Since the advent of bitcoin and cryptocurrency in general, crypto casinos or gambling using crypto has emerged as one of the most prominent use cases for crypto and blockchain technology. The process of depositing and withdrawing crypto at crypto casinos as compared to gambling with fiat currency at traditional casinos, is much quicker and easier. In this write-up, we’ll look in detail at the withdrawal process at crypto casinos and what you need to know.
Benefits of Gambling with Cryptocurrency
Not only does cryptocurrency such as bitcoin, ethereum, solana, and more offer large monetary value, but the technology upon which it is built brings numerous benefits to the online gambling sector.
- Safe and Secure.
- No Limitations on Transactions.
- Play Anonymously.
- Low Transaction Fees (Depends on the chain of your choice).
- Quick & Easy Payment Processing.
Licensed Crypto Casinos
Whether you are playing at traditional online casinos or crypto casinos, always opt to play at a licensed crypto casino. This process of vetting can ensure that your gameplay results can be trusted and that your deposits and withdrawals are real. One quick way of identifying the legitimacy of an online crypto casino is to look at the withdrawal process, if it’s not as easy as the deposit process, then it’s better to stay away.
Withdrawals at Crypto Casinos
Cryptocurrency deposits and withdrawals are more or less instant. With that being said, most crypto casinos will require you to go through a KYC process if the amount being deposited or withdrawn is larger than a preset threshold. The KYC process and time required to complete it can vary from one operator to another.
Withdrawal Time
Some crypto casinos will require you to meet bonus wagering requirements before you are eligible to withdraw. You’ll only need to meet this requirement if you have availed any bonuses from the casino while depositing. If you’ve met all the requirements, then with crypto casinos, you can process the withdrawal almost instantly. Casinos do check and approve your request, but in most cases, you should receive the amount in your crypto wallet in 5-60 minutes or at the most 24 hours.
How to Improve Withdrawal Time
The only reason why your withdrawal request may get rejected or delayed is if your KYC process has not been completed or has been rejected. To ensure there are no troubles in this regard:
- Complete the KYC process well ahead of time.
- Always provide clear copies of your documents.
- Put in your withdrawal request earlier in the day.
- Ensure that you have fulfilled any and all bonus wagering requirements.
Frequently Asked Questions
Can I get instant withdrawals by playing at crypto casinos?
Your withdrawals won’t be “instant” every single time as there are a lot of factors in play, ranging from the network in question through to the operator.
Is the withdrawal process at cryptocurrencies expensive?
No, in most cases you’ll not be needed to pay any hefty additional fees to process your withdrawals.
What are Pending Periods?
This is essentially the time it takes for the casino to process your payment after you’ve initiated a withdrawal request.
