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What are crypto casinos?
Crypto casino is a term to describe any casino that accepts cryptocurrency as a form of payment. Not every crypto casino only accepts crypto, but some sites can only be used with crypto. The cryptocurrency accepted will also differ depending on the casino, so make sure that you own a supported currency before signing up.
What is cryptocurrency?
Cryptocurrency is a new form of online currency that is usually complete decentralised and controlled by its owners, not by the banks. Crypto is designed to be an innovative new kind of money that gives control to the users. You might have heard of the most popular cryptocurrencies like Bitcoin or Ethereum. Both of these coins can be used to pay for good and services both online and in retail locations around the world. As the popularity of cryptocurrency grows, the number of businesses which accept it grows too.
Crypto casino bonuses
Casino bonuses and promotions are many player’s top reasons for joining a new site. Almost every online casino offers new players a bonus in the form of a welcome package. Some sites which accept cryptocurrency now give special bonuses to players who use crypto as a form of payment.
Some bonuses may be open to cryptocurrency users, but a lot of online casinos place restrictions on which payment method can be used to claim a bonus. Make sure to always check the terms either on the casino itself or here on our site.
At Xfire, we spend our time finding the best online casino bonuses around. Whether you’re into matched deposits, free spins or no deposit bonuses, we find them and list them all here on our site. If you’re looking for the best crypto casino bonuses, you’ve come to the right place.
The best cryptocurrencies for online casinos
With the online casino evolving each year and becoming more accessible than ever, many sites are starting to offer players new ways to pay. The last few years have seen a big increase in the number of available cryptocurrencies. This has, in turn, led to more casinos than ever starting to accept crypto as a form of payment.
Online casinos always try to make payments as simple as possible for their players and crypto helps facilitate this. Most cryptocurrencies let their users make fast and simple payments and eliminate a lot of the hassle that comes with entering your card details online.
Here are a few of the major cryptocurrencies which are supported by crypto casinos:
Bitcoin is the most popular cryptocurrency in the world. It’s the name most people think of when asked to name a cryptocurrency, and as the original crypto coin, it’s still going strong since its inception in 2008. Thanks to its popularity and reputation, Bitcoin is now accepted at a large number of online casinos. Bitcoin has a lot of advantages over traditional payment methods, including the speed of transactions and better security. On top of this, Bitcoin is completely decentralised, meaning that provided you have your coins in a wallet, you are in full control over them.
Ethereum has fast become a popular alternative to Bitcoin thanks to improvements in how the coin works. Generally, Ethereum transactions can be completed much faster, and there are a wide range of uses for the coin outside of simple payments. The Ethereum blockchain ecosystem consists of a range of different coins that can provide numerous benefits for companies and users. Thanks to its popularity, the majority of crypto casinos accept Ethereum.
Monero has fast become the cryptocurrency of choice for players who wish to protect their privacy. The coin is different from any other in that users have a lot of added security. While Bitcoin and other cryptocurrency payments can be traced, Monero allows its users to hide payment transactions. The added privacy of the coin means that many online casinos are willing to accept it from players.
Ripple is slightly different from most other cryptocurrencies in that it is backed by banking institutions. Ripple offers it users a lot of versatility and ways to use the coin, either to make payments or as an exchange service. Ripple is accepted by a lot of different crypto casinos and gives users a way to make faster payments than the alternatives.
Litecoin is modelled after Bitcoin and shares a lot of similarities with the original crypto coin. It is a lot faster to process payments in most cases, however, and gives some advantages in anonymity and security. Litecoin can be used to make payments all over the world, and lots of online casinos are starting to accept it as a method of payment.
EOS was specifically designed for online transactions like casino payments and provides users with a simple way to make deposits and withdrawals. Rather than the casino holding your funds directly, EOS allows the casino to only take your funds when a bet is made. This type of payment method can give you a lot more freedom and peace of mind when playing at online casinos. Additional security measures and the fact that you can sign up with just an email address make EOS a great choice for crypto casinos.
Bitcoin Cash is an updated version of the original Bitcoin blockchain. The idea was to create a chain with smaller block sizes that allowed for quicker and easier computation. This essentially means that Bitcoin Cash is able to complete transactions much quicker and with smaller transaction fees. Thanks to its greater ease of use, many online casinos will accept Bitcoin Cash as a payment method.
Tether is a coin that’s designed to mimic the price of the US dollar as closely as possible. Because of this, the total number of Tether can increase whenever there are fluctuations in the crypto market, but Tether will remain at more or less the same value. The stable nature of the coin means that it can be popular with some users who find it easier to handle. Some online casinos will accept Tether as a form of payment.
