Types of Crypto Casinos
There are several online crypto casinos, depending on the crypto coin you decide to use. Below are the common types of crypto online casinos you can choose from.
How to Deposit in Crypto Casinos
Like standard casinos, you need to deposit funds into your desired crypto casino account before you can start wagering real money games. Follow the step-by-step guide below on how to deposit into your crypto casino account.
Open a Crypto Wallet
Opening a crypto wallet is the first step to depositing at a crypto online casino. This is where you will keep all your crypto coins. The step to opening a crypto wallet is easy. But first, you must decide what type of wallet you want. There are three main wallet types – online, software, and hardware wallet.
Online wallets are one of the most popular wallet types that you’ll find among gamblers. This type of wallet doesn’t need to download any app or software to your device. You can access them directly from your web browser. While this is not the safest method of keeping your coin, you can easily access them without stress.
Another type is the software wallet, and unlike the online type, you need to download and install an app on your device before you can use them. This option provides better security than online wallets. Software wallets require you to back up the passphrase associated with your private key.
Hardware crypto wallets are the safest, but it’s only recommended for high-roller players. This crypto wallet doesn’t expose your private keys to online threats. With hardware crypto wallets, you’ll be saving your private keys on offline devices like a flash drive with hardware crypto wallets. Hardware wallets are easy to use as you can connect them to your computer or other devices.
Deposit Money into Your Crypto Wallet
Now that you have a crypto wallet, it’s time to deposit money into it so you can use it at your desired online casino. You need to visit a crypto exchange platform like Coinbase; then, you can use fiat currencies, like Visa or Mastercard, to purchase the coin you want to use.
For instance, if you’re playing at the best Bitcoin casinos, you’ll need to fund your crypto wallet with bitcoin before you can access real money slot games and bitcoin casino bonuses.
Deposit Money into Your Casino Account
After you have deposited your chosen crypto coin in your wallet, it’s time to deposit money into your casino account. Now, you need to log into your account using your username and password. If you don’t have an account, follow the steps below to create an account with any online crypto gambling site.
- First, you need to choose a casino that accept bitcoin or any other cryptocurrencies like bitcoin cash and Ethereum. Mbit casino is one of the best crypto bitcoin gambling sites that offers the best bitcoin casino gambling experience.
After that, visit the official site and click the Join Now, Register, or Sign up button to access the registration page.
- You need to fill out the signup form with details like your name, email address, contact information, date of birth, username, and password. Ensure the information you supply is accurate, as you may be required to verify them during withdrawals.
- Some casinos will request you to verify if you are over 18 years and also accept the terms and conditions.
- Then, you can click on the Submit to Register button to complete the signup process. You’ll get a link via email – click the link to activate your account.
Now that you have an active account with a crypto online casino site, you can follow the steps below to make your first deposit bonus.
- Go to the cashier section and click on deposit to make your request.
- Like regular online casino sites, choose from the available payment options. But this time, select the type of cryptocurrency you want to use.
For example, if you’re paying with bitcoin, choose it from the available option and copy the wallet address. Then open your wallet to transfer the qualifying amount. It’s vital that you check the minimum deposit requirement required to claim the casino welcome bonuses and free spins. - Once you make the transfer, it’ll reflect in your account instantly, and you can start playing bitcoin games like progressive jackpot slots, dice games, poker games, and slot table games.
Used Technologies at New Crypto Online Casinos
The use of cryptocurrencies at online gambling sites is growing fast, and we see new crypto online casino sites joining the trend. This is because of the benefits associated with crypto online casino gambling.
New casinos that want to strive in the industry use state-of-the-art technologies to ensure that players get the best experience when they play with them.
Below are some technologies used at new crypto online casinos.
HTML 5
This is one of the technologies used by the new crypto casino gambling platform. As most US gamblers spend much of their time on their mobile devices, new crypto online gambling casino sites use this technology to ensure that their site and crypto live casino games are fully accessible across all mobile devices – Windows, iOS, and Android.
Secure Socket Layer Encryption
Another technology new crypto online gambling casinos use is the Secure Socket Layer encryption technology (SSL), which keeps players’ information safe and secure from unauthorised access.
Blockchain
This is one of the reasons why crypto online casino sites exist. This technology creates a system that’s very challenging to break or hack. It makes it easy for crypto casino sites to offer several benefits like security, anonymity, low transaction fees, and system transparency.
Most US players might wonder about the difference between standard and cryptocurrency online casinos. While traditional online gambling casinos also offer incredible gambling experiences, crypto casino sites provide much more. Below are the differences between a traditional online gambling casino and a crypto online casino.Standard vs Cryptocurrency Online Casinos
Pros & Cons of Crypto Casinos
Crypto casino gambling sites are a great gambling destination for all United States players. However, cryptocurrency gambling sites also come with their downsides. This section will explore the pros and cons of choosing a crypto casino over a traditional online casino.
Pros
- The virtual currencies are decentralized, you’re in full control of your funds.
- Crypto transactions charge you little to no fee during deposit and withdrawal of the winnings.
- Transactions through cryptocurrencies offer you anonymity.
