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Monero Casinos

Find the best online casino accepting Monero payments.

Abbreviated as XMR, Monero is one of the highly secure cryptocurrencies used in online casinos today. It implements technologies that heavily encrypt the transactions, thus enhancing their privacy and anonymity. This makes it extremely hard for those looking to infiltrate its system to decipher addresses and other details of Monero transactions.

Let’s explore in more detail the best Monero casinos online.

Best Monero Casinos Online

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bonus up to 20000000Coins
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About Monero

Monero’s superior privacy features have attracted many individuals to the cryptocurrency. After Bitcoin and Ethereum, it has the third-largest community of developers. Owing to its privacy benefits, this crypto is gradually becoming one of the popular payment methods in online casinos. As a result, you’ll come across hundreds of online casinos in recent times that accept Monero.

The developer community of Monero has also released a dedicated wallet for this cryptocurrency. It can be used to store your XMR coins. This offers you the much-needed ease in your online casino transactions. Monero is also being increasingly supported by a lot of online businesses. This can be attributed to the efficiency of its wallet in making online crypto payments.

The concept of Monero based on the ‘CryptoNote’ protocol was first described by Nicolas van Saberhagen in his 2013 white paper. According to Saberhagen, privacy and anonymity were the most important aspects of digital money. A user of the Bitcointalk forum coded these ideas into a cryptocurrency that was given the name ‘BitMonero’. It underwent a fork in 2014, which resulted in the creation of Monero.

This cryptocurrency uses zero-knowledge proofs or ‘Bulletproofs’, ring signatures, stealth addresses, and IP address obscuring to conceal the transaction details. The Monero transactions are validated using a proof-of-work algorithm called RandomX. This algorithm also issues new coins to miners. It offers strong resistance to application-specific integrated circuit or ASIC mining.

The Monero team came up with an announcement in 2017 that they would partner with many online stores and 45 musicians. This was done for the acceptance of this crypto as a payment method for their merchandise. In the following year, a mobile app that mines Monero was released by Bail Bloc. The purpose of mining through this app was to raise funds for defendants who couldn’t cover their own bail due to lower income.

Pros and Cons of using Monero in online casinos

If you want to use Monero as the payment method in the online casino you’ve chosen, you’ll first need to sign up on its website. Once this is done, you can claim your XMR e-wallet. There are many ways to obtain the Monero coins. You can get them by mining, buying them on crypto exchanges, or making conversions within your e-wallet.

Many casino sites have fabulous welcome bonuses and promotional offers for Monero users. This gives you yet another reason for using this cryptocurrency in online casinos. However, before you start using Monero, it is essential that you know its pros and cons.

Pros:

  • It ensures a high degree of privacy and anonymity in your transactions
  • The transactions are faster than most of the other cryptos
  • You need not worry about paying higher transaction fees
  • It has greater scalability compared to most cryptos

Cons:

  • There are still a lot of casinos that don’t accept Monero
  • As with all the other cryptos, its high volatility may impact your winnings

How does XMR compare to other payment methods?

Some of the greatest benefits of Monero include faster processing of transactions and a high degree of privacy and security. You don’t need to provide any of your sensitive personal data online while making your transactions with Monero. This is not the case with bank transfers and credit or debit cards. They require you to enter some of your sensitive information online.

The traditional online casino payment methods charge high transaction fees. You can reduce the amount of fees to some extent by using one of the popular e-wallets. However, the fees are still high when compared to that charged by cryptocurrencies. You’ll be delighted to know that the transaction fees for Monero is lower than that of many other cryptos.

You can reduce your fees and have greater privacy and online security by using prepaid vouchers. Despite this, there’s always a risk of losing such vouchers accidentally. If this happens, there’s no way of getting them back or replacing them. You’ll need to buy a new prepaid voucher from your nearest store.

Monero Fees

The Monero fees per kB (two inputs added with two outputs) for a transaction is $0.24. This is extremely low when compared to most popular cryptos such as bitcoin and Ethereum. Still, it is a little higher than Bitcoin Cash, Litecoin, Dash, and a few other cryptocurrencies. The fees tend to get higher with regards to the size of your transactions.

The use of ‘Bulletproofs’ in the Monero network reduces transaction sizes by a minimum of 80 percent. This eventually translates to an 80-percent reduction in transaction fees. The lowest transaction fee that Monero charged was $0.0010 and the highest was $0.9682. You’ll notice in both the cases that they are still lesser than a dollar.

The fees will certainly go up if you increase your transaction’s priority. Upon increasing the priority of your transaction, it has to successfully compete with the other transactions. This becomes a big reason for an increase in your fees. You’ll also see an increase in your transaction fees if you send funds through lots of small transactions.

How to use Monero for deposits in online casinos

Before making your first deposit, you’ll need to make sure that the casino accepts Monero. If there’s no way of knowing this, you’ll need to sign up on the casino website first. You can then access the cashier, banking, or payments section to see if this cryptocurrency is listed among the payment methods.

To deposit using this cryptocurrency, you’ll need to select it as your preferred payment method. The online casino will then provide you with its wallet address for Monero. Copy this address carefully and go to your personal Monero e-wallet, which has its own address. Next, specify the exact amount you want to transfer.

In the field that has been provided for the recipient’s address, paste the address you had copied from the casino website. Upon proceeding further, you’ll need to confirm the transactions to send the specified deposit amount. It will reflect in your online casino account if the transaction has been completed successfully.

How to use Monero for withdrawals in online casinos

Many online casinos allow players to withdraw their winnings using the cryptocurrency they’ve chosen for making their deposits. This is one of the advantages you’ll have by using Monero as your payment method. The process of making a withdrawal is almost similar to that of making a deposit.

Before withdrawing funds from your online casino account, you’ll need to check if it has any minimum and maximum limits for withdrawals. You can then go ahead with your withdrawal process by navigating to the cashier, banking, or payments section. Select ‘Monero’ as your preferred withdrawal method and specify the amount you want to withdraw.

This must be either be less or equal to the amount of funds available in your casino account. Next, enter the your unique Monero wallet address to proceed with the transaction. If the transaction is successful, you’ll get the amount of your winnings in your Monero wallet.

How secure is Monero?

The transactions you make in your online casino using Monero are anonymous, fast, and reliable. This is mainly because Monero’s blockchain technology is different from that of bitcoin. Developers in the network have implemented the zero-knowledge proof method, also known as ‘Bulletproofs’. This guarantees a transaction without revealing its value.

While receiving funds in your wallet, its address is protected through a ‘stealth address’. This makes it untraceable. Such privacy features are implemented by default on the Monero network. Additionally, this cryptocurrency uses the ‘Dandelion++’ protocol, which obscures the IP address of the device, through which, you’re making your transaction.

These are some of the important security and privacy features of Monero, which makes it a highly secure cryptocurrency. You can safely use it as a payment method in the online casinos. However, you need to make sure that you choose a casino website that’s legit and uses the latest encryption technologies.