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What is a Crypto Casino?
Crypto casinos (also commonly referred to as bitcoin casinos and bitcoin gambling sites) are just like regular casinos – they provide players with a wide selection of casino games, giving them an opportunity to win while having fun. The major difference is in the payment methods that crypto casinos offer: namely, instead of PayPal or debit cards, you’re encouraged to make your deposit with cryptocurrency, such as Bitcoin, Ethereum or Dogecoin.
Over the last several years, more and more players have adjusted to using crypto not only for gambling, but for all sorts of online purchases. Crypto’s value fluctuates often, but very rarely drops drastically – usually, crypto deposits will rise in value over time, meaning that you can potentially earn more money than you would at regular online casinos. Crypto transactions are also completely anonymous, meaning that while the casino knows you’re gambling, your bank does not, and you’ll avoid any restrictions imposed by them (such as a lower credit score).
The Most Common Casino Cryptocurrencies
While bitcoin gambling is certainly the most popular when it comes to crypto casinos, it’s certainly not the only way to do it. There are dozens upon dozens of different cryptos out there, as technically anyone can make one and release it to the public to be mined – though, of course, not all will find popularity. Some, such as Bitcoin Cash, offer an alternative solution, others like Ethereum or Ripple prefer to do their own thing, and others still, like Dogecoin, only gained popularity thanks to online meme culture.
Bitcoin casino sites are by far the most popular form of crypto gambling – and the simple reason for this is that bitcoin is simply the most popular crypto. While not the first crypto to exist, it was the first to become accepted as a substitute for regular cash, resulting in its wide adoption and skyrocketing in value over the span of only a few years. Today, practically all crypto casinos accept bitcoin.
Ethereum is the second most popular crypto in the world, and it’s not difficult to see why – while Bitcoin, warts and all, will always be at the top due to being the one to popularize cryptos, Ethereum’s technology is far more robust, allowing for additional features to be built into or on top of it. It’s far more than a simple currency – it’s also a tool that uses crypto-level blockchain security to build impregnable apps and private document deposits.
Practically speaking, Ripple operates very similarly to Bitcoin, but on a technical level, “under the hood”, the two could not be any more different. Unlike Bitcoin, Ripple is more of a peer-to-peer payment transfer tool that also happens to have its own currency rather than a dedicated “coin” that needs other wallets and services to be kept in. Due to that, its transactions are extremely fast, and any XRP tokens can be instantly converted into other currencies.
Crypto isn’t the only part of Internet culture to have received widespread adoption – Internet memes have seen a similar meteoric rise and mainstream acceptance. It’s near impossible to browse social media without coming across daily memes intended to make people laugh. Dogecoin itself started off as one such meme, which spiraled into a lot of people buying it for the joke… Which, in turn, increased its value, making it a legitimate currency. Talk about humble beginnings!
Litecoin is the “silver” to Bitcoin’s “gold”. It functions similarly, but is significantly cheaper, with one Litecoin hovering at around 130 quid as of the time of writing. This means that, instead of buying 0.0037 Bitcoin, you can simply purchase 1 Litecoin, which is much easier and more intuitive to keep track of. In addition, Litecoin transactions are much faster, which has earned them a very favourable reputation among both gamblers and crypto enthusiasts.
Tron is rather similar to Ethereum in that it’s not only a cryptocurrency, but an entire network protected by peer-to-peer encryption and top tier security, allowing developers to build their own apps and programs that can be protected by practically unbreakable security. If Litecoin was Bitcoin’s little brother, then Tron is the same to Ethereum.
Eos takes the ideas introduced by Ethereum and Tron and brings them to their logical extreme, by focusing almost exclusively on the app development aspect to the point where it is impossible to mine the Eos cryptocurrency. All 1 billion tokens are already in circulation and are used as a payment system between the various apps developed in or supporting Eos.
Bitcoin may have been the first crypto to gain global popularity, but it was hardly perfect. Bitcoin’s slow transactions, for example, were a huge point of contention that most cryptos that were developed after Bitcoin attempted to solve. Bitcoincash was created by crypto enthusiasts to process much bigger blocks of information at once and to only need a very small amount of data to do that, making it significantly faster than its counterpart.
