Online Crypto Casino Sites
A Bitcoin casino or crypto casino refers to an online gambling website where you can play casino games, video slots, progressive jackpot games, live dealer games, casino table games and more using various cryptocurrencies.
Today, Bitcoin casinos are more popular than ever before, and if you take a look at the list above, you’ll find a list of the best Bitcoin casinos you can currently join.
In this article, we’ll give you a comprehensive look into what Bitcoin casinos are all about and what you can expect when playing at one for yourself. We’ll show you the different types of cryptocurrencies you can gamble with, how to buy crypto, and how to join Bitcoin casinos.
Let’s kick things off with a look at the top Bitcoin casino sites!
See Related: Understanding Casino Banking
Find Your Currency
Latest Crypto Forum Threads
Different Types of Cryptocurrencies
Today, there are more cryptocurrencies than ever before; Bitcoin is the industry leader, but many other coins exist, most of which are somewhat based on Bitcoin. These other coins are referred to as altcoins.
Below, we’re going to look at some of the different coins you’ll be able to use when playing at crypto casino platforms.
Bitcoin is where it all started in the cryptocurrency world, and unless you’ve been locked away in a cave for the past five years, you’ll almost certainly have seen it talked about on the news. What originally started as a digital currency has fast become one of the world’s most intuitive payment providers. Today, millions of Bitcoin transactions are sent each day, allowing people worldwide to send money to one another without needing to involve banks and without needing to wait very long — most transactions are completed within around 15 minutes.
So, what is Bitcoin, and how does it work? Well, Bitcoin was first developed back in 2009 during the financial crisis. Bitcoin was created, basically, as a middle finger to the big banking institutions. It was a way for the ‘everyday joe’ to take back power over their money.
Fiat currencies like the British pound, the euro and the US dollar are all kinds of what’s known as centralised currencies. Bitcoin, however, is classified as being a decentralised currency. While banks and financial institutions control the former, Bitcoin is controlled instead by a global network of users; these users control and verify all transactions.
That essentially means that your money — the Bitcoin — isn’t controlled by a bank or financial institution. Here’s a great example from Dummies.com explaining the benefit:
“For example, if you live in the United States, but you want to sell your lawnmower to someone in Japan, you can’t sell it for a Japanese yen because the United States uses dollars. But Bitcoin is a worldwide currency. If someone in the United States buys something from a Japanese seller and pays with Bitcoin, there is no conversion rate, no bank delay, and no bank fee.
The money is sent instantly, and there are no attached fees. Bank closed? Banking hours are irrelevant with Bitcoin because there is no bank controlling your money. When we eliminate banks and are able to send a single form of payment regardless of geographical location, we truly create a global economy.
After you buy your goods or services using Bitcoin, you’re done. You’ve made your purchase, and you can go about your day. However, what happens after your transaction is what really sets Bitcoin apart from Centralised Currencies.”
When you make a Bitcoin transaction, it becomes recorded in what’s known as the blockchain; this leaves a public record (although transactions are completely anonymous). To send money, you simply need a wallet address. Once you send your Bitcoin to this address, the funds will arrive in the wallet you chose within 15 minutes or so.
Without getting too deep into the tech side of things, Bitcoin is truly revolutionary. As a result of its popularity, several Bitcoin casino sites have recently popped up, allowing you to play your favourite casino games using Bitcoin and other cryptocurrencies.
Every crypto casino on the planet accepts Bitcoin. Today, there are more Bitcoin casinos than ever before. Bitcoin is easy to buy, easy to trade, and crypto casino platforms are easy to join, so it’s no surprise to see Bitcoin casinos rapidly becoming the ‘go-to’ option for many online gamblers.
On its face, Litecoin is almost identical to Bitcoin, both in terms of how it works and how it’s developed. Still, there are some distinct differences that make it a more appealing option for many players when it comes to crypto casino gambling.
Like Bitcoin, Litecoin is a peer-to-peer cryptocurrency that’s built around an open-source project released under the MIT/X11 license. It’s one of the earliest Bitcoin spinoffs, first making an appearance all the way back in October 2011.
Back in those days, Bitcoin mining — the process of actually getting Bitcoin — was performed almost exclusively by GPUs. That was a concern to many early adopters, and they feared that these (often expensive) GPU setups were becoming too much of a high barrier to entry. In addition to this, CPU resources were quickly becoming obsolete and were almost useless when it came to mining.
To combat this, the team behind Litecoin created a new form of the currency and replaced some of Bitcoin’s code to make it, essentially, easier to mine. Since then, Litecoin has held its place as one of the world’s leading altcoins, and today it boasts a market cap of $11.9 billion.
When it comes to the benefits of Litecoin, aside from the fact that it’s a lot easier to mine than Bitcoin, it’s also a lot faster. For example, most Bitcoin transactions now take at least 15 minutes to complete unless a high fee is set. With Litecoin, however, the average transaction time is just 2.5 minutes. When it comes to playing at a crypto casino, this is great, as it means you don’t have to wait long for the funds to appear in your account.
What’s more, whether you play at a Bitcoin casino or a general crypto casino, you’ll almost always find Litecoin offered as a payment method. It’s popular among players, and the low transaction fees make it a perfect choice for those planning to play with slightly smaller amounts. Litecoin is also really easy to buy, with almost all major exchanges offering it.
Ethereum is, today, one of the most popular cryptocurrencies on the planet, and, like Bitcoin, it’s a blockchain-based, decentralised platform that’s supported directly by millions of machines. Together, these machines work to create a blockchain of transactions, which are encrypted, secure, and tamper-proof. Like Bitcoin’s blockchain, Ethereum’s blockchain is a public ledger that shows all transactions ever made. The actual cryptocurrency is called Ether, although most simply refer to it as Ethereum.
Originally launched back in 2015, Ethereum was quick off the mark and soon became a leading name in the crypto world. It’s designed exclusively for online payments and works on a peer-to-peer format, as we see with most cryptos. While there are some very distinct similarities between Bitcoin and Ethereum, there are also notable differences; most importantly, the speed.
With the Bitcoin network so over congested, it’s common for transactions to now take up to 20-30 minutes to complete; this is far slower than it used to be, and it’s making some question the viability of Bitcoin as a long-term payment solution. Ethereum aims to change that, and ETH transactions are typically completed within around 15 seconds!
