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Best Crypto Casinos Online

Crypto casinos are becoming more and more popular; offering instant transactions and anonymity.

Today, many mainstream online casinos are opening up to crypto gambling, accepting major altcoins such as Bitcoin, Litecoin, and Ethereum. Plus you’ll find some massive welcome bonus offers for crypto casino players.

Here we investigate the best crypto casinos online!

Advertiser Disclosure: We do not receive payment in exchange for publishing reviews. We may earn a commission if you choose to play at a site we recommend, at zero cost to you. We’re just keeping it real.

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How do we choose the best crypto casinos?

We’ve compiled a list of our most recommended online crypto casinos. Our aim is to help guide you to the safest, most secure crypto gambling destination. Whilst reviewing our favorite crypto casinos we inspected the following key aspects:

SAFETY & SECURITY

Online security has never been more important. Protecting your personal information and monetary transactions should be the highest priority of any online casino. We rate casinos that are licensed and regulated, and use encryption software to protect your personal data.

BITCOIN CASINO BANKING

This is an obvious one but we’re looking for the best online casinos that offer BTC or BCH crypto currency as a deposit and withdrawal method with no fees.  Bitcoin as the most popular and original crypto coin is available to use at all our recommended crypto casinos. 

CRYPTO GAMBLING SOFTWARE

We are looking for top quality software providers ideally with a great range of video slots, blackjack and roulette. Extra points if it offers a live dealer casino. This means you can play live baccarat, live blackjack and live roulette and chat to the dealers and other players. 

BITCOIN BONUSES & PROMOTIONS

Online casinos WANT you to play with crypto currency! You’ll see massive welcome bonuses being offered to bitcoin users. Often there’s extra bonuses for referring a friend who deposits using crypto too. We also remind you to always read the terms and conditions before you claim a bonus.

Choosing the Best Online Crypto Casino: 7 Key Considerations

With so many options in crypto casinos today, how do we know which is the best? Crypto casinos differ from traditional online casinos on several aspects. This is why players need to be cautious while choosing one. An ideal approach would be to consider their key features and make an informed choice.

One of the major reasons why online gamblers like crypto casinos is fewer limits on players. They don’t have lots of rules and regulations. This corresponds to the very nature of cryptocurrencies, as they were created for more privacy and reduced bureaucratic obligations.

According to Investopedia, an American cryptographer named David Chaum was the first to create a cryptographic electronic money. He founded his electronic money corporation called DigiCash in 1989 and came up with ‘eCash’. Although his corporation went bankrupt in 1998, its ideas, formulas, and encryption tools laid the foundation for future cryptocurrencies.

In the years that followed, many different cryptocurrencies were created. However, all of them ended in failure. Eventually, Bitcoin was invented in 2008 and became the oldest surviving cryptocurrency.

The emergence of crypto casinos

Soon after Bitcoin became an established cryptocurrency, the online crypto casinos began springing up on the World Wide Web. Players who were in possession of cryptocurrency started gambling on these sites. The number of crypto casinos has been on the rise ever since. They allow you to deposit cryptocurrency in your casino account and withdraw your amount using the same currency.

Not all traditional online casinos would allow deposits and withdrawals using cryptocurrencies. It is quite apparent, therefore, that players using cryptocurrency are experiencing the benefits of crypto casinos. One excellent feature that they offer is faster transactions compared to the ones involving fiat currencies, such as the US dollar and Euro.

How crypto casinos work

If you’re just getting started with crypto casinos, you might presume they’re complicated. Understanding how they work won’t be as difficult as you might imagine. Most of the online crypto casinos operate the same way as their traditional counterparts.

The only major factor that sets them apart is the process of cashing out cryptos. Crypto casinos provide the players with a wallet they can use for transferring their cryptocurrency. They accept wagers from this wallet. Players generally use their wallets to deposit an initial amount. Then, based on their success or failure in the game, they might either lose the amount or gain a certain sum.

Today, it’s not uncommon to come across crypto casinos offering players the chance to win ‘crypto jackpots’. In some of the Bitcoin casinos, there are jackpots up to 500 BTC to be won. Upon winning the game, you’ll get the amount in your crypto casino’s wallet. It is from here that you initiate a transfer to your private wallet.

