Blockchain technology is one of the latest innovations shaking up the online casino industry. Thanks to blockchain technology being adopted at a growing number of fully licensed and regulated iGaming sites, fully registered members can deposit and withdraw with cryptocurrency.
Let’s dive straight in to see if the adoption of cryptocurrency as a viable online payment solution will continue to help shape the future of online casinos or if it’s just a passing fad.
Do all online casinos now accept cryptocurrency as a viable payment method?
No. Not all online casinos accept cryptocurrency for deposits and withdrawals. For example, no UK-licensed casino sites (i.e., online casinos that are fully licensed and regulated by the Gambling Commission in the United Kingdom) accept cryptocurrencies in 2024.
However, there are hundreds of other globally renowned iGaming sites (e.g., online casinos, poker sites, sportsbooks and lottery sites) that do accept one or more legitimate cryptocurrencies, and they tend to be licensed by one or more other mid to top-tier licensing authorities.
If you want to find out which online casinos accept cryptocurrencies and various other traditional payment options like credit & debit cards, eWallets, bank transfers, and prepaid cards, or for more information about casino promotions for new players, the most trusted iGaming review site you can turn to in 2024 is the official Casinos.com review site.
Are crypto-accepting online casinos safe?
Yes. Crypto-accepting online casinos are perfectly safe, provided they are licensed by renowned iGaming licensing authorities and controlled by reputable companies. The only crypto casinos that aren’t safe and must be avoided at all costs are ones that are unlicensed, have negative reviews, and are controlled by operators with bad reputations.
Today’s best crypto casinos use high levels of encryption to protect your payments and keep your money and personal details out of the reach of cybercriminals.
In fact, crypto casinos are considered to be more secure than traditional online casinos that don’t use blockchain technology or accept cryptocurrencies.
Additionally, many of today’s most trusted crypto casino sites DON’T require PII (Personal Identifiable Information) documents or any further KYC (Know Your Customer) documents to get yourself verified, which is why so many players choose to play at crypto casinos.
You can also generally use VPNs to access these sites, meaning players in restricted countries can still enjoy playing their favourite games without the operator asking them to switch the VPN off to access the site and its services.
Finally, transactions with cryptocurrency across the blockchain network are said to be much faster than the average transaction times offered by most other payment processing gateways.
What cryptocurrencies can I use at today’s best crypto casinos?
It all depends on which crypto casino you sign up to. For example, some online casinos will accept only one or two cryptocurrencies, whereas others might accept 10 to 20 or more.
Before you sign up to an online casino that may or may not accept your preferred cryptocurrency, the best thing to do would be to go to the payment section or contact that casino’s player support to find out if they accept it.
At most crypto-accepting casino sites site, you can often deposit and withdraw using the following cryptos:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Ripple (XRP)
- DogeCoin (DOGE)
- Tether (USDT)
Some online casinos today also now accept various other cryptocurrencies, such as Cardano (ADA), Polkadot (DOT), Tron (TRX), Avalanche (AVAX), Thorchain (RUNE), Solana (SOL), Polygon (MATIC), and Cronos (CRO), to name a few.
The other thing that’s appealing to millions of crypto online gamers worldwide is the simplicity, reliability, anonymity, convenience and user-friendliness that cryptocurrency offers as a payment method, which can be used for both depositing and withdrawing.
What are the benefits of playing at crypto casinos?
Apart from what has already been mentioned above, there are many other benefits to playing at crypto casinos.
For example, today’s most highly recommended sites can be accessed from almost any location on the planet and from almost any modern Wi-Fi/internet-enabled desktop computer or mobile device.
They tend to have upwards of 4,000 slots, video poker games, instant win & lottery style games, traditional table and card games, speciality games, arcade games, slingo, and crash games with above-average RTP% payout rates.
They take just seconds to load in most web browsers. There’s something to suit all types of players, and the games are brought to you by anywhere from 10 to 100 or more market-leading game development studios and software providers.
If you want next-level gaming, don’t forget to check out the live dealer games from award-winning providers like Evolution Gaming, Pragmatic Play, and Playtech.
Are cryptocurrencies the future of online casino payments?
Nobody can say what the future holds. However, as cryptocurrencies continue to become legitimized by major fintech organizations and institutions, adopted by merchants as a viable payment method at the checkout, and become more mainstream, there’s a good chance cryptocurrency and blockchain technology will one day be the norm at all online casinos.
We will just have to wait and see.
With a decentralized approach towards online gambling activities, players are guaranteed a more transparent, provably fair, and trustworthy online casino experience.