Solana (SOL) is now one of the most used cryptocurrencies at online casinos due to its unique features and characteristics. Solana is fast and cheap to use, and it has a focus on the community. These are some of the reasons why Solana is becoming an increasingly useful digital asset to play at online gambling sites.
The next few sections will focus on the Solana network and SOL virtual currency and how this crypto asset is now expanding in the gambling industry.
💡 How does Solana (SOL) work?
Solana is a popular blockchain network that is powered by the SOL digital currency and is becoming a strong competitor to Ethereum (ETH) and the Binance Smart Chain (BSC). In recent years, Solana became an increasingly useful and popular digital asset that allowed the crypto market to offer new and reliable solutions.
Among SOL’s main characteristics we find fast and cheap transactions and a community that is becoming larger and stronger every single day. Due to all these reasons, Solana became a clear alternative to other blockchain platforms that have been operating for several years now.
SOL is the native token to the Solana blockchain network. Thanks to its characteristics, Solana is very easy to send and receive, making it a great utility token. Solana is also supporting smart contracts and non-fungible tokens (NFTs).
Some of the most popular projects released on top of Solana include non-fungible tokens, decentralized finance (DeFi), blockchain games, and trading platforms, among others. Thanks to the speed and reliability of the SOL digital currency, it is possible for users to engage in different network activities and get access to solutions that would otherwise be less efficient running on top of other blockchain networks.
Considering that the SOL digital asset can be used to pay for fees and engage on different protocols on top of this network, it has also been adopted by several gambling platforms online. Casinos are already accepting SOL and making it easier for users to deposit and withdraw funds from these platforms.
Therefore, Solana is nowadays an altcoin used by casino players to get access to some of the funniest gambling platforms online.
👉 How to buy SOL?
If you already have experience in the cryptocurrency market, then you should be able to buy SOL in just a few steps. Solana can be purchased through different cryptocurrency exchanges. These trading platforms will give you the possibility to purchase SOL and withdraw these tokens to gambling platforms.
In order to buy SOL, you will have to create an account at a crypto exchange. There are many different crypto trading platforms around the world, therefore, you should make sure that you choose the one that would offer you the best solutions.
Some trading platforms let you deposit your local currency and buy SOL and other digital assets with it. This might be the best option for you. Additionally, a good exchange would be the one that would accept different types of payment methods, including debit and credit cards or bank transfers, among others.
The whole buying process should not be complicated. Most cryptocurrency exchanges have already standardized the process to buy and sell digital currencies, including SOL. The best option would be to use an exchange that supports your local currency, that has low trading fees and that supports a large number of payment methods.
Take into consideration that you cannot buy SOL directly at the online gambling platform. The online casino would simply offer you gambling services. Despite the fact that some casinos released their own digital currencies, you would have to purchase SOl before you play at an online gambling site.
Some cryptocurrency software wallets are also letting you purchase Solana using their apps. This might be the best option if you want to avoid paying fees every single time that you withdraw your funds from the crypto exchange.
🛡️ How to properly store SOL?
Cryptocurrencies have been one of the main targets of hackers and attackers over the last few years. Solana can also be stolen from investors if they do not properly store their coins. But how to store SOL and other digital currencies?
If you have purchased Solana at an online cryptocurrency exchange, then you should know that this site is taking care of your funds. That means that, if in the future the exchange is hacked, your funds could be at risk and could get lost.
Instead, if you withdraw your coins to a cryptocurrency wallet for which you hold your private keys, then you will be responsible for controlling these funds. This is one of the best options if you want to protect your funds from attackers and hackers.
Nevertheless, you should know that holding your coins using a wallet for which you hold your private keys involves being responsible for it. That means that you will have to be especially conscious about what you do with these funds. A simple mistake from your side could end up with your coins getting lost forever.
Hence, you should understand how crypto custody works and who is responsible for protecting your coins. Solana can be stored in software or hardware wallets. Hardware wallets are the most secure in the world, as they hold the private keys offline. Software wallets are those wallets that you can download to your computer or smartphone. However, these are not the most secure as a hacker could take control of your funds.
Finally, if you want to play at online casinos using Solana, then you should search for a way to protect your funds and avoid paying fees every single time that you take your funds out of your exchange.
↔️ How do Solana deposits and withdrawals work?
