Unless you’ve been living under a rock, you’ve surely heard a thing or two about cryptocurrencies. The decentralized market is gaining momentum, with everyone likely to invest a bit in Bitcoin or other cryptos. Cryptocurrencies are invading all aspects of our lives, spreading to industries such as online gambling, not just finance. While some players and casinos are still against the idea, it’s getting clear that cryptos are the future of finance.
If you’re new to cryptocurrencies but you’ve never used them in online casinos, our guide is here to help. We’ll help you understand why they’re a better choice than alternative options and why you need to give them a try.
We’ll also let you know more about one of the top Bitcoin casinos on the market – Riobet. Register at the crypto gaming site now and you’ll be playing slots and casino games with Bitcoin before you know it.
Why Should I Use Cryptocurrencies in Online Casino Gambling Venues?
We all know how traditional currencies work. They are run by the government and financial organizations, with a current central body overseeing their performance and activity. Cryptocurrencies are the exact opposite. They’re governed and controlled by the community instead of a bank. That’s the definition of decentralized finance, and it’s all run on the blockchain.
The blockchain is an exciting piece of technology that may end up transforming the world as we know it. It offers numerous advantages over current tech, especially when it comes to online gambling. All transactions are recorded on the blockchain, yet they’re all anonymous. Privacy is the main reason why cryptos are better than other payment methods, allowing players to make deposits at sites such as Riobet without sharing their financial details.
Players obviously love the fact that they can play anonymously – that’s one of the many strengths of cryptos. Cryptos are also way faster than credit/debit cards, bank transfers, and even e-wallets. That’s a major ace in their sleeve, which is why Bitcoin casinos such as Riobet are so popular.
Plus, you don’t have to worry about missing out on bonus offers. Riobet casino, for example, has plenty of bonuses and promos for crypto players. Get one such bonus, play it through, and you’ll be able to withdraw your winnings using your favorite crypto as fast as lightning.
Are There Any Cons to Using Cryptocurrencies at Online Casinos?
In general, there are no big cons of using cryptocurrencies at Riobet or any other crypto casino. Well, there are a few, but those are negligible.
First, the most obvious drawback is volatility. If you’ve ever invested in Bitcoin or other cryptos, you know that. The price can go up and down quickly – even if Bitcoin hits a record price overnight, it could be down to the lowest low in the morning. Such daily fluctuations and impossible value predictions are the reason why most players are against cryptocurrencies.
Another problem is that these transactions are irreversible. As soon as they’re recorded on the blockchain, there’s no way to alter them.
When it comes to crypto casinos, the most obvious problem is that not all of them accept a variety of cryptos. Most casinos such as Riobet will accept Bitcoin, Litecoin, and Ethereum, but rarely any other coin. This isn’t a problem for Bitcoin investors – the biggest cryptocurrency is the main star in every Bitcoin casino.
Are There Fees for Banking With Cryptocurrencies at Riobet?
Deposits and withdrawals in crypto casinos sometimes come at a fee. Some are tiny, others are big. The good news is that Riobet charges no transaction fees. However, third parties such as banks might, and that is a problem for some players.
With cryptocurrencies, there are only tiny fees for the transfer that goes to the blockchain. Those are tiny enough to be ignored, so you don’t have to worry about that. The most important part is that when you deposit or withdraw in Riobet casino, the fees won’t end up in its hands. Make sure to check the limits and fees before you decide which cryptocurrency you want to use.
Does Gambling With Crypto Mean Higher Wagering Requirements?
No, it doesn’t. The best cryptocurrency casinos such as Riobet will keep the wagering and terms on crypto bonuses fair and reasonable. That’s why you always need to check the T&Cs of the casinos you play at. If you choose a reputable one such as Riobet, you don’t need to worry about getting ripped off.
Can I Get Crypto Bonuses?
