Some online crypto casinos also offer special bonuses for players making cryptocurrency deposits. In some cases, you can get massive deposit match bonuses just for making deposits with cryptocurrencies like Bitcoin and Ethereum.

What is Cryptocurrency?

Cryptocurrency is difficult for some people to understand, but the concept itself is relatively simple.

In the simplest terms, cryptocurrency is just a form of currency. It’s like using USD or EUR, except it’s not backed by a specific country. Instead, cryptocurrency is backed by something called a blockchain.

A blockchain is simply a database or ledger of cryptocurrency transactions. A blockchain records every transaction that’s made using a specific cryptocurrency. Meaning, there is a unique blockchain for Bitcoin, Ethereum, Ripple, Litecoin, etc. Every single cryptocurrency has its own blockchain.

The point of the blockchain is to provide undeniable security and reliability. Every transaction is recorded on the blockchain and distributed across every computer connected to it. This makes it incredibly difficult to hack or cheat the system because if one computer has a different blockchain record than all the others, then it’s obvious that someone tried to cheat.

This also brings up the decentralized aspect of cryptocurrency – meaning it’s not only held in one place. With a typical currency like USD, the US government controls the currency. With cryptocurrency, the currency itself is not controlled by any one organization. It’s controlled by the blockchain, the users, and the algorithms at work in the background.

How to Make Cryptocurrency Payments

When you want to send or receive a cryptocurrency payment, you need to use a crypto wallet. These are very similar to e-wallets like PayPal or Skrill. In fact, many e-wallets including PayPal now offer crypto wallet services, meaning you can store your cryptocurrency there and use the wallet to make payments. CoinBase is another common crypto wallet.

To make a cryptocurrency payment, you need to enter a private code from the party you’re paying. Crypto casinos make this really easy. When you go through the cryptocurrency payment process at a US online casino, the casino will spell out all the steps in great detail.

The casino will also give you a unique code to enter in your crypto wallet. This code will ensure that the payment goes to the casino.

The same is true if you want to make a crypto casino withdrawal, but the steps are reversed. Meaning, to withdraw from a crypto casino, you need to enter your unique code on the casino payment’s page. That way, the withdrawal will go to your crypto wallet.

Advantages of Crypto Casino Payments

Using cryptocurrency at an online casino is one of the best casino payment methods.

First off, it’s highly secure. You don’t need to enter any personal details on the casino site to make a cryptocurrency deposit or withdrawal. Instead, you just need to enter the unique code from your crypto wallet, or enter the code provided by the casino.

Cryptocurrency transactions are nearly impossible to spoof or hack. That’s because of the decentralized nature of the blockchain. Additionally, they are totally anonymous. On the blockchain ledger, it will show a transaction was made, but your name or personal details are never associated with the transaction.

Cryptocurrency transactions also never have any fees associated with them. Check out some of the best crypto casinos here on this page – each one accepts a few common cryptocurrencies like Bitcoin, Ethereum and Litecoin and none of them charge any cryptocurrency fees.

On top of all that, some crypto casinos offer special bonuses for cryptocurrency deposits. These typically take the form of deposit match bonuses. For example, a Bitcoin deposit bonus might award you with a 500% match up to $500.

Cryptocurrency FAQ

❓ Is cryptocurrency safe?

Yes, it’s actually one of the safest payment methods available for online transactions. That’s because of the nature of how it works. Cryptocurrency is based on the blockchain, a digital ledger that records all transactions around the world. When a transaction is made, it’s sent out to every computer on the blockchain and confirmed by cryptocurrency miners who solve complex cryptographic puzzles to add the transaction to the blockchain. If all the miners return the same transaction data, it confirms that the transaction was legit. These transactions are also totally anonymous so they don’t include any of your personal info.

❓ Which cryptocurrencies are accepted at online casinos?

In general, the best crypto casinos accept a range of cryptocurrencies. The most common are Bitcoin, Ethereum, Litecoin, Ripple, and Tether. Check out our list of the best crypto casinos here on this page – each of them accepts a range of these common cryptocurrencies.

❓ Are there drawbacks to cryptocurrency casino payments?

Cryptocurrency is a safe, anonymous, and fast casino payment method. One of the main drawbacks is that cryptocurrency is highly volatile. If you’ve kept up with the news about Bitcoin, then you already know how volatile it can be. The value will change daily, sometimes swinging by thousands of dollars in just minutes. There’s also no way to reverse a cryptocurrency transaction. That means once you submit the transaction, it’s done for good and you can’t get a refund. Make sure you’re ready to send the transaction before you hit submit!

❓ How do I make a cryptocurrency casino payment?

It’s easy to use cryptocurrency for casino payments. In general, you just go to the casino payments area and select cryptocurrency as your payment method. If you’re making a cryptocurrency casino deposit, the casino will give you a code to enter in your crypto wallet that tells the wallet where to send the cryptocurrency. It’s the opposite for crypto casino withdrawals – in this case, you enter your crypto wallet code at the casino and you’ll have the cryptocurrency in your wallet in no time.