Cryptocurrencies are becoming increasingly popular in online casinos

It is typical and nice when an online casino offers multiple payment options. This allows each player to choose their preferred payment method. However, it always happens that certain payment options are canceled and others are added in their place. The latter applies to cryptocurrencies, the number of which has increased significantly in recent years.

Reasons for the growth of payments in cryptocurrency

In 2014, the first online casinos were equipped with the ability to place their own bets using cryptocurrency. Since then, various cryptocurrencies have become increasingly popular. This may also be due to the fact that many countries have banned the use of credit cards. These are Mallorca and the United Kingdom. The reason for the cancellation of credit cards in connection with online casinos is that they can lead to excessive debt. Credit cards are attractive because you spend more money than you actually have. By the way: on our additional page, you can find numerous good casino sites that also offer safe and secure payment methods!

To compensate for the loss of your credit card, many reputable online casinos offer the use of cryptocurrency in addition to other payment methods. Of course, there are many gambling providers that have already offered cryptocurrency before. But how does this payment method actually work? Cryptocurrencies are digital currencies that can also only be used for digital payments.

To pay with cryptocurrency, every transaction is encrypted. For this reason, payments using digital currency are considered secure. Some even believe that payments are anonymous. But this is not entirely correct. When the recipient and sender are known, payments can be tracked just like with any other currency. This means that cryptocurrencies cannot circumvent legal betting limits. But which online casinos are legal in Germany? By following the link, you can find out which providers take security very seriously and so do you

What cryptocurrencies are there?

The best-known cryptocurrency is Bitcoin. Other popular cryptocurrencies can be recognized by the sales volume generated by them. The start of cryptocurrency had almost no impact. If we use currency sales, the following currencies are particularly popular :

  • Ethereum
  • Binance Coin
  • Ripple
  • Tether
  • Cardano

Although these are the most popular cryptocurrencies, not all online casinos offer them. Therefore, anyone who wants to play with digital currency should find out in advance what options their favorite online casino offers and whether the cryptocurrency already used is available.

Numerous online casinos around the world offer cryptocurrency

SoftSwiss is a gambling software developer that first offered cryptocurrency payments in 2014. Over time, more and more online casinos decided to offer this new payment method. It so happened that 3000 casino games around the world can now be played using this payment method. The last three years are the period when currency sales have grown the most: according to SoftSwiss, the use of cryptocurrency has tripled since 2019. One thing is always the most important: online gambling should be reliable, no matter which currency is prevalent in the casino. With the help of our well-researched test reports, online casinos were able to find the best providers, including explicitly crypto casinos!

Although this payment method has become so popular, not all online casinos offer cryptocurrency gambling. Furthermore, not every country accepts the use of cryptocurrency. In Germany, the use of cryptocurrency is prohibited by the German State Gambling Treaty. This means that no online casino is allowed to offer this payment option if it gets a license for Germany. This means that German players cannot pay with Bitcoin and Co. because foreign Bitcoin online casinos are not licensed for Germany and playing with these providers is illegal.

In this regard, experts have an idea: there are so-called crypto casinos where that play exclusively on cryptocurrencies. After cryptocurrencies are not recognized as money in Germany, playing in these online casinos will be possible. The advantage of these online casinos is that they also offer live games which are not allowed in Germany.

best crypto casino

What is a crypto casino?

The term crypto casino is used for several casinos. On the one hand, there are casinos that offer payment using cryptocurrency in addition to other payment methods such as Neteller, Skill, bank transfer and credit card. However, these casinos play in regular currency, so winnings are calculated and paid out in local currency.

This is where the difference lies from other crypto casinos. They basically only work with cryptocurrency, as is the case with As a result, only the digital currencies offered can be deposited and the profits are also determined in cryptocurrency. This also means that the bonus is also offered in cryptocurrency format. Such casinos often offer other benefits such as an extensive VIP program or live roulette. This is another reason why these casinos are becoming increasingly popular.

Crypto casinos also inspire with a fast or simultaneous transfer, so that the bet is immediately available to play. At the same time, there are no fees, so the desired amount is really available to play with. Since they are not providers with a conventional license, there are no betting limits at these casinos. This is why more and more players are turning to gambling providers such as Stake Casino with cryptocurrency as the currency. This way you can bypass the legal betting limit.

Is it worth paying with cryptocurrency?

Cryptocurrencies are considered to be very safe. This is not only due to the double encryption during the payment process. Most currencies are listed on an exchange and payments in cryptocurrency are insured. However, the currency requires a digital account that works similarly to a securities account.

Another argument in favor of using cryptocurrencies is that this currency can already be used in every industry. In addition, currencies always benefit from a price increase, so there is profit. Of course, it behaves like a stock and the price can fall. It depends on various factors around the world and it is impossible to influence them. Despite all this, experts see almost no disadvantages. One advantage, for example, is that there is an exemption limit for the sale of cryptocurrencies that are not taxed. A good alternative to cryptocurrency casinos is the Skrill casino.

Related topic: So many capital banks around the world have invested in cryptocurrencies such as bitcoin

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