Cryptocurrencies in online casinos
In recent years, cryptocurrencies have become part of our daily lives, including in the world of online casinos. Currently, they are one of the most used payment types due to their speed and security. Stay with us and find out which are the best crypto casinos on the market.
The best cryptocurrency casinos in 2023
Although crypto casinos are not licensed in New Zealand, you can find several casinos that offer these payments licensed by other reputable entities such as the United Kingdom Gambling Commission or the Malta Gaming Commission.
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Some New Zealand banks offer guides on cryptocurrencies. You can consult tips or get information on how to buy these digital assets.
Source: Cryptocurrencies |
How do we choose the best cryptocurrency casinos?
In order for us to make known the best crypto casino, we have created a rigorous analysis method that evaluates the most important aspects that these casinos must have:
We check the number of accepted cryptocurrencies
With thousands of cryptocurrencies available on the market, it is important that ... casinos in New Zealand accept as many virtual currencies as possible. For this reason, we only recommend casinos that accept the most popular cryptocurrencies.
We check the casino wagering requirements
The wagering requirements indicate the number of times you must wager the total amount of your bonus before I could get him up. For example, if you received a $100 bonus with a 15x wagering requirement, you will have to wager a total of $1,500 to be able to withdraw your winnings. Fortunately, crypto casinos have fairer wagering requirements than other types of casino.
We check the withdrawal fees
Sometimes withdrawals have fees associated with them, depending on the payment method used. We always check if crypto casinos have withdrawal fees and what their value is.
We analyze the licenses and security of the casino
Gaming licenses serve to ensure the security, privacy and fairness of online casinos. By playing at a licensed casino, you will be assured that your information is kept safe and that the games are fair. Licensed crypto casinos are highly reliable due to the security of this type of payment.
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Did you know that?
New Zealand is one of the only countries where cryptocurrencies are not regulated. This means that their purchase and sale is not subject to any tax. Source: Cryptocurrencies |
What are cryptocurrencies?
Cryptocurrencies are digital currencies that work through a decentralized network-the blockchain. This network uses multiple computers to accept and record transactions, making them impossible to manipulate or forge. The result is a high-security network that can be adapted to various scenarios, such as online casinos.
What is considered a crypto casino?
As the name implies, a crypto casino is an online gambling platform where players can bet using cryptocurrencies. When using this payment method, all transactions are recorded on the blockchain, which makes them highly secure and impossible to manipulate. Some of the most common currencies in crypto casinos include Bitcoin , Ethereum, Tether, Ripple, Cardano, Tron, Dogecoin, Litecoin, Polygon, Bitcoin Cash, and Dash.
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Bitcoin is the cryptocurrency with the largest market capitalization, currently at $544 billion. For this reason it is often considered the next digital gold.
Source: Cryptocurrencies |
How to use cryptocurrencies in online casinos?
Despite its complicated mechanism of operation, using cryptocurrencies in online casinos is quite simple. It is one of the fastest payment types, so you will be ready to bet at a crypto casino in just a few minutes.
Are there deposit or withdrawal fees at crypto casinos?
This question depends on the chosen casino. But generally speaking, there are no fees for deposits or withdrawals at crypto casinos, so you have nothing to worry about.
How to make a deposit and withdraw your earnings with cryptocurrencies?
Making a deposit with cryptocurrencies is very easy:
- Buy cryptocurrencies at a broker.
- Transfer the cryptocurrencies to your personal wallet or leave them in the broker's wallet.
- Go to your crypto casino and click on "deposit".
- Choose the desired payment method and copy the address.
- Transfer the deposit amount from your wallet to the casino.
When it comes to withdrawals, these are also very simple:
- Log in to your crypto casino account and click on “withdrawal”.
- Enter the withdrawal amount and your wallet address.
- Click "Confirm".
In just a few minutes, cryptocurrencies will be available in your wallet.
Solutions to common problems when using cryptocurrencies in online casinos
Although safe and reliable, sometimes some problems can occur when using cryptocurrencies at crypto casinos in New Zealand. Check out some of the most common errors and how to solve them:
- I can't withdraw my winnings.
- Confirm that your wallet address is correct and that crypto casino accepts payments in your chosen currency.
- I didn't get my money
- Sometimes the blockchain may be overloaded, which causes some delays in payments. Wait a few hours and try again.
- I can't change my account details.
- If you are unable to change your account details, such as your address, you should contact customer support and request to change your details manually.
- I can't make a deposit.
- Confirm that the cryptocurrency you want to deposit is accepted by the casino. If so, make sure you entered the wallet address correctly.
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Ripple (XRP) is one of the fastest cryptocurrencies as it uses a network of servers to authorize transactions. Thanks to its speed, it is used by financial institutions in more than 50 countries and is a favorite of crypto casino bettors.
Source: Cryptocurrencies |
Advantages and disadvantages of using cryptocurrencies in online casinos
Cryptocurrencies are becoming one of the preferred payment methods of online casino players, being highly advantageous. However, they have some disadvantages that most users do not consider. Learn more:
| Advantage | Disadvantage |
|---|---|
| Transfer speed higher than common payment methods | Cryptocurrencies are highly volatile, which means their value is constantly changing |
| Cryptocurrency earnings are not taxable | Cryptocurrency payments are not traceable, so you should be extra careful |
| Low transaction fees compared to other payment methods | They are not available at all online casinos and are not yet accepted by licensed online casinos in New Zealand |
| Transparency as all transactions can be checked on the blockchain | Unlike other payment methods, returns must be accepted by the entity that received the money |
| Privacy, since your wallet is only identified by a unique code | |
| Prevents inflation due to its maximum emission limit and predictable growth |
Cryptocurrencies vs. other payment methods
See how the main features of cryptocurrencies compare to other common payment methods such as Mastercard or Aim in New Zealand. As you can see, payments at crypto casinos are 100% private, transparent and free of taxes and fees. For this reason, they are increasingly popular.
| Feature | Cryptocurrencies | MasterCard | AIM | MBWay | PayPal |
|---|---|---|---|---|---|
| Snapshot | ✔ | ✔ | ✔ | ✔ | ✔ |
| Total privacy | ✔ | ✖ | ✖ | ✖ | ✖ |
| Duty and tax free | ✔ | It depends | It depends | It depends | It depends |
| Transparency | ✔ | ✖ | ✖ | ✖ | ✖ |
| Encryption | ✔ | ✔ | ✔ | ✔ | ✔ |
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No one knows who created Bitcoin. The term was first introduced in 2009 on a forum by an unknown programmer under the pseudonym Satoshi Nakamoto.
Source: Cryptocurrencies |
Conclusion
Crypto casinos are here to stay and it's only a matter of time until the first crypto casino in New Zealand emerges. They are one of the payment methods that bring more advantages due to their security and privacy, especially when used by licensed casinos. All transactions made with cryptocurrencies can be verified through the blockchain, which means high transparency and fair games.