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BENEFITS OF WITHDRAWING CASINO WINNINGS IN CRYPTOCURRENCY

There are several types of casinos that use cryptocurrencies. Some use only digital currency, others also accept traditional payment methods (credit and debit cards, e-wallets, bank transfers, prepaid cards, etc.). Why does crypto and online casino seem like such a perfect marriage? Well, in this VIPCoin Casino guide we’re going to break it down in detail.

It is important to arm yourself with the relevant knowledge, this way you will save yourself a lot of the hassle associated with time-consuming bank transfers. You no longer need to contact online payment service providers. Thanks to the simple software, players can buy cryptocurrencies, transfer them to a casino account, and withdraw funds in just a few steps.

Absolute security is another feature that speaks in favor of using this online payment method. It is impossible not to mention also the anonymity of transactions in crypto. Players are completely protected from hackers or scammers and do not need to disclose their online banking details.

Are you interested in withdrawing casino winnings in cryptocurrency and want to know more about this method? Read this detailed review to see if this solution is right for you!

HOW TO WITHDRAW FUNDS FROM A CRYPTO CASINO?

Withdrawing funds from a bitcoin casino can seem like a daunting task. In fact, the player has nothing to worry about, since the withdrawal methods and procedures are standard.

More and more users of gambling sites are abandoning traditional methods of transferring money (from credit cards to bank transfers) in favor of modern virtual currencies. Numerous lists are regularly updated showing all online casinos that accept cryptocurrencies as a payment method for replenishing their gaming account and withdrawing funds. Digital currencies offer significant advantages over physical money, both in terms of tracking and processing transfers and in terms of ease of use.

In fact, those who have won cryptocurrencies in an online casino and want to withdraw them simply need to follow these steps:

  1. Log in to your account (casino account) using your password and username.
  2. Go to the “Cashier”/”Wallet” section.
  3. At this stage, the player will need to choose a withdrawal method – go to the “Withdrawals” tab and click on “Bitcoin”.
  4. Enter the amount you want to withdraw.
  5. When the amount to withdraw is selected, you must confirm your request. Enter your public wallet number.
  6. The gambling site will display the waiting time.

Some casinos offer an immediate crypto withdrawal service, while others require up to 5 days for the request to be verified and processed according to company policy. 

THE MAIN REASONS FOR THE POPULARITY OF WITHDRAWING WINNINGS IN DIGITAL CURRENCY

The main reasons for the popularity of withdrawing winnings in digital currency

The gambling sector is constantly evolving. It is very important to use secure platforms – they offer all the necessary conditions for fair play and are carefully checked by experts.

Security and independence 

Your deposits and withdrawals will always be safe. Virtual currency is not stored in any bank and cannot be withdrawn or stolen. Each transfer to the casino is recorded in the blockchain ledger. This ensures that transactions are encoded and recorded in the ledger. You are in complete control of your funds. You don’t have to worry about them being blocked or frozen for any reason.

Registration on secure platforms guarantees the fairness of the game and the absence of problems with the withdrawal of winnings. It is easy to check the honesty of operators. Official sites contain links to the sites of regulatory authorities, which, in turn, provide full details of the company that manages the casino.

No intermediaries

The peculiarity of digital currencies is that they are decentralized. Therefore, you do not need to deal with intermediaries. In ordinary online casinos, such an intermediary is most often the bank.

Confidentiality

Anonymity is one of the strongest sides of the cryptocurrency casino. In fact, by using virtual currency, you remain completely anonymous. This means that the withdrawal of winnings will be carried out without revealing any personal or bank details.

You do not need to provide any information about your bank card. Your transactions are not registered with the casino.

Low commission

Cryptocurrency casinos charge a small fee for withdrawals. This is a nice advantage over other payment methods such as bank transfers.

High transaction speed

Reliable operators offer fairly fast payments. Other methods such as credit cards or e-wallets may take up to 3 days to process.

Generous bonuses

Before choosing an online gambling site, you should find out about the bonuses it offers. Most companies attract players with no deposit bonuses that allow newcomers to make a profit without investing money. For regular players in the cryptocurrency casino, deposit bonuses and free spins are provided.

DISADVANTAGES OF WITHDRAWING WINNINGS IN CRYPTOCURRENCY

To draw up a complete picture, it is important to also touch on the existing disadvantages. 

First, you must be familiar with technology and the world of virtual currencies. Secondly, the value of bitcoin can be extremely volatile. Volatility can cause significant price fluctuations. While this can be beneficial in some cases, such as increasing the value of bitcoin, it can also work against you. Your BTC may lose its value in the process of converting virtual money into fiat or vice versa.

Since no one owns the blockchain, it will be difficult for you to troubleshoot casino transactions. While casino advisors may provide some support, they do not affect the blockchain.

In addition, a withdrawal request cannot be cancelled. Once you have confirmed the transaction, the funds leave your wallet.

