Playing at online cryptocurrency casinos is always something very positive. We would not only be able to play some of our favorite casino games, but we would also be able to enjoy the benefits of using digital currencies.
There are many different benefits to using crypto at online casino platforms. Some of these benefits include fast and cheap deposits and withdrawals. We all want to start playing as soon as the funds arrive at our account. This is something that we can do if we play with digital currencies.
In this post, we are going to tell you why it is important to select casinos that let you withdraw funds as soon as you win them, why crypto casinos have better services and what tricks casinos use to delay payments to users.
⏱️ Why do crypto casinos operate faster?
Let’s start with the basics: why do crypto casinos are faster than traditional online gambling sites? The question is not as easy as you were thinking. Indeed, there are some reasons that make crypto casinos a better choice than traditional ones.
The first thing that we need to take into consideration is that cryptocurrencies operate in a decentralized way. Most of them run on top of blockchain networks that have different degrees of decentralization and where there is no middleman. This is very important as transactions would get executed independently of the amount, the person requesting the transfer, or the time of the day.
This is different from traditional payments using debit or credit cards that might take some time before they get approved and accredited. Furthermore, bank transfers might even take up to some days if the transfer requires the funds to move from one country to another.
Thanks to the way in which cryptocurrencies have been designed, it is possible to process fast, but also cheap transactions. In this way, deposits and withdrawals can get executed in minutes without requiring a middleman that would approve or reject the transactions.
Of course, there are some networks that are faster than others. For example, Litecoin (LTC) is faster than Bitcoin (BTC) and Ripple (XRP) is faster than Ethereum (ETH). However, all these options would be very useful if you want to deposit funds and start playing as soon as possible at your favorite online cryptocurrency casino.
Another thing that is worth taking into consideration is related to the fact that Bitcoin casinos let you process your withdrawals almost instantly. There would be no bank asking you for further details if you request a withdrawal from an online crypto casino. The payment would be directly credited to your cryptocurrency wallet in minutes. Although some crypto transfers would be faster than others, you should know that using digital currencies would speed up the whole gaming process.
✋ Why could deposits be delayed?
Deposits could be delayed for many different reasons using traditional payment methods. This is something that does not directly involve the casino platform and that can be closely related to the payment method that you use.
For example, deposits will always be slow if you decide to use a bank transfer. These transfers require time and the approval of different branches before they reach the casino. It would happen the same if you want to withdraw funds. This is something very tedious, as you would be all the time checking whether the payment has been processed or not.
Other types of payment systems such as debit and credit cards might be faster than using bank transfers. In some cases, transactions can take up to 15 minutes to be approved. But this highly depends on the company that is processing the payments (Visa, Mastercard, etc).
Furthermore, some bank-backed debit and credit cards might block a transaction that they see looks suspicious. This would create a situation in which you would have to contact the bank that issued your card and manually approve the transaction to the casino platform that you want to use.
Cryptocurrencies are the fastest way to start playing at online crypto casinos. There is a large number of virtual currencies available that you can choose from. In this way, you can easily get your funds in the online casino and start playing your favorite games.
Despite that, there might be some transactions that could take longer, even if you use digital currencies. As you might already know, transactions require several confirmations on the blockchain. If the network is congested, then you might have to wait for a longer time before your transaction is approved.
The best thing you can do is use the fastest and cheapest virtual currencies to avoid using congested networks. This usually happens to Ethereum and Bitcoin, but rarely to other blockchains.
❌ What are the reasons for a delay in the cashout?
There are some issues that would affect your withdrawal request. These issues include taking a long time for the withdrawal to be processed, presenting additional information to the platform, or checking whether your bets have been compliant with the casino rules.
If you want your withdrawal to be processed as soon as possible, then you should avoid requesting a withdrawal using a bank transfer. Bank transfers are usually slower and require more time to be approved.
Thus, if you have requested a bank transfer at an online casino, get ready to wait some days before you receive your funds. There are some exceptions to these rules, for example, if you operate in the SEPA network, in this case, transfers could be faster.
Bank transfers are not the only payment methods that could be slower when compared to cryptocurrencies. Indeed, some other third-party payment methods that are not so common might also have some delays at the time of processing your withdrawals. The best thing to do is to stick to the most popular payment and withdrawal methods in order for your funds to safely reach your account.
