Crypto gambling has taken over, with many players from across the world flocking to the top online casinos to enjoy their favorite games. The gambling market is still heavily regulated and controlled by relevant global authorities. However, the constant evolution of the industry has made it possible for players to comply with the set regulations while still having fun.
The addition of cryptocurrency payment methods to the sites has made it possible for many users in the UK to play safely. Cryptocurrency depends on a peer-to-peer system and therefore makes it easier than ever before to sell, buy and facilitate financial transactions without the need for an intermediary.
Reasons Why Players Prefer Crypto gambling
Crypto gambling has been on a steady rise in the recent years. The revolutionary rise of crypto gambling can be attributed to several factors, such as:
Fast Payments
Traditional payment methods, such as credit and debit cards, have always been slow and inefficient. Due to the huge volume of paperwork involved, players often had to wait for their payments to be processed.
However, crypto gambling does not rely on an intermediary, so payments are processed much quicker. It gives the players total control of their payments.
What’s more, top crypto and bitcoin casinos don’t charge you deposit or withdrawal fees. However, beware, they may deduct miner’s fees from your winnings—money paid to the people who verify crypto transactions.
Flexibility
The use of cryptocurrencies to the gambling industry has added an increased layer of flexibility when it comes to payment options for your withdrawals and deposits.
Due to the wide variety of cryptocurrencies available, players can choose their preferred cryptocurrency to play their favorite games. Players do not have to resort to a particular payment method, as is often the case with traditional payment methods.
Increased Online Anonymity
Online anonymity has become a top priority for most players across the globe, especially for those in areas where gambling activities are illegal or heavily controlled. The use of traditional payment methods made it easy to trace players’ payments.
However, due to the decentralized nature of cryptocurrencies, players can maintain their privacy and anonymity when making online transactions. In addition, most of the top online sites have integrated privacy features to their sites to maintain the anonymity of the players.
Increased Bonuses with Deposits
Crypto deposits avail much more deposits and rewards to the users than with the traditional payment methods. Some of the top online casinos in the UK offer extra bonuses and rewards for players making deposits using cryptocurrencies. It is an excellent way for beginners and more experienced players to enjoy increased returns from the initial deposits.
Crypto Gambling Regulations in the UK
The United Gambling Commission is in charge of controlling and regulating all forms of gambling in the UK. It is important to remember that the UK Gambling Act does not have any specific provisions regarding the use of cryptocurrencies. A license is still required for casinos that support crypto gambling.
Online gambling sites must also notify the Commission of any specific changes in the supported payment methods. Online casinos are required to meet the necessary conditions to run legally. It is crucial to ensure the online live casino you visit has a valid license before you make a deposit.
Essential things to keep in mind about Crypto gambling in the UK
Numerous gambling sites in the UK accepts crypto payments. For beginners and even more experienced players who are still new to the idea of crypto gambling, there are several essential things to keep in mind before diving head first into the new world of crypto gambling:
Consider the Accepted Cryptocurrency
It is best to carry out your research to find an online casino that accepts your preferred cryptocurrency. Most of the top online casinos will generally accept the better-known cryptocurrencies as they tend to be more stable. The range of supported cryptocurrencies will also provide flexibility when it comes to making payments.
Avoid Meme Cryptocurrencies
Meme cryptocurrencies have a speculative value and can be very unstable. They are associated with aspects of humor and mostly rely on trends on the internet. It is best to avoid meme crypto, although some of them have grown to become mainstream and stable. Always consider the value of your preferred cryptocurrencies to ensure you get the full worth of your investment.
Capitalize on Offered Bonuses
Bonuses and rewards have often been used as incentives to attract more players to gaming sites. It can help to take your time and research more on the available bonuses in the market on cryptocurrencies to find the best option for you.
Have a Clear Gaming Strategy
Most experienced gamers create and stick to a gaming strategy. It is a great way to maximize your winning and reduce losses. As a beginner, it is best to take your time to familiarize yourself with the games instead of rushing in headfirst.
Having a mentor can help you grow and improve as a player. A few golden rules to remember include creating and following a strict budget, staying clear of drugs when gaming, and betting only what you can afford to lose.
How to Start Gambling with Cryptocurrencies in the UK
Venturing into crypto gambling is easier than ever before. It is crucial to ensure you follow the right steps for the best results:
Set Up Your Crypto Wallet
A crypto wallet or is a secure location that allows you to store and access their cryptocurrencies. There are several available options, and your choice should depend on the versatility and simplicity offered.
Buy Your Preferred Crypto
After setting up your e-wallet, you can log in to purchase your preferred crypto using one of the traditional payment methods. Checking the accepted cryptocurrency by your preferred online site can be helpful. You can also use cryptocurrency exchanges and third parties to purchase your cryptocurrency.
Select Your Preferred Online Casino
Choosing an online casino that accepts the cryptocurrency you have purchased is critical. It is also best to consider other factors, such as the variety of games offered and the general reputation of the casino. You will then need to wire the cryptocurrency to the corresponding wallet. It is often easier than traditional payment options, and you should be done in a few clicks.
Pick Your Preferred Game
You can easily filter out the available games to find the right one for you. It can be helpful to read the terms and conditions to familiarize yourself with the crypto game requirements, as the rules and offered payouts may vary from the regular casino games.