Cryptocurrency gambling is experiencing widespread adoption and more users are wishing to use it for their online gaming activities. Some sites offer Bitcoin Gambling while others already offer deposits and withdrawals in various cryptocurrencies and this is something that will continue into 2021.

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It’s no longer enough to just offerBitcointransactions on your iGaming site. Some users may want the choice to switch to fiat as well and you should provide the execution of transactions in a variety of different coins such as:

• Etherum
• Litecoin
• Monero
• DASH
• Bitcoin Cash.

Cryptocurrency was once a niche market but it is now widely accepted and adopted. You can be paid in crypto, buy a house with crypto, do your weekly shop with crypto, and of course gamble with crypto. This application of the technology on everyday activities has led to peoples perception of it improving. It is now recognised as something with value, benefits, and that is secure and trustworthy. Incorporating crypto payments into your site is a must, read on to learn why…

The expected rise of Cryptocurrency Gambling

Those that have been seeking a greater level of privacy in their financial transactions have been increasingly drawn to cryptocurrency gambling due to its decentralized nature. Virtual currencies such as Bitcoin, Monero, Ether and various other cryptocurrencies have become increasingly more popular, particularly in the online gambling sector.

As we move into 2021, both players and operators are becoming more aware of the benefits of cryptocurrency gambling. Bitcoin Gambling Casinos and Sports betting platforms which accept crypto payments are successfully using it as a selling point and growing their client base. Additionally, other platforms and startups will show a willingness to adopt cryptocurrency as a valid form of payment.

The increase in its popularity and adoption is due to several factors that are particularly beneficial to the online gambling market. Benefits such as instant transactions, low fees, and anonymity all play a part in the way it is continuing to successfully infiltrate iGaming. This, in turn, is likely to contribute to an increase in players that are drawn to Bitcoin gambling, resulting in an increase in revenue across the board.

Benefits of Cryptocurrency gambling

Cryptocurrency and Bitcoin gambling i

Cost-Efficiency and Low Transaction Fees

From an online gaming license holders point of view, providing crypto payments on your online gambling site also has many benefits. Merchants can often negotiate better rates for conventional payments but still, a big chunk of income is lost on paying fees to payment service providers. But with cryptocurrency payments, things are rather different. Some of the leading crypto payment gateways charge as little as 0.5% which is significantly less than fiat currency competitors. By providing for crypto payments on your site, you can funnel a large percentage of your revenue through a payment method that saves you a fortune on processing fees.

Instant and Borderless transactions

Chances are, your customers will not all be located in one country. Therefore, offering cryptocurrency payments means that your international client base can enjoy instant cross-border payments and transactions. The transaction is completed in a matter of seconds and it’s secure, immutable, and private. The best thing is that even those without a bank account or credit/debit card can send crypto paymentsmaking online purchasing and playing accessible for all.

When you transact in cryptocurrency, you don’t have to wait for it to be processed or clear and you certainly don’t have to pay international fees. Anyone with an internet connection can send a cryptocurrency transactionwhen they want, to whom they want, and for how much they want.

Privacy & Transparency on Cryptocurrency and Bitcoin Gambling

Cryptocurrency transactions all take place on the blockchain– a decentralised ledger that is completely immutable. This means that once a transaction is made, it is permanent and cannot be reversed, edited, deleted, or otherwise tampered with.

This means that the risk of fraud, identity theft and counterfeit payments are significantly reduced. Crypto payments provide both online gaming license holders and players with an extra layer of security.

No chargebacks on Crypto Payments

Businesses bear a lot of losses from chargebacks. This is where a customer makes a card payment, receives the item, and then reports the charge as fraudulent to get it refunded. There are

New technology savvy generations

The market is particularly popular with Millenials whose spending power is increasing as they progress through their thirties. Cryptocurrency payment facilities will allow you to share this forward-thinking and progressive group of consumers and entice them to use your services. Integration of cryptocurrency in your business is a smart move for those looking to engage this market.

Considering all of the benefits above, we can expect to see a significant increase in the number of crypto payments, particularly in the gaming sector, over the next few years. As far back as 2013, Bitcoin gambling transactions accounted for as much as 50% of all Bitcoin transactions. Bitcoins popularity has significantly increased since then. These figures show that incorporating cryptocurrency into any iGaming platform is no longer an option, it’s a necessity.

Jesus Coin Cryptocurrency

The cryptocurrency was once a niche market but it is now widely accepted and adopted. You can be paid in crypto, buy a house with crypto, do your weekly shop with crypto, and of course gamble with crypto. This application of the technology on everyday activities has led to peoples perception of it improving. It is now recognised as something with value, benefits, and that is secure and trustworthy.

But it’s no longer enough to just offer Bitcoin transactions on your iGaming site. You need to provide the execution of transactions in a variety of different coins including Etherum, Litecoin, Monero, DASH and Bitcoin Cash.

