Skip to main content
All CollectionsCrypto Basics
What are Crypto Casinos?
What are Crypto Casinos?

Learn about crypto casinos and how to use them with your Best Wallet.

Updated over a week ago

Crypto casinos have become increasingly popular over the past few years, offering improvements to the traditional online casino experience.

They have, in many ways, revolutionised the online gambling sector, offering a secure, private, decentralised way for players to enjoy their favourite casino games.

These crypto casinos represent a thriving sector within the online gambling industry. These platforms offer players the opportunity to engage in a variety of casino games using digital currencies like Bitcoin ($BTC), Ethereum ($ETH), Tether USDt ($USDT), and others. This means you can use your crypto to place wagers or play games online.

How crypto casinos work

Crypto casinos operate similarly to traditional online casinos but with a key difference: they utilise cryptocurrencies for all financial transactions. Many crypto casinos will have the same games or waging setups as traditional online casinos.

Players can deposit and withdraw funds in the form of digital currencies, enjoying the perks of blockchain technology such as anonymity, enhanced security, and quicker transaction speeds.

At the heart of crypto casinos are the games they offer, which range from classic options like slots, poker, and blackjack to live dealer and unique blockchain-based games.

These platforms often use provably fair algorithms, enabling players to verify the fairness and randomness of every game's outcome.

Benefits of using crypto casinos

  • Enhanced Security: Blockchain technology provides robust security measures, protecting player funds and personal information from unauthorised access or manipulation.

  • Anonymity: Cryptocurrency transactions offer a high level of anonymity, allowing players to gamble online without disclosing their identities.

  • Transparency: Many crypto casinos utilise provably fair algorithms, enabling players to verify the fairness of games and ensure they are not being cheated.

  • Global Accessibility: Crypto casinos operate on a global scale, allowing players from anywhere in the world to participate without geographical restrictions or currency conversion hassles.

  • Faster Transactions: Cryptocurrency transactions are typically faster and more efficient than traditional banking methods, enabling quick deposits, withdrawals, and gaming experiences.

Disadvantages of crypto casinos

  • Regulatory Uncertainty: Crypto casinos face unclear rules in many places. They must deal with changing laws to stay legitimate.

  • Volatility: Prices of cryptocurrencies change a lot, which can affect games and money. Casinos and players must manage this risk.

  • Security Concerns: Despite the security of blockchain, crypto casinos can still face online threats. They need strong security to protect users' money and information.

  • Limited Adoption: Not everyone uses cryptocurrencies yet, which can make some hesitant to try crypto casinos.

  • Lack of Regulation: Without strict rules, issues with consumer protection and fair play can arise in crypto casinos.

Examples of crypto casinos: Coin Poker and WSM Casino

One of the more popular crypto casinos is the WSM Casino, born from the success of the Wall Street Memes ($WSM) community.

Players can sign up, connect their crypto wallet, and play hundreds of different online crypto casino games, as well as bet on live sports with their crypto. Not only does WSM Casino, like most crypto casinos, simplify the way to deposit and wager, but it also offers the security and privacy of decentralised blockchain technology.

Another example is Coin Poker, the number one decentralised crypto poker platform. On Coin Poker you can use Bitcoin or other cryptocurrencies to securely and privately play online poker.

Can I use my Best Wallet in online crypto casinos?

Yes, Best Wallet supports many of the most popular cryptocurrencies used in crypto casinos, including Ethereum ($ETH), Tether USDt ($USDT), Dai ($DAI), and USD Coin ($USDC).

You can also access iGaming platforms like Coin Poker and WSM Casino directly within Best Wallet by going to Apps in the navigation bar.

You can then easily make deposits and withdrawals on the crypto casino with your Best Wallet.

To conclude

Crypto casinos represent a significant shift in online gambling, offering a more secure, private, and efficient way to enjoy gaming.

By utilising the advantages of blockchain technology, these platforms provide an enhanced user experience, marked by fairness and transparency.

As players increasingly seek alternatives that prioritise privacy, security, and efficiency, crypto casinos are well-positioned to meet these evolving demands and shape the future of gambling in the digital age.

As always, if you are using your Best Wallet to connect and play on crypto casinos, ensure you double-check the crypto casino's legitimacy before connecting. Note: It's best practice to disconnect your Best Wallet from dApps and websites once finished.

Did this answer your question?