Cryptocurrency: A Complete Guide

If you ever wondered what cryptocurrenices are, where and how to buy them, how to play in casinos using them, or any other crypto-related question – you are in the right place. Here you’ll find the best crypto casinos and gambling dApps as well as a complete beginners guide for all significant cryptocurrencies.

Bitcoin
Bitcoin

Casinos with Cryptocurrency Payments

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    Accepted Currencies
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    With a wheel of fortune offering up to 1 BTC each day, this is a site that will instantly grab your attention. A massive crypto selection along with provably fair games makes this a premium selection.

    Accepted Currencies
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    CloudBet Started out as just a Bitcoin casino and since then has expanded to include a range of cryptocurrencies. A huge welcome bonus and fantastic casino games makes CloudBet a top name in crypto gaming.

    Accepted Currencies
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    True Flip works hard to offer players something different. It’s even gone as far to make its own blockchain games for players. With an in-house token, True Flip gives players more crypto choice than a lot of other sites.

    Accepted Currencies
    bnb-icon bitcoin-icon bch-icon ada-icon dogecoin-icon ethereum-icon litecoin-icon xrp-icon tron-icon -icon
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  5. Wildcoins Casino Wildcoins Casino Review
    4.7/5
    • 1000 Games
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    Wildcoins is a blockchain casino that’s open to a lot of geographies, including the USA. There’s a massive welcome bonus offered and some top level games to make this a superb site.

    Accepted Currencies
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  6. mBit Casino mBit Casino Review
    4.7/5
    • Live Casino
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    Bonus Offer Bonus up to 5 BTC + 300 FS
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    A massive 5 BTC welcome bonus is added to a great choice of games and fast cashout. mBit is everything that crypto players could want from a casino. Almost 3,000 games makes this a site with incredible choice.

    Accepted Currencies
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    Main Features
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    Blockchain tron logo
    Customer Support
    Licences
    Curaçao (CGCB)
  7. Fairspin Casino Fairspin Casino Review
    4.7/5
    • Provably Fair Games
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    • Huge Selection of Cryptos
    Bonus Offer Welcome Package Of Up To 5 BTC & 140 FreeSpins
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    Fairspin gives crypto players one of the most comprehensive cryptocurrency choices around. With a superb welcome bonus and fantastic gaming choices, Fairspin is an industry leader.

    Accepted Currencies
    Bitcoin-icon Ethereum-icon Cardano-icon Dash-icon Litecoin-icon Tether-icon Tron-icon BCH-icon BNB-icon USDC-icon Monero-icon XLM-icon Dogecoin-icon PAX-icon XRP-icon
    Main Features
    • Provably Fair Games
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    • Huge Selection of Cryptos
    Blockchain tron logo
    Customer Support
    Email Live chat
    Licences
    Curaçao (CGCB)
  8. Bao Casino Bao Casino Review
    4.7/5
    • Large selection of games
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    Bao Casino gives players access to almost 4,000 different casino games. With some excellent cryptocurrency selections and fantastic bonuses, Bao Casino is certain to offer what you need.

    Accepted Currencies
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  9. JustBit Casino JustBit Casino Review
    4.3/5
    • Cashback Bonus
    • Excellent on mobile
    • Easy & quick withdrawals
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    This new site provides players with casino gaming and sports betting. The welcome bonus is wager free too, which makes it a great site for new players to try out. Players can also enjoy lots of different cryptos with JustBit.

    Accepted Currencies
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    • Bitcoin Accepted
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    7bit Casino has more than 4,000 different casino games to enjoy. If you like choice, then it’s the site for you. Provably fair games are included and a good range of cryptocurrencies are offered alongside a top class welcome bonus.

    Accepted Currencies
    bitcoin-icon bch-icon litecoin-icon ethereum-icon dogecoin-icon ada-icon
    Main Features
    • Bitcoin Accepted
    • Reload bonus
    • Cashback
    Blockchain tron logo
    Customer Support
    Live chat
    Licences
    Curaçao (CGCB)

Over the last few years, cryptocurrency and blockchain technology have experienced immense growth. Due to this growth, cryptocurrencies are now being accepted as a payment option by many top organizations and industries. However, despite their popularity and adoption, there are still questions about digital currencies.

