Crypto Casinos NZ
Casinos that accept cryptocurrencies make online pokies a lot more convenient, so it’s no surprise that more and more casinos are adding it to their roster of financing methods. With crypto, you can enjoy faster payments, almost instant withdrawals, and enhanced security, to name just a few benefits. Learn more about the benefits of cryptocurrency casinos and how you can get the most out of it.
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What Are Crypto Casino Payments?
If you are an online pokie enthusiast, you’ve undoubtedly seen crypto payments as an option for deposits and withdrawals, but what exactly are they?
Cryptocurrencies are digital currencies based on the science of cryptography for securing and verifying transactions. While often traded as an asset or investment, they can be used to purchase goods or services online, such as buying credits on your favourite pokie site.
The technology that keeps crypto transactions secure is called blockchain technology. This is essentially a super secure database that stores records of transactions between two parties and verifies them with encryption codes.
Cryptos are decentralised, meaning they are not regulated by any government or central bank. Instead, they are created and maintained by a network of users and miners who use powerful computers to “mine” the coins using complex algorithms.
Benefits: Why Use Crypto Payments In Online Casinos?
Crypto payments offer several benefits, with security, convenience, and privacy considered high priorities for all cryptocurrency users. You don’t need to add personal information when using cryptocurrencies, such as credit card and bank account details.
Transfers are instant, so you avoid the delays typical of e-wallets and bank transfers. Cryptocurrencies also don’t recognise international borders, so you can fund your account without worrying about long processing delays or costly international transaction fees.
Pros and Cons of Crypto Payments
|Pros of Cryptocurrency Payments|
|1. Privacy: You aren’t disclosing any personal or financial information with cryptocurrency payments.|
|2. Security: Transactions are highly secure due to blockchain technology, reducing the risk of fraud and unauthorised access.|
|3. Accessibility: You can bypass the limitations and fees associated with traditional payment methods.|
|4. Fast Transactions: When compared to traditional banking methods that might involve delays, crypto transactions are much faster.|
|5. Lower Fees: Compared to traditional payment methods, especially for international transactions.|
|6. Anonymity: While not entirely anonymous, cryptocurrencies offer pseudonymity, allowing players to engage in transactions without revealing their real-world identities. Many reputable casinos will require proof of identity when you sign up.|
|7. Global Reach: They offer potential for financial inclusion to individuals who might not have access to traditional banking systems.|
|8. Innovation: Integrating cryptocurrencies in online gambling showcases technological innovation, attracting tech-savvy players.|
|Cons of Cryptocurrency Payments|
|1. Volatility: Cryptocurrencies can be highly volatile, meaning their value can fluctuate quickly. This can lead to potential losses in the value of deposited funds.|
|2. Learning Curve: Using cryptocurrencies requires understanding how wallets, addresses, and blockchain confirmations work, which might be intimidating for newcomers.|
|3. Limited Acceptance: While the number is growing, not all online casinos accept cryptocurrencies, limiting options for players.|
|4. Regulatory Uncertainty: The legal and regulatory environment for cryptocurrencies and online gambling varies by jurisdiction and can be uncertain.|
|5. Lack of Chargebacks: Cryptocurrency transactions are irreversible, meaning if there’s an issue with a transaction, it might be challenging to initiate a chargeback or dispute.|
|6. Limited Support: Customer support for cryptocurrency transactions might not be as readily available as traditional payment methods.|
Cryptocurrencies Accepted in Online Casinos
Bitcoin (BTC): The first and most well-known cryptocurrency, often referred to as digital gold. It paved the way for the entire cryptocurrency ecosystem.
Ethereum (ETH): Known for its smart contract capabilities, Ethereum allows developers to build decentralized applications on its blockchain.
Tether (USDT): A stablecoin tied to the value of a traditional currency, often used for trading and as a stable store of value in the crypto space.
Dogecoin (DOGE): Initially created as a meme, Dogecoin has gained a cult following and community, often used for tipping and charitable donations.
Litecoin (LTC): Created as the “silver to Bitcoin’s gold,” Litecoin is often used for faster and cheaper transactions.
Stellar (XLM): Similar to Ripple, Stellar focuses on facilitating cross-border transactions and providing financial services to the unbanked.
Bitcoin Cash (BCH): A fork of Bitcoin that aims to provide faster and cheaper transactions.
