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Play Low, Withdraw High – Crypto Volatility for Gambling
The adage play low and withdraw high is an important one to go by when you’re playing in crypto casinos. Using crypto’s inherent volatility to your favour can help you out in increasing your potential winnings in the long term. Which is why, in order to use this, you would first need to understand a thing or two about volatility, get to know some popular coin options and have a good idea of bankroll management to help you play smarter.
Top Crypto Casinos
1. King Bit Casino – 110% Bonus Up to 1 BTC
- Over 1800+ games
- Wide range of cryptocurrency accepted
- Top game developers
King Bit constantly runs offers, promotions and bonuses related to crypto casinos. Accepting major crypto such as Bitcoin, Ether Litecoin and Ripple. They have fast withdrawals and deposits and boast high security measures.
2. mBit Casino – 5 BTC + 300 FS
- Jackpot Games
- Amazing welcome bonus
- Premium VIP Program
Running constant quality promotions and a generous bonus, mBit is a great place to start your crypto casino journey. They accept a wide array of crypto and offer a VIP program for its users.
3. WildCoins – 3.5BTC + 400 FS
- Cashback rewards
- Amazing quality games
- Multiple cryptocurrencies accepted
WildCoins bring their best when it comes to online crypto gambling. Whether you’re after top live casino games, megaways, or other top gaming experiences from premier software developers they’ve got it all. They accept a huge range of crypto, including Bitcoin, ETH, Litecoin, Dogecoin and more.
4. Bets.io – 20% Daily Cashback
- Drops & Win Games
- Great live casino
- Great cryptocurrency support
Bets.io is known to be a player-friendly casino. While they have a good selection of games to choose from, including live casino and top online slots. They accept a wide range of cryptocurrency, such as Bitcoin, ETH, Litecoin, and more.
5. Wild Tornado – up to €1000/0.021 BTC + 100 FREE SPINS
- Curated game collections
- Great bonuses
- Great welcome offer for crypto players
A Bitcoin friendly casino, Wild Tornado offers a great selection of games and promotions, including a selection of promotions including daily cashbacks based on deposits. They accept a wide variety of cryptocurrencies on the platform.
6. CryptoThrills – 250% bonus up to 1 BTC
- Great crypto bonus
- Live dealer and jackpot games
- Amazing quality games
CryptoThrills is a casino that offers numerous promotions, including bonuses, cashbacks and a loyalty program. They accept BTC and Litecoin, and also have a . They offer regular promotions and have a generous welcome package to boot.
7. Lilibet Casino – 100% up to €300
- Daily promotions
- Great customer support
- Sportsbook casinos
Play a right royal game with Lilibet casino, whether you feel like a casino experience like no other, including top slots and live casino, or a few sport bets to max out the fun on live sports events. With a premium VIP program and a wide range of payment methods accepted, this casino is one to watch.
8. FastPay Casino – 100% up to €100
- Great range of payment options
- Top game developers
- Weekly tournaments
Offering a huge range of games for a discerning casino player, crypto casino enthusiasts will be fond of FastPay Casino. With their dedicated bitcoin section, as well as high roller games and great promos and weekly tournaments, there’s plenty to play for at FastPay. They support the most popular cryptocurrencies for players who want to get their game on.
9. Casitsu – 5BTC + 50 FS
- Tournaments and promotions
- Great crypto bonuses
- Top-quality games
Fun is on the menu when it comes to Casitsu! Play their amazing games from the best developers in the online casino world, and crypto players will be happy to see that they have a dedicated crypto game section. Play card games, table games, and classic slots at this top-notch online casino. You can even take part in their tournaments for a chance at even bigger wins!
10. MaxCazino – 100% up to €1000/0.015BTC + 300 FS
- Crypto bonuses
- Dedicated live casino
- Best games from top developers
This super casino has a huge range of offers for players, ranging from deposit bonuses across their first three deposits to weekly reload and free spin bonuses. Their game selection boasts some of the most popular titles in recent years, including games from Microgaming, PragmaticPlay, and NetEnt. Bitcoin, Ethereum and Litecoin are all accepted at MaxCazino, making a smooth transaction easy for crypto players.
