UPDATED ON: by James Worden

Cryptocurrencies are gaining popularity by attracting global attention daily, with many industries considering their use. One of the industries in which cryptocurrency has found considerable use is the online gambling industry. The number of gambling establishments is increasing daily, with many offering several juicy options. For example, gamers are thrilled daily with cryptocurrency casino no deposit bonus offers from these gambling platforms.

This shows that more and more online casinos are embracing cryptocurrency as one of their approved payment methods.

If you are a gamer and still doubtful of crypto casinos, hereโ€™s what you need to know about them. You will also discover the benefits that cryptocurrency casinos offer their customers so you can jump in at the right time, which is now.

What is a crypto or cryptocurrency casino?

A cryptocurrency or crypto casino is an online gambling platform that uses digital currencies like Bitcoin, Litecoin, Ethereum, etc. They permit their cryptocurrency casinocustomers, i.e., gamblers, to fund their casino games using cryptocurrencies.

The number one perk of using cryptocurrency in crypto casinos โ€“ or anywhere else, for that matter โ€“ is its anonymity. Gamers donโ€™t need to provide personal details or information that hackers may access in case of a security breach, which is not likely.

The terms and rules governing crypto-based casinos are approximately like regular or conventional online casinos. The only difference is the extra option of depositing funds and withdrawing payments.

How online crypto casinos work

Two types of online crypto casinos exist: the hybrid casino and the crypto-exclusive casino.

The hybrid casino allows the use of traditional or fiat currencies while the other deals exclusively with cryptocurrencies.

When players want to play their favorite online casino games with digital currencies, they will need to do the following:

  • Buy the cryptocurrency of their choice using fiat money and from a trusted exchanger
  • Create a secured crypto wallet to store all the digital currencies
  • Create a gambling account at a crypto-exclusive gambling platform using the cryptocurrency they just purchased
  • Enter the crypto address in the digital wallets as this helps in easing deposits and withdrawals from crypto casinos
  • Select your desired online casino game using your created cryptocurrency-funded casino account and start playing.

You can get higher rewards by purchasing cryptocurrency with high market values like Bitcoin.

Benefits of crypto casinos

Crypto casinos listed on https://playcryptocasinos.com/free-spins/ offer several benefits that gamblers appreciate and enjoy. Here are some of the unique perks of online cryptocurrency casinos:

  • Anonymous betting experience

Crypto gambling platforms are unregulated and decentralized, making such gambling casinos completely anonymous since transactions donโ€™t link to a bettorโ€™s identity.

Unlike conventional online casinos, no crypto-based gambling platform will ask its players to provide personal information or data. Anonymity in the gambling universe is a big thing that most gamblers worldwide prefer and appreciate. This is even more important to gamblers living in religious or gambling-restricted countries or regions.

  • More games are available at online crypto gambling platforms

The availability of diverse gaming portfolios is one of the reasons online casinos keep popping up, seemingly out of the woodwork, worldwide almost every day.

Nearly every online crypto casino offers various games, including sports betting and even crypto trading. These gambling platforms provide up to 500 unique experiences to crypto-exclusive casinos.

  • Lower fees than traditional fiat counterparts

Cryptocurrency casinos have lower transaction fees than their traditional counterparts. Casinos that provide crypto gambling services always look for digital currencies with low exchange costs. This makes gambling more affordable and enjoyable for every punter.

Some crypto-exclusive casinos donโ€™t even charge any fee, especially if youโ€™re transferring bitcoin to your secure bitcoin wallet. However, deposits and withdrawals may take 5 to 20 minutes to reach your online casino account. This is somewhat longer than it takes when using conventional casinos.

  • 24/7 customer service available to crypto gamblers

Renowned cryptocurrencies offer their esteemed customers 24/7 customer support service. No traditional casino provides this kind of customer service.

Crypto casinos excel brilliantly at customer care and often provide special bonuses, reimbursements, and highly dedicated or personalized assistance to VIP gamblers.

As you already know, cryptocurrency casinos are digital. Therefore, expect multiple contact options for reliable customer support. You can reach them via Direct Chat on the casino site, Telegram, toll-free numbers, WhatsApp, etc. Therefore, expect multiple contact options for reliable customer support.

  • Lots of superb bonuses/promotions exclusive to crypto gamblers

Crypto casinos are well-known for offering all sorts of juicy promotions to reload bonuses. Some of the promotions you will find on crypto casinos include:

  • Welcome bonus
  • Referral bonus
  • No deposit bonus
  • VIP programs
  • Free spins
  • Loyalty programs
  • Crypto bonuses
  • Event tickets
  • Competitions
  • Cashbacks, etc.

You will always find one or several promos that crypto-based online casinos run occasionally.

  • Availability of multiple crypto payment options

The most popular digital currencies used extensively at cryptocurrency casinos include Bitcoin, Dogecoin, Litecoin, Ethereum, and Monero.

Nevertheless, several other options exist, which gamblers occasionally use at cryptocurrency casinos. Bettors can also diversify their holdings and watch their digital monies grow by checking the list of available cryptocurrencies at specific casinos.

Nearly all crypto-exclusive casinos provide 10 to 15 cryptocurrency options that gamblers can utilize. It is not uncommon to find others that offer more than 50 unique digital currencies to VIP gamblers.

Why online crypto casinos are growing in popularity

The global casino market is reportedly worth a whopping $70 billion. The number of online casinos keeps growing yearly to meet heavy demand. Up to 10 percent of these casinos are crypto-exclusive gambling platforms.

This proves that the gambling industry is not pulling any punches and is determined to keep growing annually, irrespective of the prevailing global economy.

Third-party audits of crypto-based online casinos

The most common skepticism targeted at unregulated crypto-exclusive online gambling platforms is that gamblers are not 100 percent whether or not they are cheated.

However, some crypto casinos have taken steps to combat this criticism by permitting third-party audits to ensure fair gaming.

Third-party audits involve an independent team of auditors primarily responsible for examining a crypto-exclusive online casinoโ€™s game logic, code, and finances.

However, there is no 100 percent guarantee that third-party audits will catch all types of cheating. But the auditors are far more likely to uncover any cheating than gamblers. This is because most players are not expert programmers and canโ€™t detect any cheating format.

Nevertheless, it is highly recommended that you play your favorite casino games at licensed crypto-exclusive online casinos.

Pitfalls of crypto-based online casinos

Despite the rising popularity of crypto casinos, it is still a new concept with several pitfalls.

For instance, scam cryptocurrency casinos are common these days. You can recognize them easily because they usually promise big payouts to their players.

Gamblers who make cryptocurrency deposits on such scam gambling platforms do not receive any payout. The gamer will also be unable to withdraw their cryptocurrency funds.

But you can avoid such pitfalls by ensuring your chosen crypto-exclusive online casino is officially licensed to operate by a gaming regulatory body. You should also read the positive and negative reviews of previous online casino users.

This enables you to make informed and excellent decisions when searching for a crypto-based online casino to play your favorite games.

Conclusion

This is the dawn of crypt casinos as the number of these unique online casinos keeps rising annually to meet demands.

Crypto casinos are mandated to get licensed by regulatory gaming bodies. That is why experts highly recommend that you only play your favorite games at licensed crypto-based online casinos.

Such casinos follow AML and KYC regulations and are transparent to all their customers. In addition, they are audited mainly by third-party firms and always have appropriate cybersecurity measures in place.