Crypto Gambling 101: Essential Tips for Betting with Digital Currencies

Looks like the global pandemic of COVID-19 was the final blow to brick-and-mortar casinos. Sure, they will be around for many years to come. However, the focus has now completely shifted towards the digital side of the industry. You do not need to research a lot before you find countless online casinos. Not all of them are reliable enough for you to play at them, but the number of reliable ones is still high.

One of the ways to notice whether an online casino is reliable and legitimate is to see what payment methods it offers. Nowadays, there are so many of them to choose from. For instance, you can stay “traditional” and use your credit card. However, you can opt for other methods like Pioneer or PayPal. Nevertheless, the latest and hottest trend, by far, is gambling with digital currencies, better known as cryptocurrencies.

Digital currencies are a new concept, and some standard rules for other methods do not apply. At the same time, many elements characteristic of other payment methods are left untouched, like bonuses. If you want to check some of them out, then be sure to visit SatoshiHero. Since this concept has rules and standards, we want to highlight the most important ones for you. Buckle up, and let us begin.

Finding the Right E-Wallet


The first and most important thing to prepare for crypto gambling is finding a proper e-wallet. At first, this aspect might seem easy, but we assure you, it is far from easy. There are countless options, and finding the right is not easy. Each is unique, and let us be honest, not every option is reliable. When we say that, we mean that most of them are not protected from potential hacking breaches.

Furthermore, there is a habit some developers have. We are talking about making e-wallets too complicated. While most of the options added to these are justifiable, we do not believe all of them are necessary. Think about it, the more options, the more chances of doing something wrong. Why is this important to point out? Well, the reason is quite simple: reversing the transactions is impossible.

It is not something uncharacteristic since this is the way the system works. Therefore, you need to be extremely careful before you make any transaction. Always make sure to double-check the address you are sending your funds to. Also, send a proper address when you withdraw money. Otherwise, chances of losing money tend to be quite high. Nobody likes to lose money for no real reason, right?

Select the Proper Casino



The next aspect we want to discuss is finding a reliable casino. We are talking about a lucrative market. So, there are numerous sites whose sole purpose is to swindle visitors. It is more common than you can imagine. Make sure to investigate the reliability and credibility of a website before you decide to send them your money. Fortunately, you can easily find information on practically all online casinos.

First, you should check whether a casino is unlicensed or licensed. Finding this information is easy since websites post it on their homepage or “about us” page. If you are at a website and cannot find it, then be sure to email the owners and ask for it. We would not advise you to play on that particular website if they do not answer satisfactorily. Thankfully, there are so many of them that you are bound to find the one that fits your criteria.

What are the Benefits?


Now that we understand the basics, we want to talk about the benefits of crypto gambling. The one that will make most of the players happy is guaranteed privacy. We all know how big of a problem online privacy is today. Your browsers and different servers gather all the information. So, when you can gamble and stay anonymous, you should take it without any doubt.

Another major benefit of this approach is getting specialized promotions. Some might say this is not anything new, and they have already seen these before. However, what makes cryptos different is that they usually do not depend on the deposits made by players. Instead, they are mainly based on what the online casino has to offer to you. In addition, the terms and conditions are more relaxed.

The final major benefit is fast transactions. Just think about how often you must wait until the weekend is over and your bank is open on Monday to get your prize money. Surely, this happened a lot to all the experienced players. If you opt for crypto, you will not need to wait more than an hour before the funds are on your e-wallet. The reason why they are much faster is simple; there is no intermediary in the procedure.

What are the Downsides?


Lastly, we want to discuss the downsides. One thing people do not like about digital currencies is price fluctuations. While this offers a major opportunity to earn massive amounts of money quickly, this is not usual today. However, that does not mean the value of your bet will not drop quickly. Gamblers do not like when this happens since it affects their potential winnings.

Some consider the lack of accountability a problem with this concept. While we cannot agree with it completely, we cannot say that those who say that is completely wrong. It is a mixed bag. There is no authority over digital currencies, which means there is no control over them besides the system that produces them and handles transactions. Fortunately, some countries found a way to control these and make the environment much safer for players.

The Bottom Line

If you are a beginner in crypto gambling, you must understand the concept before playing. At first, it might be complex to understand some aspects, but if you continue researching, we are confident you will find everything useful. Here, you can find the basic information on the topic. It will surely prepare you for what is to come. We are sure you will find it helpful.