Is Gambling with Cryptocurrency Legal?
Just like a tornado on a bright sunny day, cryptocurrency has taken the world by storm in recent years. People across the globe have been choosing cryptocurrencies even more, with many also paying in Bitcoins for their everyday needs. These needs also include gambling, as many cryptocurrencies have been added to gambling payment options, thus making it possible for you to use crypto to wager on casino games or at sports betting sites not on Gamestop.
With so many cryptocurrencies to choose from, bitcoin has been at the forefront of the gambling scene, making it possible to use at most gambling sites that offer Blockchain payments. Today you can visit bookmaker review sites and search for ‘Bitcoin casinos’. If you want to play free, easily, and without lagging, crypto casinos are the best place for you!
What is cryptocurrency gambling at gambling sites?
Crypto gambling sites are sites that accept payment in cryptocurrency for both your deposit and payments. Whilst at your traditional gambling sites, e-wallets such as Skrill, Neteller, Neosurf, Paypal, Sofort, etc., are your typical way to fund your play, at crypto sites, your play is all funded by cryptocurrencies.
The good news is that using cryptocurrencies as your primary way to fund your gambling comes with many advantages, some of which you will not find at any other casinos. Some of the benefits include:
Better Security - Since cryptocurrencies use Blockchain technologies, payments from your player account to the gambling site are untraceable, making it impossible for third parties to get hold of your fund or your player data.
Quicker Transactions - Whilst some e-wallet transfers are immediate, other payment methods could take 5-7 days to complete, and some charges could also apply. Using cryptocurrencies is quite different, with transactions being 100% immediate, with no hidden fees imposed by the casino or the currency. What you win is what you get at crypto gambling sites.
Staying Anonymous - With gambling being everywhere and with handling payments online, you crave to protect your identity even more. Registering, depositing and playing at crypto gambling sites is 100% anonymous, where you will not be asked for any personal details upon registering at the gambling site for the first time. Your personal data and transactions via cryptocurrencies will hold no links, but all your winnings will reach you in a split second.
Faster Gaming - With fewer payment methods integrated into crypto gambling sites, all your payments are made in Bitcoins. This means that playing at the crypto casino will be a fast-paced experience with less loading and waiting times to get your hands on your favourite casino games.
Exclusive Games - If you opt to register and play at cryptocurrency casinos, you will enjoy the exclusive games that such sites offer. Head over to the casino lobby, and check out exclusive content only found at crypto casinos.
Is cryptocurrency gambling legal?
Many punters wonder if gambling with cryptocurrencies is legal. The answer is yes or no, and it depends on the country you are gambling from, as various countries across the globe offer multiple stances on cryptocurrencies. Regarding legality, if you search worldwide (excluding the countries banning cryptocurrencies outright), you will not find detailed answers on crypto usage. The topic is still a grey area for many countries, with no particular tax or financial laws being imposed. Some countries have taken steps to legalise cryptocurrencies, while others feel the need to ban them, still associating them with illicit operations on the Dark Web.
If you want to play at cryptocurrency gambling sites, look away from sites that host either an MGA or a UKGC license, as both ban the usage on their respective regulated sites. You can start your search by visiting Bitcoin Bookmaker review sites and gambling sites that host a Curacao gambling license. If you are playing from a country where cryptocurrencies are not frowned upon, then gambling with the currency is 100% legal and legit.
How to start playing at cryptocurrency casinos
Now that you know that playing at cryptocurrency gambling sites is 100% legal, how about testing a site for yourself to see what all the fuss is about? Before that, there are some steps you need to take, so let’s guide you on what you need to do if you want to partake in cryptocurrency online gambling.
Choosing the currency of your choice - Whilst there are many cryptocurrencies that you could use for your gambling playtime, Bitcoin is one of the most used. You can opt for Ethereum also; however, you will find many ‘Bitcoin casinos’ with a great reputation that are ready to take your wagers.
Opening your crypto e-wallet - Once you settle on a currency, visit the currency’s site and open your e-wallet. It is only a 2-minute process and quite straightforward. When your wallet is open, you can deposit funds into your account and start enjoying the currency.
Find your crypto gambling site - Head over to bookmaker and casino review sites, compare sites and find the best site for you to register and play. Check that the site is legal and licensed, and never overlook any good or bad comments from other players who have used the site before.
Deposit and Play - After your anonymous registration, you can click on the cashier or the deposit icon at the betting site and click on your currency of choice from the drop-down menu. Transactions carried out in cryptocurrencies are executed immediately; hence you can start playing in less than 5 mins from landing at the gambling site of your choice.
The Future of cryptocurrencies in the gambling niche
As we continue to see the online gambling market flourish, new technology and enhancements make their way to our favourite gambling sites. Whilst only Bitcoin was the main sponsor of your crypto gambling, today, you can use more Blockchain currencies that are fully integrated to go hand in hand with your playtime. The perks of using cryptocurrencies for gambling are never-ending, but the cons are none.
Cryptocurrencies are becoming the norm in our lives. We pay, we play, and we win in crypto. Welcome to your gambling future, dear punter!
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