This guide will provide a detailed explanation of cryptocurrencies and how they function. Additionally, the article will list and discuss some of the top digital assets available in the payment section of our best crypto casinos and gambling dApps. Let us start this guide by defining cryptocurrencies.

cryptocurrencies

The Crypto 101 for Beginners

A cryptocurrency is a digital currency used for the payment of goods and services. Like fiat money, cryptocurrencies can also be used as a store of value. Cryptocurrencies are secured by robust cryptography. The primary function of cryptography is to prevent the creation of counterfeited digital assets and double-spending.

In most cases, cryptocurrencies use blockchain technology to operate their decentralized networks. Consequently, they employ distributed ledgers on a vast network of computers to track transactions.

All crypto assets are stored in digital wallets. A popular type of crypto wallet is the blockchain wallet that allows users to store and trade their cryptocurrencies safely. Since cryptocurrencies are operated on decentralized networks, they can not be controlled by central authorities like central banks or government regulators.

In 2009, Satoshi Nakamoto created Bitcoin, the world’s first cryptocurrency. In the years since the release of Bitcoin, more than 8,000 cryptocurrencies have been created. In general, all other digital currencies created after Bitcoin are understood to be Altcoins.

Classification Of Cryptocurrencies

In the most basic sense, cryptocurrencies can be divided into three main classes. Altcoins, Coins, and tokens. Let us quickly review each of these classifications.

Altcoins

The term altcoin originates from the phrase alternative to bitcoin, and it refers to all cryptocurrencies other than Bitcoin. Some popular altcoins include crypto assets like Cardano (ADA), Litecoin (LTC), Dogecoin (DOGE), Ripple (XRP), Ethereum (ETH), Binance Coin (BNB), and Tether (USDT).
The majority of altcoins follow the same framework that Bitcoin was built on. As a result, they share several similarities with Bitcoin. However, altcoins differ from Bitcoin in many ways, and in many cases, they offer investors financial products that are different from Bitcoin.
Regarding their differences from Bitcoin, some altcoins use a different process to produce and validate transactions on their blockchain. In other cases, some cryptocurrencies may use innovative features like smart contracts on their network, while others may help investors control high volatility by providing stability. Altcoins can further be divided into coins and tokens.

Coins

Coins are crypto-assets built on their own blockchain, meaning that they act as the native currency of their blockchain. For example, Ether (ETH) is the native currency on the Ethereum blockchain. Similarly, Cardano (ADA) acts as the native currency on the Cardano network.

Tokens

Tokens are crypto assets that are built on an existing blockchain. However, unlike coins, tokens do not act as the native currency on a blockchain. Rather, they are programmable digital currencies that allow for the production and execution of smart contracts.
Tokens share many similarities with fiat currencies. For example, they can be used to purchase goods and services. They can also stand as a measurement of value for real-world items.

Best Cryptos for Gambling

Some digital currencies are more popular than other crypto assets because of the unique features they offer. This section of our guide will briefly consider some of the most popular cryptocurrencies in the iGaming industry.

bitcoin-icon Bitcoin (BTC) Casinos

In 2009, Satoshi Nakamoto created Bitcoin, the world’s first cryptocurrency. Bitcoin is the first decentralized cryptocurrency, meaning that it relies on blockchain technology to function.
The Bitcoin blockchain makes use of a decentralized public ledger to record all Bitcoin transactions. Bitcoin was also the first cryptocurrency to implement robust cryptography and consensus verification (Peer-to-Peer). The basic framework of Bitcoin has been adopted by several other cryptocurrencies today.

