Cryptocurrencies are gaining popularity in the world. In 2022, even housewives had a few bitcoins in their crypto wallets. What can we say about gamblers who are always on the cutting edge of Internet technologies?
In 2022, the largest online free casinos online offered to replenish the financial account on the website in cryptocurrencies. Most often, these are bitcoins, Ethereum, or litecoins. Some sites offer a larger number of cryptocurrencies – up to 50 names.
Cryptocurrency and crypto casino: what is it?
Cryptocurrency is a kind of electronic money. Its peculiarity is that cryptocurrency management is decentralized. No single administrative body would take care of it – like a state, bank or other financial institution. All cryptocurrency transactions take place automatically. It is also convenient for players because cryptocurrency wallets allow them to enjoy complete anonymity.
With the spread of cryptocurrencies, more and more cryptocurrency casinos began to appear. It is the name of any online gambling site where you can play slot machines for free and which allows you to deposit and withdraw money in cryptocurrencies.
Advantages of crypto casinos
Crypto casinos have several advantages over other gambling clubs and online casino payment methods. Among them:
- The ability to replenish the account in any currency.
- Anonymity and security of transactions.
- Protection against fraud because transactions are encoded.
- A bank or other institutions do not control withdrawals to a cryptocurrency wallet.
Thus, it is anonymous, safe and legal. That is why many gamblers choose cryptocurrency casinos.
What cryptocurrencies are accepted by online casinos
Major online casinos accept up to 50 different types of cryptocurrencies. Here are the most common cryptocurrencies in gambling clubs:
- Bitcoin is the most popular cryptocurrency in the world, even Elon Musk is its ambassador. The bitcoin system was launched in 2009 and has held leadership since then.
- Ethereum is another popular currency that is often found in casinos. It entered the market in 2015 but has already managed to take a leading position.
- Bitcoin Cash is an electronic currency that at one time separated from bitcoin. The primary difference between them was that bitcoin cash uses slightly different protocols.
- Litecoin is another popular fork (side branch) of bitcoin.
- Dogecoin is a cryptocurrency based on Litecoin, which has a fast initial mining period.
- Dash – also known as darkcoins. This currency uses several crypto algorithms at once and requires less energy for mining.
How to deposit in casino and withdraw winnings in cryptocurrency
How to replenish online casino with cryptocurrency
Deposit in cryptocurrency is somewhat different from similar operations by other methods:
- Log in to your casino account.
- Open the “Cashier” page.
- Choose the desired currency among the proposed methods.
- Specify the amount of deposit to be replenished. If the system gives an error – try to increase the amount of money.
- Then the site will redirect you to the transaction page. To start it – enter your email address.
- Then make a transaction to the cryptocurrency wallet address the system will offer you.
Please note that the minimum limit for replenishing the balance in cryptocurrency exceeds the limits in other currencies. Usually, it is tied to the value of one unit of currency if the exchange rate does not exceed several hundred dollars. If it is more – then derivative units of a smaller scale are taken into account, such as 0.1, 0.01, etc. The maximum limit depends on the LTC online casino policy.
Important: since the limits are related to the exchange rate, their actual value may not coincide with the data indicated on the casino website. If you enter the minimum amount of money indicated on the website, but the system gives an error, try to increase the amount until the error message disappears.
You should also remember that blockchain networks charge a commission for money transfers. It applies even to replenishments. All because the transfer goes to the recipient through several intermediate wallets. The commission level can vary depending on how fast you want to make the transaction.
The speed of deposit and withdrawal depends on your choice of cryptocurrency. Since their mining speed is different, it affects the transfer of funds. For example, to replenish the balance in litecoins, you will need to wait about 15 minutes. In bitcoin – even longer.
How to withdraw money to a crypto wallet
The process of withdrawing funds in bitcoin or other cryptocurrencies is also somewhat different from the usual one. These differences relate to the commission, speed and limits already described above. Otherwise, everything is similar to other methods that can be used to withdraw money:
- Log in to your account on the gambling club website.
- Go to the Cashier and open the withdrawal tab.
- Select a cryptocurrency from the available list.
- Specify the amount of money, cryptocurrency account number, or other data required for the transaction.
- Confirm the creation of the application.
The transfer time depends on three factors: confirmation of the request, the queue for withdrawal in the casino and the speed of operations in the selected cryptocurrency.
To be able to withdraw funds, first do not forget to pass verification. You can do this in your profile.