In 2020, social distancing and public lockdowns had closed the doors of several casino establishments around the world. Professional gamblers who make their living at casinos start signing up at online casinos. During their initial weeks of online gambling, almost every player came across an invite for crypto casinos. However, not many knew what crypto casinos. And, several questions needed to be answered before anyone could join a crypto casino.
What is Crypto Casino?
First, the crypto casino is an online gambling platform that operates like a regular online casino, except it accepts payments in cryptocurrency. To play at a crypto casino, players need to convert their deposits from fiat currencies to cryptocurrencies such as Ethereum, Bitcoin, Litecoin, and Bitcoin Cash, among others.
FAQs Related to Crypto Casino
Besides the basic information, here are some of the frequently-asked questions on crypto casinos. The answers to these questions have been derived from reliable sources and trusted gambling reviewers.
Is it legal to play at a crypto casino?
Online gambling is not legal in most countries. Hence, crypto casinos are also not completely legal for players around the world. Most crypto casinos are located in offshore regions such as Malta, where the gambling commission is flexible to allow cryptocurrency and other such facilities for crypto casino operators. However, the legal status of crypto casinos varies from country to country. Due to the volatile nature of crypto transactions, running a crypto casino is illegal in the US and most parts of the world. However, few regulations curb players from other countries to play at crypto casinos headquartered in Malta.
What are the key differences between crypto casinos and traditional casinos?
There are only two main differences between crypto casinos and traditional casinos. Crypto casinos accept payments in fiat currencies and cryptocurrencies, whereas traditional casinos accept payments in fiat currencies only. Traditional casinos do not offer the high level of transparency that crypto casinos provide for the transactional data of players.
Are crypto casinos safe?
Crypto casinos are protected by the end-to-end encryption of blockchain technologies. Multi-layered security protects the transactional data flowing in and out of the crypto casino. At the same time, top crypto casinos are equipped with Provably Fair Gaming mechanisms. These algorithms ensure that no instance of cheat or fraud occurs at crypto casinos. Provably Fair also protects players’ information from competitors.
How to sign up at a crypto casino?
There are four steps to signing up at a crypto casino:
- Step 1: Visit the crypto casino website and fill up the sign-up form with your name, email address, and phone number.
- Step 2: Complete the online account verification through OTP authentication.
- Step 3: Open a new account on the crypto account integrated with the website.
- Step 4: Add funds to the account via credit card, crypto wallet, or online payment gateways.
Please note that the funds deposited in crypto casinos are converted into cryptocurrency beforehand. The casino does not allow to deduct the deposited funds without playing. However, most crypto casinos offer additional funds as sign-up bonuses.
Which are the best crypto casino games to play?
Bitcoin Dice, Blackjack, and BitKong are the best games to play at crypto casinos.
- Blackjack: The popular casino table game of blackjack is available on all crypto gambling websites. It is played with Bitcoin and other standard cryptocurrencies. Double Exposure, Pontoon, and Multi Hand Blackjack are some of the popular game variations available at the crypto casino. The game rules remain the same – the player wins a prize if he or she gets closer to 21 before the dealer.
- Bitcoin Dice: It is a popular game in the crypto gaming world. The game was invented as SatoshiDICE, inspired by the founder of the first cryptocurrency – Satoshi Nakamoto. Contrary to the other flashier crypto casino games, Bitcoin Dice is simple. The players’ bets on whether dice would show higher or lower value and rolls the dice. If the value matches the bet, the player wins the boot prize.
- BitKong: In the game of BitKong, players can become addicted to its fun elements. The idea of BitKong is the player has to move their way through a grid. While moving, the player guesses where the fruit is hidden. If the guess is correct, the player moves up, and the bet multiplies.
Why would people use cryptocurrency for gambling?
Professional gamblers are always looking for new ways to maximize their winnings. Well, cryptocurrency is perhaps a sought-after way of doing so. The increasing value of Bitcoin and other cryptocurrencies is one of the main reasons why people prefer crypto gambling. Every winning gains value over time as the price of the cryptocurrency grows astronomically. Cryptocurrency is also readily available for gambling due to the easy access to decentralized exchanges.
What are the benefits of a crypto casino?
All crypto casinos charge zero transaction fees, enabling players to save money and bet more. Most crypto casinos allow unlimited daily transactions. Players can deposit and withdraw from the casinos as much as they want. The anonymity of the players and their transactional data is guaranteed by the crypto casinos. Moreover, crypto casinos keep the players engaged with a wide range of gaming variations.
Which is the best crypto casino?
There is no single crypto casino that is considered the best. However, FortuneJack, Cloudbet, mBit, and 7bitcasino are the Top Bitcoin Casinos globally.
Placing bets at a casino is always risky, be it at a physical casino or a crypto casino. These answers are aimed to answer the concerns of people towards crypto casinos. In the years to come, crypto casinos are set to become the future of online gambling.