The global banking system has severally suffered financial shocks, including the 2008 crisis that nearly shuttered the US economy. While banks moved to redeem themselves, new cryptocurrency platforms were developed, and in came online crypto gaming sites.
First developed in 2009, cryptocurrency with Bitcoin as its focal point has seen significant growth in uptake and influence. Cryptocurrency refers to a digital currency or accounting system built from encrypted computer algorithms.
Online crypto casinos and other gaming sites have embraced cryptocurrency as a virtual payment system. It is independent of government, individual, or any other form of control and does not require third-party intervention during transactions.
Are crypto casinos legit?
Away from the more familiar online casinos, bookmakers like BC.GAME has developed crypto-only payment systems. This has prompted a degree of apprehension among punters over the genuineness of crypto-only gaming sites.
The uneasiness from users stems from the long-standing hesitation by the mainstream financial system to recognize it as real money. US Banks, for instance, have for years considered admitting cryptocurrency as a legitimate asset class.
While the painstaking regulatory and public approvals drag on, crypto casinos have opened their doors to ambitious punters. Legally licensed casinos have set up impressive gaming platforms that run like typical online casinos.
Online Crypto casinos’ high-reward systems
An analysis of online crypto casinos reveals a consistently high reward system for players that use these sites. The rewards are evaluated from winnings paid out by the bookmaker, as well as, bonuses and offers.
A spot-check on the promotions section is an excellent starting point to check for lucrative offers by a bookmaker. Alongside those on other crypto casinos, players on BC.GAME are eligible for astronomical bonuses. Bonus offers on online crypto gaming sites include; referral bonuses, deposit bonuses, giveaways, and free spins, among others.
For instance, referral bonuses on crypto casinos can go as high as 1,000 USD for referring just one person to a site, in addition to a 25% commission. Their welcome offers are also illustrious when compared to the same bonuses offered on non-crypto platforms. While online non-crypto bookmakers generally offer a rate of 200% on the deposit amount, crypto casinos go as high as 360%.
The best promotional offers, however, run on stipulated timelines. As is typical crypto casinos, you can walk away with an incredible amount of money from giveaways. The colossal prize amounts can be as high as 16,000 USD. The key to winning such prizes is vigilance. A user should regularly check the promotions section to be always in the know of giveaways.
How to play on Online Crypto casinos
The idea of playing on a crypto-only gaming site can be confusing for punters, particularly those not familiar with cryptocurrencies. These casinos, however, run just the normal online casinos. Most of the games, for example, are the same ones you play on any other platform.
In an online crypto casino like BC.GAME, you can play games like roulette, blackjack, and baccarat. These are games available on any other casino platform and the steps to play are also the same. This is the same for the live casino, which allows you to play in real-time sessions.
To play any game on an online crypto casino, you first need to create an account and login. Check your account and deposit money through any of the available cryptocurrency methods. Find your desired category of games, for example, casino or sports. Find the game you want either manually or by searching it on the search bar. Click on the game to play.
Creating a cryptocurrency wallet
A cryptocurrency account/wallet is a crucial requirement for playing casino games on crypto casino platforms. Setting up a cryptocurrency account allows you to perform transactions like deposits and withdrawals. Creating a cryptocurrency wallet is a very inviting exercise.
First, you need to choose the kind of cryptocurrency wallet you want. There are several examples you can choose from, including Nano X, Exodus, Mycelium, Coinbase, and Trezor Model T. In choosing your crypto wallet you should consider factors like ease of use and security.
Download the App of your choice from your gadget’s App store and then proceed to create an account. When creating the account enter the required details including personal information and passwords. From your newly created account, you can either buy or transfer cryptocurrency.
A number of crypto wallets allow you to initially buy cryptocurrencies using your credit card or bank account. Once you have a crypto balance you can transfer it to different accounts, including your BC.GAME account or any other account.
Self-custody versus hosted cryptocurrency wallets
One of the important decisions to make is whether to use a hosted or self-custody wallet. Hosted wallets are cryptocurrency wallets in which the account details are kept by a third party. Hosted wallets operate just like banks which keep track of the money flowing in and out of clients’ accounts. The advantage of having a hosted crypto wallet is that you cannot lose your crypto balance if you forget the password.
A self-custody cryptocurrency wallet on the other hand allows you total control of account particulars. You do not have a host or third party securing your account. Once you forget your password/private key, you potentially lose your crypto balance.
Online Crypto casino payment methods
As aforementioned, crypto casinos use cryptocurrency as the sole payment system. Note that once you create your crypto wallet, you can send and receive different crypto coins or currencies. Crypto casinos use different crypto coins including; Bitcoin, Ethereum, Dogecoin, Ripple, and Cardano, among others.
How to deposit and withdraw into Online Crypto casinos
You can easily and quickly access your account and deposit and withdraw winnings from your crypto casino. Firstly, login to your crypto casino account. Find the “My Wallet” option on your account before proceeding to deposit. Copy the wallet address or scan a QR Code if available in order to deposit.
Use the “Buy Crypto” option to deposit into your account through any of the supported crypto coins. Both deposits and withdrawals can be quickly processed from the “My Wallet” page in your account.
While regular casinos have cut out a niche by roping in online clientele, online crypto casinos have evidently taken online gaming levels higher. This is a noteworthy case of leveraging emerging technology to introduce more freedom and returns to the game.