Monero Online Casinos
Modern banking has undoubtedly taken a turn to the digital side of things. With most things nowadays occurring through cyberspace, with the help of the internet, it was only a matter of time before currency and transacting got a digital makeover. Generally, this is a good thing. Since most new-age banking options focus on online transactions, it’s easier for most people to conveniently pay for services with a few clicks on their gadgets. While there are tons of excellent modern payment methods that foster online transactions, such as eWallets, instant transfer services, and virtual cards, one trend tends to take all the attention. Of course, we’re talking about cryptocurrencies. Digital tokens like Monero are some of the most revolutionary releases in the past few decades, and if you’re interested in learning more about this leading token, stick around.
Monero is one of the few cryptocurrencies to make a name for itself since the launch of crypto and blockchain technology. Launched in 2014, this token has a rich history most people don’t know about. Essentially, this digital coin is a fork of BitMonero. Its predecessor was released a year before, but it didn’t gain as much traction. In contrast, this cryptocurrency is one of the biggest names on the scene. It has the third-largest community of developers at its back, standing just a few steps behind powerhouses like Ethereum and Bitcoin.
For those wondering what makes so many developers gravitate toward this token, the answer is simple. Unlike most other digital coins, this one offers a heightened sense of anonymity. While the entire crypto category is known for its pseudo-anonymity, this token takes things up a notch. It doesn’t just keep private data out of reach, it also obfuscates details on the public ledger! As you can imagine, this makes it a top pick for crypto-anarchists and crypto privacy advocates that want to maximize their anonymity when exploring the online world.
Monero exists because of this need for heightened anonymity in digital currencies. The token and its platform were first mentioned in a 2013 whitepaper where this quality was put at the forefront. Tons of people in the crypto world agreed with this sentiment, and thus, the coin was launched later the next year. While the consensus for heightened anonymity when transacting online is almost undisputed, this quality does come with some cons. Untraceable tokens are often used for illegalactivities that draw negative attention. These activities include dark web deals, money laundering, ransomware, and more.
In the online gambling world, this trait is a massive perk. If you’re familiar with the online gambling space, you know it’s not always the safest environment. Many scammers are posing as legitimate casino sites. Even worse, some third parties try to access your private data and use it for nefarious purposes. The anonymity of this token ensures your information is kept safe and out of reach. Sure, you could lose some money if you fall into these traps, but at least the risk of identity theft and other similar misuses is practically non-existent.
We’ve focused a lot on Monero’s anonymity, but that’s not all the token has to offer. This digital coin comes with all the trademark perks of cryptocurrencies, so users can expect things like quicktransactions, a convenient online platform, and excellent security. Of these, the first one is a beloved feature for online gambling fans. It facilitates near-instant depositsand withdrawals, something that’s hard to find with old-school methods like bank cards. This is especially true when withdrawals are in question, as they tend to have waiting times that span several days.
Another big perk of crypto in the online gambling world is access to premium content. You might not have known this, but using cryptocurrencies like Monero for online casino deposits can open the door to exclusive content. This applies in crypto casinos. In these venues, crypto users can play crypto-exclusive slots, table games, Bingos, and more! These titles can be fun and highly rewarding, but you can’t play them if you’re using a traditional eWallet, prepaid voucher, or credit card.
Now that we’ve covered the perks of using Monero as your go-to payment method, it’s time we discuss the cons. While this token is an insanely popular cryptocurrency, it’s not as big in the online gambling space. Your pick of venues may be more limited than you’re used to, but generally, it’s not too bad compared to most payment options. Another con here is the hassle of obtaining the currency. Getting your hands on a cryptocurrency can often be daunting, and we’ll discuss it more in-depth in the next section.
How to Start Using Monero
Monero is one of the few cryptocurrencies to make it big, so as you can imagine, there are several popular ways to get your hands on it. Some of these methods are undoubtedly better than others, but most of them can be pretty daunting for people who aren’t familiar with the world of crypto. Up next, we’ll cover some of the most frequently used methods to obtain this token, and why they might be a good fit for you.
The first method we’ll talk about is crypto mining. Monero works on a proof-of-work concept, so mining is a viable way to obtain it. This method was popular in the early days of cryptocurrency, but nowadays, it’s a big undertaking that most casual users should avoid. To mine most cryptocurrencies today, you need expensive equipment, time, and near-constant supervision. The funny thing is, even with all these things, the result usuallyisn’t worth the effort. Mining is now mostly relayed to big companies that can take on this process on a larger scale and make it profitable.
While mining is undoubtedly tons of hard work, crypto games are the opposite. Crypto games are likely what you’ve imagined. They’re fun video games on the blockchain that grant crypto rewards to players. To earn rewards, you need to complete various in-game missions and tasks. In theory, this sounds like the perfect way to get some tokens, but in practice, it’s not always worthwhile. These games can be repetitive and time-consuming. What’s more, the rewards they give are usuallyminuscule. To earn a solid amount, you’d need to play for a long, long time.
The next method we’ll be discussing falls somewhere in the middle. The title crypto freelancing says it all. Essentially, you can perform various jobs and gigs on crypto freelancing platforms and get paid in tokens like Monero. There’s no real catch here. There are various jobs on these platforms requiring different skills, and if you have them, you can apply, complete the job, and get paid accordingly. It’s worth noting that digital skills like coding, graphic design, digital marketing, app development, and other similar skills tend to be the most sought-after in these spaces, and the jobs related to them are very well-paid.
