A cryptocurrency casino is an operator that allows deposits and withdrawals in digital currencies. The number of crypto casinos has been skyrocketing worldwide in the last years.
Crypto casinos are licensed gambling operators that offer deposits, withdrawals and bonuses in Bitcoin or other digital currencies. Most crypto casinos also offer provably fair games using blockchain technology and open source software.
You may be wondering – how can I play safely using Bitcoin or other cryptocurrencies and where should I register?
In order to answer this, we have to first make a distinction between licensed crypto casinos and crypto gambling sites.
As we mentioned previously, the operations of licensed crypto casinos are overseen by a central regulatory body such as Malta Gaming Authority or Curaçao Gambling Commission. That translates into higher quality standards and increased player protection. Such is the case of popular international casinos such as Bitstarz, Fortune Jack or Playamo.
Megaways crypto gambling sites, on the other hand, are typically not licensed by any regulatory body. They will offer the option of playing crypto games for free or for real money, completely anonymously. Many crypto gambling sites will also give their first time users free credits paid in Satoshi or Bitcoin Cash.
The only Megaways crypto casinos we can consider 100% safe are those that are licensed by a regulatory body and display that information transparently in the footer section of their website. That is because, in the case of any withheld funds or complaints, you can raise your concerns with the governing body.
For example, Malta Gaming Authority has a dedicated support line on their website and offices you can visit in person if you’re a resident of Malta. You can use both to get help and resolution if you’ve encountered issues with any operator regulated by them.
On the other hand, crypto gambling sites are in a bit of a grey area. Some are owned by private entities and unregulated by any central authority, meaning that there’s no one to raise your concerns with if your account has been hacked or your withdrawal hasn’t been processed.
Although some crypto gambling sites are well established on the market for years and may offer customer support, decent bonuses and payouts, the lack of a governing body to oversee their operations can still pose a risk long-term.
The legality of crypto casinos differs from region to region, as every country has a different attitude towards cryptocurrencies and varying regulatory frameworks.
For example, countries like China, Russia, Vietnam, Bolivia, Columbia and Ecuador have banned Bitcoin and other cryptocurrencies, meaning that residents from these areas can only gamble online using FIAT currency (USD, EUR, RUB etc.).
On the other hand, the United States, Canada, Australia and some European countries have a more open approach to digital currencies and allow them to be used for various purposes, including gambling online. Citizens of US states Delaware, New Jersey and Nevada, for instance, can deposit, withdraw and bet using cryptocurrencies, as current regulations do not specifically prohibit them for gambling purposes.
Crypto casinos are typically legal in countries that allow online gambling and have an open approach to blockchain technology and cryptocurrencies in general. One common requirement for operators to bring their services to residents of crypto-friendly countries is to have a license from a local or off-shore regulator.
However, we should also mention that some countries don’t see digital currencies as real money at all, meaning they don’t apply the same regulations they do to FIAT money.
According to coinmarketcap, there are over 5000 cryptocurrencies currently in existence. That can make the task of choosing the right ones for gambling so much harder.
You should make sure you only gamble with recognized cryptocurrencies that have a large marketcap, active developers working to improve the network and widespread adoption.
There is a reason why crypto top casinos only integrate with digital currencies that have widespread adoption and clear use cases (either they are a store of value or digital gold like Bitcoin or used in peer-to-peer decentralized transactions like Litecoin or Bitcoin Cash).
Bitcoin is the world’s largest cryptocurrency by market cap. It uses a proof-of-work system to validate transactions, meaning that any deposits and withdrawals you make at online gambling sites need to first be confirmed by the miners securing the network.
As opposed to using a credit card or bank transfer, your personal and financial data doesn’t get revealed when you do a Bitcoin transaction. However, the record of the transaction still gets stored on the public blockchain.
There are many ways to safely acquire Bitcoin to use for gambling purposes – you can have a friend send it to your wallet address or buy it using FIAT currency from reputable exchanges such as Binance, Kucoin or Crypto.com.
Ethereum is the second largest cryptocurrency by marketcap and it offers a decentralized platform for creating smart contracts. That means its native coin, ETH, can be used for multiple purposes, not just as a currency (e.g.: lending, staking). Ethereum offers fast and secure transactions (10 minutes on average), but its fees can be rather high, especially if the network is busy.
Monero is one of the oldest cryptocurrencies. It was launched in 2014 and it uses the native token XMR. Monero is known as a privacy coin, being the only cryptocurrency that offers completely anonymous and untraceable transactions online. Monero is the go-to for gamblers who want no paper trail of their transactions – this is ensured through the use of multiple layers of encryption and, as opposed to Bitcoin and Ethereum, in the case of Monero, transactions don’t get recorded on any blockchain.
There are multiple ways of storing your crypto safely online or offline.
The bottom line is that you should never keep your coins on the exchange, as there have been multiple instances of hacks, funds and data theft (Mt.Gox is just one famous example). Instead, you should store them in a custodial or non-custodial wallet. If you go for a custodial wallet, you essentially trust a third party to manage your funds for you. Some popular examples of safe and reputable companies that provide this service are Coinbase and Crypto.com.
If you want full control of your private keys (or the 12-word recovery phrase unique to every crypto wallet), you should look into non-custodial wallets such as:
The basic process remains the same, irrespective of the cryptocurrency in question.
