While many people enjoy the thrill of playing in brick-and-mortar establishments, online crypto casinos are an increasingly popular way to gamble. True crypto casinos allow wallet-to-wallet transfers, where there’s no third-party middleman involved. Simply send the crypto to another wallet and start playing on a bitcoin or crypto casino.
There are various reasons why people prefer to do direct transfers, but low costs, speeds, and encrypted security are some that quickly come to mind. Playing with BTC or gambling on a Litecoin casino is no different to playing with fiat currency.
Transfering crypto from wallet to wallet is a smoother and more straightforward way of sending payments than using an intermediary service like MiFinity or CoinsPaid. Although those kinds of services are excellent gateways or entry points, sending your money straight to the casino comes with benefits.
Why do people prefer them?
While everybody has their own personal reasons, the main four we often come across are:
Speed: With no third party to process the transaction, transfers between wallets happen quickly and without delays.
Cost effectiveness: Transferring crypto from one wallet to another does not incur any fees at all.
Ease of use: Sending crypto from one wallet to another requires just a few clicks and there is no need for sign-ups or account registration.
Privacy: Crypto transactions are anonymous by default, so users are not required to share their private information with any third party during the transfer process.
How do I do a wallet-to-wallet crypto transfer?
To send or receive cryptocurrencies, it is important to have a secure wallet. This can be a desktop wallet, mobile wallet or a web-based wallet. You also have the integrated wallets on sites like Binance and Coinbase. All you need to do is go to the pay section and enter the address of the casino wallet. Super simple, super easy.
Similarly, when you want to withdraw your winnings, simply enter your wallet address on to the casino site and send. Since there are no third parties to rely on, the transaction is either instant or as close as possible depending on how busy the blockchain is.
+ Direct transfers are speedier than using third-parties. With Bitcoin, you can use the Lightning Network to get blazing speeds.
+ They often have lower costs as there’s no middleman taking a cut.
+ You can utilize your existing crypto coins on the casino without the fuss of having to exchange to fiat.
+ Wallet-to-wallet transfers are the original intention and revolutionary goal of crypto currency and blockchain technology.
– You have to have crypto currencies in an existing digital wallet before depositing into the casino.
– Newcomers to crypto currencies might be put off if they aren’t aware of how easy it is to transfer between wallets.
– People need to be extra careful to put the exact destination address, as a single wrong digit can result in funds being lost.
How do I use crypto on a casino?
It’s no different to wagering dollars or euros on a casino. In the same way as you might put £10 on black, you just use a fraction of BTC instead.
Can I use fiat on a true crypto casino?
Sometimes the pure crypto casinos also have fiat options. However, if traditional casinos are more up your street, then you can take a look at our real money casinos, which are sites that don’t accept crypto payments at all.
Historical returns are no guarantee of future returns. All trading in financial instruments involves risk, including currency trading with crypto currencies or CFDs. Financial instruments can both rise and fall in value and it is not certain that you will get back invested capital.
Only invest capital that you are prepared to lose. Crypto currencies are extremely volatile, can involve high risk and is not for everyone, states Crypto Lists Ltd. CFDs are complex instruments that have a high risk of losing money due to leverage. Between 62-89% of all private investor accounts lose money when trading CFDs. You should consider if you understand how crypto currencies and/or CFD works and if you can afford to take the high risk of losing your money.
The information on this site is presented for educational purposes only and should not be construed as investment advice.