Crypto Gambling 2023 Explained – Start Gambling with Crypto Like a Pro Today
A lot of online gamblers have discovered cryptocurrencies over the last few years. They started crypto betting and, for many, betting cryptocurrency is more convenient. With over 12,000 cryptocurrencies out there, people can now choose what coin to gamble with.
With the popularity of crypto gambling, numerous online casinos made this payment method available. They offer a wide range of casino games, as well as options for sports and eSports. Before you use a crypto gambling site, though, you must understand what gambling with cryptocurrencies involves.
In this post, we are going to explain crypto gambling and give you advice on how to find the best crypto casino.
Crypto Gambling – What Is It?
Cryptocurrencies refer to digital currencies that people can buy, sell, exchange or trade on specific platforms. The cryptocurrency concept appeared back in 2009 when someone wanted to pay for services online but anonymously. Satoshi Nakamoto was the person behind it.
As such, he came up with the decentralized digital currency idea, and things evolved from there. Bitcoin is the most popular currency at the moment, available on most crypto exchanges. It is also the most widely available crypto used for payments. As time passed by, more cryptocurrencies were developed, and now the world has thousands to choose from.
Crypto gambling is something that emerged later when people started to get a taste of the benefits of cryptocurrencies. Now, people don’t necessarily need to use fiat currencies to make bets and gamble on casino games. Instead, they can use Bitcoin gambling.
Crypto transactions are recorded on unique digital ledgers, and the transactions can then be copied and kept on several computers safely. As a result, users have protection from third parties, and they can maintain their anonymity.
It is why so many crypto gambling sites emerged and why so many people prefer gambling with Bitcoins. The most common cryptocurrencies used for gambling include:
- USD Coin
- Bitcoin Cash
Pros of Crypto Casino Websites
When you gamble bitcoin, you are bound to have positive experiences, especially if you are lucky enough to find the best crypto sports betting sites.
Bitcoin gamble websites indeed have some benefits, and here are some of them:
- Better Fees
When you start gambling coins on crypto betting platforms, you will notice that the fees are lower. Usually, there are low transaction fees or no fees at all. It is much different compared to betting with fiat currencies, as it allows you to save some money too.
- Convenient Welcome Bonus
People who decide to gamble bitcoin will be welcomed with open arms by crypto casinos. This is because the platforms offer welcome bonuses and promotions for new members. This way, you’ll be able to enjoy your gambling experience from the get-go, whether you engage with cryptocurrency sports betting or casino games.
Gambling with bitcoin allows you to maintain your anonymity. You can deposit cryptos without having to reveal any personal information. This is much safer than betting with fiat currencies.
Cons of Crypto Casino Websites
Betting on bitcoin also comes with some disadvantages, of course. These include:
- Crypto Volatility
Cryptocurrencies are very volatile, and this can be risky. If the exchange rate goes down, then you can end up losing all of your savings. It is the last thing you want to deal with.
- Limited Crypto Range
Especially when it comes to new crypto casinos, the coin selection can be pretty limited. Crypto licensing agreements are not that cheap, so the sites will allow very few cryptos. Of course, they may add more in the future, but it will take a while.
For this reason, it will take some time to find a crypto betting platform that meets all of your needs.
How to Choose a Crypto Betting Platform?
Finding top online crypto casinos can be challenging, particularly when you’re just getting started with crypto gambling games. But there are a few aspects you can pay attention to in order to ensure you settle for a good, reliable platform:
One of the first things you must check is whether the crypto betting site has a license or not. Every single crypto gambling casino should have a gambling license from a jurisdiction. Before trusting a platform with your money, look for a license and verify whether it’s a legit one or not. It can tell you if you’re looking at a reliable platform or a scam.
- Withdrawal Limits
You want to be able to withdraw your crypto funds at any time. However, not every platform allows you to withdraw the desired amount or make too many withdrawals.
When you stumble upon a casino, it’s crucial to look at the details regarding its withdrawal process. Check whether your preferred cryptocurrency is accepted by the casino. Also, find out if withdrawals are allowed daily, weekly or monthly, and how long it takes for the funds to reach your account after cashing out.
On top of that, you should check what fees are associated with withdrawals. Some bitcoin gambling sites have lower fees, while others will ask for higher amounts. Usually, you cannot avoid paying fees when withdrawing funds.
- Customer Reviews
Customer ratings and reviews are a great way to get an insight into a crypto casino. They will tell you the good and the bad, so you know what to expect. Look on reputable review websites and check out what people have to say. If there are too many negative reviews, it’s a red flag.
Also, pay attention to what people say regarding their experiences.
Online gambling with bitcoin has already become the norm for many people. It is easier to gamble with cryptocurrencies when you think about the anonymity involved, as well as the lower fees.
For the best experience, you need to find the top betting platforms. Use the tips in this guide to pick a trustworthy crypto casino.