The casino might have certain withdrawal limits to prevent players from withdrawing the entire amount at once. It is essential that you go through the terms and conditions of the casino. This will give you an overall understanding of the whole process.

Key considerations for choosing the best online crypto casino

Players of online crypto casinos benefit from super-fast transactions and greater anonymity. If you’re new to these online casinos, you must take some time and effort to learn more about the most popular ones. Assess the variety of options that they offer. You can then make a choice based on a careful assessment of all the important features.

It is important to remember that one wrong move can have a great impact on your overall experience with the casino. You might even end up losing a significant sum. Here are a few things you must consider while choosing the best online crypto casino:

1. User-friendliness

One of the many ways to assess the ease of use offered by an online casino is to test its device compatibility. It must allow you to access your account from anywhere using a smartphone, tablet, or desktop. The casino must be user-friendly and have a great deal of information to keep you updated.

2. Diversity in cryptocurrencies

Crypto casinos usually offer a variety of options in cryptocurrencies to keep pace with the ever-changing digital economy. You must, therefore, go with a casino that allows multiple cryptocurrencies for deposits and withdrawals. Playing in such an online crypto casino will allow you to make the best use of the blockchain ecosystem.

It is also necessary to check if the payment methods allow you to deposit and withdraw funds using different cryptocurrencies.

3. Reviews

By going through the reviews of popular online crypto casinos on trusted casino review sites, you’ll get to know how reliable they can be. You must not depend on one single review to form an opinion about the casinos. Rather, read as many reviews as possible and pay attention to the ratings.

Understand how the experiences of the casinos’ users have been. You must also consider what the experts have to say about the casinos and their features.

4. Authorization

See if the crypto casino you’ve chosen is authorized by a leading official institution. A casino verified by the appropriate authorities are mostly reliable and won’t scam you. You can also be assured of the safety of your crypto funds with such casinos.

5. Provably fair gaming

Provably Fair Technology is one important aspect that you must consider before choosing a crypto casino. If the site guarantees Provably Fair gaming, you’ll be protected from all kinds of frauds and manipulations. Provably Fair Technology involves complex mechanisms where every single result of the game is monitored in real-time.

This technology incorporates Random Number Generators (RNGs), hashing, and Seed Generators. Provably fair gaming assures 100 percent transparency, higher RTP, and better game quality.

6. Variety in games

Some of the websites are inclined more towards sports betting. Others have diverse offerings, such as slots and table games. It is up to you to decide the number of games you’d like to play in an online crypto casino. You must also make sure that the site has all the games mentioned in the categories.

7. Customer support

It’s possible that you might encounter some obstacles on certain occasions in the future while playing. It is, therefore, important that the online crypto casino you’ve chosen has a reliable 24/7 customer support. Check if the site has a live chat feature. You must also test the time they take to respond to your query.

Crypto Casinos in the US

Today, pretty much everyone can trade in cryptocurrency. The online casino and gambling industry has been seen as an early adopter for accepting major crypto currencies. More and more casinos are promoting crypto gambling and incentivising deposits with special high value bonus offers.

The rise of cryptocurrencies has extended into the world of online gambling driven largely by the anonymity of transactions. The anonymity and decentralization of such gaming platforms drew a growing number of customers from all around the world. We believe this movement is also a reaction to global governments increasingly tight restrictions on gambling. With the rise of more checks and limits on how much you can play, more players have opted for international crypto casinos. This way their transactions are anonymous and they are free to play uninhibited.

Furthermore, ethereum casinos have grown quite popular among gamers all around the world, particularly in Asian nations where casinos are generally forbidden. In Japan, for example, municipal authorities have no authority over ETH. As a result, when it comes to online gambling, Japanese gamblers prefer to use ETH as a payment option.

Bitcoin is the most widely used currency in the gaming industry.

Why Do Players Prefer Cryptocurrency Casinos?

As we can see, blockchain’s properties make cryptocurrencies an excellent way to process payments while playing casino games. This is for the following reasons;

Privacy playing at crypto casinos

You don’t have to be concerned about your privacy while you gamble. Players can remain anonymous at online casinos that use cryptocurrency. If you are accessing the casino from a country that does not permit gambling, your bank will not be able to see what transactions your are making.

