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How Do Crypto Casinos Work?

Crypto casinos are an exciting online gambling trend with huge future potential. They present promising solutions to a multitude of difficulties that casino players in many countries face when attempting to play safely online.

Cryptocurrencies provide an independent payment solution for casino players on a global scale. With no institutions watching over our transactions, we can transact without intermediaries which reduces fees to a minimum. Our transactions are almost completely anonymous.

Crypto Casinos are casinos that support cryptocurrency (crypto) as a method of payment. There are two types of crypto casinos:

  1. Pure Crypto Casinos: these crypto-only online casinos only accept cryptocurrency as a method of payment.
  2. Hybrid Crypto Casinos: casinos that accept cryptocurrency as well as other payment methods such as debit cards, credit cards, wire transfers, e-wallets, and prepaid payments.

Before you can deposit at a crypto casino, you need to have cryptocurrency in your digital wallet. If you don’t have a wallet yet, you can shop around for a wallet that best suits your needs. Popular crypto wallets are Blockchain, Coinjar, and SpareCoins – but there are many others.

Once you have a wallet, you need to purchase some cryptocurrency to keep in it and spend online. The most well-known cryptocurrencies in online gambling circles are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT), and Dogecoin (DOG). So you’ll want to get a wallet that supports these cryptos. Signing up for most wallets is free and only takes a few seconds.

When you’re ready to deposit at the casino, you can select the cryptocurrency that you want to deposit with. You’ll be given a depositing address, or public key, that you’ll use to complete your crypto deposit at the online casino.

You should keep a copy of the depositing address in a safe place so you can easily refer back to it whenever you need to. However, the casino will supply you with it each time you want to complete a deposit in any case.

To complete your deposit, enter the depositing address and the amount you want to deposit into your crypto wallet account and click the ‘Enter’ or ‘Send’ button. It may take a few minutes for the transaction to be processed and for your casino balance to be topped up.

So you see, the whole process is very similar to using a regular e-wallet to top up your casino account with fiat currency:

Can I Get a Casino Bonus?

Crypto casinos are famous for their generous welcome bonuses and regular deposit bonus offers. You can find the best casino bonus offers right here on this page.

The bonuses you claim when transacting with cryptocurrencies are also subject to wagering requirements, limits, and conditions. So they don’t differ much from regular casino bonuses. Some crypto casinos add the bonus in the same cryptocurrency that you used to deposit, while others might offer you a bonus in a fiat currency such as Euros, Canadian Dollars, or AUS Dollars.

No deposit bonuses are a rare find at crypto-only casinos. If you do find a no deposit offer at a pure crypto casino, it will usually be in the form of free spins, not cryptocurrency credits.

However, many hybrid crypto casinos support cryptocurrency as a payment method and give away no deposit welcome bonuses to new players. These casinos will add the no deposit bonus to your casino balance as regular currency, not crypto.

There’s a benefit to accepting no deposit free spins at crypto casinos. When you play with free spins before depositing, only the winnings on the free spins are subject to wagering requirements.

If you win €50 while playing with no deposit free spins and the casino has a 35x wagering requirement, you have to play the €50 through the casino 35 times before you can withdraw any winnings.

If you don’t win anything while playing with no deposit free spins, the wagering requirement falls away, which means you can deposit without any wagering requirements attached. No deposit free spins are a great way to test drive different crypto casinos before you deposit.

FAQ

Frequently asked questions about Crypto Casinos

Which are the best crypto casinos?

We list the best crypto casinos on this page so that you can easily find them. After rigorous testing, these are the casinos that stood out thanks to their appealing games portfolios, attractive bonus offers, reputable licences, and decent wagering requirements.

Where can I find the newest crypto casinos?

We keep our lists up-to-date, so check them regularly for the latest crypto casinos.

Which crypto casino offers the best welcome bonus?

That depends on you. Some players prefer free spins, others enjoy no deposit bonuses, while other players want a good deposit offer or cashback bonus. The welcome offers we present on this page are the best in our opinion. They have reasonable wagering requirements, flexible betting limits, and few game restrictions.

Why are licensed crypto casinos better than unlicensed casinos?

As long as casinos have a license issued by a trusted regulatory authority, they must adhere to the requirements of the licence to retain it. Regulatory authorities are quick to confiscate a licence when they detect unsafe or unreliable gambling processes during their audits of the casino.

Are crypto casinos safe?

The safety of an online casino depends on the casino’s licence, not the payment methods it supports. To ensure that you are playing at a reliable crypto casino, play at those that hold valid licences.

Are crypto casinos legal?

Yes, crypto casinos are legal. Players should be familiar with the laws associated with online gambling with cryptocurrency in their country of residence.

How do I know if a crypto casino is licensed?

Licensed crypto casinos typically display their licences. You should always verify the licence with the official gambling authority to ascertain if it is valid or not. The crypto casinos listed on SPCasinos are licensed.