Fast Crypto Withdrawals
The fastest option for withdrawals is hands down crypto. As long as everything goes according to plan, you’re looking at seconds from the initiation of the transaction to the fulfilment of the withdrawal. As the transaction is verified almost straight away, you can then transfer it to an exchange and go ahead and trade away.
Credit cards can take a little longer than eWallets and Crypto, that’s because the bank may need to confirm your transfer. Most of the time it takes a couple of hours, but credit card withdrawals have been known to take up to 3 days to get to you.
Bank transfer is the most secure and reliable way of withdrawing money from a casino. However, not everyone is comfortable with using their bank details online. While it is incredibly secure, it can take up to 5 days to clear your funds. So bear that in mind, often that would not be the norm but it’s possible given their typical processing times.
eWallets are a digital management app, it’s extremely convenient and has become more and more commonly used. All you need to do is link it to your bank account.
You can use this digital wallet for things like online shopping as well as depositing or withdrawing money from casinos. The only issue there is that you would need to take on the additional step to transfer the money to your bank, or to see if your chosen exchange accepts that payment option to buy crypto.
Though, the great thing about eWallets is that the transfers are extremely fast, although not quite as fast as crypto. Just be sure to pick a reputable company when choosing an eWallet to go for.
Types of Games at Crypto Casinos
Most crypto casinos host already popular games in the field. The following though are the favourites in the crypto casino sphere:
Slot machines are an extremely popular game, and also considered to be one of the most popular on crypto casinos. It is essentially a set of reels with different symbols or images. In each game the reels spin and when they stop the wins are calculated. Players win depending on the position of the symbols and the patterns that along with it. It is essentially a game of chance.
Jackpot slots work similarly in principle to normal slots, but the key difference is that their prize allocation differs. Also known as progressive slots, these games vary their payouts depending on how many people have bet.
The more people bet, the higher the payout is, and when someone wins the prize is depleted. The buy in for jackpot slots tend to run a little higher than regular slots. So naturally try to opt for the game you’re more comfortable spending on which has the most exciting possible win.
Table games can be any classic game you’d find at a land casino. This could be roulette, backjack, poker or even baccarat. These games have also become widely available at crypto online casinos, as they’re beloved by players the world over.
Live casinos also bring table games to the comfort of your home by having live dealers who manage the game real time. These dealers will often interact with players and provide a land casino experience in the comfort of one’s home, with players able to interact with them while playing just as if they were in the casino themselves.
How to Deposit at Crypto Casinos
Depositing at crypto casinos is quite straightforward, and depends on your operator of choice. But generally, you may need to follow the following steps
1. Get a crypto wallet
A crypto wallet is a third party software that you can use to store your BTC or other cryptocurrencies. Opening one is quite similar to opening any eWallet account like Skrill, or PayPal.
Probably one of the more popular options out there are Coinbase, Binance, eToro or Kraken. Though there are a myriad for you to choose from just be sure to check their security levels to ensure that you’re content with their security measures.
2. Transfer your coins to your wallet
If you already have coins, then all you need to do is transfer your existing coins to the wallet. If you do not then you may need to purchase some beforehand. Some casinos will have the option to purchase crypto directly from them.
3. Link your wallet to the casino
This one is pretty straightforward, most operators will have the option to link your wallet to be able to deposit. Just go through the deposit options on the casino to have a look. The information on how to deposit using crypto, or how to link your crypto wallet to your casino account, can be found in the banking pages of the casino.
Understanding Crypto volatility
Before getting into crypto, understanding volatility and the inherent risks that come with it is integral to be able to ascertain whether or not you are comfortable with investing in it. It can be a little overwhelming to get into crypto at first, however, knowing and understanding inherent risks related to this market will allow you to trade smarter and perhaps give you an idea on the coins you should look out for.
Volatility Explained and Types of Volatility
Volatility is the way in which an asset increases or depreciates in value and at what frequency. Stable investment options do not largely change value drastically, whereas high volatility assets tend to experience much larger fluctuations in a much shorter timeframe.
In order to ascertain any potential investment risk, volatility is a major factor in picking your investment. Those investment options that yield higher rewards may also carry higher risks associated with them. However, you need to be sure you are willing to take the risk before opting in.
