Bitcoin’s creator—Satoshi Nakamoto—designed the cryptocurrency to revolutionize the financial industry. Satoshi’s goal was to disrupt the banking sector by providing a decentralized currency.
Bitcoin, and most alternative cryptocurrencies, run on a decentralized ledger known as the blockchain. This means no single person controls the blockchain. It is operated by computer nodes located in different parts of the world.
Because it’s decentralized, the blockchain is secure, transparent and immutable. It also acts as a platform for creating decentralized apps, from payment apps to casinos and games.
Crypto casinos work differently from traditional gambling sites, though. Continue reading to learn more:
1—Supports Crypto Deposits and Withdrawals
This is a no brainer. Crypto casinos are named so because they accept digital currencies during deposits and withdrawals. Some operators support hundreds of coins, from Bitcoin and Ethereum to Doge coin and Shiba. However, others only accept the major coins.
Choose a casino that supports your favorite cryptocurrency. If you love Solana due to its speed, find a Solana casino. If you like meme coins like Shiba, look for a casino that accepts Shiba.
Of course, look beyond the supported cryptocurrencies. A site’s games, bonuses, customer service and web layout should also influence your decision.
That’s because the top 3 online crypto casinos to play at don’t actually support tons of coins. They support a few of the well-known cryptos: Bitcoin, Ethereum, Litecoin, Bitcoin Cash and USDT.
Yet, it is in your best interest to plat at these top-rated sites. Not only do they support crypto payments, but they also offer quality services in general.
2—Features Crypto Games
As mentioned, blockchain technology also supports the creation of decentralized casinos and games like slots, roulette, blackjack and craps. In fact, these games are provably fair.
To expound more, you can check the algorithms used to create winners and losers. This makes crypto casino games much more transparent than their traditional counterparts.
But do they offer higher payouts? Sadly, blockchain-based slots and roulette games don’t look at good or payout the high percentages fiat-based games pay. Also, there’s a small variety of crypto games.
Owing to that backdrop, a majority of crypto casinos have slots and table games from mainstream software providers: NetEnt, Microgaming, Betsoft and Evolution, to name a few. But they feature a small library of crypto games targeting crypto aficionados.
3—Minimal or No Verification Required
By law, casinos are required to verify the identities of their customers. This is why you have to reveal your name, addresses and contact details after you’ve joined online gambling platforms.
Crypto casinos aren’t always regulated. And as a result, they are not mandated to verify your identity. This means you can deposit money at a crypto casino, play your favorite games, and cashout your winnings without providing personal details.
Now, to be clear, crypto betting apps come in different forms and shapes. Some of them are regulated. They support bitcoin payments but don’t offer crypto games. Here, verification is compulsory.
Then there are unregulated crypto casinos. These sites have plenty of crypto games. However, they might or might not ask for verification.
Cryptocurrencies support fast payments. The average Bitcoin payment takes 15 minutes to complete. Some altcoins process payments in fractions of a second. Cryptos are so fast because they lack intermediaries.
You see, a wire transfer has to be approved by banks. Credit cards and digital wallets are relatively fast. But they fade in comparison to the fastest altcoins. Although crypto payments don’t have intermediaries, they have to run through the blockchain.
Every crypto payment needs to be verified by computer nodes. This process can take seconds, minutes or hours depending on the specific blockchain. Generally speaking, most crypto casinos support instantaneous deposits and process withdrawals within a day.
Besides speedy payments, crypto casinos also tend to have lower fees and flexible limits. Digital currencies have low fees for the same reasons they are fast. They don’t have intermediaries. When it comes to limits, you can deposit and withdraw between $10 worth of BTC to 10 BTC at most sites.
Since Bitcoin’s invention, the goal of crypto has always been to promote privacy in banking. Satoshi Nakamoto disliked the lack of privacy that surrounds fiat banking.
As we have mentioned severally, not every crypto casino lets you gamble without revealing your identity. You might have to provide your email address. However, crypto casinos try as much as possible to promote your right to anonymity.
Some casinos are truly privacy oriented. Not only do they not ask for personal details, but they also support privacy-oriented coins like Monero and ZCash.
6—Offer Bigger Bonuses
This is one of the best things about crypto casinos. They are pretty generous with bonuses. They might not always offer no deposit bonuses. But they match your first deposit up to 10 BTC.
Assuming one bitcoin is priced at $20,000, 10 bitcoins are the equivalent of $200,000. By comparison, traditional casinos match your first deposit for a maximum of $100 to $1000.
While crypto casinos offer generous bonuses, the amount you receive depends on your deposit amount. If you have a budget of $100, then you will probably receive $100 worth of BTC.
Bonuses are as good as their terms and conditions. So, while you want a generous bonus amount, ensure it comes with fair policies. Look at the wager terms, the cashout limit and other factors.
7—Neat and Secure Websites
Many crypto casinos have websites designed to be user-friendly. They are simple, fast and full of filters. This makes it easy to create an account. Filters, on the other end, helps you choose specific games or bonuses.
When it comes to security, crypto casinos secure your data and bitcoin in several ways. First, they encrypt data through SSL. Secondly, they collect minimal data as we mentioned earlier.
More importantly, most crypto casinos don’t store crypto online. When you deposit Bitcoin or Ethereum to your account, it goes to an offline wallet. In turn, you receive an in-house currency for betting. This currency isn’t worth anything outside of the casino premises, which helps keep hackers at bay.