Security

Blockchain technology ensures the security of online casinos. All game transactions are logged and given unique codes that are almost impossible to change. However fraudulent attempts to access your digital funds, as in other financial fields, are a hazard.

Instant Transactions

Transactions in cryptocurrency are instantaneous. When players deposit Virtual currency into a casino wallet, they do not need to wait for the transaction to be approved by a banking institution or firm. Users have complete control over their funds. Players make a deposit, the network validates it in real time, and online gambling companies discover in a flash whether the transaction was successful or not.

Warnings and risks of Crypto Gambling

If you are using cryptocurrency you will already be more than aware of how much the value of the currency can fluctuate.  There is a real risk of losing your money.

This being the case, the amount you deposit in the morning might be worth significantly more or less a few days later when you come to withdraw your winnings.

Whilst typically crypto withdrawals are quick, some casinos process them manually for security purposes, which can take a while longer. If you see an unmissable opportunity to trade during this period, you might become frustrated.

You are not protected by the bank. So if there’s a problem and the casino doesn’t credit your account you do not have the option to charge back or reverse the transaction.

You must make well-informed selections if you want to succeed in the virtual money sector. These well-informed decisions are based on estimates established from historical market patterns and trends. But also you need luck! Financial advisors recommend that your investment portfolio is mixed so you do not rely 100% on crypto. And please remember casino gambling is entertainment, not an investment.

The Most Popular Cryptocurrencies: An Overview

It is not uncommon anymore to hear the word ‘cryptocurrency’ crop up in daily conversations. This technology-based, decentralized digital currency is now used as a popular alternative for making online payments. However, before you think of buying and using crypto for digital payments, it is essential that you are familiar with the most popular ones.

Cryptocurrency or ‘crypto’ is created using encryption technologies. For using this form of currency, you require a cryptocurrency wallet. It is either stored on your smartphone, tablet, or computer or you can access it through a cloud-based service that stores it. Before you invest in a cryptocurrency, make sure you know it well and understand how it works. It is also important to use a trusted wallet.

This form of digital currency works as a medium of exchange just like the dollar or euro. Despite this, there are certain differences. Cryptos are not controlled by any central authority, such as a bank or government. They don’t rely on the traditional intermediaries to verify that the transacting parties possess the stated amount of money.

The ownership records of cryptocurrencies are stored in a computerized database called a digital ledger. It uses an extremely strong cryptography to ensure security of the transaction records. This digital ledger verifies the transfer of crypto ownership and also controls the creation of more coins.

When used within a decentralized framework, each cryptocurrency works through a blockchain. This is a distributed ledger technology, which acts as a public financial transaction database for cryptos. As of 2022, there are thousands of different cryptocurrencies in the market. Over 70 of them have a market capitalization of more than a billion dollars.

Here we’ll take a look at the most popular cryptocurrencies that people use for making payments in online casinos:

1. Bitcoin (BTC)

Whenever someone mentions cryptocurrency, the very name that would pop up in your mind is Bitcoin. Today, its popularity has shot up to astonishing levels, just like its price. On March 1, 2022, a single Bitcoin was worth more than $44,000. Currently, it has a market cap of over $846 billion.

Satoshi Nakamoto is the pseudonym for the individual or a group of people who developed the concept of cryptocurrency along with Bitcoin. Nakamoto was actively involved in the process of creating and developing Bitcoin and blockchain until 2010.

Over the years, many people have claimed to be Nakamoto. However, the identity of the individual or group operating under this pseudonym has never been revealed or verified. If the rumors are to be believed, Nakamoto must be worth billions today.

The most attractive aspect of this globally renowned cryptocurrency is that it still possesses a high-return potential. In just a couple of years, the value of Bitcoin has grown over 200%. Another major benefit of Bitcoin is that it takes only a few minutes to transfer this crypto to another user.

The number of places accepting this cryptocurrency has grown considerably. This makes it easier for those holding bitcoins to purchase goods or services in another country. It can also be exchanged easily for other currencies with little or no fees involved.

Bitcoins can also be sold at any given moment without any hassles in recent times. The users of this crypto can have multiple public keys and are identified by numerical codes. This protects them from public tracking and tracing transactions back to them.

