Over the past few years, cryptocurrencies have peaked in popularity in various fields – finance, art, science. That tech is of particular interest to gamblers, as it opens up new ways to gamble and manage finances.
Crypto casinos are available worldwide, but today we will focus on Aussie online casinos real money. In our article, you will learn what bitcoin casinos are, how to play, what games are available and how to choose a casino.
Simply put, Cryptocurrency is a way of recording information that makes counterfeiting nearly impossible. Rather than relying on a unique centralised transaction ledger, blockchain technology uses a digital transaction log that is duplicated and distributed throughout the network.
The speed of withdrawal is always a concern for players. Waiting too long for a bank or other third party to process a transaction can motivate players to write negative reviews about the platform on forums.
Cryptocurrency gambling does not require the involvement of third parties. Instead of going through a bank or any payment solution provider, the Bitcoin goes directly from the online casino to the player’s crypto wallet. And instead of a few days, this transfer takes about an hour with no commissions.
Bitcoin casinos, or online casinos bitcoin, has become one of the major iGaming disruptions.
In short, cryptocurrency casinos allow operating in digital coins.
Any site supporting such payments can be considered a Bitcoin casino. Online casinos mostly accept cryptocurrency alongside multiple national currencies. But some only take crypto coins.
Bitcoin is 1 of the most well-known digital currencies, but many other currencies (currently over 1000). Every casino has its list of currencies that can be used to pay. Below is a list of the most popular crypto coins.
It was created in late 2008 and early 2009. Bitcoin appears as the main object of interest from gamblers and trading subjects on various bitcoin gambling sites.
Ethereum is the 2nd most capitalised cryptocurrency globally. Ethereum’s trading volume surpasses all other cryptocurrencies despite its relatively young age. That payment system was launched in mid-2015.
In 2+ years, the coin has steadily risen to 2nd place, competing with Bitcoin, which until recently seemed unreachable.
Litecoin is a derivative (cryptocurrency engineers call it “fork”) of Bitcoin. Litecoin is referred to as virtual silver. It appeared in 2011, quickly gaining popularity and capitalisation in BTC casinos.
This type of virtual money appeared on August 1, 2018. It is a fork of Bitcoin derived from introducing the latter’s new blockchain rules. Bitcoin Cash (today’s accepted acronyms are BCash, BCC and BCH) shares a common history with Bitcoin but is now traded independently.
This stable coin has no transaction blocks and is backed by fiat currency reserves. Tether has no blockchain of its own. Instead, already off-the-shelf decentralised systems are used to sell tokens. So, for example, USDT can be bought using money transfers to the accounts of Tether Limited.
Various open protocols support the functioning of this stable coin. One of them is Omni Layer. It is needed to interact with the Bitcoin blockchain and issue and redeem USDT based on it.
The virtual coin was first introduced to the financial market in December 2013. Its main feature is a relatively fast mining process, which leads to the constant growth of issued currency units.
Slot machines are by far the most popular casino games. Experienced players also enjoy playing slot machines with progressive jackpots, such as NetEnt’s Mega Fortune slot machine, Gladiator: Road to Rome and Playtech’s Age of the Gods.
Roulette is one of the most popular table games in the world. American Roulette with 38 cells is the most popular variant of the game. Other variations such as French Roulette,
Classic Roulette and European Roulette are also available.
Cryptocurrency gambling sites offer players an excellent selection of blackjack. Some of the options available to play are Blackjack Pro, Premium Blackjack, Cashback Blackjack and Buster Blackjack.
Baccarat, also known as Punto Banco, is widely used in the best crypto casino.
The poker game attracts millions of players to the global online gambling scene. Popular video poker games include All American Poker, Tens or Better, Jacks or Better and Deuces Wild.
Live poker games such as Texas Hold’em, Caribbean Stud Poker, Casino Hold’em, Pot Limit Omaha and Omaha High Low.
The best crypto gambling casinos offer their customers a variety of live dealer games which can be played on PCs and mobile devices. These games are provided by leading suppliers like Microgaming, Evolution, Net Entertainment and Playtech. Examples of live dealer games available to any player include Baccarat, Blackjack, Casino Hold’em, Roulette and Live Dream Catcher.
BitStarz allows you to make BTC deposits. You also play in BTC, but some games will only be available if you transfer fiat currency. This casino deploys different crypto coins in addition to Bitcoin.
LuckyBity only permits you to make deposits and withdrawals in cryptocurrencies (BTC, ETH, DASH, LTC), although your current balance in this casino is displayed in USD. The casino website explains that this was done for player convenience.
