Cryptocurrencies are notorious for their ups and downs, and there are many concerns over their safety. Let’s check some facts about Monero in this regard:
- Unlike other cryptocurrencies, Monero is the only one where users are anonymous by default. Others require this feature to be activated.
- Monero uses three specific technologies to ensure transactions are hidden: RingCT, Ring Signatures and Stealth Address.
- Crypto-friendly casinos that use Monero employ state-of-the-art SSL encryption and other advanced features to ensure data safety and privacy.
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|Did you know?|
|Monero is decentralised, so there are no legal jurisdictions controlling it. It means that you’re safe from capital control.|
How To Use Monero At Online Casinos?
Using Monero in participating casinos is very simple. After registering, you’ll be displayed the various deposit options, including Monero. The same happens with withdrawals.
Are there fees for deposits and withdrawals at the Monero Casino?
Generally speaking, online casinos don’t charge fees for depositing and withdrawing with Monero. However, crypto exchanges charge a variable but small transaction fee when transacting with it.
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How to deposit and withdraw using Monero?
Using Monero for your payments in online casinos is straightforward. These are the steps you need to take, in general. Some casinos might vary this a bit:
- Find out what your Monero wallet address is. Consult your crypto exchange for this.
- Go to your wallet or deposit section of the casino
- Select Monero
- Choose an amount
- Enter your Monero address
- Sometimes you’ll need to provide additional security details such as two-factor authentication or other methods
This is generally the case for both deposits and withdrawals. Sometimes the casino will give you its Monero address instead, so you’ll need to make the transaction directly on your exchange’s platform.
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|Did you know?|
|Monero’s symbol in crypto exchanges is XMR. Be careful not to confuse it with others, such as Xmine (XMN) or X-MASK (XMC).|
Solutions When Having Issues With Monero At Online Casinos
Unfortunately, nothing is 100% issue-free, and you might experience some problems when using Monero. Here are some common situations and how to solve them:
- I can’t use Monero for the casino.
You should check that Monero is accepted by the casino first. If yes, then it’s very likely some of the steps to deposit are wrong. Double-check your Monero wallet address since it may have a mistake.
- I can’t withdraw with Monero.
Some casinos impose restrictions, such as the same payment method for deposits and withdrawals. If you’re registered in such casinos and made a deposit with another method, you won’t be able to withdraw with Monero.
Additionally, some casinos need to verify your data before withdrawals. Check their terms and conditions or contact its support team for guidance.
- What happens if a game stops working when playing with Monero?
Depending on the game, you might be able to continue your session by reloading the page. However, it’s best to contact the casino support team immediately for any game-related issues.
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|Did you know?|
|The support team in casinos is a service and an obligation for reputable casinos with licences. Make sure to contact them without hesitation for any issues.|
Pros And Cons Of Using Monero At Online Casinos
Monero is a fantastic way to fund your casino account. Nevertheless, it has some downsides as well. Here are the most important pros and cons of this payment method:
|Completely anonymous transactions||Transactions can take up to 30 minutes|
|No fees such as wire transfers or check clearing.||Not many casinos take Monero|
|You can access the same casino features as with regular payment methods|
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Monero vs. Other Payment Methods
Monero is perfect for those who want privacy on their transactions. Since cryptocurrencies are volatile, sometimes the opportunity to buy them at a low price is also attractive.
It shares certain features while lacking others when compared to other popular payment methods. Here’s a comparison:
|Features||Monero||Credit Cards||Bank Transfers||PayPal|
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|Did you know?|
|Some casinos have no deposit limit when using Monero or other cryptocurrencies, whereas most do implement some deposit limit for other payment methods.|
Summing Up: Pay with Privacy
Monero is compared to cash in some respects. For example, no other parties are involved in cash transactions other than the payer and the payee. However, Monero goes one step further by keeping your details hidden from the payee (casino, in this case).
If you’re privacy-conscious and don’t want anyone involved in your casino transaction activities, Monero is specifically tailored for you.
Plat it safe! Know about Responsible Gambling and self-exclusion.