Libra is a new cryptocurrency considered to still be in development. It is being designed and tested by Facebook, which intends to use it to provide people with a faster and easier way to make online payments. The coin is intended to be another stable coin, meaning that heavy fluctuations in price will be rare. Theoretically, it could be ideal for online casino users, especially if it allows for instant currency conversions and fast transactions but for now, we don’t know exactly what features the coin will have.
The rise of crypto casinos
Bitcoin is the oldest cryptocurrency after being created in 2008. It wasn’t until 2010 however that the first Bitcoins were sold. It took a long time for Bitcoin to become an accepted form of payment and an even longer time before big online casinos started to take notice.
In 2011, the idea of a decentralised payment system started to take off, and thousands of online users started to use Bitcoin and other cryptocurrencies. More crypto coins were being created all the time that promised users faster payments and more security.
Around this time, some online casinos started to experiment with crypto as a form of payment. Online casinos are always looking for new ways to attract more players and faster payment methods are something all players are interested in. Online casinos which allow players a wide range of different payment methods are highly regarded.
The innovation and ease of use that cryptocurrency offers meant that many online casinos were quick to allow payments using this method. These days, there are even online casinos which exclusively accept cryptocurrency as a form of payment.
How does cryptocurrency work?
One of the main barriers that stops cryptocurrency being widely used is that it can still be hard for new users to understand. What is a peer to peer network? What does Bitcoin mining mean? Are cryptocurrencies secure from hacking and fraud?
We’ll explain all these questions and more in the guide below. Note that this is a simplified guide and you can find more detailed information through search engines if you still want more answers:
Simply put, using a cryptocurrency to make payments is a lot like using an eWallet such as PayPal, Neteller or Skrill. You load funds (crypto) onto your online wallet, but in this case, you have to buy the crypto before you can add them to your wallet.
Once your crypto is loaded onto your crypto wallet, you’ll see your balance represented by numbers on the screen. In your wallet, you’ll be able to find your public address and private key. Your key is what you use to access your wallet, and the address is what you use to receive funds.
To send funds to someone else, you’ll need their public address. You can then send a certain amount of funds to another wallet address by pasting the address into your wallet, choosing the amount to send, and then hitting send.
If you’re familiar with eWallet services, this process should be fairly easy to understand. Using crypto is often a lot easier than many people expect.
Understanding how it all works
If you want to understand how crypto works exactly, again, it works in much the same way as a normal financial network. However, instead of a bank or government keeping track of the money, the whole process is recorded on something called the blockchain.
The blockchain is recorded by any computer which is part of that particular cryptocurrency network. Any transaction is recorded on this chain of blocks, and for most coins, the entire chain is public. To make a transaction, a person sends the money over the peer to peer network, and the record of it is then added to the blockchain.
Transactions aren’t added automatically, though, they must be added through a process known as mining. This is where the computers in the crypto network use software to solve a computational puzzle and add the transaction to the chain. Computers in the network receive a small reward for solving the puzzle, which is where the transaction fee comes from. The time taken to complete the transaction depends on how many computers are on the network. It’s also influenced by how many transactions are in the queue.
If you’d like to get started at a crypto casino or just using crypto in general, you’ll first need to know how to get your hands on some. It’s easier than you might think. First, you’ll need to sign up with a cryptocurrency exchange. Some popular sites include Coinbase, Kraken and Binance.
Once you sign up with an account, you’ll usually need to provide some ID for the KYC (know your customer checks). Once that’s all sorted, you can buy the crypto of your choice using a credit or debit card.
Keeping your crypto secure
Once you own crypto, it’s important to keep it safe. Unlike with a bank, the crypto you own is owned completely by you. This has many advantages but also means you have to take good care of it. There’s no fraud protection when using crypto.
First, make sure you set up a wallet to transfer your crypto into. Depending on which coin you’re using, there will be several different options to use. There are two main choices of wallets:
- Hardware wallets – Hardware wallets or ledgers give you a lot of extra security and protection. Because they’re offline, they can’t be accessed by hackers and as long as you keep your private key safe are totally secure. These are a bit of a slower choice if you want to move your funds around freely, however.
- Online wallets – Online wallets are the easiest to use and give you a lot more freedom when it comes to moving your funds. These are the best option if you’re going to be moving your crypto regularly or using it to fund your casino account. An online wallet will always be free and shouldn’t charge you to use it, so steer clear of any that try to charge you.
Bitcoin faucets sound almost too good to be true when you first hear about them. A site that promises you free Bitcoin? Surely not? The reality is that the vast majority of them are completely legit.
A Bitcoin faucet is a site that gives users small rewards of fractions of a Bitcoin. Bitcoin fractions are known as Satoshis (named after the enigmatic creator of Bitcoin) and work in the same way that cents or pennies work. They’re small fractions of a Bitcoin, allowing you to make payments or receive money less than a whole Bitcoin.
