A cryptocurrency casino is an online real money casino, that accepts various types of digital currency. An important characteristic of this type of establishment is also the ability to place bets in cryptocurrency, for example, bitcoin or ethereum.
Online casinos that allow you to play for digital currency are divided into two main types:
- Profiled casinos:
Establishments that offer players only games for cryptocurrency. In such casinos, there is a rather poor choice of providers, or only specialized games developed by the institution itself, such as dice games, are available. The most famous representatives are Stake, Luckyfish. - Casinos that accept cryptocurrency:
This type of establishment includes all online casinos that accept bitcoin or other digital currency. And providing the opportunity to make bets in slots in this currency. Bitstarz is considered to be one of the first casinos of this type. In such establishments, various providers are available to players, including the most popular ones. And there are no games of their own production.
Crypto casinos have their advantages and these include:
- Big Bonuses and promotions:
Most online casinos offer a 100% match bonus of up to a couple of hundred dollars on your first deposit, but with cryptocurrency, you can get more. The 100% match bonus is at least 1 BTC, and there are several crypto casinos that offer up to 5 BTC. Players will often find bonuses in the form of payment methods, as well as free spins, cashback, and much more. - Privacy:
Bitcoin and other cryptocurrencies are decentralized, which means that they are not managed by a bank, and no one has jurisdiction over transactions that are performed using them. In essence, this means that your data is anonymous and not visible anywhere. When playing at an online casino, you just need to specify the address of your cryptocurrency wallet to deposit and withdraw winnings. - Fast transactions:
The transaction time is minimal, and although some transactions in the casino can take up to 3 business days, the withdrawal of cryptocurrency often occurs instantly. Each transaction is executed immediately after processing the current block of the blockchain, so the withdrawal of funds to the casino can take from 10 minutes to several hours after the casino has processed your withdrawal request.
What are disadvantages of cripto casinos?
- The non-recognition of the cryptocurrency as a legitimate tool for exchanging values has led to the fact that most banks refuse to process transactions in and out of crypto casinos.
- Most of the leading online casinos with bitcoin and other currencies are still not licensed and regulated, and this remains a serious threat to your finances.
- The high volatility of the crypto makes the value of your digital assets and winnings unstable.
Are the crypto casinos safe?
One of the main advantages of playing in a crypto casino is the additional security added to your gaming process. Although there is some controversy regarding the security of cryptocurrencies in casinos, since they allow players to participate anonymously, the positive thing is that players have more security. Using cryptocurrency, players can safely and securely make instant deposits and withdrawals at crypto casinos. In a cryptocurrency casino, you will never be asked to provide any personal information, such as your address, bank details, or other confidential data.
Crypto Casinos as a Way of Investing
Investing in an online cryptocurrency casino brings stable profits with low risk, as well as with a good growth prospect since this business is constantly expanding. In addition, it is a great place to store your savings. Thus, you can keep money on the account of such sites while the cryptocurrency will grow in price.
