Online crypto casino players are searching for gambling platforms that offer support to multiple cryptocurrencies. EOS is one of the most searched digital assets to play on these sites. Thanks to its fast transaction times, fast-growing ecosystem, and reliable network, EOS is becoming an alternative crypto to use at online casinos.
In this guide, we will share with you all the things you should know about EOS for gambling and how you can use this digital currency to play at online casinos.
💡 How does EOS work?
EOS is an alternative blockchain network and digital currency that became one of the best options to play at online casinos. The EOS blockchain, and therefore the EOS digital asset, was created in order to compete against other blockchains such as Ethereum (ETH) or Tron (TRX). Thanks to this approach and a unique governance structure, EOS fastly became one of the largest digital currencies in the market.
EOS is fast to use and also reliable. That means that users can send and receive EOS transactions in just seconds without having to pay the large fees that are currently present on other blockchain networks such as Ethereum. Hence, EOS became a great option for those users that wanted to escape Ethereum’s high-fee ecosystem.
This virtual currency can be used on the EOS blockchain to pay fees and also to engage on different smart contracts. Yes, EOS also enables smart contracts to be deployed on its blockchain network, which means that a rich ecosystem of decentralized applications (dApps) has been expanding over the last few years.
And of course, thanks to its features, EOS became a great blockchain network that supports a large number of online gambling dApps. Compared to Ethereum, EOS became a leading platform supporting the development of casino applications. This was something that only Tron was able to achieve. Therefore, EOS is among the best blockchain networks in terms of gambling dApp development.
Due to the fact that EOS is fast and cheap to use, many gambling enthusiasts have been searching for online casinos that support EOS. Thanks to this demand, more and more online crypto casinos are accepting EOS payments.
👉 How to buy EOS?
Buying EOS is not a difficult thing to do. If you already know how to purchase other digital currencies, then EOS would follow a similar path. Everything will depend on which type of casino user you are.
For those casino players that buy digital assets at crypto exchanges, then the process is very straightforward. You will have to find a crypto exchange that offers EOS trading pair. Then you will have to deposit funds on that exchange using any of the available methods, and you can then purchase EOS.
The process is straightforward. But remember, exchanges add trading fees and withdrawal fees. In general, these fees are quite high and could take a large portion of the purchased EOS, especially if you make multiple small purchases or withdrawals. At the same time, cryptocurrency casinos have added very strict know-your-customer (KYC) controls and checks, therefore, they became less convenient for small and retail players.
This is why cryptocurrency wallets have added buying functions directly on their apps. Despite the fact that wallets rely on exchanges, you will not have to withdraw the funds from the exchange to your wallet if you want to play at online casinos. Indeed, as soon as you purchase EOS, you can easily send them without paying withdrawal fees from your wallet.
Crypto wallets are among the best options for players that want to avoid paying high withdrawal fees. It is worth mentioning that you cannot buy EOS directly at the online casino. If you want to start playing different gambling games, then you need to purchase EOS outside of the casino (for example, using an exchange or a crypto wallet that supports buying and selling).
No matter if you hold your funds in a crypto wallet or an exchange, you can then send your EOS to a crypto gambling site and enjoy your favorite casino games.
🛡️ How to properly store EOS?
Storing cryptocurrencies is also a very important thing to do. It requires you to be conscious of the responsibilities that you have when you buy EOS or any other virtual currency. The easiest way to custody of your coins is by leaving them at an online cryptocurrency exchange, but this might not be ideal from a long-term perspective.
Cryptocurrency exchanges have been attacked and hacked multiple times over the course of the years. Many users lost their coins due to the fact that these platforms were attacked by hackers. Therefore, storing your EOS at an online crypto exchange might not be the best option, especially if you hold a large number of coins.
Considering that you are going to send EOS tokens to the online gambling site multiple times, the best thing to do is store your coins in a software wallet. These wallets are very popular and can be downloaded in just a few clicks to your smartphone or desktop. If you decide to use a software wallet, you will also have custody of your coins alone. Most wallets offer you the possibility to hold your private keys, meaning that you will have to make sure that you properly secure your coins.