What’s more, the transaction fees with Etereum are a lot smaller too. While it has also had network congestion problems of its own, Ethereum is still considered a much faster, more secure and cheaper alternative to Bitcoin. Its market cap isn’t as big, but it’s still worth hundreds of billions of dollars, and it’s pretty much the number two crypto out there in the world today.
Thankfully, it’s incredibly easy to purchase Ethereum, and it’s available at all major exchanges. Almost all Bitcoin casino sites accept it. There are even a few Ethereum-focused casinos popping up, showcasing the popularity of this altcoin!
If you go to any of the best Bitcoin casino sites shown here on this page, you’ll almost certainly be able to make deposits and withdrawals and play your favourite casino games using Ethereum, whose popularity continues to grow as more and more turn away from Bitcoin.
Dogecoin is undoubtedly the most unique cryptocurrency. Here’s a quick extract from Wikipedia giving a rundown on the basics of the coin:
“Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of the wild speculation in cryptocurrencies at the time. Despite its satirical nature, some consider it a legitimate investment prospect. Dogecoin features the face of the Shiba Inu dog from the “Doge” meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community, reaching a market capitalisation of over $85 billion on May 5, 2021.
Dogecoin.com promotes the currency as the “fun and friendly internet currency”, referencing its origins as a joke.
Elon Musk frequently mentions or talks about Dogecoin on his Twitter account, boosting its popularity a significant amount in recent years.”
Around the same time the GAMESTOP saga started to gain traction at the beginning of 2021, Dogecoin also started to grow in popularity — and within just a few weeks, it went from being viewed as a complete joke to having a market cap of more than $50 billion!
Today, Dogecoin is accepted at several Bitcoin gambling sites. Many of the best Bitcoin casino platforms have now integrated Dogecoin support so that you can make deposits and withdrawals, as well as play, in the currency.
Whether it’s a viable long-term investment remains to be seen, but if you’re only looking to gamble in Dogecoin, you’ll be able to find many Bitcoin casinos to do just that at the time of writing!
Ripple is one of the more unique ways for users to send cryptocurrencies online. While Ripple itself isn’t a cryptocurrency, it does have a digital currency (XRP) that acts similarly to the other cryptos we’ve already looked at. So, if Ripple itself isn’t a cryptocurrency, what exactly is it?
Ripple is a real-time gross settlement system, currency exchange and remittance network. It was first created by Ripple Labs Inc, a US-based company, back in 2012. The platform is built on an open-source protocol, and it’s capable of supporting a number of different fiat currencies, digital tokens, commodities and other values — including even frequent flier miles and mobile phone minutes!
In the developer’s words: “Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks.”
However, without going into too much detail about the Ripple protocol, it’s XRP we’ll be covering right here. XRP is the company’s digital token and cryptocurrency. It works somewhat similar to other cryptos, using a public, decentralised blockchain to carry out transactions.
However, where XRP really differs is in the way it records transactions. Instead of using a conventional blockchain, it uses a shared ledger, a distributed database that stores information across all Ripple accounts. This is then managed by an independent network of servers that work together in real-time to compare transaction records and ensure that the transactions are legitimate. They state:
“Ripple validates accounts and balances instantly for payment transmission and delivers payment notification within a few seconds. Payments are irreversible, and there are no chargebacks.”
While XRP is definitely not one of the most common cryptos, nor is it found at too many Bitcoin casinos, it can be found at some, and it gets a mention here as some of the best Bitcoin casinos are starting to feature it and allow players to make deposits and withdrawals using it.
Stellar is one of the newest cryptocurrencies to hit the mainstream. While it has a long way to go to catch up with the likes of Bitcoin and Ethereum, it’s a relatively popular altcoin that the Stellar Development foundation developed.
Initially, Stellar was created to offer users enhanced security, lower transaction costs and greater reliability. Like most altcoins, Stellar was developed on an open-source and decentralised network, and it allows users to make cross-border transactions using any currency pair they like. This is a pretty intuitive idea — something that even Bitcoin is unable to do — and could, in the future, pave the way for companies to ditch conventional banking solutions and payment methods.
Despite its relatively small size (when compared against other cryptos, anyway), Stellar has a very high daily trading cap, with its 24-hour trading volume averaging around $1 billion! Recently, a number of crypto casino sites have started to let players use Stellar to make deposits and withdrawals. Some notable sites, including 1xBit, have recently integrated it into their platform, so it can be used to play casino games.
While not all of the best Bitcoin casinos currently offer Stellar, we’ll likely see it made available at more sites in the future.
Dash is another of the less well-known cryptocurrencies, but it’s available at many Bitcoin casinos, and its popularity appears to be growing. Usually presented as DASH, this crypto was launched back in 2014 and was initially known as XCoin. It aimed to be the first-ever privacy-centric crypto and boasts fully-encrypted transactions, with all records on the blockchain being completely anonymous.
Here’s what the creator of DASH had to say in an interview about why he developed the crypto:
“I discovered Bitcoin in mid-2010 and have been obsessed ever since. After a couple of years in 2012, I started really thinking about how to add anonymity to Bitcoin. I came up with maybe ten ways of doing this, but I soon realised that Bitcoin would never add my code. The developers really want the core protocol to stay the same for the most part and everything else to be implemented on top of it. This was the birth of the concept of Darkcoin.
I implemented X11 in a weekend and found it worked pretty well, and it would give a completely fair start to the currency. What I really was aiming for with X11 is a similar development curve where miners would fight to create small advantages, much like the early start of Bitcoin. I think this is a requirement to create a healthy ecosystem.”
Unfortunately, despite showing some initial promise, DASH never really caught off in the same way as other altcoins, and, as a result, it’s not found at a huge number of crypto casinos. However, some crypto casino sites do offer it — you have to look around a bit harder!
Cardano is one of the lesser-well-known cryptocurrencies, although it’s been growing in popularity in the last 12 months or so. It has seen relatively steady growth since its creation back in 2017. Cardano is a public blockchain platform, and it’s both open-source and decentralised, with transactions carried out and verified using a proof of stake mechanic. It allows users to make peer-to-peer transactions, and it uses its own internal cryptocurrency, Ada, to facilitate this.
