Beginner’s Guide to Bitcoin and Crypto Casinos
Interested in Bitcoin casinos but unsure of where to start? Our beginner’s guide to using Bitcoin and crypto casinos will give you all the information you need. We provide the pros and cons of playing with cryptocurrencies, what crypto wallets to use, our favorite crypto casinos, and much more.
The Best Bitcoin Casinos for EU Players 2024
Table of Contents
The Good and the Bad with Crypto Casinos
- Safe and fully regulated
- Better deposit bonuses
- Casinos charge no transaction fees
- Tax free winnings (EU)
- More anonymity
- Withdrawals in 30 minutes
- Only available at Curacao-licensed sites 2024
- Bitcoin deposits takes up to 30 minutes
- Crypto is extremely volatile
- Your crypto wallet charges a fee
There are both benefits and drawbacks to using crypto casinos, let’s start with the benefits. Crypto casinos are fully regulated (and provably fair), just like normal online casinos. This means you don’t have to worry about scams as long as you’re choosing a casino with an active license.
Most crypto casinos also offer bigger bonuses for deposits in Bitcoin, Ethereum, or another crypto currency which they may accept. This means you can get a bigger pot to play with when you start than if you instead used Euros to fund your account. That said, there are also often Euro deposit bonuses.
Another added benefit is that you’ll enjoy tax-free winnings in the EU regardless of which currency you use to play. In addition, crypto offers increased anonymity compared to traditional funding methods, because you don’t need to link a credit card or bank account to the casino.
There are really only two drawbacks when it comes to crypto casinos. The first is transaction fees. When you send a cryptocurrency transaction to the casino, they don’t charge a deposit fee. However, in order to send the funds to the casino you’ll need to pay a transaction fee to your crypto wallet provider (likely around 5€), which you normally wouldn’t have to pay if you funded with a bank transfer, such as Zimpler or Brite.
Finally, crypto is volatile. This means that it goes up and down in value on a constant basis. You may end up depositing and betting with Bitcoin one day only to see its Euro value increase the next day. You’d essentially get less value than you could have. If you’re expecting Bitcoin to go up in value, it’s likely better to fund with Euros as they have a more stable value.
How to Start Playing at a Bitcoin Casino
Follow the steps below to start playing at a Bitcoin casino:
- Step 1: Create a Bitcoin wallet (we explain how to set up a crypto wallet in the next section).
- Step 2: Fund the wallet by depositing Bitcoin from another source such as a crypto exchange or another wallet you own.
- Step 3: Sign up for a Bitcoin casino, verify your identity, then get your Bitcoin deposit address.
- Step 4: Send Bitcoin from your wallet to the address given to you by the casino.
- Step 5: Wait for the deposit to be confirmed by the casino. That’s it! You can then start playing.
Playing at a Bitcoin casino is not much different than playing at a regular online casino. The only difference is that instead of connecting a bank account, credit card, or other funding method to the casino, you instead deposit Bitcoin. You’ll need to create a Bitcoin wallet (if you don’t already have one) in order to do this.
After you’ve created the wallet, you simply need to sign up for a casino that accepts Bitcoin, then complete identity verification (KYC). You can then get a deposit address from the casino that is tied to your casino account. Send Bitcoin from your wallet to the deposit address provided. Once the deposit is confirmed by the casino you can start playing any of the available games.
Setting up a Crypto Wallet to Buy Bitcoin
A crypto wallet is a piece of hardware or software that is used to store digital assets such as Bitcoin or Ethereum. Unlike a traditional wallet, crypto wallets can be recovered if your device (smartphone, laptop, etc) is lost or stolen. This is because when you set up a crypto wallet, you are given something called a recovery phrase, secret phrase, or seed phrase. These are all the same thing.
A recovery phrase is a list of 12 or 24 words that are what you use to recover your wallet if you lose access to your device. It’s extremely important to never give anyone your recovery phrase, as they would then be able to steal all your funds. Nobody but you will ever need that phrase for any reason, not even the casino.
When you set up a crypto wallet, you simply install the app, copy down your recovery phrase somewhere safe and secure, and then can start using it. Depending on the crypto wallet, you’ll be able to buy Bitcoin, along with a variety of other cryptocurrencies, directly within the wallet using your preferred payment method. See our list below for some of our recommended crypto wallets.
The Best Crypto Wallets for Casino Players
In no particular order, here are 6 cryptocurrency wallets you can get for free that are good for casino players. For each wallet, we’ll quickly mention its various forms, asset support, and a quick description.
Exodus is one of the oldest crypto wallets available. Exodus is available as a desktop app for Windows, Mac, and Linux, as a mobile app for iOS and Android, and as a browser extension for Chrome and Brave. Exodus supports Bitcoin and 230 other digital assets such as Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and more. Most assets can be bought directly within Exodus using their infrastructure.
In addition, you can swap nearly all of the supported cryptocurrencies directly within the wallet. This gives you multiple options for funding your crypto casino account.
