It should not surprise anyone that cryptocurrencies are the “it” topic amongst many people. Since the beginning of the hype surrounding crypto, early 2021, there have been many tokens that have seen their glory and their fall. However, there are those that are expected to stay around for quite a while, just like Solana, Cardano, Litecoin, etc. One of these unique cryptocurrencies is Monero (XMR).
XMR is a token that’s been getting a lot of attention lately, which directly translates into crypto casino players wanting to use the currency for betting. This encourages crypto casino owners to integrate XMR as a payment method. Not only that, but it encourages game developers to implement XMR as a betting option.
It is very interesting to see how the crypto casino industry is evolving lately, with all these new tokens getting engagement from people. This definitely began in 2021, but we are positive that the rate at which this corner of the sector is growing will keep going up. So before we understand why XMR is great crypto to play with, what exactly is Monero and how does it work?
Did you Know? Monero is from combination of 3 words in Esperanto, which was aimed to be world’s first de-centralised and universal language.
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Monero is an open-source, privacy-oriented cryptocurrency that’s been around since 2014. Its blockchain is intentionally programmed to be opaque, meaning all transaction details remain anonymous. This includes the identity of senders and recipients, the amount sent, etc.
At the time of writing (23rd of December, 2021) XMR is trading at $210, although it reached a peak value of $475.55 in May 2021. It is expected to keep growing due to the decentralization it offers and the many benefits owners of the token can reap.
If you are interested in more details, Monero gets privacy concerns out of the way by using ring signatures and stealth addresses. But what are those? Well, put simply, ring signatures enable senders to conceal identity from other participants in the transaction, allowing you to remain anonymous. And stealth addresses as they are randomly generated addresses for a single-use during a transaction. It completely hides the identity of the sender or recipient, thus – “stealth” address.
Due to its privacy-oriented nature XMR introduces a new level of security when it comes to personal information and tracking. This ensures you will be remaining completely private during all transactions in and out of your wallet. Of course, this translates into Monero casinos privacy, as most casinos usually do not require personal information before you can play. Furthermore, XMR is completely untraceable, so nobody can tamper or mess with your own business.
Monero is completely decentralized as it uses the peer-to-peer method. If you compare it to Bitcoin, which is also decentralized, it still performs way better due to its privacy-oriented nature. This means that the government cannot tamper with or manipulate the Monero network in any way when talking about transactions.
It should come as no surprise that XMR transactions happen way faster than the bigger cryptocurrencies. For example, Bitcoin can take up to 10 minutes to be delivered, Ethereum can take up to 7 minutes, while Monero takes only up to 2 minutes. This is a much better speed than the two giants, although there are some that are also way faster than Monero.
What is very interesting is the transaction fee of XMR. Let’s start off by giving an example. In order to accumulate $3 worth of fees, you will need to make 1000 XMR transactions. That’s right – one thousand. Currently, the transactions fee of XMR is $0.0003, which is so much lower than 95% of the bigger tokens out in the market.
Availability is also something that should be considered. Due to begin able to remain completely anonymous, and cryptocurrencies being available worldwide, you will be able to bypass any restrictions. These include restrictions and rules placed by your government and jurisdiction. Most crypto casinos accept players who use VPN software, so we strongly recommend using that to further mask your activity.
Happily, XMR's advantages heavily outnumber the disadvantages. Not only that, but the pros are more than even some of the best cryptocurrencies on the market. Of course, our main goal is to remain completely transparent in the delivery of information, thus we will make sure to include all possible disadvantages that a Monero Casinos can withhold.
If you are interested in purchasing XRP, you will be glad to know that there are quite a few online crypto exchange platforms that will allow you to do so. Some of those platforms are Binance, Kraken, Coinbase, Nexo, Bybit, etc.
Of course, you will also need a crypto wallet, which some of these platforms have integrated such as Binance, Kraken, and Coinbase, although you can also use an outside crypto wallet such as Metamask. Once you purchase XMR it will be added to your crypto wallet.
New casinos accepting Monero deposits
Choose your Monero casino and create your account.
Find the “Deposit” button, which should be located in the top section of the casino’s website.
Select Bitcoin Cash as the crypto you wish to use.
Select a cryptocurrency you’d like to make a deposit in. Send an amount to the provided address and wait for it to be added to your casino account’s balance.
After going through all of that information, it should not be surprising why the demand for Monero casinos is on the rise. The privacy ensured by the blockchain and the business model of Monero has no equal at the moment. This is probably the greatest attraction of the token itself. However, there are many other benefits.
We definitely suggest giving Monero casinos a try, since the cryptocurrency itself offers a lot of advantages, that others cannot. Although it is not a bad idea to keep in mind that there aren’t that many casinos that accept XRP at this point in time.
Take a look at our FAQ section below for some condensed information.
Monero casinos can have only a Curacao license or have no license at all. Of course, it is a good idea to avoid casinos with no license. However, Curacao also does not have the best reputation, but owners have no other choice, due to the fact that MGA and UKGC still have no affiliations with any crypto casinos.
Yes, Monero casinos can be accessed worldwide just like most other cryptocurrencies. However, there are some countries that restrict their citizens from using crypto. Happily, there is a workaround for that, and that is VPN software, which will further ensure you remain anonymous.
Monero casinos have all the traditional games that regular online casinos have to offer. These include, but are not limited to, table games, live casinos games, slots, sportsbooks, and some unique crypto-only games.
No, Bitcoin Cash casinos are the name of casinos that, alongside all other cryptocurrencies they also accept Bitcoin Cash. This means that you will also be finding many other crypto options you can choose from if you have more than one cryptocurrency stacked in your crypto wallet.