Interestingly, Cardano was founded by Charles Hoskinson – the co-founder of Ethereum. The development was based in Zug, Switzerland. At the time of writing, it’s the biggest cryptocurrency to use a proof-of-stake blockchain, which is seen as more environmentally-friendly than other blockchains, which can often end up using quite a lot of energy and electricity.
Despite being a fairly unknown name to many users, Cardano has done pretty well from the get-go. When it made its debut in the crypto world, it had a market cap of $600 million, and at the end of 2017 (the year it launched to the public), it had a market cap of more than $10 billion. In 2018 it skyrocketed, seeing its market cap increase to as much as $33 billion, although the following year it crashed, with the cap returning back to around $10 billion.
Still, despite not doing anywhere near and other cryptos, Cardano is still a fairly popular coin, and many of its supporters say it’s the way forward in offering a more environmentally-friendly blockchain network.
While not all of the best Bitcoin casino sites allow you to make deposits and withdrawals using Cardano, more and more are. This increase ensures that you’re able to play your favourite casino games and join more Bitcoin casinos while making deposits and withdrawals using Cardano.
However, like we’ll see with Bitcoin Cash, purchasing Cardano can be tricky; it’s not offered at many exchanges, and you may have to look a bit harder to be able to find a site where it’s available to purchase and trade.
Bitcoin Cash first appeared back in 2017, and it’s a cryptocurrency that’s a fork of Bitcoin. Wikipedia does a pretty good job of why and how Bitcoin Cash was created:
“Since its inception, Bitcoin users have maintained a common set of rules for the cryptocurrency. On 21 July 2017, bitcoin miners locked in a software upgrade referred to as Bitcoin Improvement Proposal (BIP) 91, which meant that the Segregated Witness upgrade would activate at block 477,120. Segwit controversially would enable second layer solutions on bitcoin, such as the Lightning Network.
A key difference of opinion between Bitcoin users was over the running of nodes. Bitcoin supporters wanted to keep blocks small so that nodes could be operated with fewer resources, while some large block supporters find it acceptable that (due to large block sizes) nodes might only be run by universities, private companies and nonprofits.
A group of bitcoin activists, developers, and China-based miners were unhappy with Bitcoin’s proposed SegWit improvement plans meant to increase bitcoin’s capacity and pushed forward alternative plans which would increase the block size limit to eight megabytes through a hard fork. Supporters of a block size increase were more committed to an on-chain medium of exchange function.”
While Bitcoin Cash is nowhere near as popular as Bitcoin itself — although its supply is the same (21 million coins), it’s becoming somewhat more popular — and you’ll find that many Bitcoin casinos now accept Bitcoin Cash for Bitcoin gambling.
The best Bitcoin casinos typically accept Bitcoin Cash, but we should warn you: it’s not as easy to purchase as other cryptocurrencies. Some of the biggest exchanges around don’t even allow you to purchase it, so you may have to use a site like Binance, which offers a more specialised selection of coins to find it.
Bitcoin Casino Games
Today, a huge number of game developers and software providers have adapted their games, especially for use with crypto. For example, game developers like Pragmatic Play, Play’n Go and Betsoft have all developed versions of their games that display crypto amounts and let players gamble using their crypto.
And this is found almost universally across all Bitcoin casino sites. However, there’s also another unique format of casino games you’ll find at Bitcoin casinos: provably fair games. These are what we’re going to be covering below.
Provably Fair Casino Games
Provably fair games, also known as provably fair casino games, are unique types of casino games specially designed for Bitcoin casino platforms and other crypto-focused online gambling websites. In simple terms, provably fair games refer to specific types of casino games that work in a very different way to conventional casino games you’d find at regular casinos.
Here’s a rundown from Tokens24 about what provably fair games are and how they work:
“Their main feature was fairness. This is because the game takes place on the blockchain. The blockchain itself cannot be fooled, nor can smart contracts or smart contract platforms, which all run on all code.
When you lack human interaction with the results and there is full transparency, you end up with a provably fair game. Although, some may say things like a lottery draw would need to be made public. Some broadcast or make these details available through other means to show fairness.
What Makes these Provably Fair Games Possible?
The short answer is that the blockchain makes this possible. A blockchain that is programmed correctly leaves no possibility for cheating.
Knowing this, games built on a blockchain can be taken as provably fair because they can be definitely proven as fair. They have been built on an underlying level of fairness because the blockchain has transparency.
Organisers can make the source code for the blockchain available and provide verification tools for draws for the lottery.”
You can find provably fair games at almost all Bitcoin casinos today. While they’re not offered from any mainstream software providers, there are some pretty good titles out there, and it’s not hard to see why provably fair games have become so popular among players.
How to Buy and Sell Crypto
Purchasing cryptocurrency may seem like a daunting task at first, but when you know how to do it and where to get it from, it becomes a much easier task. That’s why we’ve decided to include a mini-guide on this page showing you exactly how to buy, sell and trade crypto — and where to do it.
Step One: Choose a Bitcoin Exchange
The first step in your journey to owning cryptocurrency is to find a reputable exchange. An exchange will allow you to buy, sell, trade and hold Bitcoin and various other cryptocurrencies. Generally speaking, you should try to choose an exchange that allows you to withdraw your crypto to your own personal wallet; if the site doesn’t offer this feature, you won’t be able to actually send any crypto to the casino.
This is also relevant in cases where you want to store your cryptocurrency away from an exchange; in your own downloadable wallet, for example. Today, there are more cryptocurrency exchanges than ever before. However, the process of purchasing them isn’t quite as easy as it used to be a few years ago, especially if you want to use debit and credit cards or PayPal.
Some exchanges do allow you to buy and sell Bitcoin while remaining anonymous, but, especially if you’re in the UK, you’re likely going to need to complete a KYC check to verify your identity. If you do find a decentralised exchange that allows you to trade anonymously, be careful, as there’s usually no middle man; you’ll be dealing straight with the seller.
While there are many exchanges operating today, there’s a few that stand out more than the rest. For example, Coinbase, Localbitcoins, Kraken, Binance and Gemini are generally regarded as all being market leaders. They’re all financially regulated too, which means your funds enjoy a certain level of protection.
With the exception of Localbitcoins, all of these exchanges allow you to purchase cryptocurrency using debit and credit cards, so it can often take just a couple of minutes (after completing the KYC check) before you can begin buying.
