Cryptocurrency is one of the most popular new online casino games on the market today, rather than playing with real money, you can win virtual coins that you can use to gamble at any of the top cryptocurrency slots sites.
Instead of playing slot machines with a traditional currency like dollars or euros, you’ll be betting in virtual tokens that represent the value of a digital currency.
What are Cryptocurrency Slots?
Cryptocurrency slots are played via a web browser and are based on a virtual card game framework, unlike regular slot machines, cryptocurrency slots don’t rely on a random number generator to make each outcome random.
Instead, they use blockchain technology to generate a unique outcome for each spin, the most well-known type of cryptocurrency slots is the online casino game that lets you bet on the winning outcome of a poker hand.
You’ll typically see a poker hand between two cards: a high card usually the jack or queen and a low card usually the 10 or 9, the game then randomly picks one of the two cards to determine the outcome of the casino game.
Some online cryptogames casinos allow you to choose between a selection of pre-designed poker hands and let you choose your own stakes but most slots let you pick a random poker hand from a range of preset hands, you’ll then choose the payout odds you want.
Most cryptocurrency slots let you pick a payout odds range between 1:2 and 10:1. So if you pick a 10:1 payout odds, you’ll only get back 10x your stake if you win this means that you don’t have to tie up large sums of money if you lose.
How to Play a Cryptocurrency Slot Machine
After signing up with an online casino that accepts cryptocurrency, you’ll choose a game to play and deposit any cryptocurrency you want to bet, you can then choose a cryptocurrency deposit amount and withdrawal amount.
You’ll be able to withdraw your winnings in the same way. Your cryptocurrency deposit will usually be credited to your online casino account immediately, but withdrawals can take anywhere from a few hours to a few days.
When it comes to withdrawing your winnings from the online slots game, you can either cash out or transfer your winnings to another online casino.
When you’re ready to gamble, log in to your online casino account and choose the withdraw option, select your cryptocurrency deposit amount, and you’re ready to go.
Is It Safe to Gamble with Cryptocurrency?
The most important thing to keep in mind when gambling with cryptocurrency is that you are still playing with real money and there are no guarantees that you’ll win, and you could lose a lot of money if you don’t know how to play the game.
There are also several safety precautions you can take to protect yourself while gambling with cryptocurrency.
First, never gamble more than you can afford to lose. If you lose your entire cryptocurrency deposit, it isn’t like losing money at a regular casino, there aren’t any laws that protect consumers who lose money in online gambling.
You could lose your entire cryptocurrency deposit and never see it again also, make sure you securely store your cryptocurrency wallet and private keys the key code that unlocks your wallet and lets you access your funds somewhere offline. Online casinos are not responsible for holding your funds for you and they’re simply a digital ledger of who’s winning and losing in the online gambling world.