Despite all the benefits, there are certain concerns raised with regards to its volatility. Its scarcity has been one of the main reasons for its high value, but this can change in the future. Besides, hackers are constantly trying to breach the security cover to lay their hands on as many bitcoins as possible.

2. Litecoin (LTC)

Considered as the second oldest cryptocurrency, Litecoin doesn’t often grab the headlines like Bitcoin. However, it is still among the most famous cryptocurrencies. It was originally created to bring about certain improvements in the perceived shortcomings of its predecessor. These shortcomings were associated mostly with speed of processing transactions and monopolies in mining.

Over the years, Bitcoin has evolved into an attractive option for investment, while Litecoin is preferably used more in everyday transactions. Litecoin was created by Charlie Lee, who had worked as an engineer in Google. In a way, this crypto can be described as a spinoff of Bitcoin, engineered for fast, low-cost, and secure payments.

The cryptocurrency has many features that are similar to Bitcoin and some notable differences as well. Litecoin has a faster processing speed and has its maximum supply capped at 84 million coins. Although its market cap is less than that that of Bitcoin, it’s still more than 3 million dollars. This makes it possible to purchase smaller portions of this cryptocurrency and in any increment.

Another major advantage of Litecoin is that it has stood its ground over the years and proved to be a reliable investment. It has also provided some attractive returns to its investors in the past. Despite these advantages, Litecoin has also raised certain concerns, such as the recent unfavorable sentiment towards it.

Charles Lee sold a massive amount of the crypto in 2017, citing a conflict of interest. This caught the attention of many and resulted in a loss of investor confidence. Later, as the speed of Bitcoin transactions increased, Litecoin lost its charm of having a faster payment network.

Today, there are several new cryptocurrencies with faster transaction processing speeds, such as XRP and Cardano. Regardless of these concerns, the crypto has a good staying value and flexibility. This makes it an excellent choice for the portfolio of a seasoned cryptocurrency investor.

3. Ether (ETH)

Many people often get confused between the terms Ethereum and Ether. Although these two terms pop up in crypto-related news, it would be unfair to consider Ethereum as Bitcoin’s direct competitor. Ethereum is a decentralized blockchain network, while Ether is its native cryptocurrency.

With a market capitalization of more than 160 billion dollars, it is placed right after Bitcoin in the list of world’s top cryptocurrencies. Ether enables its users to make online transactions, trade cryptocurrencies, earn interest on their holdings, play games, and store non-fungible tokens (NFTs).

Vitalik Buterin, a programmer, published a whitepaper on Ethereum in 2013. He founded the project along with Charles Hoskinson, Gavin Wood, Joseph Lubin, and Anthony Di lorio. The work on developing decentralized applications began soon after and Ethereum 1.0 was created as a result.

Just like Bitcoin, the Ethereum network doesn’t have a centralized server. It rather exists on thousands of computers spread across different locations worldwide. This makes it highly immune to attacks. So, if one computer goes down, thousands of other computers keep the network going. This decentralized system runs an Ethereum Virtual Machine, and each node holds its copy.

The team behind Ethereum, especially Vitalik Buterin, has many admirers among the crypto community. People trust Ethereum owing to a greater transparency in its roadmap. It is also much more secure when compared to many other cryptos. Today, ETH is one of the most popular cryptocurrency and continues to attract many businesses.

Ether is not capped and its transactions can be done faster with self-executing contracts. This can also be a disadvantage if this crypto reaches an unlimited amount as its value might go down. Besides, the Ethereum network has had issues of congestion. This has pushed its transaction fees to even greater levels.  Depending on the way you measure the pros and cons, Ether can be worth considering for investment.

4. Dogecoin (DOGE)

Dogecoin can be described as a satirical cryptocurrency. Its logo has the image of a Shiba Inu dog, which is a Japanese breed. Although it began as a whim, this crypto gained a considerable number of followers rather quickly. It was created by Jackson Palmer, a product manager at Adobe Inc.’s Sydney office.

He wanted to satirize the hype that surrounded cryptocurrency at the time. Palmer bought the domain dogecoin.com after much interest and positive feedback from social media. Later, Billy Markus teamed with Palmer to build the software for the cryptocurrency. Before developing this cryptocurrency, he worked at IBM as a software developer.

