Crypto Gambling Currencies
Playing with crypto currencies is getting more and more popular, with more gambling sites accepting digital currencies every day. Bestcryptogamblingsites.com has researched the most common digital currencies that are used in the gambling industry, and found which crypto gambling sites accept them! Choose your favourite cryptocurrency and join the fun!
FAQ – Crypto Gambling Currencies
All Crypto transactions are instant if they are processed immediately. Most operators if not all, need to make a number of checks before they release any funds. This means that the withdrawal will be pending until the operator releases it. Once its released, then you will see the amount hit your wallet instantly. Although Crypto Gambling Sites are not as strict as conventional operators, it is common for them to ask you to KYC (verify your identity) before they release your funds. The best way to find out withdrawal times is to read the operator’s FAQ or contact their support.
Crypto currencies were not created for the online gambling industry, but everything evolves, so has the industry, thus the usage of crypto. You can use crypto anywhere accepted; online retailers, auction sites, subscription sites, to make payments to anyone around the world – the list should be endless. On top of that, many people invest or trade on Crypto hoping to make money due to its high price volatility.
Tax laws are different in each country and such it is very important that players are aware of local rules. Typically, crypto casino sites will not deduct any tax liabilities on winnings. As an example, in the UK there are no taxes on gambling winnings. However in the US there is. Also it is important to familiarise ones self with the T&C with each operators site.
This is totally subjective and depends on the personality and the circumstances of each player. For high stakes players who appreciate speed and anonymity, then using crypto is ideal. For players that want a bank account connected to the site, then probably another method should be better. It totally depends on the players!
Obviously Bitcoin is the most popular crypto currency amongst crypto gambling sites. It is the biggest and most popular out there, but definitely it isn’t the only digital currency that is available in the online crypto gambling industry. Player can also use currencies such as Litecoin, Ripple, Ethereum, Bitcoin Cash, Dogecoin, Tether and many more. Please read our reviews where you can find the accepted cryptos from each gambling site, but also our crypto currency section where you can find more information regarding the digital currencies and the crypto gambling sites that accept different cryptos.
It is not common for a crypto gambling site to charge users for using crypto. In some cases though, if players make repeat and constant transactions, then some operators might charge a nominal fee which either can be flat, or a percentage of the transaction amount.
The majority, if not all, of crypto gambling sites will not allow you to use a different method to withdraw from the one that you used to deposit. This is due to anti-money laundering and anti-fraud laws. No one should be able to use online gambling sites in order to “clean” money obtained illegally, nor use credit card numbers that have been hacked or stolen from unsuspected individuals. Of course, there are some exceptions, but certainly you will need to go through a process where you should prove that you are behind every deposit that you have made so far.
It is very unlikely to see a payment fail when using crypto, unless you are sharing the wrong wallet address. In the unlikely event that a payment fails, then we recommend to contact both – the crypto gambling site you are playing with but also the crypto exchange or wallet provider, giving them exactly the details of the transaction and we are confident that you will have your issue sorted in