NEO, as one of the most popular cryptocurrencies in the market, continues to become accepted at a larger number of crypto casinos. Now, players from all around the world have the possibility to use NEO and play their favorite casino games online.
Most cryptocurrency casinos are currently accepting some of the top 20 assets, but there has been a strong push from the NEO community to get included in the list. This is the reason why we see that users can now deposit this coin on a wide range of crypto gambling websites from all over the world.
NEO offers many advantages compared to other digital currencies. Due to this reason and many others, NEO is being supported by many entities. The goal of this guide is to share with you all the details that you should have about NEO casinos. We will tell you the most important things that you should know about using it to play at online gambling sites.
💡 How does NEO work?
Let’s start from the very beginning with our understanding of NEO. What is NEO? This coin is currently one of the top 100 largest cryptocurrencies in the world. Indeed, it was once one of the top 10 digital currencies in the market.
This project was known in the past as Antshares and it was also considered to be the “Chinese Ethereum” due to the fact that it had a focus on the Chinese market. The goal was to offer new solutions to companies in China (and other countries) in a similar way to Ethereum.
NEO has recently released the NEO 3.0 project in which they make the network much more secure and efficient to be used. One of the things that we should take into consideration about virtual currencies is that they should be useful to process a large number of transactions for very low fees. This is what NEO tried doing with its new NEO 3.0 project.
Additionally, you should know that NEO has two tokens on its network: NEO and GAS. GAS is used to pay for transactions on the network. It is worth pointing out that NEO is easy to use if you know how to use digital currencies.
👉 How to buy NEO?
But let’s get into the details of how to buy NEO. If you want to play at some of the most popular online casino sites, then you will have to buy NEO from one or another place. The easiest way to purchase NEO is by doing so using a cryptocurrency exchange. There are many crypto trading platforms in the market.
Nowadays, you can buy NEO using debit and credit cards or bank transfers, depending on the cryptocurrency exchange that you use. Additionally, you can also use other virtual currencies to get access to NEO.
Another way to purchase NEO and use it on different gambling sites on the internet is by using a crypto wallet that includes buying functionalities. In this way, you will be able to directly buy NEO from your wallet rather than using an exchange and paying for the withdrawal fees.
The best thing to do is to buy NEO using a crypto wallet. This would be very beneficial to you if you want to send many NEO transactions to online casinos. Wallets do not apply withdrawal fees. Instead, crypto trading platforms (exchanges) would make it more difficult for you to withdraw funds as many times as you want (you have to pay a fee).
🛡️ How to properly store NEO?
This is also another topic that we have to discuss in this NEO gambling guide. It is very important to know how to properly store NEO and other virtual currencies. Failing to do so could result in our funds getting stolen or lost forever.
The easiest way to hold NEO is by simply keeping it on your cryptocurrency exchange. However, this might not be the most secure option available. Indeed, if an attacker targets the exchange, you could lose all your funds if they succeed with their attack.
When you hold your NEO in a software wallet (to which you hold your private keys), you will be able to control your coins and make sure that you will not lose them after being targeted by a hacker. This is also the best way for users that want to send and receive NEO on a daily basis or use the coins to play at different online casinos.
Another thing to take into account is that if you want to store NEO for the long term, the best thing to do is to buy a hardware wallet. Hardware wallets are the most secure devices to store digital currencies and became a standard for large crypto holders.
↔️ How do NEO deposits and withdrawals work?
It is now time to understand how NEO deposits and withdrawals work. This is key to know how to send funds to a gambling site and how to withdraw funds from these types of platforms. If you already know how to use Bitcoin or any other virtual currency, then you clearly have an advantage. Instead, if this is your first time using NEO, then you need to pay attention to the following things.
One of the most important things that you should consider when using digital currencies is that you are responsible for them. If you make a small mistake in the deposit or withdrawal address, then you might lose your funds.
Hence, when you deposit funds, make sure that you have properly copied and pasted the wallet address. Moreover, you should also understand how payments work and that once the payment is sent, you cannot recover it or request it back. It is sent and the NEO blockchain will process it immediately.
As you can see, if you want to play at online casinos using NEO, you should pay close attention to details. NEO is a very useful virtual currency, but it requires you to be careful on how you use it on a daily basis.
