Before we dive into crypto casinos, let’s clarify what “cryptocurrency” means. Simply put, it is a term that refers to a decentralized currency, without its own financial institutions or ways to control its circulation. Blockchain technology allows information to be recorded and stored as chains of data blocks. So, 1xbit1 money is a digital product with a code and a record that uses encryption methods and special techniques for verification. There are currently over 3,000 cryptocurrencies, and the most popular ones include:
- Bitcoin (BTC);
- Litecoin (LTC);
- Ethereum (ETH);
- Tether (USDT);
- Ripple (XRP);
- Dogecoin (DOGE).
People store their “crypto” in online wallets on special platforms. These platforms allow you to list, buy or sell cryptocurrencies.
The advantages of digital money that attract players to blockchain-based online casinos include anonymity, game transparency, and secure transactions.
Cryptocurrencies are becoming increasingly popular as a payment method in casinos. Five years ago, only a few gambling clubs accepted bitcoin payments. Today, all high-quality online platforms allow players to deposit and withdraw winnings using crypto wallets for Bitcoin, Litecoin, Ethereum, Ripple and others.
How to play with bitcoins?
Playing with cryptocurrencies works like gambling with real money: you will find the same slot games, identical simulation settings, similar bonus systems, and real money payouts. Although crypto casinos accept bitcoin and other digital currencies, they also use traditional money to settle accounts and attract customers. Using cryptocurrency at any online casino on the blockchain is a legal way to fund your account and withdraw your winnings. These virtual gambling venues cater to players who want to risk or win money to get rich, while maintaining anonymity.
How can you use bitcoin and other cryptocurrencies at online casinos?
Bitcoin and altcoins are not a traditional payment method, so you will need to follow our guidelines. If you are planning to add money to your casino account or withdraw your winnings, here is what to do:
- Choose a casino. Check if it is licensed, if it offers payment options you prefer, and if it has the games you want to play.
- Visit the casino website and press the “Register” button.
- Create an account. You can sign up using your email, phone number or social media account.
- Fill in your details. This includes basic personal information and contact details. You can add more information to your account later.
- Look for the “Bank” or “Cashier” section. The button to deposit money or withdraw winnings is often located in the top right corner of the casino site.
- Click on the “Deposit” or “Withdraw” tab to add funds or withdraw winnings.
- Choose a cryptocurrency from the available options.
- Open your cryptocurrency wallet and scan the QR code on the casino website. Verify the payment. For withdrawals, you will need to type your cryptocurrency wallet address in the correct field. The money will appear in a few seconds or minutes, but the exact time depends on how fast the blockchain processes transactions. If you do not see your tokens after a day, it is best to contact the casino support. But first, make sure you have confirmed your crypto wallet – this is often the problem!