Cryptocurrencies are a new frontier in gambling. In the coming years, more and more online casinos will likely offer their customers the opportunity to wager their virtual money on games of chance enabled by these newfangled blockchain technology-driven currencies to use in crypto gambling
In this article, you will find out how to make crypto gambling work in your favor.
Jump-Start Your Crypto Funds
The greatest hurdle to overcome when making the switch from traditional fiat currencies to cryptocurrencies is not the technology, but rather the process of buying and storing these new tokens.
When making a deposit or withdrawal, most online casinos will require you to first own some of these newfangled crypto funds to make the exchange.
This is the equivalent of trading dollars for euros at an online casino — they want to be able to cash out your winnings in dollars as well, after all. If you do not own any euros, you cannot trade your dollars for euros to settle this debt.
Instead, you must wait for the next time the casino makes a cash withdrawal, at which point you can trade your dollars for euros and settle your debt.
There are two primary methods for jump-starting your crypto funds at an online casino. The first is to link your preferred crypto funds wallet with your online casino account. This ensures that when you make a deposit or withdrawal, the exchange is recorded instantly in the wallet’s linked account.
Some casinos go this one step further and provide you with a unique address or wallet ID that you can use for all your transactions, even if the casino does not support the funds linked to that address.
The second method is to first purchase some of the casino’s preferred currency and then trade it for your desired crypto funds at a specified rate. This second method is more time-intensive, but it ensures that you receive the best possible price for your chosen currency pair.
Choose The Right Games
The type of games you choose when playing at an online casino matter greatly, as does the amount you choose to wager.
When gambling in crypto, you will notice there are three primary game types you will encounter:
Roulette: A classic game of chance, roulette offers a high amount of volatility, meaning the amount you bet, the number you win, and the number you lose can vary greatly.
A classic game of chance, roulette offers a high amount of volatility, meaning the amount you bet, the number you win, and the number you lose can vary greatly.
Blackjack: A popular table game, blackjack offers an even higher house edge than roulette and is not a good choice for beginning crypto gambling
Video Poker: A relatively new game type, video poker offers gamers a chance to double or triple their money by choosing the right combination of cards. This game type has a house edge of just over 1%, making it a great choice for both beginners and experienced players.
