Cryptocurrency Gambling Sites in 2018 (7 Step Crypto Casino Guide)
This is our article on the best cryptocurrency gambling sites in 2018. This article should give you all the information you need to gamble in crypto casinos safe and easy.
These days there are over 1000 different cryptocurrencies, but this article concetrates on the most important ones.
So grab a coffee or some tea, take a comfortable position and dig deeper in to the world of Bitcoin, Ethereum, Litecoin, Dogecoin and Dash gambling!
Crypto Casino Guide (Article Contents)
- Introduction to Cryptocurrency Gambling
- Bitcoin Gambing
- Ethereum Gambling
- Litecoin Gambling
- Dogecoin Gambling
- Dash Gambling
- Final Thoughts
1. Introduction to Cryptocurrency Gambling
Bitcoin was the first cryptocurrency founded in 2008 by a mysterious pseudonym character or developer group called Satoshi Nakamoto. On 18 August 2018 the domain Bitcoin.org was registered. Later that year on 31 October the whitepaper for Bitcoin was released.
This whitepaper instructed how the peer-to-peer electronic cash system worked. The whole Bitcoin runs on decentralized computers (called miners) who verify the contents of each Bitcoin wallet and the transactions. Still in 2018, nobody knows the true identity of Satoshi Nakamoto.
Cryptocurrency Gambling Emerges
When human creates a new form of money, there will be gambling. The first cryptocurrency casinos were founded quite soon. One of the first ones was Satoshi Dice, which was a dice site established in 2012.
Later in 2013 more crypto casino sites started to emerge with names like BetCoin and BetChain (2013) or BitStarz (in 2014). The first licensed Bitcoin casino was Bitcasino.io which was founded in 2014.
Since then, these days there are tens or even hundreds of different cryptocurrency casino sites. Some of them are trusted and legit, and unfortunately there are also more shadier ones out there. This site lists the best of crypto gambling sites to help you with your journey!
2. Bitcoin Gambling
There are many reasons why cryptocurrencies like Bitcoins are really popular in crypto casino sites. Here are some of the benefits of crypto gambling.
Bitcoin Advantages in Crypto Gambling
1. Bitcoin is decenralized
You are the only one controlling your funds in the Bitcoin wallet. Nobody can freeze or take away your cryptocurrencies from your wallet.
2. Bitcoin transactions are fast
Usually Bitcoin casinos accept Bitcoin transfers instantly, but final confirmation of the transfer is done even in just 10 minutes.
Withdrawals also work usually fast and some crypto casinos have almost instant withdrawals. Some of the casinos use manual inspections in the withdrawals and transactions should run through in few hours.
3. Bitcoin is anonymous (or pseudonymous)
No one can know, if you own Bitcoins or not. If being more accurate, Bitcoin is usually called pseudonymous. That means all the transactions made by person X can be tracked from the Blockchain.
The blockchain is a decentralized database holding the information of all wallets and the transactions. But, if somebody can link you to owning some Bitcoin wallet, your transactions can then be tracked.
That’s why Bitcoin is more often called pseudonymous than anonymous. You can move funds with a “secret name” that nobody can link to you.
4. Bitcoin works globally
You can transfer Bitcoins fast and cheap to all over the world. All you need is an internet connection and a computer or a mobile device. You don’t have to pay the 2-3% transfer fees in services like Paypal. Or even 10-20% like in the case of Western Union.
5. Bitcoin transfers are almost free
Transaction fees vary from time to time depending on the Bitcoin network traffic. Usually the fees are about 0,05 US Dollars, which is only 5 cents! And the fee stays the same regardless if you sent $10 or $10,000 in Bitcoins.
6. Provably fair games
Provably fair gaming is unique to Bitcoin casinos. It means that everybody can verify the probabilities of the casino games and see that the games are fair and random. For example Crypto Games offers 7 provably fair casino games.
Bitcoin Disadvantages in Cryptocurrency Gambling
There are also downsides in using Bitcoin in gambling or in general.
- The price of Bitcoin is still in 2018 quite volatile and you cannot know which way it will go in the next weeks or months.
- Bitcoin is an experimental currency and you have to know a little bit about wallets and transactions.
