Crypto Casinos are a type of casino in Australia that allow gamblers to play casino games by waging cryptocurrencies like Bitcoin or Ethereum instead of Australian Dollars. Winning is a paid-out in cryptocurrencies. If you stake bitcoin and win, you get paid in bitcoin.
In recent years, many Internet casinos have been shifting to cryptocurrencies as a payment method. They are mainly shifting because crypto has started to be widely adopted and the heavy restrictions governments put in place.
Scam companies looking to steal from unsuspecting Australians have heavily infiltrated the crypto casino industry.
You need to choose crypto casinos carefully or trust the professionals, such as BetPokies.com
Crypto Casinos’ terms, conditions, and requirements are generally like those of real money online casinos.
How To Access Crypto Casinos
To get started with playing Crypto Casinos, you’ll have to follow this simple process:
Create Wallet to Store Your Cryptocurrencies
Some companies offer these services. The most secured ones available in Australia are:
- CoinSpot
- Enjin
- Exodus
Buy Cryptocurrency
To buy crypto, you will need to use your Australian Dollars, using a debit card or credit card. You can purchase crypto on platforms like:
- Binance
- eToro
- com
- Coinbase
Select a Safe Crypto Casino
When you’re contemplating choosing the right casino, there are a few things to keep in mind:
- the reputation of the platform
- the variety of games
- availability of promotions and bonuses
- the variety of payment methods
- ease of use
Choosing a cryptocasino largely determines whether or not you get a good experience from the game. Therefore, the choice should be based on specific indicators, and the platform, should meet all the requirements.
Final Step: Deposit Your Cryptocurrencies and Start Playing
The process of making a deposit:
- At the selected online casino, go to the cashier options page.
- Select Deposit and the desired cryptocurrency you want to use.
- Copy the blockchain address that is unique to your account.
- Open your BTC wallet and select the desired amount.
- Paste the address of the casino in the Send To section and click send. The money should arrive in your casino account within minutes.
How to play? You can play just as you would with traditional currencies. It doesn’t take long to make a deposit, and the process itself is very simple – you just need to open your cryptocurrency wallet and make a payment.
But there is one thing to keep in mind: the value of cryptocurrencies is constantly fluctuating, even during the day, so you need to constantly monitor these changes, in order not to lose a significant amount of money.
Crypto Casinos: Regulations and Licences
Like other real money Internet casinos, no government or independent agency regulates and licenses Internet casinos in Australia.
Aussies will have to depend on licenses offered by agencies from other countries. They’re two types of crypto casinos.
- Regulated Crypto Casinos – They are a type of casinos that have been licensed and claim they are regulated. The licenses are mostly shady and hard to verify.
- Anonymous Casino – They are entirely unregulated and promise privacy to gamblers. They don’t follow any KYC procedures. They won’t ask for any of your information. It is very hard to verify how safe and fair they are. Companies offering Anonymous casinos are also hard to prove; their headquarters are in offshore countries or territories, e.g., The Isle Of Man.
You can find a good crypto casino that aligns with your needs with thorough research. Before you get started with crypto casino games, you should ask yourself:
- Is the casino licensed?
- How secure are their encryption software?
- How easily and safely can you deposit or withdraw your money?
- How fair are their gaming systems? Do you stand any chance of winning?
Most answers can be found by reading reviews about the casino and asking for people’s opinions on gambling communities. Look for reviews from real users, not Internet influencers, as they get paid to advertise and give only positive reviews about those casinos.
Due to their risky nature, many crypto casinos get blocked by the Federal government in Australia from providing their services to Aussies. Gamblers can, however, bypass the blockade by using a VPN.
Advantages and Disadvantages of Crypto Casinos
You can’t honestly know the value or lack thereof of a product without weighing its pros and cons. Here are some of the Pros and Cons of Crypto Casinos that you should be aware of and will help you make a decision and avoid losses:
Pros:
- Provides Privacy – No strict KYC process.
- No government oversight.
- No Limits on how much you can gamble.
- Fast transactions since there is no bank oversight to approve transactions.
- Bigger bonuses Compared to other Internet casinos
- Accessible to everyone since cryptos are borderless currencies.
- No taxes on stakes and winnings
Cons:
- No transparency; No way to tell how secure and safe the casino software is. And how fair they’re
- Crypto value is volatile
- Fewer casino games compared to real money Internet casinos
- With no regulations, the industry is open to scammers
- Cyber Security issues: Hackers can access your wallet to steal your crypto.
Are Crypto Casino Safe or Scam?
With 1000s of crypto casinos around, finding a legitimate one is a hustle. Here’s how you can differentiate a safe casino from one that is a scam in Australia.
- Scam casinos have unplayable games, or the games are of very low quality.
- Scam casinos ask for very small deposits and promise ridiculously large bonuses.
- Scam crypto casinos lack a customer care team. They don’t respond to questions and rarely solve any issues their customers face.
- Safe crypto casinos are registered and have legitimate licenses, and you can confirm their authenticity.
- Safe casinos are established, unlike scam casinos that are barely one year old.
- Legit casinos are audited by independent gaming labs and have legitimate seals of approval.
Conclusion
There are many scams everywhere, including in the crypto gambling industry. To be safe, you should always exercise the highest level of caution before joining any online casino – whether, traditional online casino or crypto online casino.
For starters, always ensure you play at a licenced and well regulated casino. Doing a little homework before settling on an online casino can save you a lot of heartache.
