What is a Crypto Casino?

A cryptocasino is a casino that accepts payments in one or more cryptocurrencies such as Bitcoin (BTC) or Etherium (ETH).
In addition, any winnings you withdraw are typically also of the same currency, but each casino will specify what’s accepted. Crypto Casinos have been growing steadily in popularity and offer several advantages over other casinos.

Advantages of Playing in Crypto Casinos

To put simply, it’s cheaper. Most crypto casinos wont charge you any transaction fees and if you’re already accustomed to using cryptocurrencies then you’ll find the process of depositing money to the casino easy enough.

The speed with which you can deposit or withdraw is another factor here; traditional bank wire depositing can take several days before the money gets to the casino, and vice versa when you want to cash out. If you have crypto in an ewallet, you can instantly send the money across, or receive it back.

In addition, crypto casinos offer more anonymity to players, with many not requiring KYC and allowing for transactions without gathering your personal data. If privacy is important to you then crypto is a good alternative here.

Advantages of Traditional Casinos

Here’s what you need to keep in mind; if an online casino is operating without any regulation, there is always a risk of them closing down and keeping your money. The same risk exists in non regulated traditional casinos as well, but regulation serves as a means to hold them accountable for their behaviour and without it, there is not much a player can do to retreive their funds.

It is worth noting that if you choose a few crypto casinos to play in instead of just one, and you withdraw winnings on a regular basis, you can minimise the risk of losing any or all funds should the company disappear suddenly.

Fiat currencies are much more stable than cryptos, so winning big in a traditional casino is just as good as it sounds. Whereas cryptos such as Bitcoin can actually change rate so much that by the time you cash out, your Bitcoin might not be worth that much in USD. On the other hand, the rate could go up and you could cash out much more than you thought possible.

The Future of Casinos is Crypto

New cryptocurriences are being created all the time, and casinos are gradually adopting to this variety of digital money. Casinos face harsh regulations worldwide and they know that many players want to use their services without restrictions.

To that effect, crypto casinos are becoming more and more popular, and could very well one day become the standard in online gambling.

Right now most casinos tend to work either with fiat or with crypto, but a few currently offer a selection of both. Make sure to read any FAQ or Terms and Conditions per casino so you know how they are operating, and get in contact with their Support team to find out all information first. Remember that a quick, helpful Support team is a sign of a good casino.

To check out some exciting offers for new players, find our list of best crypto casinos here.