Uptown Aces helps to make deposits and withdrawals in Bitcoin, but your balance and betting are only shown in USD.
Bitcoin gambling is worth looking at. However, Ethereum and Litecoin will also be convenient. Using them as payment methods will be advantageous for Australian punters.
Of course, you might be wondering what’s more gainful to use, cryptocurrency or fiat money. But, first, let us compare the two casino funding methods.
Some casinos are already using blockchain technology when developing their platform. For example, it allows them to automate payments with smart contracts. In addition, blockchain casinos have their followers, including dedicated affiliate sites. It gives them a broader reach for both players and gaming content.
The key advantage is that users get their funds quickly, both when depositing and withdrawing winnings from the casino.
Fiat currency casinos use their protocols to protect player information. As a result, they are just as fast as cryptocurrency casinos regarding deposit/withdrawal processing speed.
However, this is not true for all deposit methods. For example, E-wallets are the fastest, while bank cards take the longest.
It is worth noting that the deposit bonus is easier to obtain using fiat funds. And their variety is wider than that of cryptocurrencies.
The advantages of cryptocurrency casinos are obvious and are based on blockchain.
Cryptocurrency casinos have no central server, so they don’t require “permission” from the government. The casino owners are anonymous. The government cannot control them, so there are no country restrictions for crypto-casinos.
No one has to “validate” your withdrawal request. The potential winnings are already on the blockchain and tied to a smart contract.
Your government cannot block or prohibit you from depositing into a casino. Likewise, your withdrawal cannot be restricted.
If we tell the disadvantages of cryptocurrency casinos, there aren’t many:
The digital coin is volatile, and the severe imbalance may create problems for users who prefer to gamble using BTC.
Many cryptocurrency casinos give players a first deposit bonus. This amount is not much, but it is enough to turn the game around, to play big and at several gaming tables at once. So naturally, the welcome bonus has to be won back.
For regular and VIP clients, loyalty rewards are a common practice. A player gets a certain number of free spins or payout multipliers at their disposal. As a rule, bonus deposits and free spins are available when funds are credited to an account or after registration is complete.
Cryptos are kept in specific wallets. The principle of their work is similar to electronic ones. The number of crypto wallets is also significant. You may pick up Blockchain, Copay, Paxful, Guarda and Coinfy.
To make a cryptocurrency transfer:
The advantage of using cryptocurrency in betting systems is the speed of withdrawal from your gaming account, and in most cases, there are no withdrawal limits.
The withdrawal process is identical to making a deposit, but you should remember that you need to verify your account to make a withdrawal.
Blockchain is also called distributed ledger technology because many independent users store the whole chain of transactions and the actual list of owners on their computers. Even if one or more computers fail, the information is not lost.
How blockchain works:
When you buy the coin you want, you need somewhere to store it. A place to keep your cryptocurrency is called a cryptocurrency wallet. You can use wallets of three different kinds.
This service was founded in 2012 in San Francisco, USA. At first, it only provided a wallet, but it was used as the base for a cryptocurrency exchange for professionals over time. More than 10 million registered clients are now on the trading platform.
Electrum is a light cryptocurrency wallet that supports most modern platforms: Windows, macOS, Linux, and Android. The wallet has been on the market since 2011 and supports 10% of all Bitcoin transactions. In addition, it is one of the most time-proven and reliable hot wallets for storing BTC.
Edge is a mobile wallet for Android and iOS devices created by the former Airbitz team, released in February 2018. The wallet supports receiving, sending, storing, and exchanging different cryptocurrencies and ERC20 tokens. Starting with the BTC wallet and trading database, they have since grown to create a wallet that supports multiple currencies, including Bitcoin (BTC), Ethereum (ETH), Dash (Dash) and Litecoin (LTC).
The short answer is yes, Australian crypto casinos are safe to play at. However, the legal position of cryptocurrencies in the country should be considered. In case of any disputable situations, you will have to agree with the casino on your own.
Yes and no. Crypto-casinos are not legally regulated yet.
No. All cryptocurrency casinos in Australia are not regulated.
You don’t need a hardware wallet to buy, store or send cryptocurrency. But hardware wallets can significantly increase security by reducing the risk of stolen funds.
No, many online slots and table games don’t allow Crypto yet. However, you may contact customer support for a list of games that support this payment method.
Usually, the minimum deposit is 10 AUD. However, the amount varies depending on the chosen cryptocurrency and casino rules.