SPECIFICS OF “INSTANT” PAYOUTS IN CRYPTO CASINOS

Specifics of “instant” payouts in crypto casinos

A few years ago, many gaming sites “forced” gamblers to wait for several days until the withdrawal of funds was completed. But the emergence of virtual money has made adjustments, and Blockchain technology has made it possible to make payments in the casino faster. Increasingly, in search of a reliable online casino, players prefer sites with fast payouts. Instant withdrawal of funds in bitcoin casinos is a new standard that is gaining more and more popularity.

All users of virtual gambling clubs are divided into three main camps: some play for fun, others for the sake of winning and excitement, and still others just to pass the time. But when it comes time to withdraw winnings, the goals of gamblers intersect. Any player is interested in instant withdrawal of funds, and the reasons for this are also different for everyone. Some people think that the speed of payments is an indicator of the reliability of a cryptocurrency casino, for others it is a sign of the scale of the gaming platform. Both of these assumptions are correct, but this topic is much more extensive. Let’s figure it out!

First of all, let’s analyze the definition of “instant withdrawal”. In fact, they can only be called instantaneous relatively. This name was invented by marketers and casino promoters, but it is not entirely true. Any player would prefer to immediately receive a win to save the game heat. Advertisers took advantage of the situation and began to lure users to their sites, promising the coveted “instant” payments. Why is this a hoax?

Bitcoin is not a fiat currency, but it has its own governance tools in the form of a blockchain. Any withdrawal must go through a confirmation process. After you give a withdrawal request, it is processed by an employee of the playground. The withdrawal of bitcoins from the casino must be confirmed by the blockchain, after which the winnings will go to your wallet. Without a verification procedure, security and anonymity would be out of the question.

As a result, even an instant withdrawal from gambling sites takes some time – mostly from 10 minutes to an hour. This, of course, is much faster than with conventional currencies, but it is more appropriate to call withdrawals not instantaneous, but the fastest.

To find a bitcoin casino with a quick withdrawal, you can analyze all the available platforms yourself, but this will take a lot of time and effort. Therefore, we recommend that you sign up right here at VIPCoin Casino , where you can play with pleasure, and then quickly withdraw your winnings.

The situation with the process of finding the best online cryptocurrency casino with fast payouts is quite complicated. Sometimes it is worth looking into less popular and newer casinos. They have an advantage over larger venues – they don’t have to process a huge number of requests, so they can pay out winnings faster. But this is not a rule, but just a life hack that sometimes works.

It is also worth noting that the best online BTC casino with fast payout offers a wide range of different games: slots, blackjack, poker, roulette, live gambling.

Even in a cryptocurrency casino with fast payouts, some players may encounter additional obstacles. For example, if you are cashing out digital money for the first time, you will need to verify your account. Also, do not forget that the withdrawal speed depends on the cryptocurrency you use.

Why are fast payouts in online halls for bitcoins important?

The longer the player waits for a payout, the less satisfied they will be as a casino customer. Some online casinos deliberately slow down the withdrawal of cryptocurrencies so that players lose their patience and do not wait for a win.

Land-based casinos are built in the labyrinth format – this is done specifically so that players do not leave the establishment after winning. You are expected to leave your winnings at the casino, not walk away with it. That is, for example, you won at roulette and went to cash out chips – your path will definitely be laid through slot machines in order to interest you in continuing the game. There is no such possibility in online gambling, because to exit you just need to close the browser or application. Therefore, some unscrupulous virtual casinos with cryptocurrencies deliberately slow down the withdrawal of funds. Such sites fall into all sorts of black lists. In this situation, it is recommended that you move to a more reliable portal. 

Slow withdrawals may indicate that the casino is experiencing cash flow difficulties. On the contrary, fast payouts give us objective information about the most important aspects of gaming sites:

  • safety;
  • a responsibility;
  • reliability;
  • quality support service;
  • high chances of winning, etc.

Fast withdrawal of cryptocurrencies is the best indicator of the reliability of a BTC casino. And this is quite natural. If you have ever taken a loan from a bank, you are familiar with this procedure. Your credit history is reviewed before a loan is issued. Borrowers who have a better credit are more preferable than those who have never taken a loan at all. With an online casino, the situation is similar, but here you are already acting as a bank.

Thus, at verified cryptocurrency casinos, players can receive their winnings faster compared to traditional withdrawal methods, but the payouts are not “instant”. When playing in these clubs, you can be sure of fast and high-quality customer support, complete honesty and unsurpassed reliability.

So be vigilant when looking for a casino with fast BTC payouts and don’t forget to check out what VIPCoin Casino has to offer .

WHAT YOU NEED TO KNOW ABOUT CRYPTOCURRENCY: VALUABLE RECOMMENDATIONS FOR GAMBLERS

The constant development of the world of online gambling has led to the fact that many players have abandoned the classic payment methods in favor of digital currency. Starting your journey as a player in cryptocurrency-supporting casinos, of course, you need to learn what it means to own virtual currency and how to get it.

The term that will surely come in handy when withdrawing winnings from a casino is Blockchain. This is a virtual ledger that records all transactions made with digital currency. It was thanks to the birth of this register that digital currency was able to enter the world of virtual casinos for real money.