Cryptocurrencies are usually the best option to process instant withdrawals if the casino allows them. Considering digital currencies rely on blockchain technology, if there is no network congestion, then your funds should arrive in just a few minutes. You can also track and check whether the transaction has been processed and accepted by the cryptocurrency casino using blockchain explorers.
Another positive thing about using crypto to request an instant withdrawal includes the possibility to check the information about the transaction. As soon as the withdrawal is processed by the crypto casino, you can make sure that your transfer is being processed by the blockchain network.
👎 What tricks do casinos use to delay payments?
There are some online casinos that believe that delaying users’ payments could be a good thing for their business. But we clearly know that this is a very negative practice that should be eliminated from crypto online casinos.
The more the casino takes to delay a cashout, the larger the chances are that this user would never play again at this online casino. Moreover, when a withdrawal is delayed by the casino, it could also mean that there are some issues with your funds.
One of the things that casinos might do in order to delay payments is initiating a KYC check. This would require them to ask for some additional information and documents from you. In some cases, casinos could even request an ID photo and a selfie of players.
Furthermore, you might also have to verify your address if you are betting with larger amounts of money. Thus, it is always very important to get all the documents you might need for a KYC check before you deposit funds in that casino platform. The whole KYC process might even take some days before you are able to see your funds in your wallet or bank account.
During this time, your transaction and documents would have to be scanned by different casino departments, including the compliance team and the AML or financial departments. No matter which casino you use, it is highly possible that they would request additional documents and information. The only exception could be linked to crypto gambling sites that do not have a license and are not required to conduct KYC controls.
⚡ Pick cryptocurrency casinos with Instant withdrawals
Now it is time to select and choose our crypto casino with instant withdrawals. When you process a withdrawal, some casinos might require manual approvals. This means that you will have to wait until the withdrawal receives approval from the casino platform.
There are some casinos that would let you withdraw your funds without having to wait for manual approval. This is very useful as it would reduce the time that you wait for the funds to reach your wallet. These are usually the best casinos, as you would have a much better experience than using other platforms that might require some previous approvals before they release your funds.
Furthermore, due to Know-your-Customer (KYC) and Anti-Money-Laundering (AML) procedures, some casinos would be obligated to request some additional information from you as soon as you request a withdrawal or surpass a certain betting threshold.
Rather than making things easier, casinos must be compliant with these regulations (these are casinos that have obtained a license) and it would take some time before they approve the information that you have shared with them. Thus, if you are a cryptocurrency casino player, get ready to pass KYC processes, which might require you to wait long periods of time to get your withdrawal approved.
Selecting the best cryptocurrency casino to play is not an easy task. The best thing you can do is check different reviews and online information to understand whether the crypto casino that you use would process your withdrawal instantly. You should definitely avoid those platforms that have several negative comments or experienced issues with their withdrawals.
Nonetheless, if there are KYC and AML in place, your withdrawal would have to wait, even if the casino offers instant withdrawals on a regular basis. You can also read in the Terms and Conditions (T&Cs) which are the KYC triggers.
🔍 How do you find out if the casino has instant withdrawals?
If you want to find a cryptocurrency casino with instant withdrawals, then you should make sure that you know how to do so. There are different ways to get information from online casinos and you should be able to check this data.
The first thing that you should do is read reviews. This is definitely important as reviews would tell you whether there are some problems with the casino that you want to use or not. The larger the negative reviews and opinions about a cryptocurrency online casino, the worse it would be for you. It might be better to stay far away from these types of platforms.
Another thing that you can do if you have doubts is talk to a support agent about their KYC and withdrawal policies. They would be able to tell you all the information you should know about KYC processes, deposits, and withdrawals.
Of course, you should always approach customer support with information from the Terms and Conditions. Remember that you should always check and analyze the T&Cs before choosing a platform to play your favorite games.
When you analyze whether a casino could be a good option for you or not, you should also check their bonuses and offers. The larger wagering bonuses they offer, the larger the possibilities would be that you will have to wait longer to get your withdrawal processed. They must make sure that you did not abuse the welcome bonuses or promotions they offered.
Crypto casinos with instant deposits and withdrawals would be the best option for those casual users that would like to have some fun at online gambling platforms. Users that want to play on a regular basis might not be affected as much as one-time players that want to enjoy some casino games online and pay with digital currencies.