Step 2: Create Your Exchange Account
Once you’ve settled on an exchange (and we strongly recommend choosing one of the sites we mentioned above), it’s time to create an account. Usually, you’ll need to enter some personal information, connect your phone number, email address and enter your date of birth and address.
While not mandatory at all exchanges, many will require you to set up two-factor authentication; this is a way to ensure that your funds are safe should anyone steal your password. You essentially need to manually confirm, via text message or app, each time you want to withdraw coins from your wallet.
Step 3: Connect a Payment Option + Submit KYC Documents
In most cases, you’re going to be required to upload proof of your identity when joining a reputable exchange. This means that you’ll need to upload a few personal documents when opening your account. Depending on which exchange you join, this includes a driver’s license, passport, and in some cases, proof of where your funds are coming from.
It may seem like quite a lengthy and personal check, but, as financial institutions, these exchanges are subject to the same laws as any other financial company. It’s pretty similar to opening a bank account; you need to prove your name and address.
Once the exchange has verified your identity (this can take anywhere from a few minutes to a few days), you’ll then be able to add your preferred payment method. At the vast majority of exchanges, you’ll be able to connect your bank account directly to the exchange. That means that you can make deposits and withdrawals using faster payments, so it’s all pretty much instant.
You can also use debit and credit cards to purchase Bitcoin and cryptocurrency, but you’ll normally need to undergo additional verification checks if you choose to do so. What’s more, the fees to purchase crypto using your card can add up pretty quickly; exchanges charge a premium for transactions made using debit and credit cards for several reasons.
One thing you should be aware of is that some banks will block payments to some of the major exchanges, particularly when you’re making payments using debit and credit cards. That’s because banks aren’t particularly fond of crypto and view it as a high-risk environment, which is something to be aware of.
Step 4: Purchase Your Crypto
Once your account is up and running and you’ve selected which payment method you’d like to use, it’s time to place your order! If you want to buy your coins using bank transfer, you first need to deposit funds to your account in GBP; once done, you simply purchase your crypto using the GBP funds within your exchange account.
If you want to purchase your crypto using debit and credit cards, you’ll simply need to order and select debit and credit cards when checking out; you may need to undergo additional verification.
Once your purchase is complete, you’ll find your Bitcoin or other cryptocurrencies available in your exchange wallet immediately. You are then free to either hold, sell, trade, or withdraw these coins.
Step 5: Deposit to the Casino
Making a deposit using crypto from your wallet is relatively easy and straightforward. All you really need to do is head to the Bitcoin casino you’re a member of, navigate your way to the cashier and copy the wallet address down.
Once you’ve done this (be sure to check it a few times to make sure you haven’t missed any numbers or characters), simply head back to your exchange wallet, open it up and click ‘send’. You will then need to enter your Bitcoin casino wallet address, choose the amount of money you want to send and confirm the transaction.
As soon as you’ve done this, the exchange will broadcast your transaction onto the blockchain network. From there, it can take anywhere from a few minutes to an hour or so for the funds to appear in your online casino account.
That’s pretty much all there is to it. Of course, Bitcoin exchanges aren’t the only way of getting Bitcoin. We’ll be looking at a couple of other methods below. First, however, we’re going to expand slightly on the topic of a Bitcoin wallet — and look at the two main types of wallets available.
How to Store Bitcoin and Other Cryptocurrencies
Bitcoin and cryptocurrency wallets are, generally speaking, a very secure way of storing your crypto coins. However, there’s one major downside with storing your coins on an exchange, like the ones we’ve just looked at. You don’t really have control over these coins. If the exchange, for example, wanted to pull an exit scam and run away with your coins, or if the site was hacked, you would be at risk of losing them.
That’s one of the reasons why many serious crypto traders recommend having your own personal wallet, one that’s downloaded onto your computer or phone. Some even go as far as to store their coins in cold wallets. Below, we’re going to take a look at the two main types of wallets you’ll come across when buying and selling crypto online.
It’s well worth pointing out that not all crypto wallets are created equal. For example, some wallets only allow you to store one specific type of cryptocurrency, while others are capable of holding multiple coins. Some wallets let you instantly trade one coin for another, while others require you first to sell your coins first and then buy the other desired coin separately.
However, when it comes to storing your Bitcoin, regardless of whether it’s to use at a crypto casino or simply to hold it safe, you have two options; hot wallets (basically online wallets) and cold wallets (paper or hardware-based wallets.) Let’s take a look at how both of these work below.
Hot wallets, known more commonly as online wallets, are the most popular and common type of Bitcoin wallet, and they’re the one you’ll most likely be using unless you’re planning on trading large volumes of crypto. Hot wallets are crypto wallets that run on internet-based connections, and they can be used on devices like desktop computers and laptops along with smartphones and tablets. Naturally, this makes these wallets slightly more susceptible to attacks and hacks, as the private keys (basically the encryption technology that protects your coins) are stored online too.
That means that if a hacker was to get into the exchange where your wallet was hosted, they could, potentially, take ownership of your coins. However, provided you use a reputable company, this shouldn’t be something you need to worry about; their security really is state-of-the-art. What’s more, hot wallets are generally a lot more convenient than cold wallets. They allow you to easily and quickly access your coins and make trades.
If you’re worried about the security implications of using a hot wallet, there are several additional steps you can take to ensure your coins are safe:
- Use a reputable wallet platform: first and foremost, you should only ever store your coins in a wallet you trust. Today, there are many different hot wallet providers to choose from, including Coinbase, Binance, Kraken, Bittylicious, and more. All of these sites have a solid track record in security and safety.
- Set strong passwords: this may sound pretty self-explanatory, but you’d be amazed how many people who end up losing their coins do so because they use a password that’s used at other websites. This means that a savvy hacker could get easy access if they have an account with another website that gets hacked, and their password is the same for their crypto wallet. Always use a unique password when using a hot wallet, and be sure to include a combination of characters, special symbols and numbers.
- Activate two-factor authentication: two-factor authentication (also known as 2FA) is an additional security step designed to protect your coins. It essentially means that, were someone to get into your account, they wouldn’t be able to withdraw or trade any of your coins without completing additional verification. For example, some wallets allow you to link your phone number; any time you make a withdrawal, you’ll have to enter a code sent to your phone by text message; without this code, you won’t be able to withdraw the funds.