🎲 What games can you play with NEO?
Let’s focus on the games that you can play at online casinos using NEO as a virtual currency. The games that you will find on the platform that you selected will highly depend on the casino and whether they have partnerships with some of the largest software providers in the gambling industry.
The best possible way to find the games that you want to play at online casino sites is by filtering by currency (choosing NEO) and by the game that you’d like to play. This would make it easier for you to get access to some of the most popular games and use NEO as a payment method.
Most crypto casinos are currently offering a wide range of games that you could play with NEO. The best gambling sites will have table games, live casino games, card games, slots, and many other types of options that you would be able to select from in the casino platform that you have chosen.
In some cases, casinos could offer bonuses and rewards to users that play with a specific virtual currency. Despite the fact that it might be difficult to see NEO-focused promotions and bonuses, it is always a good thing to check which are the bonuses offered by the casino platform.
🪙 What coins can be used for gambling besides NEO?
It is clear that there is a large number of virtual currencies that we could use in order to play online casino games. Some of these currencies include Bitcoin (BTC) – the most popular digital currency in the world – Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Dogecoin (DOGE), Tether (USDT), and Monero (XMR), among others.
Bitcoin is the largest and also the most popular cryptocurrency in the world. It is now supported by most online casino exchanges that are crypto-friendly and it lets users get access to very large liquidity in different exchanges. This is one of the best digital currencies to use to play at online casino platforms.
Another virtual currency that became very popular in the last few years is Ethereum. It was mostly used to process transfers at a cheaper price than on the Bitcoin network. It was also faster to use ETH than BTC. However, thanks to the expansion of the Ethereum network, it became more difficult for investors to use ETH (it is costly and slow).
Litecoin is, instead, a great option if you are searching for a digital currency to play at online casinos. It is fast and very cheap to use. Indeed, its transactions can cost even less than $0.01. If you know and already use Bitcoin, Litecoin could be a great addition to your portfolio and to play at online casinos. Furthermore, Litecoin has added privacy features that make it better and more secure to use.
Continuing with fast and reliable virtual currencies, we can also use Ripple. Ripple is known for its almost instant transactions and very low fees. Indeed, an XRP transfer can cost as low as 0.0001 XRP, which is less than $0.001. This shows how useful this digital asset could be to play at online casinos.
Another virtual currency that has been adopted in recent years is Dogecoin. This digital asset has been very much promoted by Elon Musk and it is also one of the main choices of people that want to send fast and cheap transfers. Although it might not be so convenient (you need to use thousands of coins), it is a nice alternative to NEO on different online gambling sites.
Users can also use Monero if they care about privacy. Compared with the above-mentioned digital currencies, XMR has a clear focus on privacy, making it possible for you to send and receive funds without having to be worried about your data.
Finally, users that do not want to experience volatility when using digital currencies can also use USDT. Tether is the largest stablecoin in the market, making it possible for casino players to enjoy their favorite games without having to be worried about the price fluctuations of the coins they use.
🔎 KYC in NEO casinos
We have seen how in recent years, there has been increased scrutiny on investors from all over the world that are using their virtual currencies at online casinos. Indeed, you might have to pass a KYC check in order to keep playing or be able to withdraw funds from the platform.
Some online casinos that offer support to NEO will not require you to pass KYC checks. These casinos are those that do not have a license. Why? Simply because they do not need to be compliant with this license to keep operating. However, the negative point about using a non-licensed casino is that they could have fewer games than licensed platforms.
Another thing that you should know is that if the online casino that you are using is requesting you to pass a KYC check, then you might have to provide some additional information about yourself. Some of this data include name and surname, country of residence, and a picture of your ID or a selfie, among other documents.
Most of the time, the KYC check will be passed if you handle large amounts of money. If you are a casual player and you just play some games with small amounts, it is highly possible you will not have to pass any KYC verification process.
One of the things that you should always do before creating an account at an online gambling site is reading the Terms and Conditions. They will be very useful in order to understand what you can expect from the KYC checks.
✔️ How to choose the best NEO casino to play?
Let’s now focus on how to choose the best NEO casino to play. There are some things that you should take into consideration in order to avoid possible scams or sites that could not offer you the services and experience you were expecting.
