Can You Gamble with Your Desired Cryptocurrency? - Coindoo

Can You Gamble with Your Desired Cryptocurrency?

Editorial Team Avatar
Feb 19, 2021
3 min reading time

The short answer is yes. But if you desire a longer answer, read on. The cryptocurrency craze is everywhere on the internet. Names like Ethereum, Bitcoin, and Litecoin have found their way into the general public’s vernacular. Most gamblers don’t know that cryptocurrency gambling has been in existence for as long as digital coins.

Today, you can deposit and withdraw in cryptocurrency on some sites. Others may even allow you to bet in crypto denominations. This article tells you how casino online gaming has embraced cryptocurrency.

Why You Want to Use Cryptocurrency in Gambling

Source: Imbibe

As cryptocurrency gains popularity in the general public, most punters ask why they should use it to play casino games. Well, there are many reasons, but here are a few:


When you deposit with cryptocurrency, your transactional record will be kept safe all over the world. That makes it difficult for the receiving casino to disappear with your money because they’ll also need to make transactions that must be recorded. This makes it easy to trace their digital paper trail. 

Exchange Rates

The exchange rates of cryptocurrency are similar to those of traditional currencies. Like traditional currencies, the value of cryptocurrency rates fluctuates daily. When you deposit bitcoin to play casino games, it must be converted to USD. Most operators may want to charge a small fee for the conversion. However, this will affect your bottom line. It would be best if you don’t change the currency to have more money to bet with.

Steps of Gambling with Cryptocurrency

To gamble with cryptocurrency, you need to sign up for a site that’s cryptocurrency compatible. After signing up, follow these simple steps:

Open a Wallet

The first thing you want to do if you’re planning to use cryptocurrency to play casino games is to open a cryptocurrency wallet. Most people who use this currency have this wallet. If you’re in that category, you can skip these steps. But if you’re new to this, find sites that allow you to access a digital wallet. After accessing the site, sign up for an account. You’ll be given an address that’s related to your account. Ensure you keep it safe.

Purchase Some Coins

To pay using cryptocurrency, you require some coins. With a crypto wallet, you can easily log in and buy coins using your traditional currency. Select your preferred choice of coin (bitcoin is the most common) and the amount you’d wish to spend. The transaction will be completed within seconds.

Log in to the Site

Once your wallet is funded, log in to the casino site you signed up to. Ensure the site offers you your preferred games. These may be poker, sports, or bingo. You can switch to another site if your current site doesn’t provide some games.

Make a Deposit

To make a deposit, you’ll need to open your crypto wallet. Most sites will reflect the transaction after a short period.

Select a Game

Once you’ve made a deposit, select the game you want to play, stakes level, and table. Ensure you read every game’s rules and look at the odds carefully.

Bottom Line

As more cryptocurrencies are being invented, gamers will have more coins to play casino games.

Featured image: TelemediaOnline

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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