In recent years, cryptocurrencies such as Bitcoin and Ethereum have become popular investments and the preferred currency for many users all around the world. The virtual currencies offer safe, anonymous transactions across borders and are therefore a perfect match for online casino transactions, where security is key. For those reasons, Crypto has quickly made its way into the online gambling world.
Today, many (but far from all) online casinos accept Bitcoin and other virtual currencies. In order to use cryptocurrency for online gambling, players need to sign up at a casino that accepts a payment method that handles crypto – what we refer to as crypto casinos. At the top of this page, you can see a list of recommended online casinos that accept some sort of crypto transactions. If you are new to the world of crypto and not sure what it all entails, just keep reading for a brief introduction to the quickly-growing evolution of cryptocurrency and crypto casinos.
Cryptocurrencies are virtual currencies that exist digitally through distributed ledger technology such as a blockchain. The currencies normally exist using decentralized control, which means they are not reliant on any central authority. The first decentralized cryptocurrency was Bitcoin (BTC), which came about in 2009. Since then, thousands of alternative coins and currencies have been created. New ones pop up all the time but only a rare few make it. Some of the biggest alternatives to Bitcoin today include Ethereum (ETH), Litecoin, (LTC), and Tether (USDT).
The currencies are only virtual, which means they do not exist in any physical form (such as a paper note). But this does not mean they can't be used for real transactions – both online and offline. Today, there are many establishments that accept Bitcoin or other cryptocurrencies, and El Salvador has even made Bitcoin legal tender in September 2021. While many people simply invest in various cryptocurrencies, crypto is also widely used for payments and transfers and is preferred by many online casino players for deposits and withdrawals.
Crypto casinos are simply casino sites that accept deposits and/or withdrawals through cryptocurrencies. Some sites are dedicated crypto casinos where only cryptocurrencies are accepted, and these currencies are used in games, bonus terms, etc. More commonly, you will find casinos where a payment processor is used to exchange crypto for other currencies, and your balance, game bets, etc. are all shown in common currencies such as Euros. This is often offered via a payment method such as BitBay Pay, or by offering direct transfers from crypto wallets to the casino.
With the growth of cryptocurrencies, crypto casinos have become more popular, and more and more casinos are adding crypto payment methods to their offering. Before deciding on whether this might be the right payment option for you or not, you can consider the following pros and cons:
In order to use cryptocurrency for your casino deposits and withdrawals, you first need to buy some cryptocurrency. As mentioned, there are thousands of different currencies available, so the first step is choosing the cryptocurrency you prefer. Then, you will need to find an electronic wallet where you wish to purchase and store the currency. This will work similarly to when signing up for an e-wallet such as Skrill or MuchBetter, but with the added step of purchasing a different currency.
Once you have purchased some Bitcoin or another virtual currency, it can be used at a crypto casino. As long as you ensure the casino you are playing at accepts crypto, the deposit process will be similar to when using any other payment method:
Normally, if you choose to make your deposit with a crypto wallet, the online casino will generate a wallet for your cryptocurrency casino funds. You can then send cryptocurrency from your crypto wallet directly to the casino wallet.
It is important to remember that casinos accepting cryptocurrency payment methods and casinos operating in cryptocurrencies such as Bitcoin are two different things. This depends on which currencies the casino accepts.
You might, for example, have to input the deposit amount in Euros. If this is the case, your deposit will be exchanged from your cryptocurrency to Euros. The same goes for your withdrawal process: you might have to withdraw funds in a different currency than crypto. If so, the funds will then be exchanged into your cryptocurrency in your crypto wallet.
Crypto casinos come with a lot of advantages and are a great option for players who are already invested in the world of cryptocurrencies. If you think it sounds like a good way to handle your casino spendings and possible winnings, we are here to guide you further.
By scrolling back to the top of this page, you will see a list of recommended online casinos. All of these casinos accept cryptocurrencies in one way or another, and are all 100% safe options for players in your country. We vet each casino thoroughly and only recommend those that match our strict criteria. If you wish to learn more about each casino, simply click to read our in-depth reviews. You can also use the filtering options on top of the list to narrow your search further in order to find the best possible match for your preferences.