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How and When: Using Cryptocurrencies at Online Casinos

How and When: Using Cryptocurrencies at Online Casinos

15/04/2019

The online casino world is changing. Gone are the days when all you could do was play a handful of rudimentary slots and win fake chips. Today, thanks to a wave of innovation, online betting and gaming is full of ways to play.

Perhaps the most interesting additions to the industry in recent years are cryptocurrencies. Partly fuelled by the Bitcoin (BTC) boom of 2017, many platforms are now embracing next generation payment technology. Although cryptocurrency casinos aren’t as common as their traditional counterparts, they’re an emerging force worth being aware of.

Cryptocurrencies and Online Casinos

Before we dive into specifics, let’s establish exactly what we mean by cryptocurrency casinos. Although the 2017 Bitcoin boom shot these platforms into the spotlight, they actually emerged a few years earlier. The casinos first focused specifically on Bitcoin and allowed players to make deposits, bets and withdrawals using the digital currency.

As the popularity of alternative cryptos has increased, these casinos have introduced additional payment options. In practice, this means players can fund their accounts using tokens such as Ethereum (ETH) and Litecoin (LTC).

More recently, cryptocurrency casinos have evolved to include other payment options. Or, rather, traditional online casinos have evolved to include crypto payments. Sitting alongside the likes of Visa, MasterCard, PayPal and Skrill, crypto processors allow customers to pay and play in their local currency as well as cryptos.

How to Make Online Casino Crypto Deposits

The only difference between traditional and cryptocurrency online casinos is the way you pay and get paid. To help you understand the process, here’s how to make cryptocurrency casino deposits:

  • Join a crypto casino and navigate to the cashier page.
  • Input the amount you’d like to deposit (this could be in the crypto amount or your native currency).
  • Hit the deposit button to bring up a unique code. This code is known as a crypto wallet address.
  • Once you’ve got the code, go to your own cryptocurrency wallet and initiate a transaction.
  • To complete the process, input the amount you want to deposit and the casino’s wallet address.
  • Finally, wait for the transaction to be confirmed on the blockchain and the funds should be in your account.

Although that’s only a general overview of how to make a crypto deposit, it does contain the key points you need to know. Specifically, you’ll need a crypto wallet filled with the necessary number of tokens required to complete your deposit.

Once you’ve got those things in place, all you need is the casino’s wallet address. As long as you enter this without any errors, the deposit will be processed and appear in your account just as it would if you were using a traditional payment option.

Why Should I Consider Using Cryptocurrency Casinos?

Cryptocurrency online casinos are becoming popular for myriad of reasons. Security, speedy transactions and variety are just three. However, the most common reason players are turning towards these platforms is access. As the internet becomes more fragmented and segregated, cryptocurrencies are offering a way to cross borders.

To put it differently, cryptos are decentralised networks that aren’t bound by national, political or corporate restrictions. By removing a central authority, cryptocurrencies have become universal. In practice, this means you can use them in different countries if you can find a place that accepts cryptos.

Therefore, as a player, you can play your favourite casino games and not worry about things such as conversion fees or local restrictions. In an age where more people are looking to play casino games online, this level of universality is what’s making crypto casinos popular with players around the world.

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