The online casino industry has been around for a long time and has really exploded in the last few years. There are so many different types of casinos to choose from, and it can be hard to know which ones are trustworthy and will actually pay you if you win. This article is going to go over what you need to look out for when deciding on an online crypto casino. You’ll want one that offers provably fair games, as well as fast withdrawals without too much hassle. If you follow these recommendations, I’m sure it won’t take long before we both have more money than we know what to do with!
Online casinos are becoming increasingly popular
An online crypto casino is an online cardroom or sportsbook that accepts cryptocurrency in place of paper currency. The cryptocurrencies used at crypto casinos typically include Bitcoin, Ethereum, Litecoin, and some other altcoins. While there are many crypto casinos out there, the cryptocurrency market is still young and sparsely regulated which means players should use caution when choosing a crypto casino to play at. This guide will go over some common red flags to look for while searching for an online crypto casino that can be trusted. Starting with how to know if a crypto casino actually has any money-back guarantee.
Gambling, in general, has always been looked down upon by several different societies throughout history due to its addicting characteristics which can cause people to make rash decisions that can have a negative impact on themselves and those around them. This gave rise to the need for crypto casinos as an alternative way for people to gamble so they wouldn’t have to go physically visit a casino or wait at home for one of their bets to come in.
Most crypto casinos offer players bonuses, so many crypto gamblers start off playing with free money as soon as they create an account. In order for crypto casinos to prevent money laundering, players are asked to send cryptocurrency from their own wallets instead of depositing it into the crypto casino’s wallets directly. It is important that players know who controls their private keys because anyone controlling those has control over how and when your funds will be spent (even if they don’t spend it).
If your crypto casino requires you to send cryptocurrency directly to their wallets, then you need to make sure that they aren’t withholding any of it and give you all the money back if you win.
Mistakes crypto gamblers often make
One mistake crypto gambler often make is choosing a crypto casino based on bonuses by entering contests or performing other tasks without doing research first. The crypto casino industry is unregulated and crypto casinos will often take advantage of this by withholding withdrawal requests or even disappearing completely with all their customers’ money. There’s nothing to protect crypto gamblers from crypto casinos taking their winnings or players withdrawing funds only for them to disappear; if you’re looking into playing at an online crypto casino, then learn how you can protect yourself from such scams (the next section shows you what questions to ask). The best way to protect yourself from such incidents is by not using untrusted crypto casinos in the first place and sticking only to ones that have safety features built-in.
There are crypto casinos that don’t need you to deposit funds into their wallets, instead choosing to use a third-party bitcoin casino platform. These platforms charge crypto casinos fees for allowing them to be used on their site and crypto gamblers can enjoy a lower house edge compared to crypto casinos who manage the platform themselves since crypto casinos using 3rd party platforms get more wagers per unit of cryptocurrency. Theoretically speaking, crypto casinos using 3rd party platforms should offer players better odds because they can earn back the fee charged by the platform plus additional profit which is not possible in an in-house solution and this means they should offer even bigger bonuses than in-house crypto casinos. Players looking for a higher house edge crypto casino should check out crypto casinos like Trust Dice; crypto casinos that use 3rd party platforms for crypto gambling are usually the best choice but their operators need to be verified in order to ensure that they will not run away with players’ money or defer withdrawals at any time while withholding winnings.
The most important question you have to ask yourself is if your crypto casino of choice can actually afford to pay back all their players 100% of the time no matter what happens? If you don’t receive a straight answer right away, then go on and try finding another one because nothing is more important than being able to trust an online crypto casino’s honesty.