Crypto casinos are on the rise, and you may be wondering why you should give them a try? Not too many years ago, the online casino industry got their first Bitcoin casinos. Since then, cryptocurrency gambling has only become increasingly popular. Crypto casinos brought many good things to the online casino market – instant withdrawals and a much greater transparency. Moreover, another valuable thing that crypto brought to the casino world is: anonymity.
Crypto-only and hybrid casinos
There are two main types of online casinos accepting cryptocurrencies. Firstly, you have pure crypto-only casinos, implementing instant transactions and provably fair games. Secondly, there are hybrid casinos, which are primarily standard casinos using conventional payment methods and normal RNG -powered results. As a result, we make a distinction between these two types of casinos. You can read more about this further down this page.
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Why crypto casinos gained popularity
Besides bringing greater anonymity, crypto casinos were able to compete with standard license casinos in many other areas as well. Whereas in standard online casinos, you had to wait for hours and even days to get deposits and withdrawals completed, crypto casinos were able to offer instant money withdrawals. This has lead to the push within the casino industry towards instant payments, a.k.a Pay n Play casinos (more commonly enabled by Trustly).
The most common cryptocurrencies at online casinos
Bitcoin is probably the best known cryptocurrency for most of us, there are however a few more. Casinos usually list what currencies they accept on their site (on our site we list casinos as a “Bitcoin casinos” only if they accept both deposits and withdrawals with mentioned currency). To summarize, the most common cryptocurrencies at online casinos are:
- Bitcoin
- Ethereum
- Litecoin
- Ripple
- dogecoin
- Bitcoin cash
The concept of “provably fair” gambling
Crypto gambling sites introduced us to a new and exciting functionality, namely “Provably fair”. Provably fair removes any doubts about the outcome of your gambling by offering a convenient way to check and verify any result in a game. Most importantly, you are able to verify that any outcome indeed is 100% random and correct.
The tool used in this process, consists of:
- a server seed (provided by the casino)
- user seed (provided by your browser)
- a nonce (a variable that increases by one so you can keep track of which hand is which by the end of the session)
The verification process happens on third-party platforms provided by the operator. Firstly, you enter the secret hash, secondly, the revealed secret hash and finally, the client seed. Subsequently, when clicking “verify”, you will be able to see all of your results and verify them.
NB! Some Crypto casinos may have initially launched as Provably fair casinos and later implemented standard RNG casino games by the biggest software developers. These casinos may still offer Provably fair gambling to some extent, through individual Provably fair operators.
Standard RNG casinos usually do not offer the Provably fair – functionality. As such, it is usually found at crypto casinos and certain crypto games. You should still look out for this option wherever you play, especially if you prefer gambling with cryptocurrencies and want to be able to verify game outcomes.
The most common cryptocurrencies at online casinos are: Bitcoin, Ethereum, Litecoin, Ripple, dogecoin and Bitcoin cash.
Crypto casinos are popular because they offer anonymity, instant money transfers and transparency.
Last edit on 19.01.2022