Picking a Cryptocurrency to Make Casino Deposits With

February 19, 2018 •

You are obviously visiting this website as you have an interest in gambling but you may also have an interest in cryptocurrencies, and as such you may be wondering with of the many cryptocurrencies would be the ideal one to use when funding a casino site account.

The first thing you will of course need to be aware of is that not all casino sites accept cryptocurrencies, so getting together a shortlist of sites that do will help you decide which one of them is worthy of your custom.

The most popular cryptocurrencies are of course Bitcoin, Ethereum and Litecoin, however I just checked and there are not, at the time of compiled this guide 1491 cryptocurrencies listed on the Coin Market Cap website, and many more that are not listed.

If I was you however I would tend to stick to the top three, for if nothing else they have a track record and their individual market capital is such that there are millions of people collectively using them all over the world.

The main problem with Bitcoin is that its unit price is expensive, and as you will no doubt be aware its volatility is such that you never know if any units of that digital currency are going to keep their value, decrease rapidly or suddenly sky rocket in value.

Therefore, for a tad more security in regards to the value of your cryptocurrencies that leaves you with both Litecoin and Ethereum which are nowhere as near as expensive to buy as Bitcoin.

If you do wish to use any of them then you will of course need to get a digital wallet initially a by doing so you can then buy any of them from a digital currency change and get your order send directly to your digital wallet.

However, I would also urge you to make use of one of the offline storage systems for storing cryptocurrencies as by doing so you will never be putting at risk any of your holdings, which could be compromised by hackers.

Do not think that you are going to be missing out on any bonuses or promotional offers if you do set about using a digital currency, for the actual cost to casino sites for processing such transactions are way, way lower than any other payment method, so casinos will always be happy to reward you with much more generous bonuses when you do use a cryptocurrency as a deposit option.

In fact, you are going to find many casino sites offer their customers instant cash outs if they have made a deposit using a digital currency and wish to get paid out their winnings back to the same digital wallet they deposited by.

One other thing to keep in mind is that your deposits made into a casino site using a digital currency will be made using your chosen one, but will be exchanged into your chosen fiat currency via the casinos banking interface.

As such you will be playing in a currency you are familiar with but can then receive your payout back in your chosen cryptocurrency, and the banking interface at your chosen casino sites will once again do the conversion for you automatically.