Crypto is an increasingly popular method of depositing funds and withdrawing payouts for online casino transactions. But many users are unaware that they can maximize their bankroll and casino bonuses by following some simple rules for crypto transactions.
Learn more about crypto betting at Grande Vegas to make your bankroll work for you!
Betting With Crypto
If you're planning on using crypto at the online casino, you should begin by understanding how cybercurrency differs from fiat currency. The critical difference is the currencies' volatility – the unpredictable, and often rapid, changes in the value of the asset.
First and foremost, you need to remember that a crypto bankroll's value is not static. Whereas fiat currencies are relatively stable, cryptocurrencies' values vary widely from day to day. For instance, you may deposit 100 worth of Bitcoin, but if the price of BTC drops significantly while you are playing, the real-world value of your winnings (and losses) decreases, even if the on-screen balance remains stable in crypto units.
Conversely, if the price of the asset rises sharply while you are playing or after you withdraw, your winnings are instantly worth more in fiat terms. Financial advisors note that if you use crypto coins that aren't highly volatile such as Litecoin, Bitcoin, Bitcoin Lightning, or Bitcoin Cash so you can use or invest them outside the casino and lock in fiat value.
One of the biggest advantages of using crypto for casino gambling involves the anonymity and speed that crypto offers. Whereas traditional bank withdrawals can take days due to processing times and third-party checks, crypto withdrawals, once approved by the casino, can be processed within a few minutes, which is what it takes for the transactions to be verified on the blockchain.
Additionally, the casino-supported cryptos require minimal KYC (Know Your Customer) data for small transactions - often just an email address. This offers a level of financial privacy that is impossible with bank or credit card transactions. Remember that all transactions are permanently recorded on the public ledger (the blockchain).
Security
Online financial security is on everyone's mind these days. The number and scope of online scams has exploded, making everyone a potential victims of scammers who exploit gamers' trust and desire to simply enjoy their gaming adventure.
There are crypto scams but there are many fewer scams with crypto transfers than there are with fiat currency transactions. Your wallet is the key but if you're careful to guard your password and refrain from storing large amounts of crypto in the casino's wallet, your funds will be safe. Financial consultants suggest that you always transfer funds to and from a secure, private wallet (like a hardware wallet or secure software wallet) that you control.
Another important element of banking security with crypto involves double and triple checking the casino's wallet address and your own wallet's address before you deposit or withdraw funds to or from your casino account. If even a single character in the address is wrong, your funds will be lost - transactions are irreversible and there's no way for you to recover your funds.
The fees for crypto transactions are lower than those of other ebanking transactions but there are "gas" fees which you should anticipate. The fees are paid to the blockchain network to pay for the transaction's processing. Such fees might fluctuate wildly which would make small deposits or withdrawals uneconomical.
Crypto Bonuses
If you're using crypto you can take advantage of the casino's crypto bonuses that will boost your bankroll for all your casino gaming events. Grande Vegas encourages players to make their transactions with crypto with gifts of cash and credits that allow you to play more games for more time for free.
If you choose to deposit funds into your casino you have several options including Bitcoin, Bitcoin Lightning, Bitcoin Cash and Litecoin. To withdraw your payouts into crypto coins, you can do so using Bitcoin.
The Grande Vegas Bitcoin Promo gifts bitcoin users with extra casino cash that can give you up to $2500 in casino cash! You can take advantage of either of the two Bitcoin bonuses. Submit the BIT250 promo code and collect a 250% match bonus of up to $1000.
Or, submit the BIT150 promo code and collect a 150% match bonus which is valued at up to $2500! To collect your bonus, submit your chosen code in the "coupons" section before you make your bitcoin deposit. The bonus money will automatically be deposited in your account for you to use at your leisure on any of the casino slots, table games, lotteries, specialty games or any other casino adventures.
Avoiding Scams
Regardless of your preferred method of ebanking, you should stay abreast of the current scams, many of which target crypto users. Never share your password with anyone and store your Ewallet password in a safe place, offline, so that you'll never lose it.
Don't click on any links that you receive in emails or text messages that say that they're coming from the casino - if you are unsure whether or not the message is legitimate, check your account's inbox by logging directly into the casino website by typing the casino URL into the casino's address bar.
Betting with crypto offers an exciting future for iGaming enthusiasts. By managing volatility, prioritizing security, and understanding the unique security needs of the casino you can ensure a safer and more rewarding online casino experience.