The Atomic Wallet is a cryptocurrency wallet and exchange app, that supports Bitcoin along with 300 other cryptocurrencies. Atomic Wallet lets you buy crypto directly in the wallet and also integrates an exchange in the wallet, so you can instantly swap between all supported assets. Founded in 2017, the Atomic Wallet supports multiple operating systems including Windows, MacOS, Ubuntu, Fedora, Debian, Android, and iOS.
The Coinbase Wallet, released by Coinbase Exchange, is a cryptocurrency wallet available as a browser extension and as a mobile app for iOS and Android. Coinbase Wallet supports Bitcoin, Dogecoin, Litecoin, Stellar, and Ripple networks for sending and receiving. This means you have multiple options for funding a crypto casino account.
Trust Wallet is a multi-currency crypto wallet that supports Bitcoin, Ethereum, and much more. Like Exodus and Atomic, you can swap crypto assets from within the wallet and purchase them too. Trust Wallet is available for iOS, Android, and as a browser extension for Chrome.
Trust Wallet is not to be confused with Trustly, the Swedish instant banking favorite among EU casino players.
Originally a Bitcoin-only wallet that launched in 2014, Edge is a mobile wallet that makes holding and trading Bitcoin and other crypto simple. It also allows users to send, receive, and trade additional digital currencies such as Ethereum (ETH) and Litecoin (LTC), which are often accepted by crypto casinos as well. As with Atomic, Trust, and Exodus, Edge allows you to swap and buy crypto within the app.
MetaMask is one of the most well-known crypto wallet apps available. It began as an Ethereum wallet but has since expanded its support to other networks such as Binance’s. This cryptowallet is available for both iOS and Android, and as a browser extension for Chrome, Firefox, Brave, and Edge. MetaMask should only be used if you’re planning to fund your casino account with Ethereum-based assets such as ETH or USDT. This wallet lets you swap and buy crypto as well.
Blockchain Technology Explained
Blockchain and cryptocurrency are two separate things. Cryptocurrency doesn’t exist without blockchain technology, but blockchain technology can exist without cryptocurrency. Blockchain is the technology that allows cryptocurrency to function; it’s the infrastructure that crypto is built upon.
A blockchain is a distributed ledger or database. It’s shared across multiple computers in a network (these computers are referred to as nodes). The difference between a regular database and a blockchain database is the way the data is collected and stored: in blocks.
Blockchain blocks have a set storage capacity for data (such as transactions between users). When the block is filled it gets closed and linked to the previous block, creating a chain, which is where the name comes from.
One of the best analogies for separating blockchain and cryptocurrency is to think of blockchain as the Internet and cryptocurrency as the websites you can find on it. There are a variety of domain (website) providers for the Internet just as there are a variety of blockchains that cryptocurrency can be on.
Bitcoin Deposits and Withdrawals
Bitcoin is one of the slower blockchain networks. This means that both deposits and withdrawals are likely to take at least 30 minutes. Withdrawals are likely to take even longer as the casino has to process the withdrawal. Bitcoin transactions generally require 5 or 6 confirmations to be considered guaranteed, which actually means it may be closer to an hour for processing depending on the casino’s policies.
Many casinos will not charge you for withdrawing in Bitcoin, though some will charge a dynamic fee that is based upon actual network costs. There are also others that will intentionally charge more than the actual cost to generate some more revenue.
Depositing Bitcoin doesn’t incur any fees with almost any platform. However, to send your Bitcoin (or any other crypto asset) you need to pay the transaction fee to the blockchain network. For Bitcoin this is likely to be around 5€ per deposit.
Deposit with Bitcoin for Better Bonuses
As an incentive for users to deposit Bitcoin and/or other digital assets onto the platform, many crypto casinos offer higher bonuses for those deposits. This is because it’s possible for the casino to make extra money from the volatility that crypto assets experience.
Casinos can wait to sell the Bitcoin they’re holding in a better market environment and make extra revenue so they incentivize users to deposit in crypto. Below we have listed the best Bitcoin casino bonuses offered in 2024:
Vave offers new users up to a 100% bonus (1 BTC max) when you deposit any of their accepted crypto assets. They also give you a 50% bonus on your second crypto deposit and for reloading your account on Thursdays. You must wager it 40 times to be able to cash out your winnings.
21bets offers a crypto deposit bonus of up to 150% on all crypto deposits made to their platform. In order to receive your bonus, you have to contact the support team. This crypto bonus comes with a 45x wagering requirement.
What Currency are the Games in at Crypto Casinos?
At this point you may be wondering what currency you’ll be playing with when you deposit crypto into an online casino. Most crypto casinos will automatically convert your crypto balance to a Euro balance in order to make gameplay more simplified. It would be too complicated to place bets in BTC or another crypto because you’d have to figure out what its current conversion rate is for Euros.
It’s also easier for the casino to make payouts in Euro rather than Bitcoin or another cryptocurrency. This doesn’t mean you can’t withdraw Bitcoin when you cashout. You will just see your winnings denominated in Euros rather than Bitcoin when you win the game you’re playing.
