially if your money is on the line. Make sure you don’t run into those casino sites. Better safe than sorry.
Different Cryptocurrencies You Can Use
Most online casinos have started to pay attention to players using cryptocurrencies. You’ve probably heard of Bitcoin since it’s the first cryptocurrency. But there are several other reliable and trusted cryptocurrencies you can use in your online gambling platform transactions.
Most of the new online casinos are adopting new cryptocurrencies. So if you want to gamble with a cryptocurrency, you should know these cryptocurrencies.
We can’t talk about cryptocurrencies and leave out Bitcoin. It’s the first cryptocurrency to appear on the market. And even though there are other cryptocurrencies, most of the online casinos are using Bitcoin as their payment method. With the emergence of Bitcoin casinos, you can play your casino game and earn real money with Bitcoins.
After they made the Bitcoin public, numerous developers searched for ways to make the Bitcoin better since it has some issues. So they came up with Bitcoin Cash, which is also a cryptocurrency that you can use as a payment method.
The Dash was made public six years after Bitcoin. It’s slightly faster and provides high privacy. You can deposit from $20 to $25,000 and withdraw from $20 to $10,000.
The best part is that it comes with no charges, and that’s why many people prefer the Dash payment method. And also why most casino sites use the Dash as one of their payment options.
The Ethereum comes with no fees, just like Dash. You can use it to trade like Bitcoin, but you can also use Ethereum to run applications. The limits for withdrawals and deposits are the same as Dash. Also, like Dash, there are no charges.
So if you don’t prefer Bitcoin, Bitcoin Cash, or Dash, then Ethereum is the best option to take.
Litecoin is the alternative to Bitcoin because it’s the second cryptocurrency to appear on the market. When it comes to Litecoin, the blockchain is four times bigger, so it’s simple to use, and it’s an excellent choice to go with if you decide to gamble in cryptocurrency.
There are many payment methods in cryptocurrencies you can choose. Some of them are:
Why You Should Consider Cryptocurrency Gambling
As a casino game player, the first thing to consider when it comes to Cryptocurrency Gambling: A Simple Guide to Make Things Clearer for You s to earning real cash is your safety. You can’t ignore the safety part of the transaction, and that’s why cryptocurrencies are the safest way to ensure smooth transactions.
Due to cryptocurrencies, online casino software developers and online casinos can provide high security for players. Since there are no records of your transactions, no one can keep track of your transactions, so you’re anonymous. Also, the online casino cannot store your personal information.
In short, your personal information and financial data remains completely secure and anonymous. It’s almost as if you were not there.
Another advantage of gambling in cryptocurrency is that state gambling laws do not restrict you. Since most states prohibit gambling, you can use cryptocurrency to gamble. You won’t have to worry about law enforcement coming after you.
Drawbacks With Cryptocurrency Gambling
Cryptocurrencies in casino gambling are becoming popular. However, most of the casino sites still use traditional payment methods. That means, you will have to enter your personal information, even if you’re using cryptocurrency.
When you do that, you’re open to cyber attacks. The best way is to find a casino that only offers cryptocurrencies, but you should know that they are not much in the casino industry.
Another drawback is that the cryptocurrency is not stable. There’s no significant change in value when it comes to the traditional payment method. But the cryptocurrency can fluctuate any time and fast. If the cryptocurrency rises against the dollar, it’s to your advantage. But there’s the possibility your cryptocurrency value will decrease.
Before you decide to gamble using cryptocurrencies, take the time to do your research. Find out if the online casino is secured, reliable, and safe to gamble. There’s always a risk involved when it comes to online gambling. But cryptocurrency gambling alleviates those risks. However, it also comes with its negative factors. So, the best way to decide is to lay all the advantages and disadvantages of using cryptocurrency and traditional currency. Find out which risk you can take and which provides the best benefit you want, then go with it.