What are crypto-currencies

  • Friday, Feb 25, 2022

A crypto-currency is a digital or virtual currency that stored in a decentralized system. Although Bitcoin ushered in the crypto-currencies wave, other alternatives have been made. These include Ethereum, Litecoin, Stellar and Polkadot.

Where can you get crypto-currencies?

To acquire cryptocurrency, you start by acquiring the currency from brokers or from crypto exchange. Once you have identified your exchange, create an account and verify it. To finalize deposit cash and then order crypto.

How to recognise legitimate casinos

With a growing number of online casino, having an evaluation criterion is good. To spot a legitimate casino be on the look out for its licences, selection of games, speed of transactions, customer care and convenience.

How to start playing using crypto-currencies.

To start playing using crypto-currencies, you have to buy crypto accepted by your casino. Secondly, find an e wallet to store your digital currency. Lastly register in a casino and play. E wallets available are;

  • Coin base
  • Exodus
  • Breadwallet
  • Kraken

The Best crypto-currency Casino.

Due to the popularity and viability of crypto, many casinos have accepted it. The most commonly accepted types in casino are Bitcoin, Litecoin and Etereum. Additionally, they also offer bonuses in form of crypto-currencies.

Players can comfortably wager on the following casinos: Bitstarz, Bodog, LSbet, Native Gaming, Montecryptos, Slots Heaven, Kahuna, King billy Casino and West Casino. All these casinos have been licenced as legitimate operators.

The Best mobile casinos accepting cryptocurrencies.

Mobile casinos come with the advantage of offering gameplay whenever and wherever. Top choice for mobile casinos that accept cryptocurrencies include; BitStarz, Slots Empire, Wild casino, Casino Max, Bovada and Silver Oak.

How crypto gaming sites are ranked.

Apart from checking the legitimacy of a casino, ranking of crypto casinos is done according to how friendly the casino is to crypto users. Here is the method used to identify the listed casinos.

  • Offering bonuses with crypto.
  • Deposit and withdrawal methods
  • Vast gaming library.
  • Reliable customer care

Fees associated with cryptocurrencies.

The fees associated with depositing and withdrawing cryptocurrencies depends on the casino used. Various casinos charge very little fees to speed up the transactions. However, there are options that have free transaction costs.

How are transactions made using cryptocurrencies?

Making deposits and withdrawals in a casino is easy. To make a deposit go to deposits menu and click on the cryptocurrency option. Most casinos have it labelled according to the digital currency used.

How to make Withdrawals using Crypto currencies.

Similarly, withdrawing is also fast and convenient. Navigate through the withdrawals menu and click on digital currency option. Key in the amount and verify the ewallet address and the transaction will be complete.

Some casinos offer withdrawals in form of traditional currency even when the player had deposited digital currency. This is done by selling the cryptocurrency for cash. This is mostly offered by crypto friendly casinos.

What are the advantages of crypto-currencies.

Cryptocurrencies offer some advantages to clients as compared to traditional currencies. Here are the reasons to use crypto. First, they offer security and privacy to player because crypto is based on privacy.

Secondly, crypto offers security to players because of the technology used. The blockchain cant be broken and when tampered with it is made visible on the chain. Other reason why crypto is safe include:

  • Data security
  • Irreversible transactions.

Lastly, crypto offers low or no transaction fees therefore making it a good choice. Additionally, the transaction speeds are fast unlike fiat currencies that might have a transaction time of 3-5 working days.

Disadvantages of crypto-currencies

Crypto may be a good option but there are a few disadvantages that come with it. These include the fact that the anonymity of crypto transactions may be used for criminal activity.

Secondly, the currency is volatile and keeps fluctuating. This makes it risky to acquire huge amounts of digital currencies. This may work as an advantage too when the currency fetches good prices.

Lastly, the digital currency is a work in progress therefore it has not been polished well enough. On top of that, it's not the most preferred method of payment in most casino thus limiting players options.