As a general rule of thumb, hot wallets are best used for those who’re planning on holding only small amounts of crypto or those who’re only really using crypto to play at Bitcoin casino sites. You can, in some ways, compare a hot wallet to a checking account; you generally would only hold a small amount of money in the account, while the vast majority of your funds are tucked away in a savings or investment account.
As Investopedia points out:
“Exchange wallets are custodial accounts provided by the exchange. The user of this wallet type is not the holder of the private key to the cryptocurrency that is held in this wallet. If an event were to occur wherein the exchange is hacked, or your account becomes compromised, your funds would be lost. The phrase “not your key, not your coin” is heavily repeated within cryptocurrency forums and communities.”
Cold wallets can be a little confusing at first, especially if you’re new to the world of cryptocurrency. The best way of describing how they work is essentially the fact that they’re not wallets connected to the internet. That means that, when used correctly, they’re a lot safer than conventional hot wallets as hackers simply can’t get into a cold wallet. Sometimes, cold wallets are also referred to as offline wallets or hardware wallets.
When you use a cold wallet, your private key — the encryption behind your coins — is not directly connected to the internet. It’s combined with a special piece of software that only connects to the internet when you tell it to, updating prices and letting you view your portfolio without constantly being connected.
There’s a few different types of cold wallet, and arguably the most secure type is that of a paper wallet. A paper wallet is one that you can literally print out on a piece of paper. First, you simply generate your public and private encryption keys from special websites, and then, the only way of accessing your coins in future is to use the piece of paper with the private key on it. Some people go as far as laminating these pieces of paper and storing them in high-security bank vaults. They’re designed mainly for long-term investments and large balances.
Crypto held in paper wallets is not easily sold or traded either, as it takes some pre-planning. This generally isn’t what you’ll want as an online gambler, but we feel it’s important to try and give you an overview of all the different types of wallets.
The second and more common type of cold wallet you’re likely to come across is that of a hardware wallet. These are typically seen in the form of a USB device that stores your private keys securely, although again, offline. Furthermore, these types of wallets are much more secure than hot wallets as they’re holding your keys offline; this means that your private keys never have to come into contact with your network-based computer.
What’s more, the vast majority of hardware wallets are what’s known as open-source; this means the code behind them is public and available to be studied by the whole crypto community. It’s virtually impossible for anyone to manufacture hardware wallets with any hidden backdrops as they’d be detected almost immediately.
If you’re just looking for the best Bitcoin casino, don’t plan on holding your coins for very long and only want them to gamble online, then you don’t need to worry too much about using cold wallets. However, if you get into crypto and want to start investing and building a portfolio, it can be well worth looking into cold storage options as they are a lot more secure than the so-called hot wallets.
Other Ways of Buying Cryptocurrency
While the exchanges, like Coinbase and Kraken, remain the most popular ways for users to purchase cryptocurrency, some alternative methods exist. Below we’re going to be taking a look at some of the other ways you can buy Bitcoin.
All of the exchanges we’ve looked at so far are decentralised exchanges; when you place an order to purchase cryptocurrency, you’re automatically matched up with a seller, and the exchange handles the transaction. You don’t even know who you’re purchasing the coins from; you simply place your order, and within a couple of seconds, the coins are available directly in your account.
However, there are some peer-to-peer (P2P) exchanges too that allow you to connect directly with the sellers and purchase your coins directly. Generally, the prices you’ll be getting when trading this way tend to be a bit better than with the exchanges, although there is slightly more risk. Localbitcoins is arguably the best and most well-known example of a P2P exchange.
Once you’ve signed up for an account, you can essentially browse a listing of everyone selling coins; you can then choose how much you want to buy, and the coins will then go into escrow while you pay the seller. This can be done by a bank transfer, cash, gift cards, PayPal — you name it.
Once the seller has confirmed they’ve received the payment, the coins will be released to you, and you can then keep them in your P2P exchange wallet or send them somewhere else, as you choose.
As Investopedia says:
“Though P2P exchanges do not offer the same anonymity as decentralised exchanges, they allow users the opportunity to shop around for the best deal. Many of these exchanges also provide rating systems so that users have a way to evaluate potential trade partners before transacting.
It’s also possible to purchase Bitcoin and other cryptocurrencies in person; however, this can come with significant risk, especially if you don’t know the person you’re purchasing from and you’re planning on buying large amounts of coins.
How this works is that you find someone online — perhaps they advertise on Facebook, Gumtree or Craigslist — and then you simply go and meet them in person. You hand them the cash, and they’ll send the coins to your wallet there and then.
Generally, this isn’t a recommended method for a couple of reasons. Not only does it carry safety concerns, but it’s also a lot harder to find someone selling coins in person. Usually, you’ll only see this service offered in larger cities.
What’s more, with crypto exchanges more prevalent than ever before, there simply isn’t any real reason to purchase coins in person; it’s an additional hassle, and, to be honest, it simply just isn’t needed.
Bitcoin ATMs (no, we’re not joking) is one of the latest inventions to hit the crypto world, and they act pretty much in the same way as the in-person method we just looked at, albeit with higher fees and greater security. While rare, these Bitcoin ATMs allow you to deposit cash into the machine, and Bitcoins will then be sent to the wallet address you provide.
As you can imagine, it’s pretty hard to find these machines — they’re just not that popular. However, there are a few services dedicated to helping you find these machines. One such service is called Coin ATM Radar.
Bitcoin Casinos and Licensing: What to Know
Bitcoin is, in most jurisdictions, now classified as a digital currency (as are all other cryptocurrencies), and this means that any business that wants to accept it as a legal payment method must follow several regulatory rules and laws.
While Bitcoin is only recognised as a legal payment method in one country, most others still have begun to regulate it. As you may expect, this means that the online gambling side of crypto is also regulated.
Essentially, all forms of online gambling are regulated by the UK’s Gambling Commission in the UK. The UKGC was established to protect players from rogue, scam casinos, and they have an extraordinary amount of power, as they ensure that players from the UK can only join sites that hold a UKGC license.
While the vast majority of Bitcoin casinos around the world automatically block UK players if the site doesn’t hold a UKGC license, unfortunately, some rogue sites will accept players from the UK.
