Crypto Gambling – Guide to Best Crypto Casinos
If you’re into any sort of betting, you would have come across crypto gambling, which has become the preferred type of gaming for many gamblers. The increasing popularity of digital currencies such as Bitcoin and Ethereum has led to growing sub-category of games that are designed to be played with these virtual currencies. While we mostly focus on Bitcoin on our pages, there are altcoins, which are also suitable for gambling in crypto casinos and which have their own advantages.
Crypto Casino Types
Check out the following links to find sections with detailed information on the respective type of crypto casino, including information on its advantages when comparing with other altcoins.
Top Crypto Casinos with ETH, LTC, DOGE & more
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What is Crypto Gambling?
You’ve come across the usual games played at casinos. You also may know that these games have been modified for the computer where people have been playing them for decades. Whether poker, slots or baccarat, it is easy to find an online casino where you can play any of these games. In the past, you could only use your bank card to make deposits into your casino account, and then use the funds to bet in games.
With the advent of digital currencies such as Bitcoin, Ethereum, Litecoin, Dogecoin, Tether and others, many online casinos now support the use of these cryptocurrencies for gambling, which is due to their increasing popularity and the convenience of using them.
This means that all the games that you could only play with fiat are now available to be played at cryptocurrency casinos. The main difference is that instead of paying with fiat such as the USD, you now gamble with cryptocurrencies.
Is Crypto Gambling Legal?
This is a question that most gamblers would want answered, because no one wants to risk their funds. Also casino owners who are starting out want to know what laws that guide the casino business that accepts wagering with cryptocurrencies. Be that as it may, there is no definitive way of declaring the legality or otherwise of cryptocurrency gambling, mainly because the digital currency legislation is still at its primitive stage. Most countries have recently started paying attention to the fact that digital assets such as Bitcoin have come to stay. Even those that have no interest in cryptocurrencies nor recognize it as money are interested in the underlying technology, blockchain. So it is safe to posit that most countries that frown at gambling, such as the United States would also not support crypto gambling within their jurisdiction.
Nevertheless, most reputable crypto casinos make sure that they have licenses from countries that have laid-back attitudes towards gambling. This is despite the fact that most countries do not recognize cryptocurrencies as money. In other words, even without a license, most digital currency casinos would still not be considered illegal in many countries, but players would like to be assured that they are dealing with a casino that is somewhat ‘regulated’ even though in reality, crptocurrency regulation is not fully developed and encompassing.
So for the question of legality, cryptocurrency casinos may be legal or illegal depending on your government’s attitude towards gambling. It is necessary to check any websites that you plan to wager with cryptocurrencies to ensure that it accepts people from your country.
What Digital Currencies Are Supported?
The gaming industry that supports cryptocurrencies is evolving with the crypto revolution. There are thousands of coins that have been developed, but not all are popular. The success of a digital currency usually depends on its use case and the crypto-economics behind it. Users and investors must be sure that the coin would meet their expectations while the developers must have done a good job of making sure that the codebase is hacker-proof.
Successful coins usually have high community acceptance and consequent high market capitalization. Such coins have good circulation and can be used in gambling in casinos. Some of the top coins that can be used for betting are Bitcoin, Ethereum, Litecoin, Dash, Monero, Tether, Bitcoin Cash, Ripple, Novacoin, Stratis, Neo, EOS, Tron, Stellar, NEM, Zcash, Dogecoin and others.
What is obvious is that as the industry evolves, it’ll keep supporting more coins not listed here. In fact, this list is not exhaustive. You would still find a casino somewhere supporting another cryptocurrency that’s not here. Just do some research about the coin you’re about using to wager and the crypto casino you want to play with.
The Best Cryptocurrencies for Gaming
There are several factors that make a cryptocurrency good for gaming.
Stability
Stablecoins such as Tether have the advantage of a fixed value, so you would be sure that any winnings have a predetermined value.
The price of most digital currencies vacillate widely, so the value of rewards gained from the casino will vary if not withdrawn and used immediately. For someone who wants to accurately plan what they’d do with winnings, a stable coin would do just fine.
Privacy
Nevertheless, it is important to know that every digital currency has its unique feature. Some are privacy coins that would enable the player remain completely anonymous. For gamblers operating from jurisdictions where gambling may be prohibited, such privacy coins as Monero and Zcash would help them conceal their identities.
The Others
The upside of the volatility of coins is that the price could appreciate, giving the player higher profits. But with the benefit of knowledge of the coin market, it’s better not to predict its direction. Gambling is enough of risk without the need to start predicting if you’d make more gains or losses based on price movement.
Which Games Are Supported?
Most games that support wagering funds on the internet can be played with digital currencies such as Bitcoin.
Baccarat, craps, poker, keno, video poker, scratch cards, crash games, sic bo, rummy, bingo, hi-lo, minesweeper, lottery, sports bets, slots, blackjack, plinko, roulette, live games, etc.
Finding A Good Crypto Gambling Site
The basic things to consider while choosing a gambling site are:
Reputation and Popularity
Antecedence to be sure that they actually are paying those who win.
Geographic Support
Some digital currency gaming sites actually exclude residents of some countries from their platforms. You should always check that your country of residence is not excluded before making a deposit of your funds.
Support
A good support desk would make using a site a delight if issues arise. A good crypto casino should have customer service team that is competent, professional and easy to reach. Sites that can be reached only through email would not be of much help if you have an emergency.
Fast Deposits and Withdrawals
Deposits and withdrawals of your cryptocurrency should be fast and without hassles.
Terms of Service
Some casinos would demand a sort of identification at some point. Be sure that if that would be an issue down the line that you avoid such crypto gambling sites.
Who Can Play Games With Cryptocurrencies?
Anyone with access to the internet can play these games using their computers or other devices such as mobile phones. Most crypto games are mobile friendly and can be accessed and downloaded or played on the browser.
What Are The Advantages of Playing with Cryptocurrencies?
Better Privacy
There are privacy coins that can be combined with anonymizing software such as Tor, to keep the user anonymous. This helps in places where there are restrictive policies on gaming.
Lower Fees
Fees charged by crypto networks are very low when compared with those of other processors.
Bigger Bonuses
Crypto gaming sites are known for competitive bonuses. This is used to engage the old players while attracting new ones.
International Access
Anyone anywhere can access crypto networks because they are not controlled by a single entity. No government can stop people with access to internet from using these coins to play games.
Are There Disadvantages to Crypto Gambling?
Yes, there are disadvantages to playing games with digital currencies – that is if you wanna see it that way.
- Risk of losses through hacking. Hackers are regularly trying to bridge the security of wallets with substantial funds.
- Price is too volatile. You could lose more than half the value of your assets in a day or two.
- There are limited number of casinos offering many coins for payment.
Are cryptocurrency games fair?
The provably fair concept you see in cryptocurrency casinos is actually telling you that the casino is not going to manipulate bet results since every user can verify on his own. The outcome of such games has not been rigged to the advantage of the casino.