What cryptocurrencies are accepted in online casinos?

When it comes to choosing a digital currency, newcomers to the world of crypto gambling can get confused for various reasons. First, there are many different coins in circulation, and it seems that their number is increasing at a significant rate. The second point concerns their volatility – the price rises and falls quickly, without being able to specify specific reference points. In addition, unforeseen events may occur that will change the situation in an instant. A sharp rise in prices is possible, or, conversely, a decrease to a historical low.

Therefore, it is quite difficult to say exactly which virtual money is the best. However, the digital currencies with the highest market capitalization can be mentioned. Of course, at the top of the list both in terms of value and popularity are bitcoins. 

Bitcoin, created in 2009, is currently the most widespread cryptocurrency in the world, which is used by virtual casinos. Bitcoin is not made of paper, but is created and used only virtually. This is the first successful application of Blockchain technology. In total, only 21 million Bitcoins can be created in the world.

Other digital currencies have been created over time, so it can be difficult to navigate them. Many of them are accepted in the casino, but some, especially new ones, are not yet available. For this reason, it is recommended that you first find out about the list of cryptocurrencies accepted by your chosen casino.

Ethereum has also performed well in the best online gambling halls.

The second most popular digital currency was launched in 2019. There are about 119.2 million coins in circulation today.

Tether is the third most popular coin that you can purchase to place bets on gambling sites. Its price cannot be significantly higher or lower than that of $1.

Binance Coin (BNB) is a utility token that is used to pay for trading fees, exchanges, and other transactions in the Binance blockchain ecosystem.

The coin has a strict limit of no more than 200 million BNB tokens.

How to buy cryptocurrency to play in a casino?

Before earning crypto in online games, it is necessary to understand how these virtual coins are bought. Here is a handy step by step guide:

  1. Choice of electronic wallet . This is the first step that allows you to make transactions to buy crypto coins like Bitcoin. You need to choose the best platform at the lowest cost.
  2. Buying bitcoins. Now you need to move on to the actual purchase. It is recommended to pay attention to the exchange rate and performance of bitcoin in order to avoid unpleasant surprises. In fact, choosing the right moment to buy cryptocurrency is essential to making the most profit in the casino. As noted, one of the characteristics of digital currencies is high volatility, which causes rapid and sudden price changes.
  3. Top up your account. At this point, you need to go to one of the crypto casinos, select the virtual coins you want to deposit, obviously among those available, and then set the amount.

SAFE USE OF CRYPTOCURRENCIES IN ONLINE CASINOS

Safe use of cryptocurrencies in online casinos

Bitcoins are widely regarded as a fast and secure way to transfer savings from a bank account to a gaming account and vice versa. However, in order to fully immerse yourself in the game without risking or worrying about security, it is recommended that you take some precautions that can protect players from any attempts at fraud or non-transparent procedures.

Choose the cryptocurrency casino that suits you best!

First of all, you need to choose a virtual casino that meets all the standards of quality service. You need to choose an intuitive and efficient portal that guarantees a simple and fast registration process. Of course, you should make sure that Bitcoin is one of the accepted currencies by checking the supported payment methods first.

Check out the terms!

Once you are sure that the online gambling site meets your requirements, it is recommended that you carefully read the terms and conditions of the casino, paying special attention to the points regarding payment systems, as well as the procedure for withdrawing cryptocurrencies. Although many players tend to skip this section, it contains a lot of useful information. An informed player is more likely to protect themselves from online fraud, as well as to protect themselves from unpleasant surprises during the game.

Check if the online casino protects users’ personal data!

Finally, no gambling site can guarantee complete protection against any attempts at fraud or identity theft if it does not have a license that confirms the correct operation from a legal point of view.

CRYPTOCURRENCY CASINO WITH A BONUS: HOW THE SYSTEM WORKS

Some players keep trying to find a BTC casino with tempting bonuses and instant withdrawals. It’s actually a waste of time. You need to understand the very essence of bonuses and what gambling sites use them for. The exclusive offers provided by crypto casinos to their players are designed to help them get extra winnings.

You can find cryptocurrency casinos with bonuses enticing with attractive promotions, but before signing up for an offer, read the terms and conditions carefully. Make sure the bonuses on the portal in question are not one-off offers meant to lure you to the site.

Stay away from rooms that promise to give you bitcoin for signing up or making a deposit. Usually they are scammers. A BTC casino is nothing more than an ordinary gambling hall that has included virtual currency among the payment methods. Consequently, the bonuses on these sites are typical.

CONCLUSION

In general, withdrawing funds from a casino to cryptocurrencies is a good way to get winnings, as much of the success is based, in particular, on two aspects: anonymity and security. In practice, no one will know your personal data during transactions. In addition, each transfer to the casino will be entered into the blockchain electronic register.

More and more players are choosing digital currency for their transactions, and there are many reasons for this. And now that you know about all the benefits of crypto casinos, maybe you will join their ranks too.

Author Details

Alexandr Oleynik

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