If you choose to play at one of these dodgy Bitcoin gambling sites without a UKGC license, you need to know that if you hit a good win, you may not receive your winnings. What’s more, any winnings you do get paid actually may be taxable income, as the site’s not licensed in the UK.
Because of this, it’s incredibly important to only ever play at Bitcoin casinos that hold a UKGC license. All of the best Bitcoin gambling sites at the top of this page all hold a valid UKGC license, and if you do choose to play at one of these casino sites, you’ll be doing so in a fair, legal and regulated online gambling environment.
From Our Forum: More (possible) Shenanigans From the UKGC
Bitcoin Casino Bonuses
Head to any Bitcoin casino, and you’ll find yourself faced with a welcome bonus of bonuses, promotions and free spins offers. Thankfully, when you play at a Bitcoin casino, you’ll typically be able to claim more generous bonuses than conventional online gambling sites, thanks to the fact that Bitcoin casino platforms tend to have lower overheads.
Below, we’re going to look at some of the main bonuses and promotions you’ll be able to claim when playing at a Bitcoin casino for yourself!
Deposit Bonus and Welcome Bonus
A deposit bonus — usually offered as part of a welcome bonus package — is given to new players when first joining a Bitcoin casino. It is, by far, the most common type of promotion you’ll find at a Bitcoin casino, and a deposit bonus is offered at virtually every site you’ll come across.
So, what is a deposit bonus, and what’s the difference between a deposit bonus and a welcome bonus? Well, the answer to the latter questions is, essentially, nothing. Most casinos offer some form of welcome bonus package, and this welcome bonus package usually comprises a deposit bonus.
A deposit bonus means that the casino will match your deposit by a specific percentage; for example, a pretty standard welcome bonus/deposit bonus package is a 100% matched deposit bonus. That means that whatever amount you deposit on your first deposit will be doubled by the casino.
So, if you were to deposit $100 and claim a deposit bonus as part of a welcome bonus package, the casino would double your initial deposit bringing your total account balance up to $200!
Some Bitcoin casinos can offer high deposit bonus matches; for example, you may find the welcome bonus package offers you a 200% matched deposit bonus, or even a 300% matched deposit bonus — this is almost unheard of at conventional casinos.
Once you claim a deposit bonus, the funds will be made available to your account right away. Plus, some sites offer multiple deposit bonus offers as part of their welcome bonus package.
For example, you may be able to claim a welcome bonus package and get a deposit bonus on your first three deposits — this is an excellent way of trying out a new crypto casino without having to risk as much of your own money!
Head to pretty much any online casino today — crypto or not — and one of the promotions you’ll see advertised almost everywhere is free spins. Free spins are loved by players from all corners of the globe, and it’s not hard to see why. With video slots’ popularity at an all-time high, casinos are looking at ways to tie this in with the bonuses and promotions they’re offering, and free spins are one of the best ways of doing just that.
So, what are free spins, and how do you use free spins at crypto sites? Well, as the name suggests, free spins allow you to play on a particular video slot a select number of times for free, hence the term free spins. Sometimes, this video slot is a pre-selected game from the casino, while other times, you’ll have a choice over which game you choose to use your free spins on.
Free spins can be awarded as part of a welcome bonus package, or free spins can be awarded independently. For example, many casinos will offer you a certain number of free spins simply for signing up, while other sites will give you, say, 200 free spins the first time you make a deposit.
Not only are free spins a great way to try out a new video slot without having to risk any of your own money, but they’re also a fantastic chance for you to win some real money! That’s because any winnings from your free spins go straight into your bonus balance — and you can then play whatever casino games you like!
Most of the casinos you’ll see listed here on this page offer free spins in one form or another, and you don’t typically have to look far to find a decent free spins promotion!
No Deposit Bonus
A no deposit bonus is another incredibly popular type of bonus that you’ll find offered at a wide variety of crypto sites, and while they’re not as common as they were ten years ago, they can still be found.
As the name indicates, a no deposit bonus means you’re given a bonus — it could be free spins or a bonus money chip — without you needing to make a deposit when joining a new casino. For example, some sites will give you a no-deposit bonus simply for signing up, while others will provide you with no deposit free spins when you create an account and verify your email address.
No deposit bonuses are highly sought after since, as the name suggests, there’s no deposit required. That means you’re able to win real money without having to risk any of your own. At crypto sites, their max cashout limit is typically much higher than the ones found at conventional casinos, so you could find yourself winning a few hundred quid if you get lucky!
We should point out that no-deposit bonuses usually do come with quite a few terms and conditions attached since casinos can’t afford to give away endless free money. But even with these terms and conditions, they’re still an excellent option for the vast majority of players, and it’s something you should look out for when choosing a new site to join.
Most crypto casinos have a VIP or loyalty programme in place, and if you’ve ever thought about what it means to be a VIP, then this is your chance. First, let’s take a look at the three core ways in which you can become a VIP player:
- Invitation: invitation-only VIP programmes are the most common types of entry into a VIP system. This format means that you’ll only be eligible to join the VIP scheme once a member from the VIP team or casino management team invites you to join.
- Merit of play: In many cases, this format is slightly more difficult to reach, and it requires you to be a very loyal player at an online casino. To access a VIP programme in this way, you’ll need to frequently make deposits, play at high levels and be considered one of the site’s top-staking players.
- Tier-based programs: the final way you’ll see used at certain online casinos is the tiered-based system. These are probably the second most common type of VIP entry system, and a casino will have many tiers in place; the more you play, the more points you earn, and you gradually work your way through these tiers.
As you work your way up a casino’s VIP programme, you can expect to receive special bonuses like free spins, reload bonuses, and, if you’re a really high VIP, even holidays and luxury watches!
How to Play at Crypto-Focused Casinos
Are you ready to begin playing at a new Bitcoin casino? Found yourself prepared to take the plunge into Bitcoin gambling? Then let’s take a look at how to start successfully playing at the best Bitcoin casino!
Step 1: Create Your Account
The first thing that you need to do is go ahead and choose which Bitcoin casino you’d like to join. You should consider certain factors when deciding upon a new casino, and in another section of this page, you’ll be able to view a breakdown of what we look for when deciding upon the best Bitcoin gambling sites.