World’s Finest Crypto Jurisdictions for Cryptocurrency Gambling

When it comes to cryptocurrency gambling, there are two kinds of jurisdiction. The first are those that have created a legal framework to nurture and develop the industry, and those that haven’t. Some operators choose to work in jurisdictions that don’t have the necessary frameworks in place but this is something of a grey area. It can lead to issues with third parties, advertisers, software companies, and banks, as well as potential issues with the authorities.

Fast Offshore recommends only working in reputable jurisdictions that have an adequate structure in place to regulate and oversee the industry. Doing so helps you boost your credibility and stay on the right side of the law. Our top four crypto jurisdictions for gaming are:

Curacao

Curacao is a prime jurisdiction for gaming and crypto gaming startups. They have been in the iGaming business since the mid-’90s and offer one of the most cost-efficient, quick, and simple licensing processes around. In addition to that, they are crypto-friendly and those with a Curacao gaming license are welcome to offer transactions in a range of cryptocurrencies and virtual coins.
Those that opt for a Curacao license for their crypto gaming company can enjoy 0% tax and VAT, quick and straight forward licensing, and a simple setup process with minimal red tape and bureaucracy.

We tend to recommend Curacao as the perfect jurisdiction for startup crypto gaming companies. The low costs involved in the process in-country means they can prove their concept and get the company in good financial shape before seeking to license in another jurisdiction.

Kahnawake

Kahnawake’s online gambling license comes with a solid reputation. The Gaming Commission is known for its zero-tolerance approach to violations of fair play, underage gaming, or any criminal activity. As such, a license from them carries weight when it comes to negotiating with third parties or setting up bank accounts. They are also welcoming to online gambling companies that want to offer cryptocurrency payments.
The setup costs more than Curacao but significantly less than Malta, ongoing fees are affordable as well. In terms of timescale, everything can be done within a few months. While there is more paperwork to get through when compared to Curacao, there is less than in Malta or other crypto jurisdictions.
Those acquiring a Kahnawake crypto gaming license can enjoy 0% tax rates in Kahnawake as well, meaning there is more liquidity for expanding the business going forward.

Malta

Recently, the Maltese government has taken steps to incorporate crypto into the market. They became the first country in the world to create a comprehensive legal framework for cryptocurrency, blockchain, and virtual assets. Nicknamed “The Blockchain Island”, Malta is home to blockchain startups, crypto exchanges, and several gaming companies that offer transactions in a variety of cryptocurrencies.
The Malta Gaming Authority is by far the most reputable in the world and the license comes with a hefty price tag. But for those with the capital to invest, or established iGaming companies, it is a solid option. The Maltese government is extremely ‘pro-business’ in their approach and there are a wealth of benefits to operating a Maltese crypto gambling company. These include some of the lowest effective corporate tax rates in the EU and access to a highly-skilled, English speaking workforce.

Costa Rica

The Central American country of Costa Rica does not offer an online gambling license. Companies are allowed to incorporate a company where the purpose is online crypto gambling and they are then allowed to conduct activities from Costa Rica. In terms of cryptocurrency, the Costa Rican government is very pro-crypto and supports the growth and development of the industry. Again, they take a somewhat hands-off approach which is great for startups that are finding their feet.
Incorporating a crypto gaming company in Costa Rica does come with some challenges. There may be difficulties. Likely, you won’t be able to get a conventional bank account, which is ok if you solely want to transact in crypto. We recommend launching your platform in Costa Rica, ironing out any issues, honing your offering and then going for licensing elsewhere.

Questions about Cryptocurrency Gambling? Contact Fast Offshore

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Bitcoin Chaser - August 10, 2020

When Bitcoin was invented in 2009, few could have predicted that it would have been the start of a multi-billion dollar industry. Just over ten years later we’ve seen the growth of the cryptocurrency market, and the thousands of altcoins that have popped up. Today, the cryptocurrency market is worth a whopping $353 billion USD (at the time of writing), with Bitcoin at the helm. However, altcoins like Ethereum, Bitcoin Cash, Ripple and Litecoin are equally important, and all bring something new to the space. Cryptocurrencies have revolutionized the way we do many things – including gambling. Crypto and altcoin casinos make up a large proportion of the online gambling scene, and they’ve changed the way we play in numerous ways. We’ll be taking a look at the best altcoin casinos, so that you can start crypto gambling the right way.

The Best Altcoin Casinos

Now, let’s dive into the juicy part of this article. When you first start crypto gambling, you’ll want to ensure that your chosen altcoin casino is trustworthy, established, and has a solid selection of games. A generous welcome package is plus too. We’ve determined which altcoin casinos we like to play at, and we think they’ll suit you well too.