When you play at crypto casinos with Solana (SOL) you will have to deposit and withdraw funds. If you have your SOL in a cryptocurrency wallet, you will have to withdraw your funds and send them to the online casino that you have chosen to play.
The casino will give you a deposit address where you will have to send SOL. Make sure that you copy and paste the correct address as sending your funds to the wrong deposit wallet could end up creating a situation in which you lose your funds.
At the same time, you should not send Bitcoin or any other cryptocurrency to a Solana wallet address. Doing so will also create a situation in which you could lose your funds. A SOL wallet address can only receive SOL tokens. A Bitcoin wallet address can only receive BTC.
After playing at the online casino, you can withdraw your funds in minutes. The process is very similar. Rather than requesting a Solana deposit wallet address you will go to your Solana wallet and copy the address that is given to you.
You should also be cautious here, as sending the wrong currency to a Solana wallet would result in your funds getting lost. One of the best things that you can do when you withdraw funds or when you send digital currencies is to check two or three times the wallet address when you copy and paste it. During the process, you could have missed some characters.
🎲 What games can you play with Solana?
Nowadays, online casinos are offering a very large variety of games for players from all over the world. Platforms that are regulated (have a license) have hundreds of games from different categories that include table games, slots, provably fair games, card games, and live casino games, among others.
Thanks to the expansion of Solana, casinos want to make sure that players are able to use this digital currency to play as many games as possible. Hence, you will get a chance to test your skills at some of the most popular casino games using your favorite virtual currency in just minutes.
It is worth taking into account that there might be some online casinos that would offer you unique benefits if you deposit SOL tokens. However, these might be limited offers and on just some platforms.
You should also know that each online casino might also offer different games. That means that some gambling websites could have games that other platforms do not have on offer. Consequently, you have to make sure that you select the right cryptocurrency casino to start playing with Solana.
🪙 What coins can be used for gambling besides Solana?
You can use different virtual currencies to gamble at online casinos besides Solana. SOL is just one of the most popular ones, but it is not the only one. Bitcoin (BTC) is among the best virtual currencies to use for gambling. The number of games that you can play using Bitcoin is huge. This would make your experience very smooth and fun.
Ethereum was also a great alternative to Bitcoin when its transactions were faster and cheaper than on the Bitcoin network. However, in recent years, it has become much more expensive and difficult to use.
Litecoin is a great option if you care about transaction fees and speeds. You can process an on-chain transaction in just minutes and pay as low as $0.01 per transaction. That’s very low, especially if you want to focus on gambling as much as possible. Over time, you will save a lot in fees if you start using LTC.
Dogecoin (DOGE) is similar to Litecoin. This virtual currency is known for being a meme coin and for being embraced by Elon Musk, the CEO of Tesla. Another thing that is worth taking into consideration is that you can send and receive DOGE in just seconds and for a very low fee.
We cannot forget about Ripple (XRP). This digital asset is extremely fast and cheap. It’s even cheaper than Litecoin, which makes it perfect to use at online casinos. Some people prefer to use decentralized digital assets, but XRP has been among the most popular coins to play at online casinos due to its characteristics.
The number of virtual currencies that you can choose to play on online gambling websites is massive. It is up to you to decide the digital currency that you use to play at crypto casinos.
🔎 KYC in SOL casinos
It is very important to know that online casinos can operate with or without a license. Due to government regulations, websites that have a license might require you to pass a Know-your-Customer (KYC) check.
These KYC checks can be activated as soon as you deposit funds, when you request a withdrawal, when you cross a certain betting limit, or randomly. The procedure used by Solana casinos could change according to the needs of each platform.
If you are a player that is going to bet large amounts of money or that is planning to gamble a lot, then you should make sure that you have all the necessary documents that the gambling site could request you. Some of these documents include an ID, a photo with an ID, a bill showing your name and an address, etc.
It is always a good thing to read the Terms and Conditions (T&Cs) to understand if the casino could ask something else from your side.
Some online casinos that support Solana might not even ask you for documents. These casinos are usually those that have no license. Therefore, you might feel better playing at a website without a license rather than passing a KYC check at a licensed platform.
If you are a person that is planning to bet small amounts of money, you have a smaller possibility of being requested to pass KYC checks.
✔️ How to choose the best Solana casino to play?