In 2013, Palmer and Markus launched Dogecoin. Almost a couple of weeks later, its value went up by 300 percent. Dogecoin came to be considered as a consumer-friendly version of Bitcoin. Both the founders left the project after a year, handing it over to some highly competent core developers.

In 2021, the Dogecoin Foundation’s re-establishment was announced with notable advisors on board, such as Vitalik Buterin and Jared Birchall. In the same year, Elon Musk openly supported this cryptocurrency in his tweet. He mentioned that he was working with its developers to improve the efficiency of transactions.

Dogecoin also received support from AMC Entertainment Holdings, Inc., in October 2021. The company announced that it would accept the crypto for the purchases of digital gift card. This cryptocurrency reached a market cap of over $8 billion in August 2022. It has a growing community of supporters and holders.

Dogecoin has many similarities with Bitcoin and can be transacted and traded on decentralized exchanges. One of its biggest disadvantages is lack of a supply cap. The fun nature of this crypto comes in the way of its adoption and integration as a digital asset. Additionally, it has a poor technical support despite having a vibrant community of users.

5. Tether (USDT)

Owned by a Hong Kong-registered company known as iFinex, Tether was the third-largest cryptocurrency in May 2022. It is among the fast-growing breeds of cryptos called stablecoins. The value of these cryptocurrencies is tied to that of another currency, financial instrument, or commodity. In 2022, Tether crossed the market cap of $60 billion, making it an alternative to the highly volatile popular cryptos.

In 2012, J.R. Willet described the possibility of creating new cryptocurrencies on top of the blockchain of Bitcoin when he published his whitepaper. He then went on to implement this in Mastercoin, which was promoted by the Mastercoin Foundation. RealCoin, a precursor to Tether, was launched in July 2014. In November 2014, it was re-branded as Tether.

This cryptocurrency is pegged to the US dollar and is entirely backed by the reserves of Tether. It has managed to trade at around $1 per unit, rarely rising above or dropping below this mark. This is why it is known for greater stability and reliability. Tether is available on all the major crypto exchanges, making it easier to buy or sell the cryptocurrency. It is also one of the older cryptocurrencies.

Despite being a trusted cryptocurrency among the crypto community, concerns are often raised against it. Many individuals are of the opinion that it has not been transparent with regards to its inner workings. There are people who have leveled accusations against it, saying that it has been used for money laundering and criminal activities.

Tether certainly has some challenges and it needs to overcome them to gain wider acceptance. If it fails or shuts down for some reason, all the Tether (USDT) units will become worthless. This is a risk that buyers of Tether need to be aware of. However, it also true that crypto investments will always involve certain risks.

6. Bitcoin Cash (BCH)

A Bitcoin hard fork in August 2017 resulted in the creation of Bitcoin Cash. Hard fork is a term that refers to radical change in a network’s protocol, which is initiated by the members or developers of a crypto community. They usually do it out of dissatisfaction with the existing blockchain’s functionalities. This cryptocurrency allows more number of transactions in a single block as compared to Bitcoin.

Bitcoin Cash is maintained by a community of developers who are very active and see this crypto as an essential alternative to Bitcoin. According to them, the latter has become more of a means of investment than a system of making payments. This is why Bitcoin Cash was designed to remove regulatory authorities and several other third parties who came in the way of financial transactions.

The focus of this cryptocurrency in the shorter term has been on providing a fast, low-fee, and reliable network. Bitcoin Cash has also been focused on the establishment of a professional mining node, which delivers measurable improvements and listens to feedback. Despite this, the cryptocurrency has experienced volatility. It has not been widely adopted owing to this reason.

It also went through a fork in November 2018 and split into two. As a result, Bitcoin Satoshi Vision (BSV) and Bitcoin Cash ABC (BCHA) were created. Bitcoin Cash ABC  was renamed to eCash three years later. Bitcoin Cash has a market cap of over $2 billion. The market cap of Bitcoin Satoshi Vision is slightly less than $1 billion.

As the nodes of Bitcoin Cash are spread across different corners of the world, it offers greater security. Its potential of high scalability also makes it attractive for future adoption. This crypto is easy to acquire and has low transaction fees and validation times. However, it has lower liquidity than Bitcoin. It still hasn’t been able to gain much investor confidence as well.