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Pros vs Cons of Crypto Deposits
No transaction fees – Usually there are no fees for making a deposit with crypto.
Transparency – Spending or receiving crypto is transparent and with no hidden fees or pitfalls.
Global availability – With no restrictions on transactions, crypto casinos are widely available.
Growing investment – Withdrawing crypto may increase your winnings due to its rising value.
No recourse for scams – Transactions are peer-to-peer, so there’s no way to get your money back.
High volatility – Most cryptos experience frequent shifts in value that make them very unpredictable.
5 Things You Should Know About Crypto
A crypto casino, at least on the surface, may sound just like a regular one, but accepting crypto currencies. And while that’s technically true, it creates a butterfly effect which spreads throughout every aspect of the casino experience.
Betting with Crypto is legal, but complicated
Whether or not it’s legal to play at a Bitcoin casino depends entirely on your jurisdiction, but in most (such as UK and Germany) they fall into a bit of a grey area. The UK Gambling Commission and German regulators will not officially approve casinos working with exclusively crypto, but at the same time, UK laws also state that it’s legal to play in casinos licensed by foreign institutions such as Malta and Curacao.
Withdrawals from crypto casinos are usually fast
The worst part about online casinos is certainly the waiting between clicking that Withdraw button and your hard-earned winnings finally appearing in your bank account. Regular casinos need to go through a lot of checks and verifications before they give you even a penny in order to comply with banks and money laundering regulations. Crypto withdrawals, however, should take days at worst as opposed to weeks or months.
Bitcoin transactions are not traced by banks
Obviously the online casinos need to know who you are in order to comply with regulations, so we’re not going to claim that a Bitcoin casino will provide you with some kind of special anonymity unlike a regular one. However, crypto transactions are encrypted, which means that your bank has no clue how you’re using your money except that you bought crypto. This is a good way to avoid having your account restricted or credit score lowered due to gambling.
Not all crypto casinos are regulated
Just because a casino shows up high in the Google results for “Bitcoin casino” doesn’t mean they’re legit! While it’s impossible for someone to empty out your Crypto wallet, the chance is high that you’ll never see your deposit again even if you win. Double and triple check who has licensed them and is monitoring them to ensure they’re provably fair!
It’s possible to gamble using a physical crypto wallet
A physical wallet works the same as an online one, after all – the only difference is that your Crypto keys are being stored on a physical storage media rather than online in the cloud. As such, it’s perfectly possible to deposit funds into a Bitcoin casino with your shiny metal wallet, but naturally you’ll need to be on desktop – it is a USB storage device, after all!
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How to Choose the Best Crypto Casino
Choosing any online casino is tough work, but that goes double when you’re picking one to play with crypto! There are so many variables, right? Well, you’d be surprised just how much in common picking a good Bitcoin casino has with simply picking out a good casino! Here’s a few great tips about what to look into when making your crypto casino choice:
Available Crypto Deposit Methods Does the casino you’re eyeing offer your favourite crypto as a deposit method? How about withdrawal?
Personal Preference Ultimately, picking out a Bitcoin casino is your choice, not anyone else’s. Pick the one you like best!
Licenses It’s crucial to ensure that your casino is licensed – it’s illegal to operate a bitcoin casino without a proper licence. Imagine what else they don’t have.
Customer Support A great customer support service (ideally live chat, but with phone and e-mail options) is essential.
Reliability and Reviews Does the casino have a review on our site, or on other big casino sites? What do they say? Do they warn of a scam, or do they vouch for it?
Number and Variety of Games Nobody wants to play games at an online casino without good games! Make sure the casino actually has something worth playing.
Bonus Offers Are the bonuses just not enough to seek your teeth into? Or are they just way too inflated? Both are good reasons to stay away.
Crypto Casino Bonuses
What would an online casino be without a great first deposit bonus? Whether you’re looking for some bonus funds, free spins or even a few Dogecoins on the house, the best Bitcoin casinos seldom disappoint! Here are some of the more popular bonuses you’ll encounter at various Bitcoin gambling sites operating in the UK and beyond:
No Deposit Crypto Bonus
The most coveted among all deposit bonuses – and, unfortunately, also the rarest. A no deposit bonus means that you’re receiving some crypto essentially for free, with no investment required from your side. Maybe it’ll be a few coins to get you started, or a handful of free spins whose winnings you can keep. If it sounds too good to be true, that’s because it is for most online casinos, both the ones accepting crypto and more traditional payment methods.
