Crypto Casino & Gambling 2021
Simply put, the term ‘crypto casinos’ refers to any online casino or sports betting agency that allows payments and disbursement of winnings through cryptocurrencies like Bitcoin, Ethereum, Dogecoin, or fiat currency. In the last few years, a wide range of cryptocurrency casinos has sprung to provide tailor-made games and gambling services for gamblers looking to make transactions in Bitcoin rather than fiat currency.
The most common advantage of using online crypto casinos to gamble is the increased level of anonymity offered by cryptocurrencies. The Bitcoin blockchain does not store any private details regarding Bitcoin owners or, in this case, gamblers. Besides, most casinos do not require gamblers to submit any private information. When they do so, it is to meet regulatory requirements by the law.
Online crypto casinos provide classic casino games such as blackjack, roulette, and sports-based gambling, lotteries, and spread betting. Instead of using the word BTC or ‘Bitcoin,’ most crypto casinos use the term ‘mBTC’ or ‘millibitcoin.’ Millibitcoin means one-thousandth of a Bitcoin (0.001 BTC).
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Best Crypto Casino
Before choosing a crypto casino, there are a few factors you have to consider. Gambling online goes side by side with certain risks. One of the biggest myths of online gambling is that most of these online casinos do not facilitate the withdrawal of winnings. Although it is true to some extent that some of these sites take advantage of their users, there are a lot of reputable and trustworthy Bitcoin casinos out there.
With many cryptocurrency gambling platforms to choose from, choosing the best crypto trading platform to wager your money can prove to be a hard task. Before we look at some of the best crypto casinos in the industry, I’m betting that you are looking to put your money in a reliable and secure platform. For that, you will need to choose a trusted gambling platform, and here are some tips to help you choose the best and adequate gambling website where you can have both fun and success:
- Trust: Digging up information from review sites and customer feedback platforms on different gambling sites can greatly help. There are several customer feedback publications and review sites online for casinos and other games, but only a few are tailor-made for gamblers. Dapp Casino have outstanding reviews and can be very helpful in finding a good online gambling platform. They provide you with comprehensive information regarding various online crypto casinos.
- Bonuses and offers provided: It is very unusual nowadays for gambling websites not to offer new users deposit or no deposit bonuses and free bets. In your hunt, you should consider the online crypto casino with the best offers. Besides that, you can also try and find the gambling sites with the leading offers on Rakeback percentages.
- Events: You should consider picking platforms that offer massive events.
- Gambler volume: Although this does not apply to all casino games, e.g., poker), the number of active players is also an important factor to consider. You should target a crypto gambling platform that has a sizable number of active players.
- User interface: The ease of use on a platform is an important aspect to look at before choosing a gambling platform. The interface must be interactive and easy to navigate.
- The number of cryptocurrencies supported: Most crypto casinos only support popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Dogecoin. The more the number of digital assets supported, the more flexible a platform is.
New Crypto Casinos 2021
Using blockchain technology, a new wave of next-gen gambling dapps is transforming the online betting industry. Crypto casinos, using blockchain technology, offer unique benefits to their users, improving their overall gambling experience.
Although the Dapp ecosystem covers different blockchain infrastructures, many crypto casinos are hosted on the Ethereum blockchain. Most developers prefer to build on the Ethereum network due to its exceptional building tools, vast community, and sizable documentation. As such, the development and execution of crypto casinos on Ethereum have become more efficient and cheaper compared to other blockchain networks.
Despite that, the recent decline in the number of active gambling wallets on the Ethereum network implies that the ongoing network congestion issue is becoming a challenge for gamblers. Network congestion hikes network fees referred to as ‘gas’ on Ethereum’s infrastructure, which disparages the user experience. As a result, many crypto casino gamblers have migrated from the Ethereum network to gambling dapps hosted in less congested blockchains like TRON and EOS.
- TRON network: Tron has been described as the blockchain-based Las Vegas due to its prowess in nurturing a successful crypto casino market. Notably, TRON gambling accounts for nearly 60 percent of the blockchain’s daily active users.
- EOS network: More than two-thirds of the EOS network involves some type of gambling. As of October last year, an average of $4 million daily was roughly spent on gambling Dapps. The most popular gambling casino on EOS is DICE, which allows gamblers to win DICE tokens after engaging in games such as blackjack, roulette, and baccarat.
Popular Cryptocurrency Casinos
It doesn’t matter whether you are playing classic roulette, poker, blackjack, or sports betting; you will need to make a wise decision on where to wager your funds. If you are a cryptocurrency enthusiast and looking to gamble with Bitcoin, follow the above tips and do your research before joining a crypto casino. Luckily for you, we have prepared a list of the best crypto casinos to choose from. Here are a few reputable sites:
7 Bit Casino offers a variety of mouth-watering bonuses and promotions to its clients. Besides, the crypto casino provides more than 4,000 real money slots and games on its casino lobby, powered by over 60 top providers like Microgaming and iSoftBet. You can filter out the games based on factors like risk, bonus rounds, and various others. 7 Bit Casino supports both crypto and fiat transactions.
mBit was launched back in 2014 and was among the earliest crypto casinos to be established. Since then, the crypto gambling platform has become a major player in the crypto casino space. The platform is owned by Direx N.V., a fully registered business establishment under Curacao eGaming laws.
mBit has an attractive and easy-to-use interface that holds a modernistic appeal. It has a variety of more than 2,000 games from leading providers for gamblers to choose from.
