Cryptocurrencies like Bitcoin, sometimes called digital currencies, are more popular than ever in 2023, and a growing number of world-class iGaming sites now accept cryptocurrency as a viable payment solution.
In other words, players who are of legal age in their jurisdiction can now sign up to a handful of licensed online casinos and sports betting sites and then top up their new accounts and cash out their winnings when the time comes using cryptocurrency instead of having to process transactions using fiat currency with a traditional payment method.
Let’s dive in to discover why Bitcoin betting at licensed iGaming sites is on the rise and reveal some of the main advantages for players at cryptocurrency-accepting online casinos (aka crypto casinos).
What is a crypto casino?
In short, a crypto casino is essentially the same as a ‘regular’ online casino, but it’s called a ‘crypto’ casino because it accepts one or more cryptocurrencies. By embracing blockchain technology payments, online casino operators have opened up the world of online casino gambling and sports betting.
Accepting cryptocurrencies in the cashier/banking section has attracted a new wave of global players to online casinos, sports betting sites, and other licensed iGaming websites like dedicated poker sites and bingo/lottery sites.
Every crypto casino out there accepts Bitcoin as a standard. You will also now find that your average online Bitcoin casino, like the official 10bet website, may accept several other major cryptocurrencies like Tether (USDT), Litecoin (LTC), and Ethereum (ETH).
What are the advantages of cryptocurrency online casinos?
There are several advantages of depositing and withdrawing using Bitcoin (or any other cryptos accepted at a cryptocurrency online casino), some of which are more obvious than others.
First of all, the main advantage is that you can now use your favourite way to pay for goods and services at licensed real-money gambling sites to play online casino games or place sports bets.
If you don’t like using traditional payment methods like credit and debit cards, bank transfers, e-wallets, or prepaid vouchers/gift cards and want to gamble occasionally, it simply wouldn’t be possible without crypto casinos.
There are ZERO fees attached to cryptocurrency transactions, and they are often processed at lightning speeds.
Not only are deposits instant, but withdrawals are also generally processed in less than a few minutes. This is much quicker than most other traditional online payment processing companies take to process withdrawals.
People who deposit with crypto can also generally take advantage of higher deposit and withdrawal limits. Also, cryptocurrency is completely anonymous, which is why a lot of online casino players prefer using this payment option.
However, security is the main advantage of using Bitcoin or other cryptocurrencies at licensed iGaming sites that accept this payment method.
Deposits with cryptos are protected by more sophisticated levels of encryption, meaning you never have to worry about cybersecurity threats like your transaction being hijacked or your crypto wallet being hacked.
Other traditional methods like Visa and Mastercard credit and debit cards and e-wallets/digital wallets like PayPal, Neteller, Skrill, and Jeton, to name a few, are less secure than cryptocurrencies. In other words, cryptocurrency is the far safer and more reliable online payment method for online casino players.
However, don’t forget that if you still aren’t sure about using cryptos at online casinos, most sites like 10bet also accept many other traditional payment methods like Visa, Mastercard, Trustly, Skrill, Easy Pay, OTT Voucher, Paysafecard, OZOW, EFT (electronic funds transfer), 1Voucher, Zapper, Masterpass, Blu Voucher, and various other tried and tested online payment solutions.
In short, Bitcoin, Litecoin, Tether, and Ethereum cryptocurrencies are helping to fuel the rise in the number of people signing up to world-class iGaming sites.
What to look for in a good crypto casino
Before signing up to a crypto casino, you want to look out for certain things. Some of the most important things to consider are the following:
- Ownership and licensing – never sign up to an unlicensed online casino, and always check that it’s controlled by a trustworthy operator
- Games and software – make sure the site has games from established, licensed, award-winning providers (examples include Evolution Gaming, Red Tiger Gaming, NetEnt, Pragmatic Play, Blueprint Gaming, Yggdrasil Gaming, Spinomenal, Spribe, Playtech, to name a few)
- Bonuses and promotions – check that the bonuses and promotions aren’t too good to be true and that they come with fair and realistic wagering requirements (also known as rollover or playthrough requirements)
- Reviews – only sign up to a site with more positive reviews than negative
- Support – check the casino provides top-notch player support that’s easy to get in touch with
- Mobile compatibility – you want to make sure the casino games, services and features work equally well on desktop computers, laptops, smartphones, and tablets
- Payment options – as well as cryptocurrencies, make sure the casino also accepts other payment methods, just in case you need a backup payment option
- Security – a good crypto casino like 10bet will be perfectly secure and should have the necessary SSL encryption certificates
When signing up to a top-rated crypto casino like 10bet, remember to set a budget before playing, take occasional session breaks, and if you land a big win, don’t forget to withdraw it! Also, have fun, gamble responsibly, and always learn the rules of games before playing them for real money.