Choosing the best cryptocurrency casino is not easy, especially with the large number of platforms that are currently offering users the possibility to play with Solana. Therefore, you must make sure that you select the right casino. Most of them will offer similar services, but some details would make your gambling experience better.
Check their reputation
Checking the casino’s reputation is a very important thing to do. This is because you are going to deposit funds to a third-party platform that you still do not know. Reading reviews about the casino would be a great way to clearly understand which type of service you are expected to get.
You have to pay attention to red flags. These red flags include situations such as delayed withdrawals, issues with payments and blocked accounts. The worst thing that could happen to you is to start playing at an online casino that experiences issues with the withdrawals or that blocks users’ accounts.
Reading reviews of cryptocurrency casinos is also a good thing to have a better idea of what can happen with the KYC process. Some users share information about whether they completed and passed the verification process. Therefore, checking Solana casinos’ reputation is a very important thing.
Country check and Terms & Conditions
Most online casinos will share with users a list of restricted countries. People located in these countries would not be able to get access to the services offered by the Solana casino that you have chosen. But which are some of the countries that can be blocked? Most of the time you will find countries such as North Korea, the United States, France, and Iran, among others.
If you decide to create an account at an online casino and you are located in some of the restricted countries, then your account could get blocked and your funds were frozen. It is very important to read the Terms and Conditions and check which are the countries are blocked by the gambling platform.
The Terms and Conditions are also very important as they will share with you all the information that you should know about how the platform works. Reading the T&Cs is one of the first things that you should do when you are planning to open an account at an online casino, as this is the contract between you and the platform.
Games
The rule is that the larger the number of games offered by an online casino, the better for the player. But you do not only need to focus on the games that they are offering but also on the possibility that the casino offers for you to actually play with Solana.
Nowadays, most gambling websites have similar games from the most popular game providers. However, not all the games that a casino offers to its customers are going to let you bet with Solana.
Therefore, you should read the details of each of the games offered and check whether they let you bet using SOL or not. Solana is becoming increasingly useful to play at online casinos and you want to be sure that the games you want to play support this digital asset.
Welcome offers
Some casinos are offering welcome offers or bonuses. These offers were quite useful in the past to attract players, and they still are nowadays. If services are similar between two online casinos, a good welcome bonus could be the last feature that would push a player to choose one or another platform.
This is why you should make sure to search for casinos with a welcome offer or bonus that would not have wagering requirements. If the wagering requirements are high, then you should know that the casino is not being fair to you and that they are simply pushing you to spend more than what you are expected to spend in the long term.
A user-focused welcome offer with no or low wagering requirements would be ideal. Some of the best welcome bonuses include free spins and cashback. You should also check whether the bonuses have limits and restrictions attached (i.e. the games in which you can spend your bonus funds).
Loyalty programs
Players that are expected to deposit large amounts of money at online casinos or that are going to play on a regular basis should be rewarded. This is why gambling platforms compete for high rollers by offering good loyalty programs. By offering perks and discounts, large players reduce their losses and should have better playing conditions than most players.
There are different types of loyalty programs. You should focus on the loyalty program that adapts to your betting level. As a rental player that does it for fun, you should search for those casinos with loyalty programs that let you easily reach the first or second levels.
If you see that an online casino is offering a loyalty program and has a relatively high betting threshold, then you should consider moving to another gambling site that would have a better loyalty program.
Withdrawal fees
When you withdraw funds from an online casino you don’t want to pay additional fees. Several gambling platforms continue to add withdrawal fees to Solana and crypto players. This is something that you want to avoid. You could check this information when you conduct a review of the platform or when you read the comments shared by other players online.
If you want to reduce your exposure to withdrawal fees, you can also get more information from the customer support team. They should be able to help you at all times.
👍 Pros and cons of Solana gambling
These are some of the pros and cons of gambling with Solana. However, it is up to you to analyze which are the benefits and drawbacks of using this digital asset for gambling.
Pros of Solana gambling
- Solana is fast and cheap to use
- SOL is becoming increasingly popular at online casinos
- It gives a unique experience to players
- You can play Live Casino games using digital currencies
- Some games could offer unique bonuses and offer to SOL players
- Compared to traditional payment methods Solana is a community-focused project
Cons of Solana gambling
- Few casinos support SOL payments
- It might not be as widespread as Bitcoin or Litecoin