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Crypto offers freedoms that traditional payment methods do not. Here we have made a comprehensive guide for all things crypto at online casinos.
The use of cryptocurrencies has had spectacular growth in recent years, driven by the increasing interest in crypto investments. Cryptocurrencies such as Bitcoin and Ethereum have gone from being only available as a trading stock to being used in all types of services in our daily lives, such as online payments, mortgage payments, shops, and many more, thanks to their advantages such as anonymity, security, and lightning-fast payments. Thus, they are being incorporated in many business activities nowadays, such as the online gambling industry.
If you are new to the crypto industry, don’t worry. CasinoColada is here to give you all of the important information on how to enter the virtual currency world. Learn how to get started, how to buy, and how to play using Bitcoin, Ethereum, and Litecoin.
It is considered that the history of cryptocurrencies began in 2008, in the midst of the global crisis. In October of that year, a user identified as Satoshi Nakamoto (it is not really known if it is the pseudonym of a real person or of a team, community, or organisation) published a technical article explaining the fundamentals and operation of the Bitcoin, which gave the start of the cryptocurrency industry. Today there are hundreds of different virtual currencies used both as financial investments and to buy and sell goods and services over the internet.
There are different ways to start trading with cryptocurrencies depending on the type of operations we want to carry out. The most common ways to get started are the cryptocurrency exchanges like Binance, which are platforms where we can buy, sell and trade cryptocurrencies. To do that you also have to open a digital wallet. There are a large number of these types of platforms with different options, but they are all based on the acquisition of the asset. The most popular platforms where you can open a crypto wallet are Coinbase, Atomic and Exodus.
When starting with cryptocurrencies, first of all, you have to take into account the risks of cryptocurrencies that can be associated with this type of investment. It is very important to know what you are going to invest in and therefore to know the advantages and risks that you are taking. You should start with more well-known digital currencies such as Bitcoin and Ethereum. As volatile as the market is, these two assets are the strongest in the market. Also, don’t forget to only invest the money that you are willing to lose and do not need in the short term. In addition, it is recommended to invest little at the beginning and to familiarise yourself with the market. The key here is in the long term, so have a vision for the future.
Wondering which cryptocurrency to start with? Here are the most popular digital coins at the moment:
Bitcoin, the cryptocurrency with the highest market value, gave rise to the creation of thousands of virtual cryptocurrencies. The cryptocurrency was born in the middle of the financial crisis between 2008 and 2009. Today the market value of Bitcoin is in the thousands, and it is more popular than ever.
Ethereum is the second-largest cryptocurrency on the market. Like bitcoin, this virtual asset runs on decentralized, open-source software. The price of this digital cryptocurrency has sky-rocketed in recent years, with the value of one coin today reaching a few thousand.
Tether is a virtual asset that has gained popularity for its stability. Having a parity of almost 1 to 1 with the dollar, it is considered a stable coin. For this reason, this cryptocurrency accumulates a market value of almost 78,000 million dollars. However, one of the big differences with other cryptocurrencies is that Tether does not run through a decentralised blockchain. In fact, these virtual assets are generated on other blockchains such as Ethereum.
The use of cryptocurrencies in the online casino industry, as mentioned above, is becoming more widespread due to its many advantages. For this reason, more and more players prefer online casinos that accept cryptocurrencies as a form of payment. In fact, we are not surprised by the popularity they are gaining. The main cryptocurrencies that are usually accepted are Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, and Litecoin, among others. If you want to play using your favorite cryptocurrency, don’t forget to check the list of digital currencies supported by the venue and start enjoying your gambling like you never imagined!
Cryptocurrencies have been in the digital market for more than two decades, however, in recent years they have taken the spotlight. Some online casinos nowadays offer crypto games, which are aimed at the use of virtual currencies as payment methods. This trend is definitely going to continue, and in the future players can expect to find crypto-specific games at more venues. Due to the hundreds of cryptocurrencies that have been taking over the market lately, online gamblers can also expect to find more digital currencies offered as a form of payment method at their favourite casinos.
We are still at the beginning of the crypto-era, so we are sure that virtual currencies will continue taking over our daily lives. Online casinos will also continue using this form of payment, and adapting the way they function to meet the demands of the ever-growing number of crypto-gamblers.
Thanks to the popularity of cryptocurrencies such as Bitcoin, more and more online casinos accept this form of payment. Some online casinos even offer special promotions which are tailored for crypto-users and can bring you prizes worth up to thousands of dollars.
1xBit for example is a great choice for all online gamblers that want to play using crypto. New users at the site can pocket a sign-up bonus of up to 7 BTC for their first four deposits, which means that you can earn thousands in extra bonus cash. 7Bit Casino also stands out with its welcome offer of 100% of your deposit within the limit of 1.5 BTC, plus also 100 Free spins for your favourite slot games. BC.Game is another generous casino that has a reward for crypto players. Register at their site and you will be eligible for a generous welcome offer of 180% Up to 1 BTC, plus daily lucky free spins!
What are you waiting for? Start your casino journey using your preferred cryptocurrency and claim a massive welcome bonus when you join one of the best crypto casinos listed on our site.
Yes, absolutely. Cryptocurrencies have been extremely popular in the last few years, with many currencies like Bitcoin reaching thousands in value.
As a new trader, you should start with more well-known digital currencies such as Bitcoin and Ethereum.
You can check out low-value coins such as Dogecoin, Uniswap, Cardano and Stellar.
Cryptocurrency is a decentralised digital form of money that’s built on blockchain technology.
Yes, you can sell your cryptocurrency at a crypto exchange platform.
Yes, the technology behind cryptocurrency is built to guarantee safety and security.
It is legal to use Bitcoin in most countries, but you should check with your local legislation to be sure.
Cryptocurrency is a decentralised digital form of money, which is not controlled by a single institution.
You have to create a digital wallet and start investing at a crypto exchange such as Binance.
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