- Only you control the funds, so there is no chargebacks or reversing the transactions!
- Since Bitcoin is untraceable, cryptocurrencies are often used in criminal activities. This can lead to cryptocurrency restrictions on a government level.
In conclusion, Bitcoin’s journey has been quite amazing in the first 10 years. It will be very interesting to see where cryptocurrencies go let’s say in the next 10 or 20 years.
Bitcoin Gambling Sites
If you want to know more about gambling with Bitcoins, you can check our article on the best Bitcoin gambling sites in 2018.
3. Ethereum Gambling
Ethereum is an open-source and public blockchain platform developed originally by Vitalik Buterin.
Ether however is a cryptocurrency which works in the Ethereum platform. Often Ether is also called Ethereum, but the two are a different thing but of course related. With Ethereum, you can create decentralized applications which safe and very hard to hack or infiltrate.
Ethereum offers also interesting solutions to create special smart contract based crypto gambling sites. So called Smart Contract casinos decentralizes the casino platform. Instead of sending Ethereum to a crypto casino, you can play casino games directly through the blockchain.
Because nobody controls your money, the games are 100% fair and you can always check that the random algorithm of the casino game is working and nobody has tampered it. We are planning to add these kinds of Smart Contract casinos soon to our site, so stay tuned!
In the mean time, you can check the Ethereum gambling sites we are offering. They work the same way than regular Bitcoin casinos using Ether as a currency.
4. Litecoin Gambling
Litecoin has many benefits in crypto gambling when compared to Bitcoin. During the change of years 2017 and 2018 Bitcoin’s transactions were very slow and the transaction costs were huge in the scale they were usually been.
Litecoin transactions however have been working fast and the transaction costs are very low. Litecoin gambling sites are coming more and more popular and almost all of the best crypto casino sites have enabled Litecoin gambling to their selection.
Background information about Litecoins
Bitcoin (BTC) was launched in 2009 and Litecoin (LTC) was announced in 2011 few years after. The idea behind Litecoin was to be “silver” in contrast to Bitcoin being “gold”. Bitcoin and Litecoin work in a similar way like all major cryptocurrencies. Litecoin has some technical differences like the number of total coins produced and different mining algorithm.
5. Dogecoin Gambling
Dogecoin also is a good choice to crypto gambling because of low transfer fees and fast transactions.
Also the low value of 1 Dogecoin can bring some extra joy to gambling. You can do micro-gambling with small amounts of real value, but anyway gamble relentlessly with hundreds or thousands of Dogecoins.
Psychologically this can be satisfying and you still don’t have to play big to play with big numbers! There are many choices to pick your best Dogecoin gambling site these days. You can even find Dogecoin casino bonuses from few sites. The best Bitcoin casinos almost always have support to many altcoins like Dogecoins.
Background information about Dogecoin
Bitcoin (BTC) was launched in 2009 and Dogecoin (DOGE) was announced in 2013 few years after. Dogecoin is a bit more fun cryptocurrency which features a Shiba Inu dog from the Internet Doge memes. Dogecoin quickly developed its own very active community in the cryptocurrency world. Also Dogecoin casino sites started to emerge, and now you can do Dogecoin gambling in almost all crypto gambling sites.
6. Dash Gambling
There is not many crypto gambling sites that support Dash, but more and more support is coming every month.
We have found 6 good quality Dash gambling sites. There isn’t yet any crypto casino sites that offer Dash deposit bonuses, but that is only a matter of time when some casino makes the first move.
Background information about Dash
Dash (DASH) is an open source peer-to-peer (P2P) cryptocurrency which was originally released as XCoin (XCO) on January 18, 2014. Since then, the name was changed to Darkcoin and on to Dash on March 25, 2015. Dash is short version for “Digital Cash” and it aims to be most user-friendy cryptocurrency in the world.
Dash has some great features when compared to Bitcoin. Privatesend (Darksend) is a coin-mixing service where transactions cannot be directly traced. So called Masternodes are used to mix the coins they receive from the network.
InstantX stands for “instant transactions” and is a technology that allows transactions to be confirmed in four seconds. This can also be useful in cryptocurrency gambling, if you want to send anonymous transactions or instant ones for some reason.
7. Final Thoughts
Thank you for reading!