The most popular welcome bonus in both regular and bitcoin casinos, the match bonus will give you bonus funds equal to the value of your deposit. For example, if your deposit was, say, 500 Dogecoin, a 100% match welcome bonus will grant you an extra 500 as bonus funds.
Those may be used just like your regular currency, except any winnings you gain from them will also convert into bonus funds. After a set number of conversions, though, your bonus funds will turn into real, freshly minted crypto, allowing you to withdraw them or use them on more provably fair games.
Crypto Free Spins
Spinning slots are the favourite pastime of thousands of gamblers, and this bonus lets you do it for free – what’s there to complain about, really? The only difference when it comes to bitcoin casinos is that any winnings you gain from the spins will be in crypto rather than another currency.
Just like with the match bonus, though, those winnings aren’t just free money – they will be added to your bonus funds and must be wagered through a set amount of times before being withdrawn.
Bonuses Exclusive to Crypto Players
Not all bitcoin casinos accept exclusively crypto – some deal with more traditional payment methods, such as debit cards and PayPal. However, those casinos will often try to incentivize their players, and to give them a little push towards Bitcoin gambling.
That’s where crypto exclusive bonus comes in! Usually it comes in the form of a deposit bonus (at times restricted to only the welcome bonus) which the player may gain solely by making a deposit with crypto, thus making the process a bit sweeter.
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Crypto vs Debit Card – Which is Better?
Some casinos will only accept debit cards and other traditional payment methods, while even the best Bitcoin casinos will usually only accept crypto. Therefore, a choice must be made… But what is the correct payment method to use? What should you choose when the end result (playing some casino games) is the same regardless of the method?
Well, the fact of the matter is that there really isn’t just one correct answer – you need to decide the method which is right for you. If you’re a more casual user that just likes to play a few games of roulette at online casinos every once in a while, it might be best to stick with debit card for your convenience. However, if you’re an avid gambler that actively seeks out to maximize their profits (and/or is interested in exploring modern technologies and innovations), then pursuing crypto could be the opportunity you were waiting for!
What are Crypto Wallets?
Most cryptocurrencies (for example, Bitcoin) are authenticated using keys – long strings of numbers and letters that are used to authenticate whether you’re the rightful owner of the money or not, and which in turn can be used to make transactions and purchases. Unfortunately, keeping those keys just written down somewhere is akin to stuffing your cash in your pocket – it works, but don’t be surprised if it ends up missing. There’s been plenty of horror stories of would-be millionaires who bought 50 BTC over a decade ago and then forgot their keys!
A crypto wallet is a program which keeps your keys safe, and in turn uses them to initiate transactions safely and securely. In practice, the process works very similarly to how you can purchase items online with your credit card by using your PayPal or Google Pay account, so that you don’t need to input it all the time. Just like PayPal keeps your card details safe, a crypto wallet will encrypt your key and ensure that only you have access to it – and that the risk of losing it is minimal!
How to Open a Crypto Wallet
Crypto wallets can be a bit of a tough nut to crack if you’re not already familiar with them, but believe it or not, they’re actually quite easy to sign up for and set up. The hard part is picking out what wallet you wish to use – obviously choosing a physical crypto wallet will be very different from using one that is entirely online, and if that’s the route you’d like to go (which is perfectly understandable), then it’s best to simply refer to the manual. If you’re using an online service, here are the steps you need to take to open it:
How to Open a Crypto Wallet
Choose exactly what Crypto wallet you wish to use
Download its app on your device of choice
Sign up for an account and verify it
Write down the private key it will provide you and keep it safe
Transfer crypto into your wallet for safekeeping
Crypto Casino Safety – Are They Provably Fair?
