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Crypto gambling is the possibility of betting on sports or playing online casino games using cryptocurrency. The following text discusses what it takes to gamble with cryptocurrencies in Ireland to ensure a pleasant experience.
Cryptocurrencies in a Nutshell
The term cryptocurrency refers to a digital currency created through so-called mining. Cryptocurrency is decentralised, so it’s not controlled by any country (government) or financial institutions (banks).
People from all around the globe use various cryptocurrencies to buy products and services online and play their favourite online casino games.
Cryptocurrency Types
Bitcoin, Litecoin, Ethereum, and Ripple are the four most popular cryptocurrencies.
- Bitcoin is the first cryptocurrency, launched in 2009. It is decentralised and based on blockchain technology. The creator is Satoshi Nakamoto.
- Litecoin, like Bitcoin, uses blockchain technology. It was launched in 2014. The creator is Vitalik Buterin. Unlike Bitcoin, Litecoin requires less transaction time.
- Ethereum is another product by Vitalik Buterin. The cryptocurrency was launched in 2014, the same year as Litecoin. Like the previous two, Ethereum uses blockchain technology. It is an innovative contract platform, allowing the automated execution of specific transactions.
- Ripple is a cryptocurrency that differs from the previous three. It is based on a distributed ledger system that enables faster transactions. Another unique thing about this cryptocurrency is that it’s not created through mining, but by the Ripple company.
Tips for Gambling with Cryptocurrencies in Ireland
Perhaps you can’t wait to make a first deposit in cryptocurrency. But don’t rush it. Instead, go through these few straightforward steps to learn what you should do before depositing.
Proper Research is Critical
Like gambling with standard money, once you decide to bet on cryptocurrency, you want to find an online casino you can trust and rely on. Therefore, the initial step is to take some time for research and make a list of the best crypto casinos in Ireland.
Once you do that, examine each. Start with looking at the licenses they hold. Remember, a reputable online casino will ensure all permit-related information is easily accessible.
Another thing to look for is the game selection. Regardless of how attractive an online casino seems, if they don’t feature your favourite games, there’s no reason to stay with them. However, go through their offering anyway. Maybe you’ll find titles and game types you are not quite familiar with, but you are open to learning and engaging in something new.
Also, see what their promotion and bonus options are. In a highly competitive market, such as gambling, companies try to stand out by offering generous bonuses to both newcomers and existing members and various promotions to show their appreciation to the most loyal players.
Finally, ensure an online casino has customer support. Although each player wants a stress-free experience, issues might occur, so you must know you have someone to turn to and ask for help anytime through various channels.
Focus on Terms and Conditions
Every online casino has requirements you must meet while creating an account and then making a deposit and playing your favourite games.
That’s why it is essential to familiarise yourself with the terms and conditions of a particular site. Then, focus on parts about wagering conditions, withholding, or deposit limits. These can make or break your decision about joining an online casino.
Don’t Skip the Reviews
Although they could be part of the first step, reviews deserve a separate section. As you pay attention to what a particular casino offers, you also want to know how other players feel about it.
Exceptional user experience is the primary business aim of almost any online casino. Of course, they want to make a profit. Still, those that want to grow and be successful in the long run know the best marketing strategy revolves around building an excellent reputation and motivating existing players to recommend them to others.
Thus, when reading reviews, pay attention to what players say about the quality of games and deposit and withdrawal options on a particular site. The internet is full of scam gaming sites, but the proper research, including reviews, protects you from signing in with some of those.
Set a Budget and Be Aware of the Risks
If you have determined what online casino best fits your needs and preferences, create a budget you want to spend on your favourite games or betting on sports.
First, you must decide what cryptocurrency you want to use. Each cryptocurrency offers unique features and benefits attractive to players, but you must familiarise yourself with the risks each carries to make the right decision.
Then, create a budget and stick to it. The proven formula says: only invest means (in this case, cryptocurrency) you can afford to lose. Don’t let this formula discourage you, but it is a fact that losses are part of gambling. Besides, the rollercoaster of winnings and losses makes it exciting.
Use a Reputable Crypto Exchange and Wallet
As with online casinos, finding a reliable crypto exchange is critical. Unfortunately, this area is also full of scammers. To avoid them, look for a crypto exchange with which people had/have a positive experience—another confirmation of how critical and helpful reviews can be.
The same goes for crypto wallets you’ll use to store your means. Luckily, the market offers various options, so again, make a list of the most praised ones and opt for a wallet that meets the most, if not all, of your gambling needs, technological knowledge, and preferences.
More and more online casinos will introduce the option of gambling with cryptocurrencies. How the entire space will change is yet to be seen, but even what we see today in Ireland’s online gambling scene is pretty exciting.
