Ever since the genesis of Bitcoin in 2009, cryptocurrencies have had a firm impact on the world of online transactions. After the gambling world moved to the online space, it wasn’t long until crypto became the darling of the online casino world too. From the get-go, cryptocurrencies proved attractive to casinos as a totally unique ‘universal currency’.
Thereafter, it didn’t take long for the players themselves to pick up on all the advantages of crypto gambling. From provably fair games, to complete anonymity, low transaction fees, instant payments and ever-growing jackpots, Bitcoin casino brands soon became legendary.
Over the last decade, we have seen thousands of new cryptocurrencies (known as ‘altcoins’) surge in popularity, many of which have been taken onboard by existing online gambling establishments. As a result, many of the crypto-based casinos that you’ll find today are catering to a wider market, are more secure and have far sleeker processes. At the end of the day, that’s what technological progress is all about, right?
Table of Contents
- Best Crypto Casinos
- Cryptocurrencies Available at Crypto Casino
- Advantages of Crypto Casinos
- Biggest Winners On Crypto Casinos Around The World
- Play with Your Favorite Cryptocurrency!
Best Crypto Casinos
In recent years, the original Bitcoin casinos (that we’ve come to know and love) have taken newer cryptocurrencies on board, broadening their scope to cater to a wider range of player preferences. At the same time, we have seen brand new online casinos dive headfirst into the crypto game, accepting a host of novel cryptocurrencies from the moment they open their digital doors.
Overall, the crypto gambling landscape looks pretty damn exciting. That’s why we are constantly keeping our eyes open for new developments in the scene, so you can get the most out of gambling with crypto. Below, we’ve compiled a list of our favourite crypto casinos to grace the online gambling space.
Cryptocurrencies Available at Crypto Casino
The most popular cryptocurrencies accepted by online casinos are the following:
- Ethereum (ETH)
- Monero (XMR)
- Bitcoin (BTC)
- Litecoin (LTC)
- Dash (DASH)
- Bitcoin Cash (BCH)
- Tether (USDT)
- Dogecoin (DOGE)
- Tron (TRX)
- Zcash (ZEC)
- Ripple (XRP)
- Verge (XVG)
- NEM (NEM)
- Stellar (XLM)
Advantages of Crypto Casinos
Cryptocurrency has been all the rage for a few years now, with stories of investors making miraculous leaps to millionaire status and reports of multinational corporations investing billions into the industry. While all this is true, it’s not the only reason why online gambling establishments have climbed aboard the crypto bandwagon.
When Bitcoin launched back in 2009 its primary purpose was to create a peer to peer payment system that no longer needed to rely on third parties. In other words: cryptocurrencies let us sidestep the involvement of big banks and financial institutions in our everyday transactions.
This ‘decentralised’ model has remained at the core of each and every new cryptocurrency’s design.
That is all very well, but what does that mean for casinos and the players?
1. Privacy and Anonymity
The decentralised nature of cryptocurrencies makes it impossible for authorities to track player activity. This means that gamblers transacting with crypto have the advantage of complete anonymity and total privacy. The bottom line? You own your money and you’re in full control of your transactions.
The decentralised nature of cryptocurrencies makes it impossible for authorities to track player activity. This means that gamblers transacting with crypto have the advantage of complete anonymity and total privacy. There are even anonymous casinos that specialize in this.
The bottom line? You own your money and you’re in full control of your transactions.
2. Lower Fees
Apart from keeping your personal information secure, crypto-based transactions tend to have incredibly low (or totally negligible) fees attached. Once again, this is because crypto transactions are not carried out through any external banking system or service.
This also acts as an advantage for players wanting to play at online casinos that are based outside of their jurisdiction. Sending crypto for deposits and withdrawals incur significantly lower fees than sending fiat money across borders.
However, it is important and necessary to ensure that crypto gambling is legal in your area.
3. Super-Fast Transactions
The decentralisation of cryptocurrencies also makes transactions incredibly fast. With no intermediaries involved, your currency can be withdrawn (or deposited) as fast as the casino takes to authorise your request.
While fiat currency can take up to 3 days to be transacted (sometimes longer), cryptocurrencies can be processed within 10 minutes.
This doesn’t necessarily mean that you will always receive your winnings this quickly, but the potential for instant transactions is through crypto payments offers a game-changer for the gambling industry.
4. Get More Out of Your Bonuses and Promotions
If you know your online casinos, you might have noticed that the casinos embracing crypto are also usually the spots with the best bonuses. This is no coincidence.
Playing at crypto casinos can often grant you access to not only a wider range of deposits, but more sizable ones too. On top of that, you’re cutting out the transaction costs, allowing you to enjoy more bang for your buck.
See some of the best casino promotions available this week.
5. Provably Fair
Games that use cryptocurrencies can also be made “provably fair”, which ensures that every outcome is totally random. Provably fair technology is totally unique to crypto gambling. This is because digital currencies like Bitcoin use a cryptographic algorithm (using blockchain technology) that is very difficult to decode or hack.
You’ll find that pretty much all crypto casinos use something like Random Number Generators, Hashing or Random Seed Generation that allows players to verify each transaction that takes place on its site. Each game, or transaction, has its own algorithm and it can be verified to determine its fairness.
6. It’s a Damn Good Investment
In short: it’s a fast-paced and super lucrative business. So, if you play your cards right, gambling with cryptocurrencies could be the ticket.
Whether you prefer to play with Bitcoin or any other of the 10,000 cryptocurrencies out there, as the world moves into a more digital space it’s only a matter of time before (widely accepted) currencies become digital too.
Biggest Winners On Crypto Casinos Around The World
While we’ve spoken about tapping into sizable bonuses, let’s take a look at the sizable wins that have been recorded over the past few years. Below is a breakdown of some of the biggest payouts from crypto casinos, and how the lucky players won.
Playing on Money Train 2, one lucky player hit a 6,883x after placing a €10 equivalent in USDT bet. The total cash out? €68,830 worth of USDT.
Evolution Gaming’s Crazy Time is known to dish out some pretty impressive multipliers. One player hit the jackpot when they lucked out on a 0.32 ETH (worth roughly $730 at the time of writing) bet and walked away with 400 ETH (just under $920,000).
This player won a sizable chunk of change at the corner of Mayfair and Park Lane (if you know you know). Trying their luck on Monopoly Live, they turned their 13 mBTC bet into an 18.93 BTC win! At the time of writing that equates to a roughly $440 bet turning into a $642,450 win.
In March 2017, a very lucky and equally confident player made off with a very impressive win. Immersing themselves in Troll Hunters, their 0.16 BTC (worth roughly $5,400 at the time of writing) bet won a whopping 160 BTC prize ($5,430,080). While most players would’ve called it a day and cashed out, this confident player went on to win another 56 BTC making their total winnings that session equate to 216 BTC – an incredible 1,340% gain!
Play with Your Favorite Cryptocurrency!
At the end of the day, cryptocurrencies aren’t going anywhere any time soon. The advantages that Bitcoin (and other altcoins) bring to both casinos and players means that crypto has become a staple in the gambling industry. So, what are you waiting for? Now that you know a little more about the crypto casino hype, choose your favourite brand and start reaping the benefits.