Playing with Cryptocurrencies at Online Casinos | Quick Guide

Rafael An awesome hybrid of a pro poker player and a content writer
Updated Updated: November 24, 2021
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Bitcoins and online gambling are (almost) a perfect match. There are numerous advantages when playing the online slots with bitcoins or other cryptocurrencies. For example, transactions are fast and anonymous, and the best online casino UK offers you the best games for you to play with cryptos.

We will provide you with examples of how good can be to play at platforms that accept cryptos. Also, bear in mind that you should always choose online casinos that you can trust.

Which Cryptocurrencies Can I Use?

Bitcoin is by far the best known and most widely used digital currency. However, there are many other cryptocurrencies on the market (over 1000 at this point), and Bitcoin is not the only one accepted by online casinos.

The list of accepted cryptocurrencies varies from casino to casino, and some do not accept only Bitcoin, while others can offer over 30 different ones.

The most commonly accepted cryptocurrencies at gambling sites are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Dogecoin (DOGE)
  • Litecoin (LTC)
  • Ripple (XRP)

Although most platforms accept Bitcoin, this currency is not necessarily the most advantageous for you or gambling. Although Bitcoin is the most popular, BTC transactions are highly taxed, making Bitcoin less competitive than other currencies. That said, some of the crypto casinos will take the transaction fees and add them to your balance.

Why Should You Play at Casinos with Cryptocurrencies?

For a better and fast understanding, we explain to you why you should try casinos with cryptocurrencies in five points.

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1. Speed

It is not unusual for a typical online casino payout to take days or weeks to process, and sometimes payouts can even lag for months. It is often not the casino’s fault since your bank (and the casino) is not supposed to handle transactions from online casinos. In addition, payment processing structures face huge credit default risks and are often forced to take draconian measures with your money.

Payments with bitcoins are practically irreversible after a short time interval, making bitcoin casinos able to credit your account as soon as the deposit is made and likewise send you what you’ve won to your wallet as soon as you cash out. The difference is overnight how much more rested you get after a big win since you don’t have to worry about what might happen to it!

2. Anonymity

Bitcoin allows you to maintain total anonymity while playing online. In contrast, you better be prepared to provide your name, address, credit card details and other personal information if you want to play elsewhere. 

3. Fairness

What guarantees you that the games are fair, especially when the dealer always seems to be holding good cards? Bitcoin’s cryptographic innovations have inspired the concept of Provably Fair and since then adopted by all major Bitcoin casinos.

This system uses cryptographic features that allow you to digitally “break” the deck before you start playing, ensuring that neither the casino software nor the player knows the order of the cards in the deck during the entire game. When you have the pressure on, it’s good to know that the game you’re playing is fair.

4. Value

Bitcoin casinos save on credit card fees and offer Provably Fair games, which means they don’t need to get expensive certifications from outside organizations. Often these savings end up being passed on to players in the form of better odds and promotions.

What’s more, a lower barrier to entry means that there are a more significant number of game possibilities and greater innovation.

5. Transparency

The fact that it is an open system, blockchain influences all businesses that are connected to it. Many people believe that Bitcoins will represent the new era of transparency in business, and when it comes to this paradigm shift, casinos are no exception.