Once you’ve found a site that you like the look of, or if you see a deposit bonus that you like, then it’s time to sign-up and create an account. This is usually a fairly straightforward process; simply choose a casino from the list above, enter a few personal details, confirm your email address or phone number, and you’ll be all set!
At this stage, if you’re based in the UK, you’ll also be prompted to submit your identification documents.
Step 2: Buy Crypto
Once your Bitcoin casino account is up and running, the next step is to buy your cryptocurrency; for the purpose of this summary, we’ll assume you’re looking to buy Bitcoin. If you already hold your prefered cryptocurrency, then you can go ahead and skip this step.
Once you’re ready, you’ll need to go ahead and purchase your Bitcoin. The easiest way to do this is through what’s known as an exchange. This allows you to make a purchase using debit and credit cards or by funding your account using bank transfer, and you’ll then be able to buy your cryptocurrency, which is then held in your exchange wallet.
Some of the more popular exchanges for buying Bitcoin include Coinbase, Kraken, Gemini, Bitstamp, Binance and CoinFloor. All of these exchanges are relatively easy to join, although you will need to complete an identification check before you’re able to make your first purchase.
Once you’ve purchased your coins, you then need to decide whether to keep them in your exchange wallet or download a wallet to your computer. The latter is safer, as it means no exchange can run away with your coins, but it also requires a slightly higher level of crypto knowledge, and it can also take a couple of days to download and install the software.
Step 3: Deposit
Once you’ve purchased Bitcoin, you’re ready to go ahead and make your deposit at the Bitcoin casino you’ve chosen to join. First of all, you’ll want to go into the cashier section and select Bitcoin; you’ll then be given a unique wallet address, and this is the address you’ll need to send your Bitcoin to.
Carefully copy the wallet address and head to your wallet; then, you simply select how many coins you want to send, input the wallet address and confirm the transaction.
Once you’ve done so, you’ll then need to wait until your transaction appears on the blockchain; this is usually done within 15 minutes, although, sometimes, it can take a few hours if the network is particularly congested.
Step 4: Begin Playing
Once the Bitcoin gambling site you’ve chosen to play at has received your deposit, the funds will be available in your account right away! Depending on whether you’ve chosen to claim a deposit bonus or not, you can then go and begin playing your favourite casino games. However, be aware that some casino sites don’t allow you to use deposit bonus funds on casino table games like roulette and blackjack,
Today, cryptocurrency casinos offer a huge selection of games, and you’ll often find their offerings far greater than those found at conventional online casinos. For example, along with normal casino games, you’ll also often run into what is known as provably fair games. We’ll cover details of these provably fair games in another section on this page.
Step 5: Withdraw Your Winnings
If you get lucky and manage to hit a win while playing at one of the best Bitcoin casinos we’ve listed here on this page, it’s then time for you to make a withdrawal! Thankfully, this process is just as easy as making a deposit, although reversed.
For example, the first thing that you need to do is to head to your Bitcoin wallet. Here, you’ll need to copy the wallet address for you to receive Bitcoin. Once you’ve done so, simply head to the cashier section at the Bitcoin casino, enter your wallet address and choose how much you’d like to withdraw.
The withdrawal request will then be sent to the casino. Provided your account is already verified, you shouldn’t have to wait long for the funds to hit your wallet, at which point you can go ahead and sell your Bitcoin for cash or deposit it to another Bitcoin casino as you choose.
Pros and Cons of Cryptocurrency Casinos
As with anything worthwhile, playing at crypto casinos has a wide variety of different advantages and disadvantages. Below, we’re going to run through some of the most common and noticeable ones. Let’s first take a look at the main advantages of playing at Bitcoin casino sites.
From Our Forum: Online Slotting is Well and Truly Over in the UK
Advantages of Crypto Casinos
There are many advantages to joining a Bitcoin casino. Arguably the biggest benefit — albeit the one that’s given crypto somewhat of a bad name — is that crypto transactions are very private and secure. By nature, Bitcoin transactions are anonymous. When you make deposits and withdrawals, your personal and sensitive information isn’t available to casinos, as it would be were you using debit and credit cards or e-wallets.
While it’s certainly true that your crypto wallet may be linked to your transaction, there’s no identifying information attached alongside it. Moreover, because all transactions made on the blockchain are encrypted, there’s no chance of malicious third parties being able to ‘hack’ or steal your sensitive information.
The second major advantage of crypto — and one that’s very prevalent at the best Bitcoin casino sites — is that crypto has very low fees. While it’s usual for you to pay a small fee when purchasing your cryptocurrency or making a transaction, it’s usually tiny. When compared against more conventional payment methods, it’s remarkably cheaper.
The third major advantage of using cryptocurrency is that you’re able to make near-instant deposits and withdrawals. For example, once you’ve made a withdrawal and the Bitcoin gambling site has approved it, the funds will be made available in your crypto wallet almost immediately.
That means that you don’t have to wait days or even weeks as you do when you use more conventional payment methods like debit and credit cards or e-wallets.
Disadvantages of Crypto Casinos
As you’d expect, it’s not all good news when it comes to crypto, and there are many downsides to using cryptocurrency when online gambling. The first major disadvantage is the lack of protection. Because Bitcoin is decentralised, there are no banks involved in the transaction process, which means there’s much less protection for you, the player, if things go wrong.
For example, if you accidentally send your crypto funds to the wrong wallet address, there’s virtually zero chance of ever getting them back. What’s more, if you choose to play at a dodgy, unlicensed casino, you can’t call the bank and ask them to start a chargeback, as you could if you were playing with fiat currencies.
This is why it’s so important to choose a reputable Bitcoin casino when playing with crypto, and always double-check the wallet address you’re depositing/withdrawing to and from.
The second major disadvantage of crypto is the simple fact that it’s not accepted at many UK-licensed online casinos yet. Unfortunately, despite crypto growing in popularity, there’s still much confusion and misconceptions surrounding it, and many regulators even still believe it’s only used by criminals.
Because of this, many online gambling regulators (including those in the UK) have been hesitant to begin allowing online casinos to start using it, and online casinos themselves are also cautious, worried about how they’ll be able to verify player identities. That means that if you’re based in the UK, you’ll only have a small selection of the best Bitcoin casinos to choose from; the vast majority are licensed outside of the UK and don’t accept UK players.