BTC miners are tasked with the verification of transactions on the Bitcoin network. These miners make use of powerful computers to verify each block of transactions on the Bitcoin network. The verification process also leads to the creation of new Bitcoin, which serves as a reward for miners.
The verification process is commonly referred to as the proof-of-work system. Transactions on the POW network are permanently recorded on the blockchain, ensuring the validity and security of every bitcoin in the network and the entire network. There have been many concerns regarding the activities of Bitcoin miners due to the vast amounts of energy the mining activities consume.

Currently, there are more than 18.8 million BTC tokens in circulation. However, this digital asset has a maximum supply capped at 21 million coins. When writing this guide, BTC has a total market cap worth over $1 trillion, making it the world’s largest cryptocurrency in terms of value. Bitcoin has become a widely accepted payment option in the iGaming Industry. All of our listed crypto casinos and gambling dApps offer Bitcoin as a payment option.

etherum-icon Ethereum (ETH) Casinos

Ethereum is a blockchain technology platform that enables developers to create, publish, monetize, and use decentralized applications (or dApps) in a programmable way. Ether (ETH) is the primary payment option available to users of the Ethereum network.
Ether is currently the second most popular digital currency behind Bitcoin. Like Bitcoin, Ethereum also runs on a proof-of-work system, but the devs team is working to move to a proof-of-stake network. Unlike Bitcoin, more Ether coins can be produced. The Ethereum blockchain has served as a platform for the creation of many new crypto projects. These include initial coin offerings and non-fungible tokens (NFT). Similar to Bitcoin, all listed gambling platforms on dAppGambl.com offer Ethereum as a payment option to bettors.

Bitcoin Cash - Mobile Bitcoin Cash (BCH) Casinos

Bitcoin Cash is a digital asset that is very similar to the top crypto asset Bitcoin. This digital asset was developed after a hard fork to Bitcoin’s blockchain in 2017. Like Bitcoin, this digital asset’s maximum supply is capped at 21 million tokens.
Bitcoin Cash transactions are decentralized and anonymous. Additionally, this digital currency uses public ledgers to record all transactions on the Bitcoin Cash network. Due to the transaction speed of Bitcoin Cash, many of our listed gambling offer this digital asset as a payment option to bettors.

tether-icon Tether (USDT) Casinos

Tether is a stable coin whose value is backed and sustained by the American dollar. As a result, Tether maintains a 1:1 value with the dollar (USD). As a result, USDT always retains a constant value of $1. Stable coins are cryptocurrencies that are pegged to the value of fiat currencies. As a result, all stable coins correspond to the value of the fiat currencies that backs them.

Tether was the first stable coin in the crypto space, and it performed its primary function well by controlling the volatility of digital assets. The token has also been adopted as a payment option and is offered as a payment option on most crypto casinos and gambling dApps. Due to its popularity and wide acceptance in the gambling community, most of our listed gambling sites offer this stable coin as a payment option to bettors.

litecoin-icon Litecoin (LTC) Casinos

Litecoin is a virtual currency that Charlie Lee created in 2011. This digital currency is was created to rival Bitcoin and shares several similarities to the crypto asset. Like Bitcoin, Litecoin is decentralized and can not be issued or controlled by central authorities like central banks or governments regulators.
Litecoin also has a fixed supply of 84 million tokens.

Litecoin used to be very popular but has dropped in popularity with the creation of many other crypto assets. Currently, Litecoin is ranked as the 16 most popular cryptocurrency in the world. Litecoin is a very effective payment option, and many of our gambling platforms accept it as a means of payment on their sites.

dogecoin-icon Dogecoin

Dogecoin is a popular meme coin that was launched in 2013. Like Bitcoin and Ethereum, Dogecoin runs on a proof-of-work system for recording its transactions. Doge has an unlimited supply of tokens in circulation.

