USD Coin Casinos
Have you heard of USD Coin? No, not the US dollar coins but USDC – the cryptocurrency. We’re all familiar with fiat currencies – the US dollar being one of them. You might also know that cryptocurrencies have a habit of changing in value rather quickly – whether that means going up or down.
So, what makes USD Coin different?
It’s known as a stablecoin, which means it works like all other cryptocurrencies, except for the fact it is pegged to the value of the US dollar. So, it won’t be subject to the same fluctuations and ups and downs of most other cryptocurrencies. In this article, we’ll look further at the USDC and why it could be the ideal choice if you are considering playing at online crypto casinos.
USDC: The facts about this stablecoin
By way of an introduction, let’s go over some of the facts we know about USDC:
- It was launched in 2018
- It’s backed by the US dollar
- It’s less volatile than other cryptocurrencies
- 1 USDC = 1 US dollar
- It uses the Ethereum blockchain
- You can store, buy, and sell USDC via any trusted Ethereum-friendly wallet
With those facts in mind, let’s press on.
How to purchase USDC
You can buy USD Coins at all good exchanges, including Coinbase and Binance. Just set up an account at your chosen exchange and you can convert your US dollars into USD Coins. Once you have your USDC ready, you can find a suitable online casino that welcomes this cryptocurrency and go from there.
If at any point you would like to convert your USDC to regular US dollars, you can do so inside the account you opened at your selected exchange. Remember, one USD Coin will always be valued at one US dollar.
Here’s what you need to know about USDC and the legality of crypto gambling at online casinos
Across the spectrum of legality here, there are countries at each point. Some will happily allow you to deposit and withdraw from online casinos using USDC and other cryptocurrencies. Others have outright banned them. And of course, there are many more in the middle of those extremes.
The best advice we can offer you is to read up on the laws where you live. Can you use online crypto casinos? Can you play at any online casino? If you can, are you permitted to deposit using crypto, and if so, can you use USDC to do so? Once you have the answers you need, you should keep abreast of any changes in legislation. We’ve seen some countries initially opening their doors to online casinos – or at least not objecting to them – only to prohibit access to them later.
What to look for when searching for a crypto casino that welcomes USDC
There are several features you should be clear on before you sign up anywhere, so let’s look at those now.
Can you deposit and withdraw using USDC?
Typically, the answer will be yes if a casino accepts USDC to start with. It’s rare to find you can only deposit but not withdraw. Indeed, crypto regularly pops up among only a few payment methods available for withdrawals at lots of online casinos. Still, you should check this detail before you do anything else – and certainly before you sign up anywhere.
Can you play the full range of casino games using USDC?
Some casinos include a range of crypto casino games, so you can be sure you will be able to play those. Similarly, casinos promoting themselves as crypto-friendly sites to use tend to make sure all their games are playable using USDC and other options. However, we would recommend reading the terms and conditions for any site you are thinking of visiting and playing at. We have seen some T&Cs limiting access to certain games and/or certain developers, since they do not all welcome bets made in cryptocurrency.
Can you sign up for a specific casino you like the look of?
Even if you live somewhere that does not allow crypto casinos to operate, you might have access to offshore casinos that do not have to abide by the rules of that country. However, be careful if you choose this option, as it may leave you open to problems should the casino ever disappear. If you are going for an offshore casino, at least be sure you choose one that has been around for a while and has proven its worth to the casino community.
Pros of using USDC at an online casino
Lots of players love depositing via cryptocurrency when using an online casino. Crypto offers a far greater degree of privacy than any regular deposit method. USDC also offers its stability as a stablecoin, which isn’t the case with other cryptocurrencies that aren’t pegged to a fiat currency.
Withdrawals via crypto also tend to be quicker than those made via other methods. You can compare the times involved and typically you’ll see crypto comes out way quicker than virtually anything else you can use. We have received crypto withdrawals in around 15 minutes, whereas some far slower methods can take days.
Cons of using USDC at an online casino
If you are used to handling other more traditional methods for depositing or withdrawing from online casinos, you might find cryptocurrencies a little challenging to get to grips with for starters. Make sure you read up on them – and specifically, USD Coin – to understand what is involved before you dive in.
You must also be super careful whenever you handle a transaction in USDC. Since it is not reversible, you won’t get the funds back if you make an error.
Discover all our recommended online USDC casinos in action today
The market is continually evolving, and this is even truer of the crypto casino market. If you like what you see and think that the USD Coin is right for you, here is our list of the latest USDC online casinos you might want to sign up for.