Any investment option, be it stocks, bonds, commodities, or crypto can experience volatility. However, each asset experiences different forms of volatility and at different levels. If one looks at general trends, bonds and large-cap stocks experience little to no volatility. While on the other hand, commodities such as gold, gas and others are more volatile.
Much like gold, crypto is a higher volatility asset. To make matters a little more complicated, the volatility of crypto depends largely on your chosen token. There are some cryptocurrency coins that are directly linked to the price of certain currencies like USD and USDT which don’t experience any drastic shifts in value, whereas other coins are more likely to have more drastic spikes.
What makes Crypto so Volatile?
There are a variety of reasons that makes crypto a volatile asset, the market is still a new one being only about a decade old and remaining largely unregulated. While there has been a rise in the overall market cap, there are also numerous factors that can greatly affect the price of crypto over a short period of time.
Firstly, real world events can affect the value of crypto. This could be a multitude of things, for example, it could be something like electricity prices being raised in a country where mining is conducted.
Secondly, as crypto is a new market and regulatory bodies are still trying to understand what laws and taxes to implement, there can be bumps along the way. There are some countries that have toyed around with a possible crypto ban or have outright banned the tokens. Alternatively, there are also instances where cryptocurrency becomes legal tender in some countries, like in El Salvador. News coverage of regulatory changes is often followed by a wave of volatility.
Another factor that heavily contributes to crypto volatility is its accessibility, the premium to joining the market to start investing is low. While that can be a good thing as it allows more people to take part, it also attracts inexperienced traders. These traders are more likely to succumb to panic selling versus a more experienced investor who is less susceptible to influence.
Mitigating Crypto Volatility Losses
Some people enjoy the volatility that comes hand in hand with Crypto, whereas others do not. There are instances where this inherent volatility allows for investors and savvier traders to take advantage of the ups and downs associated with this virtual token.
For the more risk averse investors, there are strategies available online to mitigate this volatility. More often than not, investors with long term strategies often do not consider the short term volatility of a coin when making investment choices.
When looking at crypto investment or trading, there are three core tenets that one should ascribe to in order to mitigate your losses
1. Do Your Own Research
Researching is key, making sure that the crypto of your choice is still being updated by its dev team and there are still projects underway. Checking that the crypto is still active is a way to mitigate losses, as an active project is more likely to garner attention and hype.
2. Diversity Your Portfolio
Don’t hedge your bets with a single coin, and try to diversify your assets. Doing so will ensure that in case of a drop in value of any of your chosen coin, you will still have money to fall back on.
3. Quality Over Quantity
Trading strategies are all about quality trades rather than quantity. Pay attention to the market, keep up to date with the news and regulatory updates. Ensure that you are on top of your game and this can help you mitigate your losses. Only invest in coins that are worthwhile investing in, which still have ongoing projects and its team is still actively updating.
Best Crypto For Casinos
Getting to know the basics of your cryptocurrency of choice is essential to making good decisions when picking your investment options. Here are the three most commonly used cryptos and their general past trends. We’ll have a look at Bitcoin, Ether and Tether in this section.
BTC is the most well known crypto available out there, known as online “gold” this decentralised digital currency was created back in January 2009. Despite its depreciation in the overall market share, BTC still absolutely dominates the market at approximately 40% of the whole crypto market cap. While this is a contraction from last year’s 80% market cap, it is still the largest currency available on the market.
While it was initially created for the purpose of lower transaction fees, BTC has attracted speculative investors. Therefore, it has perhaps moved away from being a medium of exchange but rather is being used as an investment option.
There is also a limit on how much BTC can be in circulation, which means that as the supply of BTC is running out, the value will only increase.
ETH is another cryptocurrency giant, holding approximately 18% of the entire market at the time of writing. While it is significantly less than Bitcoin, it is still a sizable amount over the market cap, and is in fact the second most valuable coin available; first, naturally, being BTC itself. In fact, the market share of ETH has been steadily increasing, due to the popularity of DeFi, NFTs and dApps.
The similarities end there with the two cryptocurrencies. The first key difference between the two coins is that BTC has a limited supply, whereas the supply of ETH is technically unlimited. Minting a new coin takes a significant amount of time, so there is a technical limit to how many new coins come into circulation yearly.
