Guide on How to Withdraw Crypto
Online casinos are taking over their physical counterparts with many benefits, making them a prime choice for veterans and new players. Introducing cryptos for transactions is one of the key benefits that gamers enjoy today. Alongside this benefit, a player can sign up anonymously at a casino, deposit money, play with privacy, and deposit and withdraw most conveniently. On the blockchain, transaction fees are almost negligible, so depositing huge sums does not deter players. Furthermore, with the plethora of bonuses and games to play, players cannot get enough thrills and fun while playing and making money.
Withdraw Step By Step
To withdraw cryptos from a gambling site:
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1
Login onto the platform
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2
Navigate to “Cashier/Wallet”
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3
Select “Withdrawal”
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4
Select a payment method: Cryptocurrency
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5
Select the type of cryptocurrency (BTC, ETH, etc.)
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6
Enter withdrawal amount
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7
Confirm the transaction
To withdraw bonuses, players should confirm the wagering requirements associated with them so as not to lose any bonuses.
How Long Does It Take to Receive a Crypto Payment
Receiving crypto after depositing or withdrawing funds from a casino may take some time, and this varies from cryptocurrency to cryptocurrency. Some transactions take a few seconds, and others take minutes to confirm.
Also, some take one confirmation to complete a payout, while others take as many as six confirmations before a payment is received.
Other factors affect the speed at which a transaction is completed. One of them is the technology the site uses and the protocols put in place. Some gambling sites have a lot of security and protocols that take more time to complete, while others have none and stick to the security that cryptos provides, and these sites offer near-instant payouts.
All in all, the speed at which gamers will receive a crypto payout from an online casino cannot be compared with that of a bank transaction. This shows the power and speed of using cryptos for transacting in a new online casino.
Processing Times for Different Cryptocurrencies
| Cryptocurrency | Block time | Number of confirmations | Expected arrival |
| Bitcoin | 10 minutes | 1-2 | 10-20 minutes |
| Ethereum | 13 seconds | 12 | 2.5 minutes |
| Litecoin | 2.5 minutes | 3-6 | 10 minutes |
| Ripple | 3.5 seconds | 1 | 3.5 seconds |
Bonuses to Try
Factors to Consider
As players make money and cash out, there may be instances where a transaction is delayed. A delayed transaction can happen for many reasons. One of the most common reasons is incorrect account details. Sometimes a player may enter details that are incorrect, and the system flags down the transaction to protect them.
Sometimes, the minimum withdrawal amount has not been met, and the process is bounced by the system. And other times, the gamer’s account has been flagged for suspicious activities, including the use of robots to gain an unfair advantage, bonus abuse, etc. Gamers should be rest assured that all delays on payouts are for legitimate reasons.
| Wagering Requirements | This is a condition applied to a promotion that a gamer must meet in order to withdraw a win. These conditions are applied to bonus deals. For example, a game can require playing with a minimum amount and a minimum number of odds. Once these requirements are met, the player is free to withdraw the bonuses. | ||
| Withdrawal Limits | Casinos place withdrawal limits on players, and some of them place limits by amount or transaction, while others limit by day, week, or month. Sometimes these limits are placed to keep casinos from closing shops. Also, limits are placed as a security measure against fraud and money laundering. | ||
| Account Verification | For casinos that accept players with the basic KYC information to play, they may delay a withdrawal if the gamer has not fully provided KYC information. So for cashout, all required information must be filled before funds are withdrawn. This process is put in place to stop bots and other malware. | ||
How to Cash Out Cryptocurrency for Real Money?
Now that the player has successfully withdrawn from the casino to a bitcoin wallet or other, the coin can be exchanged for fiat, and this process is highly dependent on the wallet or exchange used. Some exchanges have a smooth process, all transactions can be done within the exchange, while others may not, so the player needs to sell the coin on another platform.
On decentralized exchanges, the gamer just needs to navigate to the trade section and transact, however, this comes with a fee. They can also use P2P platforms to get fiat. Buyers are displayed, and the player chooses one with a favorable exchange rate and then transacts.
Conclusion
After winning a game, it is the player’s right to withdraw the funds won, and withdrawing with cryptos seems to be the most suitable option. And cashing out through this option is more convenient and takes much less time than traditional means. By using P2P or exchanges, the player saves funds from extra fees and gets near-instant payouts.