This is, unfortunately, a very complicated question when it comes to bitcoin casinos. First of all, to address the big question many of you have regarding bitcoin casinos – are they a scam? Do they just steal people’s money? Just like with regular online casinos, it’s up to you to check and ensure that the casino has all its proper licenses and has good reviews online. Try to use your common sense and figure out if the casino is perhaps looking a bit shady, with a clearly amateurish design and offering bonuses that are too good to be true.
The good news is that, unlike debit card casinos, if you deposit in a bitcoin casino there’s actually no chance at all of your entire account being drained due to the nature of crypto. If you have a wallet with 500 Dogecoin and you deposit 50 in a casino, there is no way for that casino to drain the rest, which they would if they were truly shady and had your debit card number. The bad news is that, if you do fall for a scam, you will have no way to get your money back, unlike a service such as PayPal which will refund you should you pay a scammer by accident. It is our recommendation to start off with smaller deposits until you’re certain that the Bitcoin casino is provably fair.
Playing at Mobile Crypto Casinos
Statistics don’t lie – most people prefer to play casino games on their phones rather than on desktop. This likely goes double for crypto enthusiasts, whose rigs are often hooked up to mine their crypto. Luckily, you can enjoy practically all crypto casinos on your phone, including all games, features, bonuses and promotions! Below we’ve outlined some of our favourite crypto casino apps that you can access right from your phone’s Internet browser.
History of Crypto
Believe it or not, Bitcoin isn’t actually the first crypto that was used on the market! Indeed, long before the age of playing slot games with online currency, way back in the ancient times of 1983, when most of us (the ones who were born, at least) were playing Super Mario Bros or listening to Bowie, a man by the name of David Chaum already conceptualized the first ever crypto, which went by the name ecash. The system he described shares many similarities with the cryptos of today, including using electronic, randomly generated encryption keys to provide extra security and conceal the details of the transaction from banks and other institutions.
While ecash never materialized in a form that us regular people could mine, the idea itself was revolutionary, and now it was a matter of waiting for technology to catch up. Several attempts at crypto emerged throughout the 90s and early 2000s, such as b-money and bitgold, but neither managed to find much popularity. That was until an anonymous developer using the pseudonym Satoshi Nakamoto invented this little known crypto you may have heard of, a very obscure project by the name of Bitcoin. Bitcoin iterated on the ideas started by Chaum and others, but with one major difference: it would be decentralized and dependent on a network spanning the globe rather than a single, central server.
Bitcoin quickly took off, as thousands of people around the world began to mine it, many just for fun, others out of curiosity. But what made Bitcoin special compared to its predecessors was that it could actually be exchanged for real, tangible objects. In 2010, Laszlo Hanyecz famously spent 10,000 bitcoin to buy $41 worth of pizza (valued at over £360 million as of the time of this writing). People today may scoff and think Hanyecz must be the biggest idiot in the world, but the fact of the matter is that his transaction, and others like it, opened the door to bitcoin rising in value, and in turn enticing other enterprises to create their own cryptocurrencies.
Alternate Deposit Methods – Crypto Alternatives
Bitcoin is, for better or worse, the newcomer in the world of online casino games, with many other methods already established and widely accepted. In fact, even crypto casinos more often than not accept alternative methods of deposit – even if the best bitcoin casinos will always give you a deposit bonus for using that method. If for one reason or another you’d rather deposit with an alternative though, no worries – there’s plenty to choose from!
Debit cards are by far the most common way to deposit in an online casino – in fact, chances are you’ve used them at least once to claim a first deposit bonus or manage your deposits and withdrawals. Depositing is as simple as inputting your card details into the respective form and then allowing the casino to withdraw the necessary funds directly from your bank account. While not a flawless method, especially when it comes to security, debit cards still remain one of the leading payment methods in the world of online casinos.
PayPal is, without a doubt, the single most popular e-wallet service available on the market, and also one of the first, being founded all the way back in 1998. It’s a bit funny to think that while once people reacted to it the same way that they react to Bitcoin now (claiming it’s not “real money” if it’s not cash or in a bank), today millions of people use this payment method for both online gambling and regular, everyday shopping!
