Since more and more crypto casinos have been appearing online every year, many players have begun wondering how to go about withdrawing their big win using their preferred cryptocurrency. Here we go into detail about how to withdraw crypto. So, if you’re curious about the different cryptocurrencies that can be used and whether or not they’re better than standard casino payment methods then keep reading!
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Introduction to Crypto Winnings
Once you’ve found the perfect crypto casino and have finally made your way to that big win, it’s time for the most exciting part – withdrawing your prize! Now, not all players are overly familiar with cryptocurrency as a whole, and because it doesn’t work through traditional financial institutions it can seem a little intimidating at first. However, when you decide to withdraw crypto from casino winnings you’ll find the process is not only safe and secure but also quick and easy. Let’s start off by taking a look at the popular cryptocurrencies accepted at online casinos.
Top 3 Cryptos for Withdrawals
If you’ve gambled at a casino that accepts cryptocurrency before then you’ll know that there are loads of different options. Deciding which crypto is best for you can be a little difficult, but to help you out we’ve provided a bit of information about the top three popular cryptocurrencies accepted for withdrawals at online casinos.
Launched in 2013 by Billy Markus and Jackson Palmer, Dogecoin took the crypto casino scene by storm. As soon as players realised that using this method is extremely safe thanks to its use of blockchain tech, the more this crypto began growing in popularity and is now accepted at numerous sites around the world.
Although this crypto is fairly new when compared to methods like Bitcoin, Ethereum is known for allowing players to make withdrawals that are extremely safe. As the world’s second-largest crypto, you’ll find that loads of online casinos accept Ethereum for withdrawals.
This crypto was launched in 2009 and is arguably the most popular cryptocurrency accepted at online casinos. When you use this method to make quick withdrawals online you can rest easy knowing that each transaction is completely anonymous.
Withdraw Crypto Step-by-Step
Keep in mind that although cryptocurrencies process withdrawals instantly, each crypto casino is different. As a result, processing times may differ. Make sure that you visit the Cashier section of your casino or get in touch with customer support to find out exactly how long you can expect to wait before receiving your big win.
Once you’ve landed that exciting jackpot simply follow our instructions below and you’ll be enjoying your prize in no time! Here we’ve provided steps on how to withdraw crypto, using Bitcoin as our preferred method.
Once you’ve signed into your crypto casino account, make your way to the Cashier section of the site.
Select Withdraw and select Bitcoin as your preferred cryptocurrency.
Select your payment option from the dropdown menu.
Enter your cryptocurrency address and the amount you wish to withdraw.
Provide your cryptocurrency password and click on the Withdraw option.
Crypto Used to Withdraw
| Cryptocurrency | Deposit Time | Withdrawal Time | Fees |
|---|---|---|---|
| Bitcoin (BTC) | Instant | Instant | 0.000042 BTC |
| Ethereum (ETH) | Instant | Instant | 0.0039 ETH |
| Dogecoin (DOGE) | Instant | Instant | 1.94 DOGE |
Withdrawals With Crypto VS Fiat
Because no two people are the same, not everyone will feel that crypto is better than classic casino payment methods. However, there are numerous advantages that come with using crypto to gamble online rather than using alternative methods.
In order to decide whether or not it’s the right move for you, you should always start by comparing the pros and cons. Below we’ve listed the pros and cons of using crypto as well as the advantages and disadvantages of using one of the more popular casino payment methods, credit cards.
Because you don’t need to provide any card details or general banking information you never need to worry about potential hackers gaining access to your personal funds.
When you use methods like bank transfers and credit cards, you’ll find that withdrawals take a lot longer to process compared to cryptocurrencies. When you withdraw crypto it’s processed instantly.
Although not all casinos charge a fee, many payment method companies deduct a large percentage of each withdrawal. When using crypto you will also need to pay a fee, however, this amount is often significantly lower when compared to other traditional payment methods.
The Main Reason Players Hesitate When it Comes to Gambling With CryptoYou Could Lose Your Funds: If by chance you enter the wrong details when making a transfer using cryptocurrency, you could lose all of the money you decided to withdraw.
Info Needed to Withdraw
In order to withdraw funds successfully, it’s important to make sure that the information you provide the casino with when you register is 100% accurate. This is because when the time comes to verify your identity, the documents you provide will need to match the information on your casino account. Unlike many of the other payment methods players use to withdraw funds, you won’t need to verify your payment method in order to have your payment processed.
However, you will need to provide proof of your address which could be something like a utility bill, and you will need to verify your identity by sending a copy of your ID or driver’s licence.
Have you ever heard of someone getting the win of a lifetime only to receive much less than they withdrew or, in some cases, receive nothing at all? This happens more often than you think and there are a number of reasons for this. Here we go through three common factors that could end up influencing the success of your withdrawal to help you avoid any disappointment.
Often we neglect reading the Terms and Conditions at online casinos and many players have found themselves running into surprises when the time comes to withdraw. Most casinos will have a maximum withdrawal limit or will state that if players win over a certain amount, the sum will be paid out over time rather than all at once.
Your withdrawal could be unsuccessful if your verification documents don’t match the information you provided when registering. For example, if you made a mistake when entering your birth date and the documents you provide don’t match what’s on your casino account, the site will probably not process the withdrawal. Before you decide to withdraw your crypto winnings, double-check that your personal information is correct and if you notice a mistake, get in contact with customer support right away if there’s no option to change it yourself.
Claiming bonuses may seem like a great idea, and most of the time it is! However, you could run into some issues if you don’t read the bonus terms. If you try to withdraw funds you’ve won using bonus credits but haven’t met the wagering requirements then many casinos will not process the payment and in many cases, you could lose all of your winnings.
Another reason you may not have received the full amount you expected is because when using bonus funds there are often betting limits that need to be followed as well as maximum withdrawal limits. We’ve come across numerous casinos that specifically state in their terms and conditions that players are only able to withdraw up to a certain amount, and any money withdrawn over that amount is forfeited.
Conclusion
Now that we’ve looked at how to withdraw crypto, it’s easy to see how simple the process really is. Although you will need to make sure that the information you use to register matches your verification documents, you won’t need to go through the trouble of verifying your payment method which certainly speeds up the overall process. Each withdrawal is completely anonymous and is instantly processed, making crypto one of the best ways to withdraw your funds.
All you need to provide are your cryptocurrency details, and if you take the time to make sure that no mistakes are made during the withdrawal process you’ll have no problem enjoying your crypto wins.
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FAQ
When you withdraw using crypto, you’ll find that transactions are instantly processed. However, each casino is different and some may take longer to process crypto withdrawals. To make sure you don’t run into any surprises be sure to check out the Withdrawals page or contact customer support.
No. Only players that are legally allowed to gamble online will be able to withdraw crypto at an online casino. This means you need to be at least 18 years old.
Unfortunately, if you enter the wrong information when withdrawing with crypto you won’t be able to retrieve that money.
This depends. Although many casinos won’t charge any fees for withdrawing with crypto, there are some that will.
You will need to provide proof of residence as well as identity documents.
There are a number of reasons your withdrawal could be delayed. For example, if you were playing with bonus funds but didn’t complete the wagering requirements.
Yes. Although you don’t need to verify your payment method you will need to provide proof of identity.
Yes. If you follow the simple steps in our guide on how to withdraw crypto you will find the withdrawal process quick and easy.
Lindsay Cormick inspects all ins and outs of using cryptocurrencies at online casino, cryptowallets and exchanges depositing, and more.