Finally, the most convenient way to get your hands on crypto like Monero is crypto trading. Here, all you’re doing is trading a different type of currency for the token, be it a fiat currency or another cryptocurrency. You can do this through popular crypto exchanges, including Binance, OKX, Kraken, and more. To continue, you’ll need a crypto wallet to store your coins. These programs help you keep your tokens safe and are used for all crypto transactions going forward.
Once you get your hands on Monero and have it safely tucked away in your crypto wallet, you can move on to the best part of this entire ordeal, using it! This process is thankfully simple. Head to the checkout section of the retailer and select the Monero option from the list. You’ll be prompted to log in with your crypto ID or wallet. Do so and proceed to the next step. In some cases, you can use the alternative option of scanning a QR code through your crypto wallet app. In both cases, you’ll receive a confirmation request to proceed with the transaction. Confirm the payment and that’s about it!
Depositing and Withdrawing With the Solution
As we already mentioned, depositing with Monero comes with tons of perks. Unfortunately, finding an online casino to visit can be a bit of a mission, due to the lack of widespread support for the token in the online gambling space. The pool of options to choose from might be more limited than you’d like, but thankfully, many of the operators there are solid. They have exciting offers and content, so choosing one to your liking shouldn’t take too long. Once you find one you like and confirm it’s legitimate, here’s how to deposit:
- Head to the casino’s Cashier/Banking/ Payment Methods page and find the Monero logo.
- Click on the logo, and once prompted, enter your wallet ID or scan the QR Code.
- Enter the desired deposit amount and confirm the transaction.
- The money will be transferred to your online casino balance in seconds!
Withdrawing with Monero should also be a breeze. The process is nearly the same as depositing, with one change in the third step. Here, you’ll need to enter the desired withdrawal amount. As you can probably guess, one of Monero’s biggest perks gets a chance to shine here. Since transfers are instant, your withdrawal should appear on your balance in mere seconds! Still, there is one thing to consider here. It might take some time for the casino to approve your withdrawal request, so minimal waiting time will likely still occur.
Coverage and Restrictions
Since Monero is a cryptocurrency, it’s hard to separate it from all the other options in this category when discussing its coverage and restrictions. Because of this, we’ll be referring to cryptocurrencies in general in this section. In general, cryptocurrencies and blockchain are still pretty new technologies. Since they deal with something as sensitive as money, people are especially critical of them. Unfortunately, the world is pretty divided in its stance on these digital coins. On one end, some countries hate the concept and feel it’s dangerous. On the other, others feel like it’s the future of banking and support it wholeheartedly.
The best way to check the availability of crypto in your area is by checking its legality. Crypto and crypto legislation can vary drastically between territories, so it’s best to explore it on a country-to-country basis. To better demonstrate these differences, we’ll list a few examples.
China and Egypt are perfect examples of countries where crypto is a no-go. The use of cryptocurrencies is banned. It can lead to hefty fines and harsh punishments. On the other end of the spectrum, regions like Malta and El Salvador embrace crypto like no other. The use ofcryptocurrencies and crypto gambling is allowed, and their governments use digital currencies to better the economy. Most places, however, are somewhere in-between these extremes. The UK, for example, doesn’t ban cryptocurrency, but it does imposestrict crypto regulations.
Fees and Additional Charges
In the crypto world, the fees don’t usually come from the currency itself, and this is also the case for Monero. While you won’t experience fees from the cryptocurrency, you will run into ones from surrounding apps. For example, fees are a given when obtaining it through a crypto exchange. Similarly, many crypto wallets charge a small fee for each transfer. These fees are practically unavoidable, but there are ways to make them smaller. When searching for options, try exploring exchanges and crypto wallets that impose smaller charges.
Being a currency itself, we can’t talk about accepted currencies from the token itself. We can, however, apply this to the currency exchanges used to obtain it. Since this is the most popular way to obtain the token, most of you will run into them. Crypto exchanges generally accept a ton ofdifferent options. From fiat currencies like the US dollar and UK pound to cryptos like Dogecoin and Litecoin, they have it all. Of course, no matter what you decide to trade for Monero, a fee will apply, so keep that in mind before you proceed.
Monero might not have a dedicated Customer Support page, but it does offer tons of resources to help newbies learn more about it. From a FAQs section to a community tab, there’s plenty to review and learn from. If you run into trouble when transacting with Monero at an online casino, the best approach would be to reach out to the operator’s Customer Support Team. Most casinos have representatives on call to help out in these situations, and they tend to be professional and friendly in their approach. Of course, the quality of the service you receive can vary between providers.
The best way to summarize Monero would be to go over the best and worst of its offer. This digital token is one of the more popular cryptocurrencies on the market, known for its short processing times, excellent platform, safety, and anonymity that stands above nearly all of its competitors! It’s a top pick for online casino fans, as on top of these perks, it can also grant access to exclusive content and bonuses. Unfortunately, the token does suffer some cons. These cons include a somewhat limited reach in the online gambling space and a shaky reputation due to its trademark anonymity being misused.
Is Monero safe?
Yes, Monero is safe. The blockchain uses high-end encryption to keep transactions secure. The cryptocurrency also offers complete anonymity when transacting online, ensuring your private data remains private.
How do I get Monero?
The easiest way to obtain Monero is by purchasing it through a crypto exchange. It’s available through some of the most popular exchanges out there, including Binance and Kraken.
Is Monero legal?
The legality of cryptocurrencies like Monero depends on your location. For more information about crypto and crypto gambling laws in your country, it’s best to refer to official government sources.
Will I be charged a fee for using it?
Monero itself comes with no fees attached, however, crypto exchanges and crypto wallets may charge you a fee for their services.
Are transfers instant?
Yes, they are. Whether you’re depositing or withdrawing, your Monero transactions should go through in seconds.