Much like PayPal, Neteller is another e-wallet service which was started around the same time – but make no mistake, despite their obvious similarities there’s plenty of differences between the two. The most important one is that most online casinos don’t accept PayPal, as the company has a policy against accepting payments for adult activities (like gambling) and only makes exceptions for the biggest brands. Neteller, meanwhile, is significantly more widespread, and on top of that its deposit fees are slightly lower than PayPal’s. In exchange, it’s less secure and less common outside the realm of online casino.
Skrill is, in many ways, very similar to Neteller – which makes perfect sense, as both are owned by the same company after Skrill was purchased by Neteller in 2015. While Neteller is undoubtedly the more popular and successful of the two, Skrill’s advantages when it comes to online gambling are undeniable. Many casinos will not charge you transfer fees if you deposit internationally using Skrill, but more importantly for our purposes, you can deposit into your Skrill wallet using bitcoin. This makes it a great workaround – if you want to play with bitcoin, but a particular casino doesnn’t accept them, just use Skrill as an intermediary!
Frequently Asked Questions About Crypto Casinos
Are crypto casinos a scam?
As the development of using cryptocurrencies as a legitimate currency for use at online casinos is ongoing it should be noted that crypto is not as regulated as, say, the more traditional payment methods. However more and more reputable casinos are now accepting cryptocurrencies as a valid method of payment, the advanced technology used by the casinos prevents scam artists such as identity thieves to apply any underhanded methods.
Can I deposit in crypto and withdraw in pounds?
Not at most crypto casinos, as many tend to operate exclusively in crypto without offering the option to withdraw using a traditional payment method, such as PayPal or a debit card. With that said, if you want to enjoy your winnings in your local pub, all you need to do is sell the bitcoin you win and withdraw the money for it in your bank account.
Who regulates and licenses crypto casinos?
All reputable online casinos that you should consider registering with should be licenced and regulated by the appropriate gaming authorities. This is also the case with regards to crypto casinos or online casinos that accept crypto as a valid payment method. Licenses are dispensed by gaming authorities such as MGA, UKGC, Curacao and many more
Are crypto casinos legal in the UK?
Crypto casinos that have the proper accreditation and certification are legal in the UK. In the case of UK players, you’ll be looking for a licence from the United Kingdom Gambling Commission. A casino without a licence may not be a legal set-up and simply isn’t worth your time.
Where should I buy crypto from?
When it comes to buying Bitcoin and cryptocurrency, there is no shortage of crypto exchanges to choose from. The best place to buy any crypto should offer low transaction fees, easy account setup and convenient payment methods. One of the most popular trading sites for crypto is eToro, a globally recognised crypto trading platform.
What’s the difference between a physical crypto wallet and an online one?
Physical crypto wallets are physical devices that are used to store crypto funds and private keys. Although viewed as a more secure option, physical wallets need access to a computer making them relatively less accessible. An online wallet is a wallet where funds are stored online that are generally considered more user-friendly and accessible than their physical alternatives.
Is it possible to gamble with less popular crypto, like Dash?
Bitcoin is clearly the most well-known and most popular virtual currency. So much so that some casinos only accept Bitcoin. Although, there’s an increasing number of them are offering other cryptocurrencies such as Ethereum, Litecoin and Ripple. Check each online casinos payment method to see if your preferred choice of crypto is accepted.
Can I use a casino as an alternative to traditional wallets?
It’s generally not a good idea to use the casino for that purpose. While it functions much like a regular wallet, in that it stores the deposit you sent it and keeps it available for use in the casino, withdrawals aren’t always easy – meaning that issuing payments or transfers is going to be more difficult than it needs to be. Just use an online wallet, it’s free and offers far more functionality.
What’s the difference between Bitcoin casinos and other crypto casinos?
Technically a Bitcoin casino is a gambling platform, just like any other kind of casino, it just happens to be that one of its in-game currencies is Bitcoin. Other crypto casinos can be known as blockchain casinos that use smart contracts such as Ethereum smart contracts to highlight the casino’s legitimacy and transparency
What is the best Bitcoin casino?
When looking for the best Bitcoin casino to register at make sure to look at the following guidelines. Which site has the biggest selection of games or bonuses? Are there any terms I need to know, like wagering requirements? Which Bitcoin casino is the most trusted and brings the best overall package? Bitcoin.games and Stake.com are two highly-rated Bitcoin casinos.
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