Once you’ve acquired your crypto from an exchange or a peer-to-peer service, all you need to do to make a deposit is scan the QR code that reveals the casino’s unique deposit address or insert it manually when sending funds from your wallet.
Then, you will typically need to wait between a few minutes and a few hours for the transaction to be confirmed on the blockchain and pay a small fee for the service.
Be advised that every cryptoccurency has a different network that needs to be used when making a deposit – for example, you can only send BTC to a BTC deposit address. Failing to do so means your funds get permanently lost, as there is no way of reverting a crypto transaction.
Withdrawals are done in a similar fashion – simply sign into your casino account, select the crypto amount you wish to withdraw and insert your corresponding wallet address.
Choosing a trustworthy cryptocurrency Megaways casino is easier than ever – mainstream adoption of digital currencies has increased exponentially this year. More and more countries and central banks are embracing digital currencies.
This adoption has further stretched into the iGaming space – operators offer a variety of cryptocurrencies for deposits and withdrawals and players seek them for the privacy and anonymity they offer.
Here are our top picks for best crypto casinos to play at:
Bitstarz is one of the most popular crypto casinos accepting players from all around the world. It is an award-winning casino holding multiple distinctions at top industry events such as ”Best Support 2020” granted by Casinomeister. Among the perks offered to the players there is a doubled first deposit of 100% up to 1 BTC and 180 spins, plus a wide range of online slots, table games and Bitcoin games (Aztec Magic Deluxe, Blackjack, Live Roulette etc.).
Fortune Jack brands itself as a ”pioneer of Bitcoin gambling”. It is one of the first operators to accept digital currencies and it’s been around since 2014. Today, they offer players over 1200 games and bonuses of up to 6 BTC or $1200 on their first four deposits on the platform.
Players can deposit and withdraw in both popular cryptos such as Bitcoin, Litecoin, Dash, Ethereum and Zcash, but also FIAT currencies (Euro, British Pound and RUB).
mBit Casino is an operator owned by Dama N.V and licensed by the government of Curaçao. They offer over 2000 Bitcoin games, from blackjack to roulette and craps, with cash-out under 10 minutes. They also have many frequent promotions, a live chat function for players to interact, VIP perks and one of the most attractive welcome packages on the market – 5 BTC + 300 free spins.
Megaways crypto gambling sites shouldn’t be viewed as too different from regular casinos when it comes to the software providers they use. The vast majority of crypto casinos have slots, table games, online poker and live dealer games from the most prestigious game studios and software providers in the industry such as NetEnt, Microgaming, Playtech, Endorphina, Pragmatic Play, iSoftBet, Evolution Gaming or Play’N GO. The only major difference is that all of these titles can be played using Bitcoin and other digital currencies.
An aspect that sets apart Megaways crypto casinos when it comes to their offer is that most of them have provably fair games.
This is possible thanks to the use of blockchain technology and an open source, decentralised software that determines winners. Because it’s so transparent, no one can temper with it and anyone can verify its validity.
Operators will usually publish their methods of verifying each transaction and how they ensure the random character of each game session somewhere on their website. Fair games are guaranteed using open source algorithms for random seed generation, alongside hashing and RNG technology (Random Number Generator).
Because players can check the fairness of every game session and its results, cheating is technically impossible and there is no need for a third party to verify the games (e.g. organizations such as eCOGRA).
Some of the most popular games found at crypto casinos include various dice types (classic dice, ultimate dice), plinko, roulette, keno, baccarat, video poker, online slots and live dealer games. Another advantage is that crypto games tend to have a lower house edge overall compared to the ranges offered by regular casinos.
Megaways™ crypto casinos offer much of the same bonus types we find at standard casinos, from no deposit bonuses to welcome packages or free spins.
For fans of Megaways™ slots, you’ll also be pleased to learn many crypto casinos have plenty of games with this revolutionary mechanic that can be played with BTC, such as Power of Thor Megaways™, Christmas Carol Megaways™, The Dog House Megaways™ or Buffalo King Megaways™.
Some aspects to consider when browsing the market for the best Megaways™ crypto casinos are:
Short answer? It depends on the player. If what you’re seeking is increased privacy, fair odds and software transparency for your next game session, crypto casinos are definitely the right choice for you.
All you have to do is go to your crypto wallet, scan the casino’s deposit address with your mobile device or insert it manually, specify the crypto amount you wish to send and confirm.
The safest way to store your crypto is on a hardware wallet that is not connected to the internet such as Trezor or Ledger Nano.
Yes, most of them prefer to pay bonuses in BTC, but there are some that pay in other popular cryptos like Bitcoin Cash, Ethereum or Dash as well.
The legality of crypto gambling sites depends on the jurisdiction they operate in. Some countries explicitly ban cryptocurrencies for gambling purposes, whilst others permit it if the website is regulated by a central authority.
Not all of them, but the vast majority do, as it’s a very popular game mechanic, especially crypto casinos powered by NetEnt or Playtech.
The same ones you can find at regular casinos – no deposit bonuses, welcome bonuses, free spins, VIP perks. The only difference is that they are usually paid in BTC instead of FIAT.
Yes, many of them will allow you to play their titles entirely for free or even give you free BTC credits to use on your first visit.
Yes, there are many crypto casinos that don’t require any KYC checks such as Blockchain.Poker, Coin Poker, Bitcoin.com, Ignition Casino and Crypto Games.
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