Crypto Casino sites have experienced a surge in popularity, particularly over the last few months as the price of Bitcoin has continue to climb – and with Government and regulators keen to monitor players’ finances (in the hopes of finding anything to do with money-laundering), it’s likely that Crypto Casino sites will continue to grow, as more players want their privacy.
In this guide, we’re going to look at how to deposit and withdraw at a Crypto Casino, and we’ll also cover a little bit about Crypto wallets, and how you can stay safe while sending or receiving Bitcoin.
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Deposit and Withdraw money using wallets
You’ve no doubt heard the phrase “Crypto Wallet” before. We’ve mentioned it a fair number of times in this article alone, and if you’re sat there wondering what the heck a Crypto wallet actually is, then keep reading to learn more!
For example a Hard Crypto wallet is much like a bank account. It’s where your Bitcoin, Litecoin, Ethereum and FUN ERC-20 token coins are stored, and it’s the place you go to make transactions. The main difference is that Blockchain is open-source code, meaning there is no third party like the bank meaning that nobody holds your money as long as you have a hard wallet in place.
This means you have full and complete control over your funds – and what’s done with them – and ensures a smoother, more privacy-orientated online gambling experience.
Example of Cryptocurrency wallets:
It’s completely free to get a crypto wallet online and you can either download one to your computer (although this can take a few hours dependant on the size of the Blockchain), or you can use a popular online wallet, like LocalBitcoins, Coinbase, or Blockchain.info – all of which are reputable, high-quality, and reliable services.
There’s a few things to remember if you’re planning on making deposits and withdrawals using Bitcoin, and the biggest tip of all, is to always double check the addressed you’re sending or requesting money to/from.
Due to the nature of Blockchain, it’s physically impossible to recover lost coins – it’s just not possible – so if you send coins to someone else’s address, unless you know them personally, or “fluke-out” and find a way to contact them, there’s virtually no chance you’ll get them back.
Above all, have fun and remember to always try and gamble responsibly.
Depositing at a Crypto Casino is easy, well when you know how, and in this section, we’ll look at how to send Bitcoins to a casino. Note that many Crypto casino sites also offer other cryptocurrencies including Ethereum and Altcoin, but we’ll only be covering Bitcoin
The first thing you need to do, is make sure your Bitcoin wallet has funds in it. Once done, you’ll need to log into your casino account, and head to the cashier section, and where you’ll see a Bitcoin address.
Copy this address (be careful you copy it exactly as-is), and then head to your Bitcoin wallet, and paste the address in, in the “Send/Receive” tab. Once you’ve done so, choose how much Bitcoin you wish to send (make sure you send more than the casino’s minimum amount), and click send; that’s it!
You’ll see your funds available within your casino account within just a moment or two – and its then time to hit the tables or slots!
Withdrawing from a Crypto Casino is much like depositing – expect instead of sending Bitcoins, you’ll be receiving them!
To get started, once again head to your Bitcoin wallet – but this time, copy your BTC, LTC or ETH address. Take this address over to the Crypto casino site’s cashier, and under the “withdrawal” tab, paste the address in the “receiving Bitcoin address” field.
Be sure your wallet address is correct, as once the casino have sent your funds there’s nothing they can do if they sent them to a wrong address.
Once you’ve made the withdrawal request, the casino will process your withdrawal – and depending on how quickly they complete the processing of it, you could have your money in a matter of moments, or a few hours – it all depends on the casino.
To speed things up, ensure you’ve submitted any relevant documentation (like identification, for the KYC (Know Your Customer) checks).
One of the advantages which comes with using cryptocurrencies online is the speed of transactions. Punters want to make their deposit and to begin playing as quickly as possible. So, they’ll be pleased to know deposits using cryptos such as Bitcoin are almost instantaneous.
The speed of withdrawals is one of the most significant bugbears in the online casino world. But, thanks to digital tokens like Ethereum, the waiting time is slashed considerably. Most withdrawals will get from A to B in minutes.
The amount a punter can deposit at an online cryptocurrency casino will vary depending on the policy of the operator. However, using Bitcoin as an example, on average, a player can withdraw between three and five BTC in a transaction.
If a player is new to a service or platform, they’re in luck, as the operator will want to give them a warm welcome. They do this by rewarding them for making their first deposit with perks such as bonus funds, a deposit match, free spins, or a combination of goodies.
One of the most significant positives where cryptocurrencies are concerned is that transactions are secure. There are no middlemen involved, and users remain anonymous. Therefore, funds move from one party to the other safely and without risk.
A lot of cryptocurrency sites such as Bitcoin platforms are designed for mobile play. So, operators make it a straightforward process to add funds to an account. In a couple of taps of the screen, a punter will have added to their account and can begin playing.