Deposits and Withdrawals – How To Deposit\withdraw Crypto Casinos
The first step to using crypto to fund your online pokies account is to choose a cryptocurrency and set up your account. Not all online casinos accept cryptocurrencies.
If you have a favourite pokie site, you’ll want to check their payment and withdrawal options and go with whatever cryptocurrency they accept.
Practice caution when choosing a cryptocurrency exchange because scams and fraudulent sites are ready to steal your personal information. Here’s how to stay safe.
First, check that the exchange is associated with a physical address. A physical location that you can visit in person is a good sign of transparency and legitimacy.
Next, check the reputation of the exchange. Always research what people are saying about any exchange you are considering. Has the exchange had security issues? If so, how did they address them? Dig deep and heavily scrutinise any negativity before signing up.
Good security is critical with cryptocurrencies. It might seem counter-intuitive, but the more complicated the exchange makes it for you to sign up, the more secure they will likely be.
Once you’ve settled on a cryptocurrency, check the fee structure and consider how it will affect your use of the currency. Highly active players making daily transactions should carefully consider this feature of cryptocurrencies, as some charge more than others.
Don’t forget about blockchain transaction fees, which are payments made to blockchain participants who add their computing power to the network.
Here’s how the deposit process withdrawal will work:
Crypto Casino Deposit
- Creating a Wallet: You need a digital wallet to store your cryptocurrency. A digital wallet is a virtual bank account where users store, receive, and send cryptocurrencies. There are various wallets, including software, hardware, and online wallets.
- Depositing Funds: Players can choose the cryptocurrency deposit option in the online casino. You will receive a wallet address (a long string of characters) to send the desired amount of cryptocurrency. This can be done by scanning a QR code or copying and pasting the address.
- Blockchain Confirmation: Cryptocurrency transactions are verified and recorded on a blockchain, which is a decentralised and transparent digital ledger. Depending on the cryptocurrency and network congestion, a certain number of confirmations from the blockchain network are required before the casino credits the deposited funds to the player’s account.
- Account Crediting: Once the required confirmations are received, the online casino will credit the player’s casino account with the corresponding amount in the chosen cryptocurrency. Players can start playing casino games using these funds.
Crypto Casino Withdrawal
- Winning and Withdrawing: When you win, you can head to your casino’s cashier/banking section to start the process. You can withdraw your winnings as your cryptocurrency of choice, such as Bitcoin or Ethereum.
- Select the Cashout Amount: Enter the amount you want transferred to your cryptocurrency wallet. You will need to know the withdrawal limits imposed by the casino. You can find this information in their terms.
- Withdrawal Process: Provide the casino with your public cryptocurrency wallet address to withdraw your winnings. The casino will then initiate the withdrawal process.
- Wait for Your Winnings: In most cases, transfers are almost instant. However, they can take up to 48 hours to show up in your account.
How Safe and Secure is Cryptocurrency in Online Casinos?
Online crypto payment methods such as Bitcoin, Ethereum, and Litecoin have the potential to revolutionise online gambling. The technology behind digital currencies offers a level of security that traditional payment methods struggle to match.
While there is always a risk of fraud and hacking, these are much lower than the frequency of exploits experienced by other deposit and withdrawal methods, including the big banks.
While many online casinos require you to verify your identity, cryptocurrencies create an extra layer of security because you are not sharing your financial information with the casino.
The casino only gets your public wallet key, which means hackers who manage to access the casino’s data cannot get the information necessary for accessing your crypto wallet.
Cryptocurrency casinos we recommend must share the following features:
● Security and privacy guarantees: We place high priorities on our readers’ security and privacy, which is why we pay a lot of attention to the efforts online casinos put into keeping your information locked up tight and away from prying eyes, such as SSL encryption.
● Fairness: All games have an inbuilt advantage to the house, but online punters should still expect fairness in their gaming sessions. This is why we check that casinos use testing labs like eCOGRA, Gaming Labs International (GLI), or iTech Labs, which help keep online gambling fair and honest.
● Licensing: Every casino we recommend will hold a license from a reputable watchdog such as the Malta Gaming Authority or the UK Gambling Commission.
Our Verdict on New Zealand Cryptocurrency Casinos
When you consider the level of convenience, security, and speed that cryptocurrencies bring to the table, it’s only natural that online casinos will want to include them in their list of options.