- Cryptocurrencies like bitcoin and bitcoin cash are accepted globally without bank or government involvement.
Cons
- You can’t reverse your crypto transfer.
- Crypto coins are volatile.
- There is no recourse. If your crypto tokens are subject to theft, you may not be able to retrieve them again.
Advantages of Using Crypto Currencies at Online Casinos in Detail
One of the benefits we like about using crypto at online casinos is that these virtual currencies are decentralized, just as we mentioned above. This means you’re in full control of your funds as they are not associated with banks or government agencies. No one can block or freeze your account. But that’s not the only advantage to using a cryptocurrency at online casinos.
Transaction Fee
Online casinos charge you a high transaction fee when you use traditional payment methods like Visa, Mastercard or bank transfers. Notably, crypto transactions at a bitcoin sports betting site will charge you little to no fee when depositing or withdrawing winnings from your account.
Anonymity
Another benefit of using cryptocurrency at an online casino is anonymity. Whenever you transact at online bitcoin casinos, you don’t need to provide any personal information – all you need to supply is your wallet address. Interestingly, some crypto online casinos offer full anonymity where you can wager your favorite bitcoin casino games without providing any details at all.
Worldwide Acceptance
Cryptocurrencies like bitcoin and bitcoin cash are widely accepted without bank or government involvement. This means that bitcoin transactions work similarly at every other casino, regardless of the country where you reside.
Disadvantages of Using Crypto Currencies at Online Casinos in Detail
No Reversal
Once you transfer bitcoin or any other crypto coin from your wallet to an online gambling site, you can’t reverse it again. This is one of the reasons why you need to only play at the best bitcoin casino sites.
Volatility
Crypto coins are also very volatile, which results in a high amount of fluctuation. For instance, if you play at a BTC casino, the volatility will only affect you when trying to change your coin back to fiat currency, as you may lose some value during conversion. Also, you will likely gain some value when converting your bitcoin to cash.
No Recourse
No one owns the crypto blockchain. So if you experience any issue, you may find it challenging to resolve. Though your crypto casino or wallet provider will provide a certain level of customer support when you have issues, they have no control over the blockchain. For instance, if your crypto tokens are subject to theft, you may not be able to retrieve them again.
Banking at Crypto Online Casinos
US gamblers will find it easy to bank at crypto casinos. You can deposit and withdraw your winnings without stress. At crypto casinos, you’ll have access to a wide range of virtual currencies you can use to transact. These include but are not limited to Bitcoin, Ethereum, Bitcoin Cash, USDT, Dogecoin, Litecoin, and Ripple.
However, some currencies are more popular than others. So you need to ensure the casino you choose accepts your desired currency before creating an account.
We already went over the deposit process earlier in this article. So this section will walk you through how you can withdraw your winnings and what can delay your processing time.
How to Withdraw Winnings at Crypto Casinos
Like the deposit process, withdrawing your winnings at crypto casinos is straightforward. Follow the simple guide below to get started.
Log into Your Account
First, you must log into your account at the crypto casino of your choice. Locate the cashier section. Make sure you meet the wagering requirements before withdrawing your bonus funds.
Pick Your Cryptocurrency
Choose the cryptocurrency you want to use for your transaction. In some casinos, you don’t need to use an external site as a hot wallet since the casino provides that option.
Enter an Amount
Then input the amount you want to deposit. Ensure your wallet address is correct to avoid losing your funds. Crypto transactions are irreversible.
Complete the Transaction
Once you confirm your details, click the Submit or Withdraw button to complete the transaction. You'll receive the funds in your wallet within a few minutes.
What Are the Possible Reasons for Crypto Withdrawal Delays?
Some things can delay your withdrawal processing time if you’re not careful. One of them is the bonus wagering requirement. If you receive a welcome bonus from an online gambling site, you must satisfy the wagering requirement before withdrawing your winnings.
For instance, if you receive a $50 bonus, it comes with a 20x wagering requirement. You need to wager the fund 20 times to get $1,000 before you can cash out.
Another factor is the KYC verification process. Most crypto online casinos will request that you submit documents like an ID card or driver’s license to verify your identity before withdrawing.
Conclusion
Cryptocurrencies are getting more popular among gambling sites in the US. Now you can access a wide range of casinos that accept crypto coins. It’s essential that you check the casino well before you choose it.
First, ensure that local gambling authorities fully regulate the casino in the US or offshore regulatory bodies like the UK Gambling Commission, Curacao eGaming, and the Malta Gaming Authority. We have provided you with a list of the best crypto casinos that you can trust.
FAQ
Is crypto casino gambling safe for US players?
Yes. Provided you play at a regulated crypto casino, you have nothing to worry about. For your comfort, you can choose from our list of recommended crypto online casinos.
Will I lose my deposits at USA crypto gambling casino sites?
USA gamblers should always be prepared for the worse when they play live casino games or slot machines. Winning in these games is by chance, so ensure you only play slot games with the money you can afford to lose.
Do crypto online casinos offer free spins and deposit bonuses?
Yes. Most online casinos offer several bonuses, like free spins and deposit bonuses. Interestingly, some crypto gambling casinos offer to reload bonuses to regular players at the site.