The third disadvantage you need to bear in mind is that cryptocurrencies are very volatile. For example, Bitcoin commonly gains or loses as much as 10% in value during a day — this can grow to as much as 40% over a week!
If you choose to hold your cryptocurrency, there’s a strong chance you could see significant price movement in either direction; this is very different from holding your money in a conventional bank account.
What are some popular cryptocurrencies?
Today, there are hundreds of different cryptocurrencies; however, only a few of them are considered mainstream, and even fewer are accepted at most crypto casino sites.
Generally speaking, you’ll find that the leading cryptos available to gamble with today include Bitcoin, Litecoin, Ethereum and Bitcoin Cash. Others are available, like Dogecoin, but they are nowhere near as popular as the others.
Where can I find safe crypto casinos?
If you’re looking for the best crypto casino sites, the best crypto casino games and the safest places to play, then look no further than the list you’ll see right at the top of this page. All of these Bitcoin casinos have been thoroughly vetted by our team of online gambling experts, and all of these Bitcoin casino sites have shown themselves to operate safely.
What’s more, thanks to our partnerships with many of these casinos, you’ll often find yourself able to claim free spins, great deposit bonus offers and more when you join. All you need to do is check out the list of Bitcoin casino sites at the top and choose one that you like the look of! You’ll then be taken automatically to the site’s sign-up page, where you can create an account and begin playing!
Do crypto casinos need an online gambling license?
Yes. While it’s true that there are some Bitcoin casino sites operating without any type of online gambling license whatsoever, legally, regardless of where a casino is based, it’s required to hold a valid online gambling license.
When it comes to crypto casino sites, many regulators have been reluctant to get too involved in crypto, which has led to many sites choosing to receive an online gambling license in Curacao — a notoriously weak licensing regulator.
However, make no mistakes; any Bitcoin casino needs to hold a valid and legal online gambling license regardless of where it’s operating from. If they don’t have one, you have little to no recourse in case things go wrong, and there’s a strong chance that you won’t end up getting paid your winnings, should you hit a nice win.
Can I play at crypto casinos from the UK?
Yes, you can; however, your options are a lot more limited than what you’d find available if you were residing in another country. The reason behind this all comes down to the laws and online gambling regulations in the UK that stipulates that any casino — regardless of where it operates from in the world — that wants to accept players from the United Kingdom must hold a valid online gambling license from the UKGC.
Unfortunately, only a few UKGC-licensed casinos have started to accept cryptocurrencies. This is mainly because many are worried about how to perform Source of Wealth checks on players using cryptocurrency.
In the future, we’ll likely see more Bitcoin gambling sites opening up to the UK market, but for now, you don’t have a lot of choices, and your options are pretty limited.
How do I buy crypto?
There are several different ways to purchase crypto.
For example, some Bitcoin casinos will allow you to purchase Bitcoin directly through their website. This will require you to use a third-party payment provider, requiring you to use debit and credit cards.
The more popular way of purchasing crypto is to use a third-party exchange platform or service; some notable examples of these include Binance, Coinbase and Bittylicious.
We’ve written up a list of some different ways to purchase cryptocurrency, and you can find out more about it further up on this page.
Do I need to verify my account at crypto casinos?
This depends entirely on the casino you choose to play at. If you play at a site that’s licensed by the UK’s Gambling Commission, for example, then yes, you will need to verify your identity; this is a legal requirement, and it applies to both regular and Bitcoin casino sites.
However, many of the Curacao-licensed casinos don’t tend to ask for verification documents; this may sound appealing to players at first, but you need to carefully consider the risks of playing at such a casino. For example, with a weak online gambling license, they may operate unethically and try to prevent you from withdrawing your winnings.
If you’re looking for the best Bitcoin casinos, make sure you choose one of the sites listed here on this page; these sites have all shown themselves to be trustworthy and reputable, and our team of online gambling experts have thoroughly vetted them.
How fast are crypto withdrawals?
One of the biggest benefits of playing at online casinos using cryptocurrencies is that withdrawals, once processed by the casinos, are nearly instantaneous. For example, when playing at fiat-based online casinos, it can take several days for you to receive your winnings back into your bank account.
With crypto, however, it’s almost always completed within just an hour or two — and that’s for crypto like Bitcoin that runs on a somewhat congested network. It can take a lot less time for the smaller cryptocurrencies, with transactions often completed within 5-15 minutes.
Of course, the speed at which you’ll receive your withdrawals still depends on how fast the finance team at the casino processes withdrawals, but many crypto sites process instant withdrawals anyway. So you can see why so many players are leaning towards crypto sites these days.
Are there minimum deposit limits?
Yes, usually. Because all cryptocurrencies have small network fees, most casinos cannot accept deposits under a certain monetary value. For example, you’ll often see crypto casinos that say something like, “we are unable to accept Bitcoin deposits of under $20.”
However, only Bitcoin and Ethereum usually have somewhat high minimum deposit limits. For example, Litecoin is typically just a couple of pounds, while other cryptos can cost even less to send. Generally speaking, the minimum deposit limits you’ll find at crypto-based casinos is either the same or lower than those found at other non-crypto casinos.
What is the blockchain?
The blockchain is what Bitcoin and many other cryptocurrencies run on. Essentially, it’s a digital ledger of transactions; each time a new transaction is made, this blockchain is duplicated and distributed across all of the computers and systems currently running on the network.
Technically, it’s a pretty complex piece of technology — although, thankfully, you don’t need to know anything about how it works in order to begin purchasing cryptocurrency or to begin playing at online gambling sites.
Can I claim a welcome bonus if I deposit with crypto?
Yes, you can. It’s actually one of the main benefits of playing at a crypto casino when compared to other online casino sites. You see, at conventional, fiat-based casinos, sites have to pay a transaction fee each time you make a deposit using debit and credit cards or e-wallets; this may be only 2 or 3%, but it can add up over time.
With crypto, the casinos don’t have to pay these transaction fees, which allows them to offer higher welcome bonus offers, often with lower wagering requirements than the bonuses you’d find at ‘normal’ casinos.
So, in short, yes, you can claim a welcome bonus or deposit bonus at crypto casinos. The good news is that if you join a crypto casino, you’ll often find that the bonuses on offer are more generous than those found at other online casinos.