Gambling is a past-time that everyone enjoys to some extent – whether it be simple card games with friends or placing bets on the latest sporting events. An entirely new phenomenon has emerged in recent years: cryptocurrency casinos. Some may argue that playing at these casinos is just as valid as going to a regular casino in Las Vegas. The only difference, perhaps, is that instead of using dollars and euros as currency, you’re now using crypto tokens. What is a Cryptocurrency Casino? A cryptocurrency casino is, as the name suggests, a place where you can gamble using cryptocurrencies. Now, let us take a further and deeper look at it.
What is a Cryptocurrency Casino / Cryptocasino?
A cryptocurrency casino is, in short, a normal online casino (or brick-and-mortar one) that uses crypto coins instead of the usual fiat money. It’s a trend that has spread in the last five years and is rapidly becoming more popular, especially among those who invest heavily in crypto coins. There are many crypto casinos that exist, so it’s hard to say for sure which is the best one.
Each has its own pros and cons, and it’s up to you to choose the one that will match your style and keep you entertained for a long time. Some advantages of crypto gambling are the very low fees, bigger bonuses, and faster payouts. Plus, you can use your own coins instead of fiat money.
Using crypto coins is becoming more and more popular, so it’s not hard to see why crypto gambling is everywhere. You don’t have to worry about banks and other financial institutions refusing to transfer money to you, crypto casinos are already accepting Bitcoins and other digital coins.
The Pros and Cons of Using Cryptocurrency
Cryptocurrency has some advantages that make it an ideal payment method for online gambling. Here are the main ones:
Advantages of Using Cryptocurrency in Online Casino
FEWER FEES – Bitcoin casinos don’t charge you plenty of transaction fees, so both your deposits and withdrawals are cheaper than if you were using MYR, USD, EUR, or GBP.
INSTANT PAYMENTS – With crypto casinos, you don’t have to wait a long time for your transactions to be confirmed. In fact, most digital coins have been designed for instant payments.
MORE SECURE – Use a crypto-friendly online casino and don’t worry about your information being stolen. The cryptography behind digital currencies is much more secure than any online casino software.
Disadvantages of Using Cryptocurrency in Online Casino
At the same time, there are also drawbacks to using cryptocurrencies in online gambling. Let’s find out.
FREQUENT CRYPTOCURRENCY VALUE FLUCTUATIONS – Crypto casinos have to adjust their currency rates daily to mirror the fluctuations of digital currencies. Also, as players, you will have to take note of the value of your coins as they might depreciate the next day.
LIMITED GAMES – Cryptocurrency casinos still have limited game offerings, and, in many cases, users are unable to use fiat currencies as well.
LOW PLAYER BASE – There are not too many players that use crypto casinos in comparison to fiat casinos. This means that playing online casino games such as Poker might result in playing with the same players every time.
How To Deposit or Withdraw from Cryptocasino?
You can deposit or withdraw from a crypto casino in a number of ways:
Through Cryptocurrency Exchanges
Most of the crypto casinos accept deposits in a number of cryptocurrencies including Ethereum, Monero, Bitcoin, Litecoin, Ripple, Dogecoin etc through exchanges such as CoinBase, Binance, and CEX.IO. Binance is the best exchange to use for Asian players to buy Bitcoin and other cryptocurrencies. Binance even has a free $ 10 in free Bitcoin offer for you! Deposit your funds to EXCHANGES like Binance or CoinBase and then transfer the funds to your casino account.
Through Cryptocurrency Wallets
Certain casinos accept the likes of Bitcoin and Ethereum to deposit directly into their casino accounts. Deposit directly into your casino account through your crypto wallet. How to deposit with cryptocurrency: Download and install a cryptocurrency wallet (CoinBase, Binance, CEX.IO, etc.) and purchase your favourite cryptocurrency. Once you have purchased your desired cryptocurrency, open your wallet, and click “send”.
Through Encrypted Wallets
If you purchase your cryptocurrency through a wallet that is encrypted, such as myetherwallet.com or ledgerwallet.com, you can deposit directly into your casino account by pasting the address of your crypto wallet into the wallet section of the cashier. The casino will accept your deposit automatically. If you are experiencing any issues at all depositing into your online gaming account, please contact support directly and they will assist you in every way.
Which Online Casino Malaysia Accepts Cryptocurrency?
As of this moment, LPBet, Biga88, and me88 accept Bitcoin. These online casinos have the most desirable bonuses, and they also accept other cryptocurrencies, such as Litecoin, Ethereum and USDt. Out of the mentioned online casinos, you may like to try out our platform, me88, as we are the only one of above that provides instant funds transaction that requires only seconds to transfer your funds from cryptocurrency wallet to the gaming wallet, vice-versa.
Also, me88 allows all players to transfer their cryptocurrencies into me88 gaming wallets and enjoy all of our online casino games. Therefore, you would not have to worry about limited choices of online betting options.
Cryptocasino is definitely the way all online casinos in the world have to head to. In this case, me88 Malaysia has proven to be one of the head starters in the online gambling industry.
To conclude the above, me88 is definitely the future of online casinos in Malaysia, and we believe that we are very close to going completely cashless in our gambling industry. Yes, this is a potential game-changer for online gambling, and we are very excited to be a part of it.
We will keep you guys updated with any information regarding our progress and we are always welcome your feedback. We hope you guys will take the initiative to try out our me88 online casino platform!