The exciting thing about ETH is in its role in Ethereum. In order to run dApps, DeFi exchanges and mint NFTs, you would need to stake ETH to fulfil computational equations. So this means that one can technically make a passive income staking their ETH 2.0 with the proof of stake protocol. With people using DeFi and NFTs, there is always a need for both miners and stakers to enter the fray.
Tether (USDT) is a coin that is run on the Ethereum blockchain and is perpetually linked to the price of the dollar. When a coin is linked to a FIAT currency, it is known as a stablecoin. There are a couple of uses to it, as its price will not fluctuate over time, and you can easily trade between USDT and other cryptocurrencies, making the process a lot more streamlined.
For example, if you see that a coin you were investing in has reached its all time high or you suspect it is, you can trade it for USDT, and either keep it there or convert it to another token. In essence, stablecoins aim to be a store of value and allow for liquidity of funds, therefore they offset the volatility of cryptos.
Responsible Gaming & Bankroll Management
Managing your funds is crucial, especially when dabbling in a riskier investment environment like crypto. Responsible gaming tools and tips on bankroll management can assist you with preventing large losses.
Responsible gaming tools
Most casino games come with a timer or a clock on the corner of the game. Keep an eye out on that. Online gambling is an entertaining hobby, but keep track of the time you spend on the game.
2. Deposit limits
You can either set limits by yourself by setting a weekly or monthly entertainment budget, or most online casino operators have the option to set your own deposit limit on their platform. These deposit limits can be daily, weekly or monthly.
3. Professional help
Seek professional advice if you feel anxious about gambling or if you feel that you cannot control your spending. There are support groups out there that can help you through potential gambling issues, and a professional can guide you on your next steps.
If you feel like you need to take a concrete break from casinos, you can also opt to self-exclude. Casinos are required to have the option, and it can be useful for you if you feel like you have to take a break from betting or gambling.
What is a Bankroll?
A bankroll is the amount of money you have set aside to bet or play at a casino. Though that
is not the sole criteria for a bankroll, as it is also the money you can afford to lose without it affecting your day to day. Both players and crypto traders have a bank roll, as players keep one to make sure they don’t overspend in times of an unlucky streak. Crypto traders keep a bankroll to ensure that they have a fallback in times of extreme volatility. For both, bankroll management is paramount when ensuring your funds are well-managed.
Everyone has their own way of managing their bankroll, but here are some tips and tricks on how to manage your bankroll effectively.
1. Be consistent
Find a strategy and stick to it. If you’re more experienced and confident then opt for a strategy of your own, though there are a number of betting styles and techniques out there that you may want to look into, such as the Kelly Criterion.
Crypto is a little bit in the same vein, when devising a crypto strategy, either be ready to ride out the volatility, or trade to a stable coin out when you are on a comfortable up. Either way, you should pick a strategy that works best for you.
If you’re new to crypto gambling, then opt for a game that has a higher rate of return to player and lower variance. While this means that your potential wins may not be as substantial, you will get knack for the game at slightly lower risk.
2. Be ready for any changes
Okay, so while the first tip is to be consistent, the second is to do with hope for the best but expect the worst. No one’s winning streak lasts forever, and do set your bankroll in expectation of that.
Keep in mind, as with what occurred over the last couple of months, sometimes the crypto market can contract drastically. Over January the crypto market saw a crash of approximately $1 trillion USD. The market is only just recovering, after a downturn that lasted about 2 months.
3. Keep separate wallets
Keeping separate wallets might be a little obvious, but it is good practice. Keep one for all your trading and or investment activities and another for your betting and playing. This way you can keep track of your spending, your earnings and the volatility of your assets a little easier.
4. Don’t lose track of your spending
Another obvious tip, but it also shouldn’t be taken for granted. When you are gambling with crypto you’re adding an additional layer of variance, which is the value of your coin. So keeping track of your spending is extremely important to ensure that you’re not exceeding your bankroll.
Whether you are an experienced trader dabbling into online gambling, or a new crypto enthusiast it is good practice to get to know how volatility works and getting to know some tips on managing your bankroll. Once you get the hang of it, you will get a better idea of when to buy in and also, when to sell your crypto.
Though the main takeaways from this article should be, keep up to date with your chosen crypto news, never buy so much crypto that you will not be able to make your rent or bills, do not bet more than you are able to lose, and use responsible gaming tools to assist you when you need.