Despite been a meme token, Doge has a large community of supporters that hold and trade the digital currency. Among a long list of supporters is Elon Musk, CEO of Tesla. Currently, Dogecoin has been adopted as a payment option by several top gambling platforms. As a result, you will find this digital on many of our listed crypto casinos and gambling dApps.

cardano Cardano (ADA) Casinos

Cardano is a third-generation public blockchain platform that relies on a proof-of-stake system (PoS). Compared to the Bitcoin and Ethereum blockchain, Cardano offers more stability. Additionally, the Cardano blockchain is more efficient and uses smaller amounts of energy for its activities. However, the Cardano blockchain is not as popular as the Bitcoin and Ethereum blockchain.
The native token of the Cardano network is called ADA, named after 19th-century mathematician Ada Lovelace. Cardano (ADA) supply is capped at 45 billion coins.

binance_logo Binance Coin (BNB) Casinos

The Binance Coin is the native token for the Binance exchange and can be used as a medium of exchange on the crypto platform. Originally developed on the Ethereum blockchain in 2017, the Binance coin has been migrated to the Binance blockchain.
BNB has a maximum supply of 200 million tokens. However, half of the total supply was sold during the coin’s initial coin offering. To drive demand, Binance buys back some coins it holds every quarter before permanently burning them.
At its inception, BNB allowed crypto traders to receive discounts on trading fees in the Binance exchange. However, the coin is now used as a payment option. These include payment for travel, entertainment, online services, and in some cases, financial services.

Casino
Rating
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BC.Game Casino
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Cryptocurrency Market Value

FAQ

How do I buy cryptocurrency?

To purchase cryptocurrencies, you’ll need a “wallet,” which is an internet application that stores your funds. In general, you open an account on a cryptocurrency exchange and then use real money to purchase cryptocurrencies like Bitcoin or Litecoin. Your coins will then be stored on your exchange wallet

If you want to start using the crypto currency in dApps you will need to transfer your funds to your web3 wallet. Be sure to select the right blockchain network for each transaction. If you are for example sending BNB to your web3 wallet, be sure to select the Binance Smart Chain on top of your web3 wallet interface and then copy the address. If you do not do this right, your funds will be lost forever. 

You may also buy crypto in DeFi dApps, like Pancake Swap. For this simply connect your wallet to the dApp and select swap – now you can select the token in your wallet that you want to swap, as well as the token you want to receive. As the dApp is directly connected to your wallet, the funds will automatically appear in your wallet, after you have added the token. 

How do beginners buy Bitcoins?

Your most likely destination as a newbie is a Bitcoin exchange. You’ll sign up for an account and choose a payment method. You’ll be requested for information like your bank account number or a debit or credit card at trustworthy exchanges. You’ll then need to show a driver’s license, ID, or passport to establish your identity. After you’ve been authenticated, you may begin purchasing Bitcoin using your preferred payment method, sending it to your own wallet, and keeping a close eye on its price fluctuations.

Julien Ross
Written by Julien Ross verified symbol Crypto Enthusiast
23 Articles

Julien is a digital experience writer and storyteller building bridges between his new love for the crypto space and his passions for remote work, travel, and entrepreneurship. He is the owner and operator of Content by Design and Blockheads! Creative. This all means that he’s able to seamlessly shift between the different passions in his life. His writings about crypto are all tinged with his love for creativity and desire to share his knowledge with the world. The world of travel and working remotely means that Julien has the ability to easily keep up to date with all of the latest innovations within the world of crypto. As a byproduct of that, he then uses his flexible working life to ensure that the latest info is shared with our readers. Of course, he also shares knowledge through his other business interests. He’s been able to build up a huge amount of experience when it comes to teaching others. Whether it is organizing conferences and bringing in the best keynote speakers or even leading talks himself, Julien has enough expertise to back himself in any situation. With crypto being a big part of his life, it wasn’t a surprise to us that he wanted to join our team. His desire to keep growing his own knowledge base, while also sharing what he knows with others, means that this is the perfect home for him. We feel as though it is our pleasure to have Julien on the team. His level of knowledge and attention to detail means that he can provide the very best content for our readers. This ensures that our dedication to providing high-quality and detailed reviews is followed up by Julien. The skills that Julien has developed as a storyteller mean that he will always lead to the right path.

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Reviewed and Fact Checked by Kevin O'Brien , Web3 & DeFi Writer