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Guide to Online Gambling with Cryptocurrency

By Dennis Goodwill
Guide to Online Gambling with Cryptocurrency 101
Photo: iStock-Marko Horvat

Disclaimer: The text below is a sponsored article.

Online gambling is one of the popular pastimes enjoyed by players all over the world. With hundreds of operating online casinos, you will find the opportunity to play real money games from the comforts of home. Each casino will provide access to amazing games from top developers. With a real money account, you can wager and win, just as you would in a land-based casino.

When you are choosing a site to play real money games, you will want to pay attention to the supported banking options. While many players still use credit cards, debit cards, ewallets, prepaid cards, and bank transfers, many have started using cryptocurrencies. With this option, you can safely engage in gambling while remaining completely anonymous. The use of cryptocurrencies also provides enhanced protection. No personal or financial information is sent to the casino, so you can enjoy total security.

What to Look for in Cryptocurrency Sites

When you are making a selection on where to play casino games and use cryptocurrencies, there are a number of things you should consider. You want to ensure you are engaging in a safe and secure experience at a trusted site. Your chosen online casino should be licensed and regulated and also offer a Privacy Policy that will protect all sensitive information.

Cryptocurrency sites will support a variety of cryptocurrencies, so be sure your preferred site offers the crypto you normally use. You will also want to make sure that you can redeem provide bonuses and promotions when you are making deposits using this form of payment.

Just as when choosing any online casino, take time to learn about the software that is being used. This will play a role in game selection as well as payout possibilities. Always choose a site that uses reliable and reputable software. Such as NetEnt, IGT, Microgaming, Playtech, WMS, and others.

The security measures taken by the casino are also important. You want to make sure that all transactions are conducted using encryption software and that the casino stores your information on a secure server. You will also want to check out the customer support options. Make sure support is easy to obtain and that it is available 24-hours a day.

Different Cryptos to Use

You will find that many online casinos are starting to cater to players who use cryptocurrencies. While you may have already heard of Bitcoin, there are a number of other trusted and popular options that are available. The newer casinos that are entering the industry will be supporting a number of these options, so you should become familiar with this if you wish to use a cryptocurrency the next time you gamble online.

Dash – This is a popular crypto option and it launched 6 years after Bitcoin. It is a bit faster and offers extreme privacy. With this method, you can make deposits between $20 and $25,000 and can withdraw from $20 to $10,000. There are no fees, making this one of the preferred options being supported at casino sites.

Ethereum – This digital currency can be traded like Bitcoin, but it can also be used to run applications. The deposit and withdrawal limits are the same as with Dash and again, there are no fees.

Litecoin – This was the second cryptocurrency to be introduced and it is a faster alternative to Bitcoin. With Litecoin, the blockchain is four times larger. It works in the same way that Bitcoin does, so it is easy to use, making this a great choice for any online gambler.

Some other cryptocurrencies you will see being supported at online casinos include:

• Ripple
• Zcash
• Dogecoin
• Monero
• Novacoin
• Stratis

Enhanced Safety for Players

If you are looking to gamble for real money online, you will want to ensure your safety. The technological advancements of cryptocurrencies provide online casinos and software developers with the ability to offer more safety for players. For players, using cryptocurrencies will keep them safe from the government as winnings are not recorded or filed with the IRS. With the level of anonymity offered when using a cryptocurrency, players can remain completely secure as they engage in real money play at leading casino sites.

Another way in which players are protected is due to the fact that no personal information is provided to the online casino. When using a cryptocurrency, all personal and financial data remains secure and will not change hands.

Larger Selection of Casino Sites

Many players will find they are restricted from conducting real money transactions at international online casinos due to local gambling laws. When using a cryptocurrency, these laws are no longer an issue. Instead of having to use a credit or debit card, players can simply opt to use a popular cryptocurrency, eliminating the restrictions on banking methods.

This provides players with many more choices when they are selecting an online casino. Each site will provide fast, safe, and secure transactions, so players from around the globe can enjoy gambling online and winning real money when they manage their accounts using a popular crypto.

Drawbacks of Using Cryptocurrencies

We have discussed some of the positive attributes of using a cryptocurrency at an online casino, but you also need to be aware of some of the drawbacks. Using this form of payment is not a complete remedy as there are some flaws. Check out some of the disadvantages of using a crypto when gambling online.

Not Many Crypto-Only Sites – Even though more and more players are turning to cryptocurrencies to fund and manage casino accounts, there are not many sites that are cryptocurrency-only. Most of the operating sites will still offer traditional banking options and you will be required to enter persona; information, even when using a crypto. This places you at risk for cyber attacks. The best option is to locate a casino that only supports the use of cryptocurrencies, though there are not many of these operating at this time.

Volatility is an Issue – When you play using standard banking options and currencies, the value of these will not change much. However, the value of a cryptocurrency can fluctuate quickly. If it moves in a positive way against the dollar, this is to the player’s advantage, but there is always the chance it will move the other way reducing the overall value of your cryptocurrency.

Licensed Casinos – Unlike casino sites that make use of traditional banking methods, sites that oy support cryptocurrencies are not required to be licensed to operate. While there are some trusted casinos that are operating, players are more prone to choose sites that are fully licensed and regulated so they are ensured protection.

In Conclusion

Before you make the decision to gamble online using a cryptocurrency, make sure you have done some research and have found a casino that will offer complete player protection. Online gambling is always a risk, but with cryptocurrencies, you can play anonymously and have some great chances at winning. With fast transactions, no or low fees, and great paying bonuses, crypto casinos will offer you a great experience and can provide hours of entertainment with outstanding opportunities to collect cash payouts.

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