Are you looking to play at a crypto casino? Gambling with cryptocurrency means you can enjoy cheaper and faster transactions. But, not all crypto gambling sites were created equal. Some casinos actually charge you an additional fee on cash-out, while others only take what the network requires for the transfer.
Picking a crypto casino with reasonable fees means you can get more bang for your buck and have a better gambling experience overall.
Here’s a guide on what you need to know about withdrawal fees at different casinos:
Crypto Casinos With the Best Fee Policies: What Makes a Good One?
When it comes to gambling with cryptocurrency, the last thing you want is to be surprised by a high withdrawal fee. The best crypto casinos will be upfront about their fee policies and won’t charge you any more than what’s needed to process your transaction.
Sites like BC.Game casino keep up with network requirements and only take what’s necessary. You can even check the fee before you confirm your withdrawal. This way, you know exactly how much you’re paying and can plan your budget accordingly.
On the other hand, some casinos will charge you an additional “processing fee” on top of the network fee. This is usually a flat rate, regardless of how much you’re withdrawing.
Alternatively, they would simply take a larger cut than the actual network fee. The latter practice is wildly unethical, but it's also more difficult to catch.
To see if the casino is being truthful about its fees, enter the same transaction amount (without actually sending it, of course) into your wallet and see the fee your wallet suggests. Compare this to the fee the casino is charging you.
If it's more, you know what's going on!
How Much Should You Expect to Pay?
The short answer is not much.
Withdrawal fees at a crypto casino are usually very low or non-existent. This is because crypto casinos operate on a decentralized network, which means there are no middlemen or third-party processors to take a cut of your winnings.
However, just because there is no central authority, doesn't mean the ledger costs nothing to run. In order to move your crypto coins from the casino's digital wallet to your personal one, a small transaction fee will be charged. This fee goes to the miners who verify and record all the transactions on the blockchain.
So, while you won't be paying any exorbitant fees to withdraw your winnings from a crypto casino, you can expect to pay a small transaction fee that goes to the miners.
Psst! Keep the exchange fees in mind, too. Our favorite low-fee exchange is PrimeXBT!
Are Large Cryptos the Best for Gambling?
When you think of crypto betting, you probably associate it with Bitcoin or Ethereum casinos. But what if we told you these are actually not the best cryptos for gamblers?
Since they are the most popular and well-known cryptos, their respective networks are also the busiest. This means that when you make a deposit or withdrawal in BTC or ETH, you will have to pay a higher transaction fee than if you were using a less popular crypto.
During periods of increased market activity, Bitcoin and Ethereum transactions are also slower than usual.
So, if you're looking for the quickest and most cost-effective way to move your money in and out of a crypto casino, we recommend using a smaller crypto like Litecoin or Bitcoin Cash.
But, there is an even smarter way to gamble. Enter stablecoins.
Stablecoins are digital currencies that are pegged to the US dollar, another fiat currency, or an asset like gold or silver.
This means that their value does not fluctuate as much as regular cryptocurrencies. For example, if you deposit $100 worth of Ethereum into your casino account, and the ETH-USD rate drops by 5% overnight, you will have $95 worth of ETH in your account the next day. But if you had deposited $100 worth of a stablecoin like USDC, your account balance would still be $100.
This is why stablecoins are ideal for gamblers. When you use a stablecoin like USDC, you can be sure that the money you deposit today will still be worth the same tomorrow - and the same goes for your winnings. Gambling with a stablecoin minimizes your potential losses when it comes to transactions, withdrawals, and market price fluctuations.
So, if you're looking for the best crypto for gambling, we recommend using a stablecoin like USDC or Tether.
Crypto casino withdrawal fees can vary greatly, depending on the casino.
Sometimes you will be able to find casinos that charge no fees, while others will charge a small percentage. Transaction costs will also vary depending on the cryptocurrency you choose, network saturation, and other factors.
The key is to do your research and find a casino that offers the best possible terms for your gaming needs. We recommend playing at reputable casinos only and starting with smaller deposits to get the feel of the casino and the fees they charge.