Check their reputation
Checking the reputation of a casino is something that you have to do every single time that you create an account. Indeed, you should check the reputation of a NEO casino before joining the platform. Why? Because you don’t want to first, give your data to a casino that might not be reliable, and second, deposit funds that could eventually be blocked.
There have been many reports in the past of casinos that did not let people withdraw their funds after they had deposited them. This is something that you want to avoid at all costs. In order to make sure that you are using a reliable platform, you should always check whether there have been complaints on that matter.
The reputation of a casino is extremely important for you to be able to enjoy the best games using your favorite digital asset: NEO. Additionally, you should search for other red flags that could point out to a possible casino platform that is not offering good services.
Country check and Terms and Conditions
Before creating an account at a NEO crypto casino, you should always read the terms and conditions. This is extremely important. In the end, the T&Cs are going to work as the contract that rules the relationship that you have with the casino. Therefore, having a good knowledge of what you can and cannot do is definitely important.
Usually, we want just to play online casino games, but there are some restrictions that apply and that we should carefully analyze before creating an account. For example, we need to make sure that there are no country restrictions that could apply to our jurisdiction. If we are playing from a restricted country, we might end up being banned if the casino discovers that we are playing from this place.
Moreover, if you are using a VPN, this does not mean that you are allowed to play at these casinos. Indeed, your account can get banned at any moment if they discover you. This could create a situation in which your funds get lost or frozen.
Games
We all want to play different games at online casinos. NEO is one of the best cryptocurrencies to do so, but which games can we play using NEO? Before creating an account at one of these platforms, we must make sure that we know which games they are offering and whether they support NEO as a payment method.
You can always check and filter the games that casinos offer and try searching for those games that you like the most. Additionally, you should always make sure that you can play these games that you like with the coin that you hold. In some cases, NEO might be supported by the casino but not all games might let you play with this coin. Therefore, making a double check is always important.
Welcome offers
Lately, cryptocurrency casinos have not been offering great welcome offers to players. However, there might be a possibility for you to enjoy a very good welcome offer from one of the casinos that you have selected. But how to spot a good welcome offer? You should take into account whether there are limits to the funds that you could earn from the welcome bonus and if you have to wager many times the bonus that you receive.
Another thing that you should know is that welcome offers should not be the most important thing to look at when selecting a cryptocurrency casino. You should first select the platform that convinces you the most and then compare different welcome offers.
Loyalty programs
Loyalty programs are similar to welcome offers. This should be one of the last things to look at when selecting a cryptocurrency gambling site. You should analyze the loyalty program if you are a person that knows that will play a lot and that will become a regular player of the platform.
When searching for a crypto casino online, you should make sure that the loyalty program will be easy to reach and reliable. That means that you should not rely on loyalty programs that require you to wager thousands and thousands of USD, but you should focus on those loyalty programs that give you rewards starting from lower loyalty levels. This could keep you incentivized to keep playing at this online casino.
Withdrawal fees
Finally, we need to certainly take into consideration the withdrawal fees that could apply to your funds. Most online cryptocurrency casinos do not have a withdrawal fee. However, you will be surprised to know that they apply a hidden fee when you execute a withdrawal.
As you might know, when sending or receiving digital currencies, including NEO, users have to pay gas fees. These fees fluctuate every single minute. What most casinos do is take a larger portion of your funds in order to process your withdrawal. This is something that should not be done as the casino has already earned money.
👍 Pros and cons of NEO gambling
These are some of the pros and cons of using NEO to play at online casinos.
Pros
- NEO is a relatively different cryptocurrency asset compared to BTC, ETH or LTC
- This virtual currency has created a large ecosystem in China and Asia
- You can enjoy a different experience when using NEO to play casino games
- New users join the NEO network on a daily basis
- The potential of NEO is one of the most interesting things about this project
Cons
- There might be few cryptocurrency casinos accepting NEO
- It can be difficult to find the games that you want to play using NEO as a payment method
- NEO’s market performance has not been ideal in recent years
- It has a large focus on China and Asia (paying less attention to other regions)
- NEO uses GAS to process transactions from and to online casinos