The most used Cryptocurrencies at Online Casinos
Below we’ve listed some of the most common crypto assets you can use at online casinos. For each asset we’ve also provided a brief description.
- Bitcoin (BTC) – The original cryptocurrency that was created by Satoshi Nakamoto in 2008. It’s the largest cryptocurrency by market cap.
- Ethereum (ETH) – The first blockchain to have smart contracts and non-fungible tokens (NFT). Ethereum is the second largest crypto by market cap.
- Litecoin (LTC) – Litecoin is like Bitcoin but with 10x the supply and faster transaction speeds. It was created using Bitcoin’s code.
- Dogecoin (DOGE) – Like Litecoin, Dogecoin was created using Bitcoin’s code. It has exponentially more supply than either and is often associated with Elon Musk.
- Bitcoin Cash (BCH) – Bitcoin Cash is a fork (different version) of Bitcoin that has faster transaction speeds.
- USD Tether (USDT) – USDT is a USD stablecoin that is pegged to the value of the USD. It’s available on multiple blockchains such as Ethereum and Tron.
- Tron (TRX) – Tron is a blockchain project that first existed on Ethereum in 2017. Its goal is to provide full ownership rights to content creators.
Which casino licenses accept Bitcoin?
Casinos licensed in Malta don’t accept Bitcoin or crypto in general, though the Malta Gaming Authority (MGA) is testing crypto payments in certain Scandinavian/Nordic markets like Norway.
Curacao casinos on the other hand can accept crypto payments in Bitcoin and other digital assets. This is why for example 21bets is now licensed in Curacao rather than Malta where it was previously.
Casinos in Estonia and other Baltic states don’t allow crypto on their online casinos. Residents of these countries are also prohibited from using online casinos that do accept crypto.
Generally, casino license providers only allow gambling to be done in the local currency, which often rules out Bitcoin and other cryptocurrencies. For example, the Spelinspektionen in Sweden only allows gambling to be done in SEK.
Is it Safe to Play at Crypto Casinos?
Yes, it’s safe to play at a crypto casino. As long as the casino is regulated and has a license from a good country such as Curacao, then you’ll be safe. All of the casinos listed on Slotsoo are safe to use and are fully regulated with proper licensing.
Crypto casinos also must follow the same know your customer (KYC) and anti-money laundering (AML) procedures as non-crypto online casinos. This means that users’ identities must be verified before they can use the platform. Having these regulations in place protects all users.
Perhaps the one issue with crypto casinos is self-exclusion. If you fund the account from a crypto wallet, you can still create an account with a different email and fund it even if you’ve previously requested that your other account be blocked.
New Crypto Casinos 2024 to Check Out
Here we have listed the best new casinos with crypto payments 2024
- Manga Casino – This site was launched in early 2023 and offers both rakeback and cashback to its slots players.
- Vave Casino – The home for those serious about crypto gaming since 2022. Here you can find both casino games and sports betting.
- Hellspin Casino – This hot newcomer from 2022 offer attractive VIP-rewards regardless if you deposit with Bitcoin or traditional money.
- Jupi Casino – Jupi’s Crypto bonus gives you 120% up to 1000€ and you can claim it every day. The minimum deposit is 25€.
If you’re interested in playing with crypto in online casinos, then be sure to check out the ones mentioned above. They all offer solid bonuses for crypto deposits and a large variety of casino games to play. We hope our Bitcoin & crypto casino guide has given you all the information needed to take the leap!
Bitcoin Online Casinos FAQ
Which crypto casino offers a no deposit bonus to new players?
All crypto casino bonuses require a deposit, so you cannot receive free Bitcoins. As you can see from our list of the best Bitcoin casinos, some of them do offer bonuses without wagering requirement. This is a better type of bonus, since you can withdraw the winnings straight away.
Do I have to pay taxes on my winnings from a Bitcoin casino?
This depends on your country’s legislation and where you play. Normally, EU players can enjoy tax-free winnings as long as the casino is targeting the EU market (offering Nordic language options and Euro as currency for example). Please double check with your local tax authority to be sure.
Are Bitcoin Casinos really 100% anonymous?
No, no regulated casino can be 100% anonymous. Crypto casinos must follow know your customer (KYC) and anti-money laundering (AML) regulations. This means that all users need to register their identity with the platform to use it. Using crypto just allows you to keep your banking information off the casino platform.
What games do Bitcoin casinos offer?
You can find all the same games you’d find on regular casinos. This means 1000+ slots, table games, live dealer game shows, scratch cards, sports betting etcetera. Many crypto casinos also offers crash game, a game that resembles the stock market (or the Bitcoin price curve).
Are Bitcoin online casinos safe to use?
Yes, as long as you stick to licensed casino operators and use legit crypto wallets for your payments. We only list Bitcoin casinos that have a good license (for example Curacao) and that we have personally tested to ensure they are 100% safe.
Do Bitcoin casinos only accept crypto deposits?
Most Bitcoin casinos accept both crypto and fiat deposits (=regular currencies such as euro). There are some exceptions that accept only crypto, but the ones mentioned in this guide accept both.