We live in a day and age where everything has been digitalized, the presence of AI is slowly being normalized, and cryptocurrencies continue to grow. In the online gaming industry – and here at Juicy Stakes Casino – cryptocurrencies have been adopted as a way of providing users with a quick, safe, and robust online banking option.
Initially cast in the shadow of mainstream casino banking, cryptocurrency casino payments have since stepped into the light, shedding their reputation as unsafe and unreliable. As a casino at the forefront of tech advancements, we’ve embraced this new way to transact, which opens up a wealth of banking opportunities for Juicy Stakes players.
This segment contains all the information you would ever need when using cryptocurrency casino payments as your main banking method at Juicy Stakes. Keep reading for the juicy lowdown!
Understanding Cryptocurrency
Before using any form of cryptocurrency it’s advisable to have a bit of an understanding about it. Unlike FIAT currency (traditional currency), cryptocurrency requires a few extra ‘hoops’ to clear before it can be used. Juicy Stakes, like any other online casino, will require you to purchase cryptocurrency before attempting to complete a deposit.
This is because cryptocurrency needs to be stored in a digital wallet. Think of it as a private piggy bank for digital coins. When purchasing any kind of cryptocurrency, you’ll need to do so with a crypto exchange account. It’s crucial to note the fluctuating price of cryptocurrency, so it’s a good idea to buy once the price decreases.
The Pros and Cons of Using Cryptocurrency
As is the case with any online casino banking method, cryptocurrency is presented with a few pros and cons. The good news is that the benefits have come to outweigh the drawbacks! This means that the future of crypto-gaming is brighter than ever.
Let’s look at some of the pros and cons of using cryptocurrency casino payments at an online casino…
Pros: Efficiency
One of the major drawbacks of using traditional banking methods are the slow withdrawal timeframes. At best, e-wallet services have often provided withdrawals within a 24-hour period. The downside of this was that it often compromised the security of the transaction.
This was enough to persuade some players to stick to using debit and credit card options. On the other hand, cryptocurrency deposits and withdrawals are known for their efficiency. The digital currency has proven to minimize the processing period between each transaction.
Cons: Volatility
One of the biggest problems with any type of cryptocurrency is its volatility. This means that the value undergoes rapid changes. For example, you could buy $4 worth of Ethereum today and it could be worth $3 tomorrow. This paired with the constant regulatory changes doesn’t make it a very attractive banking option for many players.
Pros: Security
The worst thing that could happen to anyone gambling online is having their account hacked. Unfortunately, cybercrime is a real thing and not something made up for movies. Cryptocurrency is the most secure currency due to blockchain technology that deploys high levels of data encryption. This indicates that the currency itself can’t be manipulated.
Cons: Trust
The reality is that most people don’t trust using cryptocurrency because it’s new and they don’t understand it. There are plenty of complex factors that need to be considered when using these digital currencies. This could make it challenging for new users and those who aren’t caught up with the digital world. Naturally, the reliability and stability of the currency are brought up, making it difficult for people to accept it.
Cryptocurrencies Supported at Juicy Stakes Casino
Juicy Stakes Casino supports up to 12 banking options. This includes debit/credit cards and e-wallet services. It also supports the use of four cryptocurrency variants such as Bitcoin, BitcoinCash, LiteCoin, and Lightning Bitcoin. Here you’ll find a quick breakdown of each one to determine which is best for you:
- Bitcoin – this is the most popular and trusted cryptocurrency denomination. Bitcoin has proven to hold its value being the most valuable type of cryptocurrency. You could use it to deposit and withdraw cash with limits ranging from $25 to $2,500. The recommended exchanges for this denomination are Blockchain, Kraken, Coinbase, and Bitstamp.
- BitcoinCash – a different type of Bitcoin that features an increased block size that allows more transactions resulting in a higher network and a lower value. This is a cost-effective cryptocurrency denomination that can be used to deposit and withdraw cash from your Juicy Stakes account from $10 to $2,500.
- Litecoin – designed for everyday use, Litecoin is often described as a lightweight version of the more valuable Bitcoin. Since there’s a higher supply of Litecoin, it’s cheaper and allows for quicker transactions. Players can easily use Litecoin to deposit and withdraw cash from their accounts within the range of $10 to $2,500.
- Lightning Bitcoin – as the name suggests Lightning Bitcoin is an incredible cryptocurrency denomination that allows for rapid transactions. You can use this cryptocurrency to deposit and withdraw cash from your account from $5 to $100. Of course, it’s just as safe as other denominations.
How to Use Cryptocurrency to Play Online
There’s no doubt that there are a handful of benefits that come from using cryptocurrency casino payments to play online. Apart from the benefits that were previously mentioned, the digital currency is cheaper and faster than any traditional banking option. It all boils down to the type of cryptocurrency you’ve chosen.
Getting started seems to be the biggest hurdle, as most users don’t know what they should do. The process is simple and we’ve taken the liberty to provide you with a simple guide below:
- The first thing you’ll need is a crypto wallet, which will be used to hold the cryptocurrency you purchase.
- Since Juicy Stakes Casino already supports the use of cryptocurrency, you can go on to register an account with us as your next step.
- Now you’ll be able to deposit your preferred cryptocurrency with a unique address or in some cases a QR code.
- With all the previous steps completed, you can now get started with your online gaming journey!
The process is simple and you can take your time going through it. We also suggest taking a look at the value of the chosen crypto denomination before purchasing. This could give you a bit more bang for your buck at when timed correctly!
Enjoy Easy Cryptocurrency Casino Payments at Juicy Stakes Casino!
Juicy Stakes Casino offers new users a great gaming portfolio, outstanding bonuses, and a variety of banking options. For those who are eager to get started with gaming while using cryptocurrency casino payments, this is the best spot to launch from.
The process might seem daunting at first, but you’ll be up and running in no time. Follow our simple guide and sign up at Juicy Stakes Casino today for the ultimate crypto gaming experience!
