As crypto usage grows, more and more casino gamblers are choosing to deposit money in their casino accounts and withdraw their winnings with cryptocurrency. SlotoCash offers multiple crypto ebanking options. Thanks to the casino's crypto promotions and the general advantages of crypto transactions, increasing numbers of real money gamblers are turning to cybercurrency for their gambling needs.

There are protocols for conducting any type of online banking activity when you play real money games online, but there are some special practices for crypto users that allow them to enjoy a more rewarding gambling adventure. Learn about the suggestions for how to conduct your financial activities with crypto at the online casino and enjoy a more fruitful gambling experience.

Cryptocurrency

Bitcoin was the first cybercurrency to be introduced to the world financial market in 2009 as a peer-to-peer electronic cash system. Within a short amount of time, new cryptocurrencies appeared, each with its own specific mode of operation.

All cryptocurrencies are secured by cryptography, which makes them nearly impossible to counterfeit or double-spend. Unlike traditional currencies (i.e. the US dollar, British Pound, Euro, etc), which are issued and controlled by a central authority (i.e. a bank or government), cryptocurrencies operate on a decentralized network.

Crypto currencies operate through a digital, public, and shared ledger called a "blockchain." The blockchain is distributed across a vast network of computers. Every transaction is verified by this network of computers and recorded in a "block." Once a block is verified, it is added to the chain in a permanent, unchangeable sequence. This makes the entire history of transactions transparent and tamper-proof.

There is no single central authority to control the money supply or censor transactions with the digital currencies. Cryptography ensures that only the rightful owner can access their funds and that transactions are secure. Transactions are not connected to a person's name or identity, which ensures anonymity and privacy. Once a cryptocurrency transaction is sent and confirmed on the blockchain, it cannot be reversed.

Casino Crypto Currencies

While all cryptocurrencies share the core principles of using cryptography and a decentralized blockchain, they differ significantly in their fundamental design, purpose, and technology. For instance, Bitcoin and Litecoin are considered to be highly secure but not as fast or efficient as other cryptos. Ethereum is more than a cryptocurrency – it involves native tokens of a larger network that is connected to a large range of decentralized applications.

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Using Crypto at the Online Casino

If you've decided to use crypto for your casino deposits and withdrawals, you can adopt specialized practices for casino transactions that account for the unique nature of crypto. Casino observers make the following suggestions:

  1. Choose the right cryptocurrency. Different cryptos offer different advantages and disadvantages. If you're looking for fast and cheap transactions, consider using Litecoin, which has low network fees and quick confirmation times. If you're concerned about security and/or privacy, check out Bitcoin, which is viewed as the most secure and decentralized cryptocurrency network. For gamers who are considering using their crypto winnings for further lending, borrowing, and trading, Ethereum is a good choice because it offers applications for decentralized finance.
  2. Remember that cryptocurrency transactions are irreversible. If you send funds to the wrong wallet address, you can't retrieve them. Always copy and paste the address of the casino's ewallet to send your deposits and of your own ewallet to collect your winnings. Then, double-check the wallet address – or at least the first and last few characters of the address – to ensure that they are correct.
  3. Check the network fees. As with other forms of online banking, there are fees associated with transactions. In this case, the fees are charged by the blockchain network and are generally significantly lower than those charged by other ebanking institutions, including credit and debit card services, evoucher cards and wire transfer services.
  4. Start with a small test deposit for your first casino deposit with crypto. In this way, you can verify that the process is working correctly. You can then go on to make larger deposits.
  5. Withdraw your funds to a private wallet over which you have full control (i.e. a hardware or software wallet on your own device). Avoid withdrawing directly to an exchange. This may complicate your ability to access your funds. Don't leave large amounts of crypto in your casino account.

Maximizing Your Crypto Transactions

SlotoCash gives you multiple opportunities to maximize your crypto transactions with special crypto casino bonuses. SlotoCash offers crypto transactions with your choice of any of the most popular blockains including Bitcoin, Bitcoin Cash, Bitcoin Lightning, Litecoin or Ethereum .

Regardless of your preferred crypto, you can collect a monthly 25% cashback on all crypto deposits that you bet during the previous month.

If you're making transactions with Bitcoin Lightning, you can claim a $50 Sunday token every Sunday. Just submit the CRYPTO50SUNDAY deposit code with a deposit of $25 or more via the Bitcoin Lightning network and on the following Sunday, you'll be awarded a bonus gift valued at up to $500 in casino cash! Bitcoin Lightning Network customers can also collect match credits of 100%  with the CRYPTOBOOM-1 promo code or $100 in free casino cash with the CRYPTOBOOM-2 coupon code.

The CRYPTOETHER-1 promo code gives Ethereum depositors a bonus of 100% in match credits plus $25 in free casino cash.

The regularly-scheduled Sloto Crypto Zone Freeroll tournaments are open to crypto users every Monday. These free entry tournaments feature a $500 Crypto freeroll.

Get the most out of your casino gaming adventure when you deposit with crypto!

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