7. Binance Cash (BNBCH)

Binance Cash or BNB Cash is a token that has been built on the Binance Smart Chain. This crypto was developed for replacing BNB for exchanges that didn’t have its presence. The utility behind BNB Cash is promising and boosts its real-world integration. The Binance Smart Chain is secure, fast, and is low in transaction fees.

BNB Cash was developed by BNB Fintech in April 2021 with the Binance Smart Chain. It is considered to be the best blockchain after Ethereum. However, there are several traders who don’t possess BNB sets. The blockchain focuses on the P2P Crypto Marketplace, which will enable crypto users to trade their cryptocurrencies directly with each other without any middlemen involved.

This also facilitates total decentralization, making BNB Cash quite a unique project. Early users have also benefited from the referral program, which was intended to attract new users. It also has provisions that allow the integration of Debit Card. This will allow its users to exchange the crypto with several local currencies.

BNB Cash mobile wallets enable storage of digital currencies while supporting all the features of the crypto. To increase the flow of transactions, merchants are offered a reliable, all-in-one crypto payment solution within the POS. This allows them to make transactions with the POS system.

BNB Cash tokens power the entire ecosystem of this crypto. A major downside of BNB Cash is that there’s a lot less information about it for the public. Whatever is known about this cryptocurrency comes from the initial information that was made available before and for a brief period after its launch.

Shortly after its launch, it had reached a market cap of $3 million, but its current market capitalization is unknown. The possibilities of its growth do exist and it greatly depends on its demand in the future.

8. Binance Coin (BNB)

Binance Coin is the native cryptocurrency of Binance, a platform that facilitates crypto trading. According to the stats issued in January 2022, over 1.4 million transactions take place on the platform every second. In its early days, Binance Coin used to operate on the Ethereum blockchain. From the beginning of April to mid-January 2022, it doubled in value. In the same year, it reached a market capitalization of over $47 billion.

This cryptocurrency was created in July 2017 by Changpeng Zhao, the founder and CEO of Binance. In the same year, Binance Coin started off with $0.50, which was quite a low prices. It reached the value of over $25 within 67 days. On June 22, 2019, the value reached $39.59, which was the year’s highest for Binance Coin.

It might surprise you that Binance spends a significant amount every quarter to purchase a large quantity of Binance Coins and eliminate them. This is called ‘BNB Burning’. Binance has continued to perform such burns since 2017. It will continue doing these burns until it has destroyed 100 million units of the crypto. This is done to decrease the supply of Binance Coin. 

This practice is aimed towards making Binance Coins rare and thus increase its value. The crypto exchange also has its ‘BNB Pioneer Burn Program’. It identifies the instances in which the holders of this cryptocurrency lost their BNBs irrecoverably. Binance deducts the amount from its next BNB burn and repays these holders.

Because of the rapid progress of the exchange, Binance Coin has great potential. The quarterly BNB burns also play a major role in increasing the crypto’s value. This cryptocurrency also has its downsides. One is its total dependence on the Binance Exchange. Another possible disadvantage is that China’s regulatory bodies can influence Binance Coin’s performance in the future.

9. Tron (TRX)

Marketed primarily in Asia during its initial days, Tron has now gone global. This decentralized, blockchain-based digital platform has its own currency called Tronix, which is abbreviated as TRX. To facilitate cost-effective sharing of digital content, Tron aims to host a worldwide entertainment system. In August 2021, this platform had over 50 million accounts.

Tron was founded in 2017 by the Chinese cryptocurrency entrepreneur, Justin Sun. After retiring from his position as the CEO of Tron, he became a diplomat for Grenada. Tron has offices in San Francisco and Singapore. This crypto now has a market cap of over $5 billion. There are no transaction fees for this crypto, which is quite remarkable. Besides, the network has the ability to support 2,000 transactions per second.

The network structure of Tron is often compared to that of the Ethereum platform. It uses decentralized applications, smart contracts, and tokens. Some have also criticized it for borrowing the basics of its platform rather than building them. There are hints of Tronix and Ethereum becoming competitors to serve the business of cryptocurrency traders.