Once you sign up to a Bitcoin faucet, you can receive Satoshis simply for watching ads, completing captchas or even for playing games. You can also earn extra rewards by referring friends, and some sites will also give you extra rewards for signing in each day.
The very first Bitcoin faucet was established in 2010 and back then would give out up to five Bitcoin per user! At today’s prices, that’s a huge amount of money, just for watching an ad!
Many online crypto casinos have started offering a Bitcoin faucet as part of the site. You can sometimes find crypto casinos that allow you to gamble your free Satoshis for extra rewards, using them in card or dice games. Some sites even offer special jackpots, giving out whole Bitcoins or other rewards to lucky players.
Are crypto casinos safe?
The safety and trustworthiness of an online casino should always be a big consideration when choosing a new site. A lot of users are sometimes unsure whether online casinos and crypto casinos can be trusted. Here at Xfire, we always check that sites are legitimate and trustworthy before reviewing them or adding them to our site.
Crypto casinos usually have the added benefit of being safer than regular casinos as you won’t need to add your payment or banking details in order to sign up. One of the big advantages of using cryptocurrency over other payment methods is the increased security and privacy protection it gives you.
In general terms, crypto casinos are often safer than regular sites thanks to this. If you’re still unsure whether a site is legit or not, you can check out our full review. We assess the safety of casinos by looking at the licence, encryption and user reviews online. Using these methods, we only bring you the safest and most trustworthy crypto casinos.
How to choose the perfect crypto casino
There are lots of different crypto casinos out there, and before you get started, it’s important to know which one to choose. Different sites have different features, and these might make a site more or less suitable for you depending on what your preferences are.
To pick a crypto casino, first consider which casino features are most important to you. Do you prefer to play on a mobile device? Are you after a big bonus? What kind of games do you prefer? These questions will help you pick out a site that’s better suited for you.
Next, you’ll want to consider the following criteria, which we use to write our casino reviews:
Safety and trustworthiness
As we discussed already in this guide, it’s important to be able to trust the site you’re using, after all, it’s your money that you’re going to be depositing here. Make sure that the crypto casino is legal and holds a licence from the proper gambling authority. If you’re unsure, you can check whether we’ve reviewed the site. At Xfire, we only review casinos which are proven to be legitimate and fair to use.
Game variety and quality
A casino isn’t much fun without its games, so looking at what kind of games the site offers is a big part of choosing a good site. Make sure that the crypto casino you use has a decent selection of games and more importantly, has games that you actually want to play. On top of that, you should check which developers the games are from. Good quality game developers will only allow quality casinos to feature their games. Check for games from developers like NetEnt, Microgaming and Evolution Gaming.
Bonuses and loyalty program
Check what kind of welcome bonus that the site offers before you sign up. Remember that big bonuses often have bigger wagering requirements, so make sure to read all of the bonus terms and conditions. You should also check out what kind of offers the casino provides for regular players and whether there’s a loyalty program. You can find full details of these in our online casino reviews.
Does the casino provide 24/7 customer support or live chat? It may not seem like a big deal, but if you have an issue at the casino or with your payments, it’s always good to know it can be resolved quickly. Any good online casino should have a live chat option which lets you chat with a friendly support team member. If you’re not sure about what kind of customer support the site offers, you can check our review of the site.
How to sign up at a crypto casino
Signing up for the first time at a crypto casino is a simple and straightforward process. It’s usually even quicker than signing up at a regular online casino. Just follow these steps:
- Enter your email
- Choose a password and account name
- Select your currency
- Accept the terms and conditions and hit the sign-up button
- Deposit funds into your account
Once you’ve created your account and added your funds, you’ll be able to enjoy all of the latest games. If you want to receive special offers and promotions from the casino, make sure you check the relevant box during the sign-up process.
Best crypto games
Crypto casinos usually offer most of the exact same type of games you’d find at any other online casino. However, many crypto casinos also offer some exclusive games that are only available for crypto users.
Alongside the typical table games like Poker, Blackjack and Roulette you can often find games like Bitcoin Dice and Satoshi Dice which introduce a crypto element to classic games. As well as these, crypto casinos will usually always feature loads of great online slots and classic slot games for you to play.
Here are some of the biggest games that are exclusive to crypto casinos:
Bitcoin Dice was the first-ever Bitcoin-based gambling game and lets players roll dice to win prizes in Bitcoin. Rather than just choosing from six numbers or multiples of six, Bitcoin Dice lets you pick from hundreds of thousands of different digits. Before the game starts, you’ll choose a lucky number and predict whether the dice will roll higher or lower than your number.
Satoshi Dice works in more or less the same way as Bitcoin Dice. The entire betting process is recorded on the blockchain for transparency. RTP of the game is at 98.1% for each of the different betting options that the player can choose.
