Image: unsplash.com
It is estimated that the crypto gambling industry is worth approximately $250 million a year with an increasing number of players turning their attention to crypto casinos for the anonymity, privacy, and security they offer. But, if you don’t know your Bitcoin from your Bolivar, using one of these sites can seem daunting. Below, we look at what you need to start playing at crypto casinos and provide a few tips to help you choose the best one for you.
Choose A Casino
The first step is to choose the best site based on your needs. There are lots of options, ranging from those with live dealers to offshore casino websites. For players who want to avoid tough restrictions in countries like the UK, these sites that are not part of the UK’s GamStop scheme are ideal. They typically also offer bigger bonuses and unique games. For players who value live action, look for live dealer sites. Choose a site with good security and privacy, while also considering the range of games and, of course, the types of payment options available.
One thing all crypto casinos have in common is that they will accept Bitcoin and many other popular cryptos to give players a range of benefits. In fact, according to Callum Turner, casino reviewer from Best Anonymous Casinos, “cryptocurrencies operate independently of financial institutions like banks, which we call decentralized crypto assets. Because of their lack of affiliation with banks and the fact that they are considered digital assets rather than currencies, they don’t require you to submit KYC documentation when you deposit or withdraw funds.” That means you can gamble in complete anonymity.
Security And Privacy
Crypto casinos offer greater security than fiat casinos. You don’t have to submit bank or card details so details of these can’t be stolen or lost. However, you still need to take precautions. Check the software that the casino site is using and read their privacy and security terms. Check player and professional reviews to determine whether a site is truly safe before signing up with any personal details.
Payment Options
If you’re specifically looking to use Bitcoin or another cryptocurrency, you will need to choose a site that offers crypto betting options. This means that players can deposit and withdraw money using a cryptocurrency wallet, rather than fiat currency payment methods. Check the deposit and withdrawal terms for the site, paying particular attention to how often the site processes its Bitcoin payments and withdrawals. Crypto offers near-instant payments, so there’s no reason you should have to wait days to be able to get your winnings back in your crypto wallet.
Choice Of Games
Slots, roulette, and poker are some of the most popular online casino games, and most crypto casinos offer some form of these games. But, some have a broader selection and more variants than others. If you prefer the odds of European roulette to those of American, ensure the casino offers this. If you’re an avid slot player, look for a casino with a good range of digital slots available. If you like to try a few different games, look for the site that offers the greatest range of game types.
Bonuses
Bonuses include first-deposit bonuses, reload bonuses, and many more. While you shouldn’t base your entire decision of what casino to play at based on the bonuses, they can expand your wallet and extend your playing time. If you’re a regular player, look for those sites that offer reload bonuses. If you’re just dipping your toe in the crypto gambling water, look for a site with a decent first-deposit bonus. Check the bonus terms and conditions, though, because some sites place a wager restriction on withdrawals. You might have to place several hundred dollars in bets just to get your $10 winnings.
Ease Of Use
Crypto casinos offer privacy and security, but sending and receiving cryptocurrency is a new experience for a lot of players. The last thing you need is a casino that makes the process even more complicated. Ensure the site’s software is easy to use, that you can access information like wallet address quickly and easily, and that you’re happy navigating your way around the game software. If the site offers play money, this is a good opportunity to get to grips with the software before you commit any cash.
Casino Registration
Once you’ve chosen a casino, it’s time to register. While some casino websites demand that you give full personal details, some crypto sites have much lower requirements. You shouldn’t have to wait for payment verification before your account is ready to use, though, which expedites the registration process significantly and enables you to start playing a lot sooner.
Buy Cryptocurrency
Once you’ve chosen the casino, you need cryptocurrency to start playing. You will need to use a cryptocurrency exchange to buy your chosen crypto. Use a reputable exchange, deposit fiat currency, and then buy your chosen coin.
Store Cryptocurrency
Once you have cryptocurrency, you will need somewhere to store it, and there are two options: a cold wallet or a hot wallet.
Hot wallet – Hot wallets are those that are connected to the Internet. They do offer the convenience that you can access them from anywhere where you have an Internet connection, but they are considered less secure. Most exchanges offer some form of hot wallet storage. These are OK for short-term storage, but not ideal for the longer term.
Cold wallet – Cold wallets are not connected to the Internet, which means your crypto is safer while it is being stored. A cold crypto wallet typically installs on a computer or mobile device and enables users to send and receive cryptocurrency. These are more secure, but they do add an extra step to the process.
Depositing And Withdrawing
To deposit funds in your crypto casino account, you will need to get a wallet address from the casino website. You can then use your wallet to send your chosen amount of cryptocurrency, being careful to copy the wallet address exactly. When withdrawing funds, you will provide your wallet address and the casino will do the same. Crypto is typically stored in your chosen cryptocurrency, but the stakes and bets on the website are displayed in their fiat equivalent.
