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Cryptocurrency advantages for payments

If you’re new to the fascinating world of cryptocurrencies, it’s worth going over what they are and why they might just be the better option for depositing and withdrawing at online casinos around the globe. The most well-known cryptocurrency is undoubtedly Bitcoin, which was first released into the world back in 2009 when a person using the alias Satoshi Nakamoto mined the first or ‘genesis’ block. This was around the time of a major banking crisis in the Western world that led to massive bank bailouts. It was quickly heralded as a promising alternative to bank-controlled currencies known as fiat. Since then, there have been many ups and downs, including the mass-selling of Bitcoin back in 2018. But it’s still going strong today, and many others have joined it, including Ethereum, Litecoin, Ripple, Bitcoin Cash, Dogecoin, and more.

One of the main advantages of using cryptocurrencies is the near-instant transfer of capital from one wallet to another – in our case, that’s from a player to a casino or vice versa. Another excellent plus point for it is the level of security offered. Each and every transaction is recorded in a digital ledger based on near-uncrackable blockchain technology, so you can rest assured that it is more secure than Fort Knox. Finally, the other major advantage, especially for someone who maybe wants to keep their gambling private, is that it is entirely anonymous. So, with all that in mind, let’s move on to the nuts and bolts of how you can get yourself set up with crypto.

Exchanges and wallets for crypto

First of all, you’ll need to get a hold of some form of cryptocurrency. You do this via an exchange – a third-party company that takes your fiat currency such as euros, for example, and converts it using the going rate into your chosen crypto. We highly recommend using a reputable exchange for this, such as Kraken, Coinbase, or Bitstamp – searching Reddit or other clued-in forums can lead you to the one that’s perfect for your needs and level of experience. Plus, all of the sites mentioned above have extensive knowledge bases and FAQ pages to help you move money from your bank account into the exchange’s bank account so that you can trade in cryptocurrencies. Once that’s sorted, we highly recommend getting a wallet to store your new bought Bitcoins (or their alternatives) to ensure that you have complete control over everything.

The reason for getting a wallet that is hosted on your computer or mobile device is that some exchanges have previously been hit by hackers and forced to close because of it. This happened famously to Mt Gox in Japan, for example, so it’s always better to be safe than sorry. There are plenty of options for wallets out there – again Reddit can help you decide on the best one – but we’re recommending trying out Electrum, Bitcoin Wallet, or BRD. The former is available for MacOS, Windows, Linux, and Android, so covers most systems, but if you’re specifically looking for one that works with iPhones and iPads, then go with BRD instead. Once that’s all setup, you’re ready to find your perfect hybrid casino and to make your first deposit!

Discovering the best hybrid casinos

Here at GoodLuckMate, we have independently reviewed hundreds of different online casinos and a fair few of them are indeed considered to be hybrids. So, the best thing for finding your next place at which to play is to get stuck into those. Each of our reviews contains detailed information about the available payment methods, so check that section to see if your chosen cryptocurrency is available – it’s worth noting that Bitcoin is the most commonly accepted, with Ethereum being a close runner-up, though some hybrid casinos accept almost all of them. We’ll also spend a lot of time reviewing the types of games available, so be sure to check that they have your favorite slots, progressive jackpots, table games, live dealer titles, and so on.

But just because you find a hybrid casino that supports your chosen payment method doesn’t mean it will satisfy you in many other areas, so it’s always wise to compare and contrast a few different options before taking the plunge. Luckily, our comprehensive and expertly written reviews contain everything you need to know about the level of customer support you can expect (or lack thereof), the usability of the site in general, and whether mobile users will be just as happy. Finally, we pick apart the welcome deal offered by the hybrid casino and include all of the most significant terms and conditions so that you can make an informed decision. Then, once you’re decided, you can simply click or tap on the welcome bonus banner to ensure that you’re taken directly to the site in question and that you’ll be guaranteed the latest deal.

Hybrid casinos for mobile users

If an online casino or sportsbook site is forward-thinking and modern enough to offer cryptocurrency payments, you can almost be guaranteed that it will work perfectly on a wide range of mobile devices. This includes iPhones, iPads, and their various Android equivalents from the likes of Samsung. You don’t even have to download an app (unless you specifically want to, of course) and can access all of the same features, including making deposits and withdrawals in your cryptocurrency of choice, from your gorgeous touchscreen technology. Again, our reviews always cover just how well a hybrid casino works with a mobile device.

How to claim a welcome bonus

As we pointed out above, a hybrid casino enables you to make a deposit in a cryptocurrency like Bitcoin and then play games in a more familiar fiat currency like euros, dollars, or pounds. So, making your first deposit via crypto in order to claim a fabulous welcome bonus (sometimes with free spins too) is largely the same process as using regular money. Although, if you’re not used to how much crypto is worth compared to your national currency, it’s worth Googling the conversion rates when it comes time to take a welcome bonus. They will often be written in BTC (Bitcoin) or mBTC (micro Bitcoin), where 1mBTC is equal to 0.001BTC. However, the equivalent may also be given in, say, euros, so that it’s easier to see what you’re getting at a glance.

Playing online casino games

From there, your Bitcoins or whatever other cryptocurrencies you are using is converted by the hybrid casino into regular fiat money, so that you can play the games using values that you are used to through using them in everyday life. This way, you can enjoy playing video slots, classic fruit machines, table games like roulette and blackjack, or whatever else the casino offers – some even offer you the chance to make bets on sports from the same account – with values given in euros or dollars, for example. And if you go on a winning streak and want to withdraw a whole chunk of change, you can then request for the money to be converted back into your chosen cryptocurrency and sent back to your wallet. The process really is simple once you’ve given it a go. In fact, you may wonder why you didn’t even give it a chance much earlier on!

Hybrid casino – conclusion

We hope you’ve enjoyed reading our brief tour of hybrid casinos – they really do offer the best of both worlds, in our opinion. You get to add money and receive winnings via a super secure, fast, and totally anonymous form of payment, but still play some of the best casino games in a currency that makes more sense in the heat of the moment. Be sure to read through our hybrid casino reviews for more specifics about each brand and enjoy being a part of the future!

Nerijus Grenda
Nerijus Grenda
Last Update: 22 Mar 2023
Nerijus Grenda is a prolific contributor to the GoodLuckMate site. With a deep understanding of the online casino industry, gained from his own experience as an avid player, he offers valuable insights on what sets the best casinos apart from the rest. As a writer, Nerijus shares his expertise through expert analysis and thoughtful commentary on various topics related to online gambling, including casino reviews, game guides and industry trends.

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