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Cryptocurrency payments at online casinos

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Online casinos offer almost unlimited gameplay options. The largest casino operators offer literally thousands of slots and hundreds of table and live dealer games. When it comes to payments, the choice at casinos is also growing steadily, which is great news for players. Here, we will introduce you to the main cryptocurrency payment options at online casinos, as well as see how to make these payments to live casino games or slot machines.

Deposit in cryptocurrencies

With the help of cryptocurrencies, you can pay for a casino game in much the same way as with electronic purses or credit cards. To make a payment, log in to your account and go to the payment panel. Then find the available cryptocurrencies on the list and confirm your selection. You will be taken to the website of the third party cryptocurrency deposit service provider.

Select the cryptocurrency you want to use on it. Currently, the most popular coins in casinos include Bitcoin, Tether, Ethereum and Litecoin. Enter the amount of cryptocurrency you want to transfer and follow the instructions. They vary depending on the cryptocurrency. For example, for Bitcoin, you will need to send the exact amount of Satoshi you specified to the blockchain address provided. After making the payment, the funds should be credited to your account and immediately available for play.

Benefits of cryptocurrency payments at online casinos

There are many reasons why casino players could benefit from cryptocurrency payments. First of all, compared to traditional payment systems such as Skrill or Neteller purses, you thus gain a very high degree of anonymity in casinos. Of course, you still need to identify your identity when playing at a licensed casino per AML and KYC procedures. However, the deposits and withdrawals themselves are already anonymous and this is important for some players.

Trading cryptocurrencies within a casino is also quite simple today. Most often, players can deposit and withdraw in the traditional way by sending money on the blockchain network from their own cryptocurrency wallet. However, many casinos use cryptocurrency payment gateways like CoinsPaid. This allows you to buy cryptocurrencies directly, for example with a card, and then send them to the casino. Thanks to this, even players who do not have their own wallets can use this payment method.

Deposits using Ethereum, Litecoin or Ripple are also associated with small fees, or even completely free. This is a big advantage compared to many e-wallets or electronic quick payments where you have to pay for each transaction and also for using the wallet. This is essential for online casino players as any small edge can affect the long-term profitability of the game.

Of course, cryptocurrencies in casinos can also have weaknesses. The main problem is price instability. Especially those cryptocurrencies that have lower profitability are characterized by a high decline. So when planning your casino deposits and withdrawals, price fluctuations should be taken into account, which will affect your potential profit from playing at the casino.

  • Coinsmart. Europe’s Best Bitcoin and Crypto Exchange. Click Here
  • Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
  • Source: Plato Data Intelligence: Platodata.ai
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