Tron is considered a legit and popular option for users who want to create and monetize content without the involvement of intermediaries. It is also a great option for investors. However, there are downsides of the crypto as well. Tron is not fully centralized and still in its initial stages of development. Only 50 percent of all Tron tokens are stored in different locations. For private investment, only a small percentage of tokens issued is available.

The purpose behind the creation of Tron was to eliminate the corporate middleman coming in the way of media consumption. Many different areas are covered by this crypto including streaming sites, social networks, and others. The success of this cryptocurrency will depend somewhat on the quality of programming that it will provide for its users.

10. Cardano (ADA)

Cardano is a decentralized blockchain with its native currency, ADA, named after Augusta Ada King. The Countess of Lovelace is widely regarded as the world’s first computer programmer. ADA is used today to store value, to stake and pay transaction fees on the network, and to send and receive payments. Cardano aims to be a flexible, scalable, and sustainable platform for running smart contracts.

Charles Hoskinson, who co-founded Ethereum, left the project after a dispute with Vitalik Buterin, who is one of its co-founders. Later, Hoskinson co-founded a blockchain engineering company, IOHK. He worked on the development of Cardano in 2015 and launched the platform two years later. In recent times, the platform is seen as an alternative to Ethereum.

One of the goals of this blockchain platform is to provide banking services to the world’s population that doesn’t use banks or banking institutions. It also aims to be a blockchain platform that’s robust, secure, and highly energy-efficient. ADA, the native crypto of the Cardano blockchain, can be purchased or sold through the popular crypto exchanges.

This cryptocurrency has been greatly praised by the academics who have and submitted their reviews and proposals to improve it. Cardano allows updates on the system to be performed without interfering with the transactions and payments. With a market cap of more than $13 billion, it is among the biggest cryptocurrencies with regards to market capitalization.

The biggest downside of the crypto is that it has been slow in its development. This has made it extremely difficult for the cryptocurrency to keep up with its competitors. The developers of the crypto want to implement a voting system to propose upgrades, but token holders might not be that tech-savvy.

The algorithms of Cardano also face synchronization issues between ledgers. Charles Hoskinson, who created this blockchain is a controversial character, which often affects the crypto’s reputation.

A Brief history of Bitcoin

By now it’s unlikely that you haven’t heard of bitcoin. Bitcoin has hit the headlines many times with the value being extremely volatile. You probably also wished that you had bought them back in 2009 so that now you would be a multi-millionaire (that is my biggest regret anyway!). If you’re reading this and you were one of the canny ones, well played! 

Perhaps you’re wondering how crypto has earned its place as a popular exchange currency? Let’s take a quick look at how Bitcoin became such as major feature in the financial landscape.

Bitcoin’s origin story

In 2008, the mysterious Satoshi Nakamoto published a paper called “Bitcoin – A Peer To Peer Electronic Cash System” in an online forum. In 2009, mining for bitcoin began, and the number sequences were recorded in blockchain.

Blockchain is effectively a unique, digital signature. It is a public ledger of all transactions, open to everyone to view thus making it transparent and trustworthy.

A new digital financial revolution had begun.

New crypto currencies

The currency had made it’s foray into real world and by 2011 other cryptocurrencies were being established including well known crypto currency Litecoin. 

In 2013 bitcoin made headlines when the value of the currency crashed from $220 down to $70, but by the end of the year it rocketed up to $1075.

During 2014 Bitcoin suffered a huge scandal. A major bitcoin exchange platform, Mt. Gox went offline and 850,000 bitcoins went missing (although some have since been recovered) putting security and fraud aspects under scrutiny.

Future of Bitcoin

Bitcoin’s value dropped to $5,000 in March 2020 in the midst of the Covid 19 pandemic. Since people were locked down at home many more decided to invest in crypto. This pushed the price up to $60,000! As of July 2022 the price is hovering around 21k. Today there are literally thousands of crypto currencies in the market and investors are hoping to back the next big thing that could explode in value like Bitcoin.  Early adopters of bitcoin have since been made millionaires and many people trading in forex are hoping to buy up a young currency whilst the value is low and see potential gains as it gets more traction within financial institutions.

