Crypto Casinos: How to Deposit and Withdraw?

Crypto casinos are becoming increasingly more popular nowadays and some people are quite new to this. For this reason, we have written this guide to help those people out that want to know how to safely and securely deposit and withdraw cryptocurrencies at online casinos. Don’t worry, you don’t need to be tech-savvy to do so, and it’s pretty straightforward as long as you closely follow the steps in this guide.

Choosing the Right Crypto Casino

Let’s start off with the most important thing, and that is that you choose the right crypto casino to play at. Although it might be a matter of taste which bitcoin casino Canada you like the most, we can’t underline enough how important it is that you only play at trustworthy and reliable cryptocurrency casinos. There are many rogue casinos out there that are just aiming to scam you out of your crypto. So, do yourself a favor and only play at bitcoin casinos that are established and that have positive reviews on gambling forums.

Signing up at a Crypto Casino

Once you have found the right crypto casino and decided you want to play there, you simply open an account with them. Most of the time there is a clear ‘sign up’ button located on their website, which you click on and then follow the on-screen instructions to open a casino account at that particular crypto casino. In some cases, at so-called Pay’n Play casinos, you don’t need to register an account at all and you can head straight to the cashier.

Depositing Crypto at a Crypto Casino

Depositing crypto at a crypto casino isn’t as hard as it sounds. The only thing you need to do when you are at the cashier of the crypto casino of your liking is to follow these simple steps:

• Select the preferred cryptocurrency as a deposit method and enter how much you want to deposit.
• You will then be presented with either a QR code, a deposit address, or both. At this point, you scan the QR code whilst logged in on your cryptocurrency exchange or wallet and confirm the transaction. If there is no QR code, you copy the deposit address manually and paste it into the crypto exchange or wallet app you are using. In this case, you also have to confirm the deposit by 2-factor authentication.
• It will take a few minutes, but if all went well the deposited cryptocurrency will be added to your casino balance. Note that some casinos convert your deposited cryptocurrency into CAD, whilst others allow you to play in Satoshis or altcoins.

Crypto Casino Deposit Fees

Most cryptocurrency casinos don’t charge deposit fees by themselves, but you still need to pay a miner’s fee, just as you would with any non-casino crypto transaction. The height of this miner fee depends on which cryptocurrency you’re using and on how ‘busy’ it is on the blockchain. Obviously, the cryptocurrency you use has an impact on the deposit speed as well, as Bitcoin, for example, takes a whole lot longer to deposit than let’s say Ripple’s XRP. If you’d like to know more about how cryptocurrencies are used in the gaming industry, there’s quite a lot of information out there about that subject. The bottom line here is just that the crypto casinos themselves don’t charge you anything for depositing crypto, and it might be the case, or actually always is the case, that you receive a little bit less on your crypto casino account balance than that you originally intended to deposit.

Playing with Crypto at Crypto Casinos

Although this might sound a bit straightforward, once you have successfully deposited crypto into your crypto casino account, you just go ahead and play your favorite casino games. There are some differences though between playing with crypto at crypto casinos and playing with fiat money. As in most cases, these types of online casinos show your balance in the entire BTC for example, but every bet you place is shown in a certain decimal of BTC. Your wagers aren’t shown in Satoshis, as that would make for very long decimal amounts like 0,000001 BTC, which looks weird. Instead, crypto casinos use milliBitcoin (mBTC), centiBitcoin (cBTC), and deciBitcoin (dBTC).

At most crypto casinos you can play a whole range of different casino games, from online roulette to blackjack and slots. Some crypto casinos even have live dealer games available, which are streamed from casino studios and presented by professional dealers. If you are a crypto owner, it might be an idea to diversify your casino game a bit, as there are many great games to play. After all, hitting the Mega Moolah progressive jackpot will net you about the same result as investing early in some weird altcoin. With literally thousands of crypto casino games to play, you’ll definitely find a few that you really like. There are even crypto-only casino games that have become insanely popular like Rocket Run.

Withdrawing Crypto From a Crypto Casino

Withdrawing crypto from a crypto casino is just as easy as depositing it. Whenever you wish to withdraw your winnings from a crypto casino to your crypto wallet, whether it is a hardware or exchange wallet, you just follow these simple steps:

• Navigate to the cashier area of the crypto casino you’re playing at.
• Click on withdraw, select the crypto you wish to withdraw, and enter the desired amount.
• Fill in the public address of your receiving crypto wallet or scan the QR code the crypto casino shows you in your wallet app. Now you simply confirm the transaction (in the case the casino has 2FA) and wait for the crypto to arrive in your wallet.

Crypto Casino Withdrawal Fees

Just as with deposits at crypto casinos, there are some fees involved whilst withdrawing your winnings. Again, the casino itself doesn’t charge you anything for withdrawing in most cases, but you will have to pay a miner’s fee like you would with any cryptocurrency transaction. Some casinos process withdrawal requests directly, whilst others process all withdrawals manually. In the case of the latter, you might have to wait a couple of hours or even days before your winnings arrive in your crypto wallet.

How Crypto Casinos Change the Online Casino Industry

Crypto casinos shake the online casino industry up a bit. Most people prefer to gamble online anonymously and like to be able to withdraw their winnings directly. Crypto casinos facilitate both of these things, which is great for these players. Crypto casinos have quite some economic effects on gambling in Canada as well. As the entire industry is changing and leaning more towards anonymous online gambling. Gone are the days where you have to fill in all your personal details, provide a copy of your driver’s license and whatnot, just to gamble a bit online.

Bottom Line

As you have learned from this guide, depositing and withdrawing cryptocurrencies at crypto casinos works very straightforward, and anyone who has deposited or withdrawn crypto from a cryptocurrency exchange before probably knows exactly how easy it all goes. We hope you have learned a bit from this article and wish you good luck at the tables.