As cryptocurrencies become more accepted in the mainstream market, we fully expect this adoption trend to continue.
Using cryptocurrencies to fund online casino accounts adds to its appeal, especially for players who value convenient, fast, and secure transactions that give them peace of mind about the security of their funds.
How Do We Rate?
Our team of professional analysts use their decades of experience to hunt down and report on only the best cryptocurrency casinos.
It’s more than just checking their deposit options; they must also show a commitment to their players with exceptional service and tons of variety. Here’s how we rate New Zealand cryptocurrency casinos so that you can make an informed choice:
Payment Options: Every online casino is different, so we look for those that offer many different options for payments and withdrawals. While Bitcoin was the first and still the most popular cryptocurrency, it’s not the only one.
As more cryptocurrencies enter the market, players have options, including Dogecoin, Ethereum, Bitcoin Cash, Litecoin, Tether, and Ripple.
We consider these six, plus Bitcoin, to be the absolute baseline. Still, there are many more ways to fund an account that we need to evaluate as well, including bank transfers, e-wallets, and payment gateways like PayPal.
Other features we look for include:
Payout Speeds: It’s always nice to win, but it’s also satisfying to see your newfound funds drop into your cash account fast and without hassle.
Minimum Deposit: We all have a budget, so we consider low minimum deposits to be a point in favour of the casino. We also check minimum deposits for claiming a bonus, as these can differ from the standard minimum.
Transaction Limits: All casinos impose different conditions on deposit and withdrawal limits. Most casinos allow you to only withdraw up to a certain amount every month. If you’re lucky enough to land a windfall larger than the withdrawal limit, you will have to split the difference and wait for the next month to roll around.
Cashier Experience: We look for transparent payment policies and convenient financial options that make funding your account as seamless as possible. We can’t recommend casinos that have complex demands when it comes to making payments or getting withdrawals.
Crypto Pokies Bonus: Promotions are a fantastic way to increase your budget and give you more time playing pokies. However, we know that bonuses are there to entice new players and are not always what they seem. For this reason, we check each bonus offer carefully, including the fine print, so our readers always know the actual value of an offer.
General Crypto Casino Experience: Your deposit and withdrawal experience is just one small part of your engagement with a casino, but there’s much more to consider. The best crypto pokie experience can only be had when all the features of the casino come together to produce a safe, reliable, and enjoyable experience. You also need a great selection of pokies, an efficient and knowledgeable support team, and a mobile-friendly site or a dedicated app.
Don’t Have Crypto? Use These Options Instead
Just because a casino offers crypto doesn’t mean you shouldn’t consider other financing options. Some of our favourite deposit options include:
PayPal Casinos: Everybody knows about PayPal by now, which is preferred for its ease of use, speed, and availability.
Visa Casinos: This is one of the most popular credit card banking options and is almost universally accepted at NZ crypto casinos and around the globe.
Paysafecard Casinos: If you prefer complete control over your gambling budget, a prepaid card is the way to go. You can buy it with cash and use the card to deposit funds straight into your account without entering any personal banking details.
Crypto Gambling Sites FAQ
- What New Zealand pokie sites accept cryptocurrency?
The list is growing daily, but we recommend trying out JackpotCity, Spin Casino, 7bit Casino and Lucky Days. Sign up for our regular newsletter to stay informed about the latest cryptocurrency casino news.
- What makes crypto casinos better?
Crypto alone doesn’t make a great casino, but it sure can make things safer and more convenient for those who have jumped on the crypto bandwagon. For starters, you aren’t handing over sensitive banking details. You can also score some decent bonuses just by signing up with cryptocurrency.
- Are cryptocurrency casinos safe?
Every online casino is different, with some being more lax in security than others. While cryptocurrency goes a long way to keeping your funds secure, you are still at the mercy of the casino and its policies. We rate every casino for reliability and honesty and won’t recommend any that don’t operate with a license from a relevant gambling authority.
- How do I make a withdrawal from a cryptocurrency casino?
Cryptocurrency withdrawals will be handled the same as any other withdrawal method. Head to the website’s cashier’s section and select your cryptocurrency from the available options. Enter how much you want to withdraw, add your public crypto wallet address, and wait for the funds to appear in your account.