More people than ever are turning their backs on traditional online payment methods and fiat currencies in favour of blockchain technology and cryptocurrency payments.
If you want to place sports bets or play some of the iGaming industry’s most popular online casino games but use cryptocurrency instead of Canadian dollars, for example, you’ve come to the right place.
Here are five essential tips for using cryptocurrency on today’s safest online sports betting and casino sites.
How to find a safe crypto-accepting online gambling site in 2024
The first thing you need to do is look for a fully licensed and regulated crypto-accepting iGaming site. One of the most reliable iGaming review websites that always has the most up-to-date list of crypto gambling platforms is the official CryptoManiaks website.
Their dedicated team of researchers have carefully handpicked hundreds of legally permitted sites, all of which are controlled by reputable operators.
Each site has been expertly reviewed using the same tried and tested vetting process, website analysis, extensive investigations, and thorough background checks.
They are free to join and accept several cryptocurrencies, such as Bitcoin, Ethereum, DogeCoin, Litecoin, Tether, Bitcoin Cash, Ripple, and others. When you deposit on any of these sites for the first time, you will automatically qualify for a guaranteed sign-up bonus.
Five tips for using crypto at iGaming sites
If you decide to invest in cryptocurrency and then use this perfectly secure online payment method at the virtual checkout of any sites that you join, here are five useful tips to remember:
- Before depositing any cryptocurrency into your new account, start by setting a reasonable spending budget
- Try to use a stable cryptocurrency that’s currently performing well on the global market to reduce/avoid volatility
- Always double-check that the amount you wish to deposit [and all other required payment details] are correct before confirming the transaction
- When claiming a crypto casino welcome bonus upon depositing, ALWAYS take a minute to read through the Ts and Cs (terms and conditions) attached to that bonus to ensure you get the most out of it. Remember to pay close attention to the part about wagering requirements (which are sometimes called rollover, turnover or playthrough requirements)
- If you join a crypto casino and it provides you with safer gambling control tools, use them to help ensure you remain within your budget
Not all online casinos accept crypto, so always check in the cashier/banking section before signing up anywhere. You don’t want to register a new account only to discover that your preferred crypto coin isn’t accepted.
Final thoughts
The other thing to remember about crypto-accepting iGaming sites is that some operators will always enforce the Know Your Customer (KYC) ID verification process, whereas others don’t.
If you don’t want to complete this process, which requires sending in proof of ID (e.g., a scanned colour copy of your National ID, passport or driver’s license) and a recent proof of address (e.g., a scanned colour copy of your bank statement, energy bill, or mobile phone bill) because you find the KYC process too intrusive, then remember to look for no KYC casinos (aka anonymous gambling sites) when searching through the top-rated sites currently featured on CryptoManiaks.
