We are willing to wager that you can barely scroll through 10 pages on the internet without stumbling on ‘cryptocurrency, blockchains or decentralized’. It is the rave of the moment- with over $30bn worth of crypto transactions carried out daily by different consumers including entrepreneurs, online shoppers and even online casino players.
At this point, some people might already be overwhelmed with all this talk about this mystery online currency, but not you, instead, you’re immensely curious after hearing about the anonymity and speed you stand to benefit and all you’re asking is ‘How do I even get in?’ Well, congrats! luck has brought you to the right page at the right time. Stick with us as we take your hand through this maze.
Understanding the Language
To make sense of this space, you have to understand some of the jargon regularly thrown around.
Cryptocurrency is simply a digital currency that runs primarily on computer codes and not a central bank. It is not physical but from the digital space, it can be used to pay for goods and services. The most popular of them are Bitcoin, Ethereum and Ripple
Blockchains are a series of ledgers showing every transaction for a cryptocurrency, it is highly secured through the use of cryptography. It is also stored as copies across thousands of computers around the globe.
Cryptocurrency wallets are a digital place for you to safely store your access keys to your cryptocurrency. The commonest examples are BRD wallet, EDGE wallet, Mycelium, and Jaxx.
An exchange is basically a form of a marketplace where cryptocurrency can be bought or sold, some of the most popular are Coinbase, Binance, Kraken, Bitstamp, and Bittrex.
Act One, Scene One
To gamble with cryptocurrency, you will need to set up your cryptocurrency wallet with any of the reputable platforms listed above.
After getting a wallet, you will need to pay in with your respective fiat currencies for the cryptocurrency on an exchange platform to receive it into your wallet. Then Select a trustworthy Online Casino that accepts Cryptocurrency, register an account and supply your crypto wallet address.
Finally, transfer the amount of crypto you would like to play with in the casino. You will see the transfer reflected almost immediately on your casino account. Get playing and start winning!
When The Show’s Over and it’s Time to Go Home
It is in the speed of the transfers and withdrawals that we find the forte of Crypto casinos. To claim your winnings in cryptocurrency, firstly ensure that your crypto wallet contains the same cryptocurrency that you choose to receive as payment for the transfer to function, then follow these steps:
- Simply head over to the Withdrawal page of the online Casino
- Supply your Crypto Wallet address(be careful to avoid mistakes) where required.
- Receive your funds and Enjoy.
Finding The Best Actors
All kinds of casinos that accept Cryptocurrency are out there, To get the very best ones and screen out the pretenders, look out for these:
- A generally positive review from the customer base is an indication of a fair online casino
- Clear proof of licensing from reputable gambling regulatory agencies is a non-negotiable before you sink your crypto and get burned.
- FairPlay policies in respect to their bonuses, make sure you pay attention to the fine print. The devil is always in the details with these casinos, so do your due diligence
- The best casinos are the ones that give you a wide variety of gaming options to play from and win.
The Plot Summary
It is clear at this point that cryptocurrency isn’t only the future for buying and selling products online but has definite game-changing properties in the online Casino scene.
Pros:
- Low transaction fees
- Absolute Privacy and Anonymity per transaction
- Full Control of the means of storage and exchange of cryptocurrency
- Faster Speed for transactions than normal fiat currencies.
The Concerns and Cons are:
- Concerns about cybersecurity considering its entirely digital
- Some degree of nefarious and criminal practices associated with cryptos
- Crypto markets tend to be very volatile over time.
These points for and against don’t change the fact that cryptos have permanently changed the online gambling landscape. Get in the space and find out for yourself.