BitStarz

Bitstarz is arguably one of the more established altcoin casinos on the market. Having launched in 2014, this casino is home to thousands of fantastic games, including video slots, virtual games, live casino games, table games, and more.

How To Gamble With Bitcoin

It’s a fiat and altcoin casino, so you can play with Australian dollars, Canadian dollars, Chinese yuan, Euros, Japanese yen, Norwegian kroner, New Zealand dollars, Polish zlotys, Russian rubles, and US dollars, as well as Bitcoin, Litecoin, Dogecoin, Ethereum, Bitcoin Cash, and Tether. Deposit and withdrawal speeds will depend on your chosen payment method – with a speed range between instant and 5 days.

Greenspin

GreenSpin casino is an altcoin casino that accepts Tether, Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dogecoin. It was established in 2020, making it a newer online altcoin casino. GreenSpin is socially responsible, and offers a massive selection of games, various payment methods, and solid promotions and bonuses.

At this altcoin casino, players can gamble on slots, jackpot games, live casino games, table games, and more. GreenSpin also accepts a range of fiat currencies, but their transaction speeds are much slower than the crypto options.

Kingbit

KingBit burst onto the altcoin casino scene in 2019, and quickly made a name for itself thanks to its incredibly generous bonuses and wide game selection. Players can gamble with altcoins including Ethereum, Litecoin, Ripple, and Tether, as well as Bitcoin.

KingBit casino has a huge selection of the top casino games in the world, from providers such asEzugi, Mascot Gaming, BetSoft, Wazdan, Nolimit City, Sinomenal, Pragmatic Play, Booming Games, and Reel Time Gaming. Players will find slots, scratch cards, table games, jackpots, virtual games, video poker and video bingo.

BetChain

The top altcoin casino on our list of the best altcoin casinos in 2020 is BetChain. BetChain launched in 2014, and is one of the most well-loved altcoin casinos on the market. It offers players fantastic bonuses, a huge range of altcoin casino games, ease of use, and reputable online gambling.

Players will find slots, poker games, video poker games, card games, provably fair games, live dealer Games, and much more, all available to play with Australian dollars, Canadian dollars, Euros, Norwegian kroner, Russian rubles, and South African Rand, as well as Bitcoin, Litecoin, Dogecoin, Ethereum, and Bitcoin Cash.

A Bit More About Altcoins

An altcoin is any cryptocurrency that is not Bitcoin. Bitcoin, the original cryptocurrency, was invented in 2009 by Satoshi Nakamoto. Satoshi is the anonymous founder of the entire cryptocurrency industry, as his invention went on to spark the growth of all digital assets.

At first, cryptocurrencies were largely seen as a fringe idea. However, the crypto bull-run of 2017 changed all of that. Cryptocurrencies had already grown in popularity by that point, but when Bitcoin’s price peaked over $20,000, things started to change dramatically. Altcoins, forever on the trail of Bitcoin, swiftly followed suit, and the entire digital asset market swelled.

Cryptocurrency Gambling Coins For Sale

Today, cryptocurrencies like Ethereum, Ripple, and Bitcoin are household names. The crypto market has grown in leaps and bounds, and sparked the creation of alternative industries like the crypto gambling scene. Many casinos accept both fiat and cryptocurrency options, and altcoin casinos are on the rise.

How to Buy Altcoins

If you’re looking to start gambling at altcoin casinos, it’s probably a good idea to first acquire some altcoins. Let’s take a look at the top five altcoins at the moment, according to CoinMarketCap.

• Ethereum: Established in 2015. First to introduce the concept of “smart contracts”. Available at most crypto casinos.
• XRP: Founded by Ripple. Used often in the remittance industry – not decentralized.
• Tether: A stablecoin that works on a 1-to-1 basis with the US dollar.
• Bitcoin Cash: A fork of the Bitcoin blockchain.
• Bitcoin SV: A fork of the Bitcoin blockchain.

When you’re looking to start playing at altcoin casinos, you should first decide which altcoin you want to play with. Any of the top ten cryptocurrencies by market cap will be fairly accessible, and easy to buy.

When you want to trade altcoins, you’ll need to do so over a cryptocurrency exchange or trading platform. Exchanges like Binance and Coinbase are established and trustworthy, and allow you to buy altcoins with your credit or debit card. All you need to do is sign up, complete a KYC process, and have a crypto wallet where you can store your digital assets.

Altcoin casinos will then have a specific address for you to deposit into. Usually, the funds will be credited to your account instantaneously – although it does depend on the coin of your choosing. Different coins have different transaction times.

Start Playing the Top Games at Altcoin Casinos Today

Is It Legal To Gamble With Cryptocurrency

Now that you have a comprehensive list of the best altcoin casinos, you can start playing the very best games the industry has to offer. From slots to video poker, table games, scratch cards, live casino games, and more, there’s nothing that these altcoin casinos can’t do.