A software wallet is the most convenient way to store EOS, as they are easy to use, and they do not have withdrawal fees when you send funds to an online gambling site.
For long-term holders, the best option is to use a hardware wallet to store EOS. You will have to take care of the private keys of your wallet, and you will have to make sure that you know how to use a hardware wallet. For beginners, the best option is a software wallet, but for experienced users and long-term EOS holders, a hardware wallet is the best option, as they are the most secure options right now.
↔️ How do EOS deposits and withdrawals work?
Everything depends on where you are storing your funds. If you are at an online exchange, then you will have to withdraw your funds from the platform to the EOS address of the online gambling site. Note that you can withdraw your funds to any other wallet, but it would add an additional step that is not necessary if you just want to use EOS to play.
The casino will provide you with a deposit address. This address is the one that you need to use to send the funds from the exchange (or wallet). As soon as you withdraw your funds from the exchange to this wallet, the funds should appear on the casino (in your account section).
Now, if you are using a cryptocurrency wallet and you have EOS there, then you will not have to withdraw funds but you will have to “send” EOS from this wallet. Note that there is a different word to describe the same process as in the casino.
While you will be sending funds to the online casino, a wallet does not keep custody of your coins (as long as you own the private keys). An online exchange holds your coins, and therefore, you need to ask “permission” to withdraw your coins to another wallet.
That being said, EOS is an easy digital currency to send and receive. Compared to other virtual currencies, EOS has very low fees, and therefore, it is a great option for you to avoid paying high transaction fees and make sure that the funds you want to reach the gambling site would do so correctly.
🎲 What casino games can you play with EOS?
The games that you will be able to play with EOS will depend on the online casino that you have chosen. Why? Because each casino will decide which games you can play using certain payment methods. In some cases, some casinos might let you play a game using EOS while other platforms might not.
Fortunately, it is possible to play multiple games using EOS at online casinos. Most crypto-gambling sites are already offering different games from a wide range of categories to EOS players.
The larger the number of games at a specific casino, the larger the chances that you will find a game that supports EOS gambling. You will have the chance to play slots, table games, live games, card games, and many others.
As you can see, you will be able to choose between a variety of options in most online casinos, but not every single gambling site might have a large offer of games that support EOS as a payment method.
🪙 What coins can be used for gambling besides EOS?
EOS is not the only digital currency in the market. Indeed, there are many others such as Bitcoin, Ethereum, Litecoin, Tether, Dogecoin, XRP, and Tron, among others.
Bitcoin (BTC) is the largest cryptocurrency in the world and also the most popular one. Every single online casino supports Bitcoin, as it is widely available and game developers make sure that their games can be played using BTC. This coin is easy to use, is not as expensive as other virtual currencies (in terms of fees), and it is relatively fast.
When Bitcoin was congested, Ethereum was the main alternative to process payments. This applied to online casinos as well. Users preferred to use Ethereum thanks to its transaction speeds and low fees. However, as Ethereum became more congested, its transaction fees became higher, which was not the best to send funds to online casinos.
Litecoin is also a great option that is currently available for players at online casinos to send and receive payments. You can fund your account using LTC and you will barely notice the fee. Additionally, this is a very easy-to-use coin and one of the oldest after Bitcoin. Therefore, you should consider this digital asset at the time of deciding which coin to use to fund your casino account.
Dogecoin (DOGE) works as an alternative to Litecoin. It is fast, widely available, and also a very funny digital asset. But its price is more volatile than other virtual currencies. If you can deal with the price of DOGE fluctuating a lot compared to LTC or BTC, then you can go ahead and use this coin.
But there are even faster and cheaper cryptocurrencies that could be used to fund your account at online casinos. XRP is one of these options. XRP is extremely fast. Transactions take just seconds and the fees are below $0.01. If you care about efficiency, then XRP is the right digital currency to use.
🔎 KYC in EOS casinos
Most online casinos and platforms that receive crypto payments are already requiring users to verify their identities and share additional information to be compliant with all the know-your-customer (KYC) rules imposed by regulatory agencies around the world.
You will find KYC checks, especially at licensed casinos. That means that you will have to give private information such as name and surname, address, email, and many other things. Depending on the funds that you deposited and withdrew, you might have to pass multiple KYC checks.
