A Beginner’s Guide to Cryptocurrency
Cryptocurrency and its underlying technology, the blockchain, is the most influential and disruptive form of technology right now.
Cryptocurrencies like Bitcoin and Ethereum are gaining widespread acceptance and are used for investments, operations, and online payment of products and services. For example, with its promise of private, convenient, and anonymous transactions, more online casinos now accept cryptocurrencies for payments. In addition, these crypto casinos feature lucrative bonuses and Bitcoin-ready casino games that are provably fair.
It’s an exciting time to sign up for a casino account and play the best casino games using cryptocurrencies. But before you play, make sure to review crypto’s basics and compare the top gambling sites that accept this payment option. Our primer on crypto serves as your guide on the basics of crypto gambling, your crypto options, and tips on picking the right site!
TOP CRYPTO CASINOS IN INDIA
100% sports bonus up to 10,000 INR and a 100% casino bonus up to 25,000 INR.
If you’re new to 22Bet India, you’re in for a treat! The welcome offers include a 100% sports bonus up to 10,000 INR and a 100% casino bonus up to 25,000 INR.
- Diverse betting options with over 50 sports and 3,000+ casino games.
- Attractive promotions, including a generous welcome bonus and regular tournaments.
- Flexible payment methods, including cryptocurrency options like Bitcoin and also Indian Rupees
- Seamless mobile experience with a dedicated app for iOS and Android users.
Monthly Loyalty Program with up to 25% cashback
Stake Online Casino frequently runs exclusive promotions for Indian players, celebrating festivals, events, or special occasions. These promotions may include bonus offers, cashback rewards, leaderboard competitions, or unique experiences tailored to the Indian gaming community
- Stake Online Casino offers a diverse range of games specifically catering to Indian players, including popular titles like Andar Bahar and Teen Patti.
- Indian players can enjoy a seamless gaming experience with a variety of localized payment options, making deposits and withdrawals convenient and hassle-free.
- Stake Casino values the Indian gaming community by providing tailored promotions, bonuses, and events that respect and celebrate Indian culture.
- Stake provides multilingual customer support, ensuring that Indian players can receive assistance in their preferred language.
10,000 USDT cashback and more than 350 Free Spins
Over 3,200 games and more than 33 credible software and game providers. They have some of the best odds in the market and offer both live and other betting options. Accepts cryptocurrencies. Their referral bonus is up to 10,000 USDT cashback and more than 350 Free Spins.
- A wide variety of games, including slots, table games, live dealer options, and more.
- Bitcasino.io accepts multiple cryptocurrencies, providing convenient and secure payment options for players.
- Bitcasino.io offers enticing bonuses, promotions, and rewards to enhance the gaming experience.
100% First Deposit Bonus up to ₹20,000
100% First Deposit Bonus up to ₹20,000 At 1xBet, new players can double their initial deposit up to ₹20,000.
- Popular betting site that boasts over 400,000 users
- Boasts a premium sportsbook that hosts over 1,000 events daily
What is Cryptocurrency
A cryptocurrency is a digital currency that relies on cryptography to secure online transactions. It takes its name from ‘encryption,’ the technology used to verify the transactions.
Compared to traditional fiat currencies, cryptocurrencies don’t rely on banks to verify transactions. Instead, the technology works using a peer-to-peer protocol and transactions recorded in a public ledger. Since it removes the traditional intermediaries, payments are fast and almost free.
There are dozens of cryptocurrencies in circulation now, with Bitcoin and Ethereum as the most popular in many casinos. These two are the most valuable and widely traded coins in the market.
Why use cryptocurrencies for online gambling?
Cryptocurrencies are popular among casino players for several reasons:
- Secure and mostly anonymous transactions. Using cryptocurrencies, players can enjoy safe and mostly anonymous payments. They don’t need to share banking or personal information to deposit funds. Information is private, and only the player can access his account.
- Fast and almost instant transactions. With your cryptocurrency, deposits and withdrawals are fast, allowing players to enjoy their favorite casino games. Deposits can take a few minutes, and even sites offer instant deposits! Unlike bank transfers or card payments, you don’t need to wait for days to enjoy your winnings.
Cheaper to no transaction fees. You don’t need to worry about high transaction fees when depositing or withdrawing funds with crypto. However, some casinos require a ‘small gas fee’ to cover the verification of the transactions on the blockchain. In addition, chargebacks are not possible with cryptocurrencies like Bitcoin, thus protecting players from potential fraud.
How to Play with Cryptocurrencies
There are several factors to consider when one wants to gamble with cryptocurrency, with the choice of where to buy the coins as the primary consideration safely.
The most common option is to buy your cryptocurrencies at online exchanges and brokers. You’ll need an email address and a government-issued ID to pass the KYC process and create an account. Once approved, you can now fund your account and buy your preferred digital currencies. There’s also an option to join peer-to-peer networks to buy or exchange cryptocurrencies directly. However, compared to the traditional way of purchasing digital coins, in a P2P, there’s no central authority that oversees the transaction.
Your crypto wallet is another factor to consider when buying crypto. It stores your cryptocurrency as well as your winnings. Several storage options are available, and some of these wallets are free.
Of course, buying a premium wallet gives you better security and access to other helpful tools. For example, hardware devices like Trezor and Ledger Nano X protect your coins from malware by isolating them from the web. However, storing crypto for online gambling can be inconvenient.
Start Playing with Crypto Today!
You’re ready to top up your account and play your favorite casino games with a funded crypto wallet. You’ll find dozens of online casinos that accept crypto, and this list will continue to grow. If you’re a beginner or simply want to learn more about crypto gambling, our reviews and list of top crypto casinos can serve as your guide.
Our team checks and compares these gambling sites and their offerings so you can focus on what’s important: to play at a reputable casino and enjoy the perks of crypto gambling!