What is the maximum withdrawal amount at crypto casinos?

There is no maximum withdrawal limit at the crypto casinos that we recommend. Any limits are transaction limits. If there is a limit per transaction, the entire withdrawal will be paid out over several payments.

Is it Safe to Play at Crypto Casinos?

The fact that cryptocurrencies are decentralised scares some people away from the get-go. There’s no central point that checks or approves your payments. However, it’s exactly this feature that makes crypto casinos so appealing to other players. It also makes crypto casinos very accessible to online gamblers on a global scale.

Here’s some information that will put your mind at ease: all crypto transactions are protected by your own, private key. Playing with crypto is actually more secure than any other payment method. Additionally, licensed crypto casinos encrypt all their payment transactions as well as all your personal data.

Licensed casinos are under the watch of the gambling authorities that issue their licences, regardless of the payment methods they support. Whether you play at a regular online casino, crypto casino, or hybrid casino, as long as it is licensed by a reputable authority, your transactions are safe.

Licensing also ensures the fairness of the games. All the games at licensed casinos are frequently tested by independent third parties, or testing agencies, to confirm that the games are random, fair, and that they payout according to their advertised payout rates.

As we mentioned, the casinos recommended on this site are fully licensed online gambling platforms. If you’re going on your own search for a gambling platform, be sure to play at sites with VALID licences issued by trustworthy authorities such as:

Crypto Casinos Live Games

 

Pros and Cons

There are many characteristics of crypto casinos that make them attractive. When you play with cryptocurrency, your bank account details are not sent to online casinos. You do, however, have to take special precaution to keep your private keys safe.

Crypto casinos are accessible to players around the globe since you don’t have to convert your deposits and withdrawals into different currencies. On the other hand, you do need to have an online wallet and use a crypto exchange to buy and sell your cryptocurrencies. These transactions are usually more affordable than currency conversions.

Unlike bank transfers or payments via debit cards and credit cards, cryptocurrency payments can be processed 24 hours a day, every day of the year. There are no public holidays or special days where the payments system is offline. Crypto payments are also much faster than other payment methods.

As you can see, there are two sides to the crypto coin. The advantages and disadvantages should be considered carefully before you embark on your crypto casino journey. To make things easier, we’ll sum up the pros of crypto casinos here:

The benefits we summarised above might be enough to prompt you to jump on the crypto bandwagon right now. Before you do, consider the following limitations:

There are obvious upsides and downsides when using cryptocurrency as a payment method at online casinos. Since the prospect of winning money is central to gambling, many players may be put off by the exchange fees that come into play when managing cryptocurrency.

It’s worth mentioning that you can reduce exchange fees quite drastically by comparing wallets before you start trading. Some of the more prevalent crypto wallets are free to sign up for and they offer lower fees.

Crypto Casinos Games

Other Similar Services

Crypto casinos occupy a class of their own while, at the same time, not being all that different from regular online casinos.

You can see the similarities by looking at the process involved when playing with cryptocurrency:

  1. Find a crypto casino and sign up for an account
  2. Go to the deposit page
  3. Select the cryptocurrency of your choice
  4. Open your online wallet
  5. Enter the amount you want to deposit and the casino’s wallet address
  6. Click the Send button to complete your transaction
  7. Use your casino balance to play the games

Whether you choose cryptocurrency, e-wallets, or direct transfers as your payment method at online casinos, the process is essentially the same.

Some crypto-only casinos may let you deposit and begin playing immediately without signing up. This service is not exclusive to crypto casinos. There are plenty of instant-play online casinos that support other payment methods, such as Trustly Pay N Play and Zimpler.

At instant-play casinos, you can withdraw your winnings without verifying your account because your account is verified when you deposit. The same is true at crypto casinos. You don’t have to send in your verification documents before you can cash out your winnings because your account is automatically verified when you deposit.

Crypto Casinos on Mobile Devices

You won’t have trouble finding crypto casinos that are fully compatible with mobile devices – most of the best casinos are. Crypto casinos are fully functional on Android and iOS devices. That includes smartphones and tablets.

Because crypto casinos are new and trendy, you’ll find that many of them have dedicated apps that you can download onto your mobile device. On the apps, you’ll usually find a range of games that are only available to players using cryptocurrency. You’ll find these games on the desktop version of the casino too.

Many casino apps aren’t available in the Google Play Store or the App Store because these stores have various restrictions on real money gambling. If you want to download the app, you can get the download link by visiting the casino in the browser on your mobile device.

You don’t need an app to play at the best crypto casinos. You can play directly in your browser without downloading anything. If you’re using your mobile device right now, click on any of the crypto casinos on this page to launch the casino. You can claim the bonus offers, register, or log in if you already have an account.

 

References:

Size of the online gambling market in 2019 to 2023