This is a standard thing that is now being requested not only by online casinos but also by many other platforms that handle cryptocurrencies. These KYC requirements have been implemented in order to fight against terrorism financing and also money laundering.
Some online casinos might have lower thresholds than others to request a KYC check. If you are going to be a regular casino player, then you should be ready to complete and pass KYC checks at some point.
But when do casinos request a KYC verification? In general, the verification will be requested as soon as you hit the threshold that the casino established. In other cases, you will have to pass the check as soon as you register your account.
Unlicensed crypto exchanges might not require KYC checks. This is why it is important to always read the Terms and Conditions and check which is the casino’s position on that matter.
✔️ How to choose the best EOS casino to play?
There are many things that you can take into consideration when you select an online casino to play using EOS. Most casinos will have pros and cons, and hence, you need to understand if the platform is reliable in terms of the solutions they offer. The following is a list of things that you could use to understand which is a reliable online casino.
Check their reputation
Let’s start by checking the reputation of the casino. This is something that can be done in just a few simple steps, but it would require you to search online. Reputation is among the most important things to consider about online casinos. EOS gambling sites with a good reputation should be prioritized compared to casinos with a bad reputation.
Read online reviews about the gambling platform. If you find red flags such as frozen transactions or accounts that have been blocked, then you should avoid this platform at all costs. Instead, if you see that a casino has few or no negative comments and opinions online, then you should consider it a casino with a good reputation.
Country check and Terms and Conditions
Make sure that the casino that you have chosen lets you play from where you are. There might be some restrictions that apply to some users. By reading the terms and conditions you will have a clear idea of what the casino lets you do and what is forbidden.
In order to be compliant with international regulations, casinos would also impose geographic bans. If you are playing from any of the restricted countries, then you risk being banned forever from the casino, something that would result in your account getting frozen.
Remember, the Terms and Conditions are the contract between the crypto casino and the player.
Games
Make sure that the casino that you selected offers multiple games and gambling options. This includes a large number of supported payment methods and types of game categories. If you open an account at a crypto casino that only has slots, then you might not have a very complete experience.
Therefore, choose a casino that would support the games that you want to play using EOS. Avoid casinos with just one type of game or a few deposit methods. Additionally, unlicensed casinos might also have some difficulties to offer reliable games.
Welcome offers
Welcome offers are also very important at the time of choosing an online casino to play at. Why? Because with a fair welcome bonus, a casino might distinguish itself from other similar platforms. If the welcome offer has been designed with a focus on the user, then you should definitely prioritize this platform.
Welcome offers are also a great option at a moment in which online casinos prefer to avoid offering bonuses and rewards to users.
Loyalty programs
Loyalty programs are a great way to incentivize users to continue playing. Furthermore, they are very useful if the casino management properly implemented a loyalty program. These programs would not only attract new users, but they would make the whole gambling experience even better.
EOS players want to be rewarded every time they make a bet, and there’s nothing better than offering a loyalty program with a clear reward for users. The more you play, the more you get rewarded. Avoid online casinos with loyalty programs that are impossible to reach or that have been developed just for highrollers.
Withdrawal fees
When selecting an online casino you should avoid all costs platforms that have added withdrawal fees. This is something that is becoming increasingly common at some casinos. However, casinos shouldn’t make money every single time that you withdraw EOS.
The casino platform is already making money with the house edge that they have on each of the games. Therefore, as an EOS player, you should avoid casinos with withdrawal fees.
👍 Pros and cons of EOS gambling
Online gambling sites have multiple pros and cons, especially when we talk about EOS gambling sites. Let’s get into the details of EOS gambling and its pros and cons.
Pros of EOS gambling
- Gambling with EOS is very fun
- It offers unique possibilities to players
- EOS is among the most popular cryptocurrencies in the market
- Transactions are fast and have very low fees
- There are multiple other use cases for EOS
- EOS has a unique ecosystem full of blockchain casinos and other dApps
- It offers a different experience compared to other traditional digital assets
Cons of EOS gambling
- EOS is not among the most popular coins to gamble
- Some casinos might not offer EOS support
- The coin has been lagging behind other altcoins in recent years