Cryptocurrency has been finding its way into the general public in recent years. In fact, in the past five years, cryptocurrencies like Bitcoin have gained so much traction that more and more people are realizing the potential of digital currencies.
Online casinos have been one of the quickest to adapt to cryptocurrency. Cryptocurrency gambling has been in existence for almost as long as digital coins like Bitcoin and Ethereum have been. But even with the rise in the number of crypto casinos, a lot of gamblers still do not understand the concept of digital currency and how they can use it to bet online.
We are here to help you understand some common questions about gambling with cryptocurrency.
What is Crypto Gambling?
The main difference between traditional casinos and a crypto casino is the currency being used. In crypto casinos, digital currency is used for deposits and withdrawals which makes transactions instantaneous.
How to Start Gambling with Cryptocurrency?
- Open a Cryptocurrency Wallet
Register for an account so you can have a digital address tied to your account. This wallet will be your source of money when you’re planning to play casino games in cryptocurrency.
- Buy Some Digital Coins
Once you have a wallet, it’s now time to purchase coins using traditional currency; it’s the same as buying anything else online. You simply need to select the coin you want to buy, the amount you wish to purchase, and you will have a funded account almost immediately.
- Choose a Reputable Site to Play With
Now that you have funded your account, it’s time to find an online casino to spend your currency. Look for a site that offers the games you like and start playing. The gameplay is similar to playing with other fiat currencies. Just be mindful of the exchange rate of cryptocurrency to your local currency.
Why Gamble Using Cryptocurrency?
Why should you play in cryptocurrency format when you can play with the usual fiat currency? There are a number of reasons why, we’re going to share with you some of the most important reasons.
Bitcoin may be one of the most secure digital currencies out there, for as long as you know how to store it correctly. Protect your coins by keeping it in cold storage and ensure you have strong passwords. Unlike credit cards, when a gambling website gets hacked, your credit card information on record can become the next target of the hacker. But with Bitcoin, as long as you keep your passwords private, you’ll do fine.
- Optimized for Online Gaming
Bitcoin was born on the internet and made especially for online use. This digital currency seems like it’s made for online gambling platforms. Because it’s optimized for online use, Biticoin eliminates the need for cumbersome payment processors and inefficient, sluggish credit card transactions and bank transfers.
What are the Best Sites to Gamble with Cryptocurrency?
Majority of online sites still require traditional currency to place bets, although an increasing number of websites are now accepting Bitcoin or other coins as payment. The best site would have the following characteristics.
- Game Selection
The most important thing for most players is the quality of the online game. If you enjoy the games, you will naturally play for a longer time regardless of what currency you’re using.
- Customer Service
There are a lot of benefits with using cryptocurrency, but because it’s fairly new, you may end up with a lot of questions about the whole process. This is why an excellent customer service is important so they can support you any time of day and answer the majority of your questions.
- Mobile Compatibility
Since everything is mobile these days, it is important for a site to offer games in the mobile format. The quality of the mobile browser games must also be up to standards so you can truly enjoy your gaming experience.
Gambling with cryptocurrency is simple. You may find the loading or cashing out a bit different from the traditional way, but casinos usually highlight these banking deposit and withdrawal methods so it would be easy for you to follow instructions. Go ahead and try something new! It doesn’t look like crypto will slow down anytime soon.