Cryptocurrency, especially Bitcoin, is now an accepted part of the online financial landscape. Various cryptocurrencies can be used to pay for everything from pizza to sports betting. It can also be used to fund online casino accounts, and that’s what we’ll be looking at on this page.
In association with BingoSites.net, we’re going to look at why cryptocurrency has become so popular with online casino players, plus we’ll also be looking at some of the more popular cryptocurrencies on the market. So, if you’re thinking about playing at an online casino using crypto, you should read this page first!
Why is Cryptocurrency Popular at Online Casinos?
There are various reasons for the popularity of cryptocurrency, but the biggest is the privacy it brings to players. Once you’ve bought some crypto, you won’t need to enter your personal detail online again – unless, of course, you end up purchasing more cryptocurrency. Online casinos won’t require you to input any banking information, plus some specialised crypto casinos don’t even need any personal information from you.
Another reason for the popularity of cryptocurrency at online casinos? There are barely any fees attached to using them. You’ll have to pay a small charge when buying cryptocurrency at an exchange, but after that, the charges for depositing and withdrawing using crypto are negligible. The result? You can save more money for gambling.
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You’ll also find that depositing using crypto is quick. While deposits aren’t instant, they don’t usually take too long to process – expect an average time of around 10 minutes for a Bitcoin payment, although it depends on how busy the blockchain is. Withdrawals can also sometimes be with you in minutes – other methods can take a few days.
Finally, many choose to play using crypto because they love how volatile it is. This means that the value of the crypto can rise quickly, potentially making you money before you’ve played any online casino games. Of course, it’s important to be aware that the value of crypto can also fall, so investing in it does also have downsides.
Which Cryptocurrencies Are Popular at Casinos?
It’s impossible to mention cryptocurrency without focusing on Bitcoin. This is the most popular cryptocurrency by some considerable distance, with millions of people around the world now holding some Bitcoins in their wallets. Nearly all online casinos accepting crypto will allow you to use Bitcoin, so if you’re looking for a cryptocurrency you can spend at loads of gambling sites, it’s best to go for Bitcoin.
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However, there are several other cryptocurrencies that, while not as popular as Bitcoin, as still well-known and used regularly. These include Ethereum, Litecoin, Bitcoin Cash and Dogecoin. You won’t usually find them offered at mainstream casinos, but you will be able to use them regularly to deposit and withdraw at crypto casinos.
When choosing which cryptocurrency to purchase, it’s vital you check out where you can spend the money. After all, you don’t want to buy a load of crypto, only to then find you can’t use it to deposit at any online casinos.