1xBit is a multilingual online crypto casino that supports more than 52 different languages. The minimum deposit amount is $1, and it supports 24 different currencies, including Bitcoin, Etgereum, Dogecoin, Litecoin, e.t.c. It has a massive welcome bonus of up to 7 BTC.
Advantages of Crypto Casinos
- Transparency and openness: Blockchain technology has improved the level of transparency in the online betting industry. In the traditional online gambling system, the gamblers have to choose to trust the service providers to manage even-handedly. However, crypto casinos can explicitly exhibit their impartiality. As a digitally accessible public ledger, blockchain networks can record all the gaming events, including transactions, wins, losses, in an open and unalterable way.
- Pliant transfer of value: Gambling casinos carry out transactions in cryptocurrency tokens as opposed to cash. In essence, users can deposit funds into their accounts and withdraw using cryptocurrency wallets rather than submitting sensitive banking information such as credit/debit card information. Cryptocurrency payouts can also facilitate swift payouts in real-time to any part of the world without geographical barriers.
- Ease of access: The gambling industry must navigate regulatory hurdles in many countries around the world. As such, online gambling is geographically restricted across many nations in the world. Fortunately, crypto casinos are hosted on decentralized networks. They are naturally censorship-resistant, meaning that their powering network is not vulnerable to a central point of failure or authorized deactivation.
Privacy: Traditional casino service providers require new users to submit some private information to access gambling services. This requisite holds out on a variety of gambling service providers. Conversely, crypto casinos safeguard your private details by linking your gambling activities with a blockchain address consisting of a string of random alpha-numeric characters. This improved level of privacy enables gamblers to transact on these crypto casinos without revealing their identity.
Differences Between Dapp Casino and Crypto Casino
Although both operate using cryptocurrencies, there are key differences between a crypto casino and a dapp casino. First, crypto casinos are not decentralized, while dapp casinos are fully decentralized. Crypto casinos are based online and are under the control of a managing body, while dapp casinos are entirely based on the blockchain and operate autonomously.
Additionally, crypto casinos can accept both crypto and fiat transactions. On the other hand, dapp casinos only facilitate crypto transactions, and fiat currencies have no place since it is entirely blockchain-based.
Are Crypto Casinos Legal?
Online crypto casinos are pretty fresh in the market, and legislation in that sector is very raw. As such, a lot of open space has been left for speculation regarding the sector’s future. The sector has seen rapid growth, and more and more gamblers are switching to Bitcoin gambling to improve their gambling experience. Blockchain technology is solid and provides an element of transparency and impartiality.
The laws surrounding development as cryptocurrency adoption extends across the world. Generally, the cryptocurrency landscape is constantly developing, and keeping abreast of every regulation set to govern them is a tough task. For instance, the rules governing cryptocurrencies in the United States vary from state to state. After noting this, it is worth noting there are no single, discernible laws governing cryptocurrency casinos. However, some vital points are worth noting:
- Overall, no clear-cut regulations are governing the cryptocurrency gambling and betting industry. Crypto casinos are neither illegal nor outlawed.
- The regulatory perspective towards Bitcoin is quickly changing, and more and more nations are starting to view cryptocurrencies favorably and started to discuss legislation to regulate them. However, most governments do not acknowledge cryptocurrencies as currencies. As such, the regulatory guidelines governing online fiat casinos should not translate to online crypto casinos.
- Regardless of the above point, in developed countries where gambling is not permitted like the U.S., the authorities can decide to lay down tough measures against online crypto casinos and betting using cryptocurrencies.
- One of the key advantages of crypto casinos is the anonymity provided by blockchain technology. Crypto transactions coupled with technologies like Tor invisibility means that authorities cannot trace Bitcoin gamblers.
- Some of the top gambling authorities are already granting licenses to crypto casinos. For instance, Curacao and the United Kingdom do this. This means that the authorities are responsible for the operation of cryptocurrency gambling businesses, as long as the online Bitcoin casino complies with the guidelines set by the body.
Should an Online Crypto Casino Have License?
It would be helpful to know that for an igaming business to be approved as a merchant bank account, a gambling license must allow them to operate e-payments. All cryptocurrency casino transactions are handled internally, and there is no need for third-party payment processors. All payments are almost instantaneous, and the transaction happens directly between the gambler and the casino. Crypto casinos powered by cryptocurrencies alone do not require to present a gaming license to any banking institution from this point of view. For this reason, it can be argued that a gambling license is not an essential condition for accepting payments.
From another perspective, many gamblers discern crypto casinos the same way as traditional casinos. They need a guarantee that if they decide to deposit their extra cash, it will be on a secure and trustworthy platform. Most gamblers want their rights to be protected by a sovereign authority. To win the trust of gamblers and for marketing reasons, we can argue that a gambling license is an important document to obtain from leading gaming agencies.
Mobile Crypto Casinos
The ownership of mobile phones is at its peak, and more people are pushing to get their hands on the latest smartphone models in the market. Crypto casinos are fully alert of the expanding mobile phone traffic, and they have customized their websites to be mobile-friendly. They have created mobile phone applications for Android and IoS mobile versions to make their sites easily accessible.
Crypto Casino Bonus
Bitcoin casino bonus is a marketing strategy to get more players into the platform. Crypto casino bonuses include free spins, bonus codes, and no deposit bonuses. Besides, this also benefits the player by supplementing their stake.