Most expensive pizza

In 2010 the first bitcoin transaction occurred. 10,000 bitcoins was exchanged for 2 pizzas. At that time there was no monetary value to compare bitcoin to. So perhaps 10,000 seems a reasonable exchange for a brand new digital currency. Fast foward 10 years and 10,000 bitcoins were worth $97 million.  

Let’s just let that sink in for a minute… 

NINETY SEVEN MILLION DOLLARS FOR TWO PIZZAS. 

Blockchain finds new applications

These peaks and troughs continued. By early 2015 Bitcoin was worth $315.   Bitcoin found itself with new competitors as new innovations were developed beyond Bitcoin’s capabilities.

In 2016 Etherum makes a splash in the market, introducing “smart contracts” which basically allow financial instruments such as loans or bonds to be recorded in blockchain. But the Bitcoin value kept on growing and in 2017 the value was consistently around the $1000 mark. Between October and November 2017 Bitcoin’s value exploded over several months hitting $5,000 then doubling to $10,000. It peaked at over $20,000 for a single bitcoin in December 2019.  (Remember those 10,000 bitcoin pizzas?!)

Can I join in and buy bitcoin?

It’s not too late to get on the bandwagon! Whilst you may never see those millionaire making developments again, there are thousands of currencies including Dash, Ripple and Monero which may all see mainstream adoption. XRP is already being used by financial institutions for bank transfers.

Online casino’s adoption of crypto is just one example, and there is a great range of casinos offering Bitcoin gambling. Over time you are likely to see more and more mainstream industries adopting its use.

What is blockchain?

For many years, blockchain technology has been a part of the daily operations of many successful modern industries. The game industry is already being turned upside down by blockchain, and this trend is anticipated to continue as more fans discover the unique capabilities that this new technology offers. Today’s top currencies for online gambling are bitcoin (BTC) and ethereum (ETH), which are commonly used for deposits and withdrawals at online casinos.

Crypto is already popular in the world of digital gaming where revenue is generated through in-app purchases, advertisements, and partnership or referral advertising. Individuals can make purchases like they would with money and create customisation in-game through in-app payments. Incentivized advertisements are common whereby players are compensated in bitcoin for doing specific tasks, watching video commercials, and completing questionnaires. Gamers use bitcoin to buy items or compete for bitcoin in digital cryptocurrency contests.

The Future of Crypto Gambling

The casino’s independence from external variables is improved by using online cryptocurrency. In terms of gambling, it offers the reassurance of legitimacy that raises the profile of online casinos. If you look at the statistics for bitcoin or ethereum casino requests, you can see that many individuals are now interested or actively playing. Crypto games are relatively new, but they have already gained a following that no longer is tied to playing traditional casino games for free or fiat money. Customers do not have to make do with whatever casino offers crypto. Now there is enough competition for users to take time to find the best crypto casino online.

States that have not allowed cryptocurrency trading may lack transparency and trust, in contrast to their counterparts who have legal authorities that approve of gaming in online casinos. However, you are still free to engage in such activities. This is because there are no legally binding regulations prohibiting you from trading cryptocurrency in the former states. Prior to playing, you should do your research on the casino to make sure it’s safe.

So, while blockchain technology and bitcoins are not new, their adoption and implementation in the gaming sector are still in the early stages. Currency traders will continue to push for the widespread use of the cyber investment market. In turn, this will lead to a higher usage of blockchain systems and various implementation methods, resulting in major growth in the gaming industry. It will require time and effort on the part of current users to instill the necessary faith and trust in future consumers.

Best Crypto Casinos Online USA

Crypto casino FAQs

What is the best crypto casino in the market?

Check our latest Top 10 recommended crypto casinos to guide you to high quality online gaming environments offering crypto gambling and cryptocurrency deposits and withdrawals. 

What are the advantages of crypto casinos?

You can deposit and withdraw much more quickly with crypto. You may be residing in a country that does not permit online gambling, and therefore your regular banking method might not be available to you.

What are the Disadvantages of Bitcoin Gambling?

There are many unlicensed online casinos offering cryptocurrency as the sole payment method.  Try to look for a crypto casino that is well reviewed with positive user feedback.

How do I start a cryptocurrency wallet?

If you are a complete beginner we strongly advise you to do plenty of research before getting into crypto trading due to its volatility. You will need a secure digital wallet before you can deposit at a crypto casino.