How and When: Using Cryptocurrencies at Online Casinos

By | January 7, 2020

The online casino world is developing, long gone the days of playing handful of rudimentary slots and winning fake chips. Today, thanks to a wave of advanced technology and innovation, online betting and gaming is full of options to play.

Perhaps the most interesting development to the industry in recent years are cryptocurrencies which is empowering by the Bitcoin (BTC) boom of 2017. Many platforms are now applying this next generation payment technology despite the fact that, cryptocurrency casinos aren’t as common as their traditional counterparts.

Cryptocurrencies and Online Casinos

Exactly what cryptocurrency casinos mean?

Although the 2017 Bitcoin boom drove these platforms into the spotlight, they actually appeared a few years earlier. The casinos first concentrated specifically on Bitcoin and allowed gamblers to make deposits, bets and withdrawals using the digital currency.

As the popularity of cryptocurrency has rising, these casinos have included additional payment options for gamblers to fuel their accounts using tokens of Ethereum (ETH) and Litecoin (LTC).

Most recently, both traditional casinos and cryptocurrency casinos have developed to include other crypto payment options besides the traditional methods likes of Visa, MasterCard, PayPal and Skrill, which allow customers to pay and wager in their local currency as well as cryptos.

How to Make Online Casino Crypto Deposits

The only difference between traditional and cryptocurrency online casinos is the way you make deposit and withdraw. Here’s how to make cryptocurrency casino deposits and withdrawals:

Log in a crypto casino and go to the cashier page. Put in the amount you’d like to deposit (crypto amount or local currency). Press the deposit button to bring up a unique code known as a crypto wallet address.

As soon as you’ve got the code, navigate to your own cryptocurrency wallet and confirm a transaction by inputting the amount you want to deposit. 

Finally, wait for the transaction to be confirmed on the blockchain and the funds should be transferred in your account.

That’s a general overview of the key points you need to know about a crypto wallet. Once you’ve got those things established, all you need is the casino’s wallet address to process the deposit which will appear in your account just as it would if you were using a traditional payment option.