Keno is like a cross between bingo and lottery, giving you big wins and plenty of excitement. Many crypto sites feature a version of Keno Kong which makes use of the blockchain to produce fair and transparent betting odds. This game variant features lots of unique animations and graphics based on King Kong. Players choose between three and ten lucky numbers which if chosen, give you a win.
Crypto jackpot games
Many crypto casinos have a site-wide progressive jackpot that can reward players at any of their selected games. No matter which game you’re playing, you can win the massive jackpot at any time. Depending on the site, the jackpot may increase over time or be fixed at a certain amount. Many sites have jackpots that are close to or over $1 million in cryptocurrency. These huge jackpots make casino games even more exciting as you never know when your luck might come in.
Most crypto casinos offer typical video slots that you’ll find at any casino, but some sites also offer exclusive crypto-based slots. These slots pay out big prizes of cryptocurrency directly into your wallet. With loads of exciting special bonus features like wilds and free spins, you won’t want to miss out on the action.
Provably fair casinos
Cryptocurrency and blockchain technologies are still a relatively new concept. This means that technology is often still in the developmental phase, and legislative and regulatory restrictions are still being put in place. A lot of countries around the world are still trying to work out how to either control crypto or ban it completely.
Because it’s still a new technology, there have been some questions about how trustworthy and fair cryptocurrency casinos and games can be. With regular casino games, the outcome is determined by a random number generator. For crypto casino games like Bitcoin or Satoshi Dice, independent testing agencies were unsure how to properly prove their fairness.
For this reason, the Provably Fair concept was created and is now implemented be legitimate crypto casinos. When you open a crypto casino, you should get a pop up telling you that the casino is provably fair and safe to use. There should also be a way to see the breakdown of how it works. You’ll be able to view this and see the confirmation that all games on the site are fair.
When a casino uses the Provably Fair technology, it implements random number generators, seed generators and hashing. Don’t just take their word for it, you’ll also be able to find out whether a crypto casino is Probably Fair by checking out our full site review.
How to tell if you’re playing at a provably fair casino
When you’re playing a provably fair game at a provably fair casino, there’s a basic process that ensures that each spin, roll or hand is fair. At the beginning of the game, the casino creates something called a seed number which is then hashed and sent to you. You then add your own seed, and the bet is then played, and the outcome determined.
You’ll then receive the seed used in the bet back from the casino. If the function hasn’t been verified, it’s a big giveaway that the outcome was tampered with and the game wasn’t fair. Provided the hash was untouched, you can be sure that your game was random and fair.
This type of verification gives a lot of extra transparency and security to gambling transactions and removes the element of blind trust from online gambling.
This all sounds very complicated and hard to understand if you’re not well versed in cryptography. Luckily for you, at Xfire, we judge all crypto casinos on their safety and trustworthiness, so you don’t have to. Any casino featured on our site has passed strict Provably Fair tests, and you can rest assured it’s legitimate, and that games on the site are fair.
Crypto casinos – making deposits and withdrawals
Crypto casinos make deposits and withdrawals a much faster and simpler process than most sites. On top of that, you don’t have to worry about the safety of your deposits. Each transaction is added to the public blockchain, which is viewable by all players. This gives you extra transparency and also keeps your fund secure.
Making a crypto deposit
Before you get started playing at an online casino, you’ll need to ensure that you have funds in order to play. Follow these steps to make your first deposit:
- Check the welcome bonus terms. Many crypto casinos will offer matched deposits on your first deposit so check the full terms to make sure you don’t miss out.
- Go to deposits and select cryptocurrency as the payment option.
- You should then get a public address to send your funds to.
- Copy the address and head over to your online crypto wallet.
- Your wallet should have an option to send funds, select this and paste in the address.
- Enter the amount you wish to send and hit send. You should then be able to check the status of the transaction from your wallet.
Making a crypto withdrawal
If you’d like to cash out your winnings or just take some cash out of your account, follow these steps:
- Make sure that you’ve met the wagering requirements of the welcome bonus. Some casinos won’t allow you to make a deposit before this is complete and you could void the bonus.
- Go to withdrawals in your account details and choose cryptocurrency.
- There should be a space to paste in your public wallet address.
- Add in your wallet address and choose the amount you’d like to withdraw.
Most payment methods have their own advantages and disadvantages. Traditional card payments are usually the most popular due to security and low fees. However, many casino users are starting to see the advantages of eWallet services and crypto, which offer quicker transactions and at times, better security.
Players who enjoy extra security and anonymity of their payments will find cryptocurrency to be one of the best available options. Just bear in mind that there are some transaction fees, and some bonuses may be different when using crypto as a form of payment.