Yes, you can, and they’re pretty big. Crypto bonuses are specifically aimed at crypto players. These are usually massive – check out Riobet casino’s promotions lobby and you’ll surely find one to like.
Just make the minimum required deposit with your crypto of choice and you’ll have extra tokens to play with.
What Are Bitcoin Bonuses at Online Casino Venues?
The Bitcoin bonus is a special type of bonus handed out by online casinos such as Riobet. The most common such bonus you’ll come across is the welcome offer. Triggered by a minimum deposit (usually in mBTC), these bonuses typically match your first deposit in full.
And that’s just the beginning. Riobet and other crypto casinos will follow up on the welcome offer with regular deposit bonuses and possibly no deposit bonus offers too. Free spins are part of the action as well. All these offers will be subject to rules and wagering requirements and unless you complete the latter, you won’t be able to keep what you win with a bonus.
How Do I Find Bitcoin Bonuses at Online Casinos?
That’s easy. Let’s see an example in Riobet casino – head to the Bonuses page and you’ll find a few of the options on offer. There’s a 15 free spins bonus on registration as well as a 100% first deposit offer. Those are clearly highlighted and the terms are available right underneath, so you shouldn’t have trouble to claim them.
Most Bitcoin bonuses at Riobet will give you extra Bitcoins to play with, while others will give you free spins too.
Are There Any Restrictions While Using Cryptocurrencies?
There are no restrictions when using cryptocurrencies at gambling sites such as Riobet. What you need to be aware about are the limits. Every casino sets them on their own. For example, Riobet has the minimum deposit and withdrawal for Bitcoin set at 1 mBTC or 5 mETH for Ethereum.
The withdrawal limits are determined by your VIP status. As a new player, you can withdraw up to $1,000 (or cryptocurrency equivalent) per day in Riobet casino.
How Can I Make Bitcoin Transactions?
Making Bitcoin deposits couldn’t be easier. Simply choose the cryptocurrency from the list of options at Riobet casino and enter the desired amount. That’s it. The coins should be instantly available at your disposal.
Before this happens, you will need to load up your preferred Bitcoin wallet with coins. Connect it to the site (usually through a QR code) and you can easily make transactions. If you’re not sure what to do, read the FAQ guide – there should be a handy deposit guide in it.
Or talk to Riobet’s customer support agents – they’ll be more than happy to help.
Can I Withdraw Bitcoins at Online Casinos?
Yes, you can make a withdrawal using Bitcoin. It’s one of the preferred options in Riobet casino thanks to its incredible speed. Keep in mind that you can only make withdrawals using the option you’ve deposited with before.
Withdrawals in Riobet casino are processed in up to 24 hours. Other casinos might offer speedier or slower withdrawals.
What Else Can I Use if I Don’t Own Cryptocurrencies?
If you don’t own cryptocurrencies, you should think about investing. If you don’t see yourself in the world of DeFi, you should seek other alternatives.
There are plenty of options available for use in Riobet casino. Those include Visa, Mastercard, bank transfer, Yandex, and a slew of e-wallets including Skrill and Neteller.
Is Using Cryptocurrencies While Gambling Legal?
The legal status of gambling online doesn’t depend on the fact if you’re using cryptos or not. Every country in Europe sets laws and crypto regulations on its own. If cryptos are illegal in yours, you will have trouble withdrawing them from any crypto casino.
However, when it comes to games in Riobet casino, you can play them with Bitcoin and other cryptos without a worry on your mind.
Have Fun Playing on Bitcoin Gambling Sites
Cryptocurrencies are, without a doubt, the future of online gambling and finance. They’re fast, anonymous, cheaper to use, and more secure than any other payment option. If you’re looking to join Riobet or another crypto casino, switching to cryptocurrencies is a no brainer.
Riobet is one of the top crypto gambling sites in the business. It has a great collection of bonuses paired with hundreds of games from leading providers. If you’re looking for a reputable crypto casino with all the right elements, we can easily recommend joining Riobet right now.