World over, cryptos are increasingly becoming a currency of choice. Tech-oriented merchants, gaming sites and casinos in Asia equally continue to embrace cryptocurrencies as they are immune to the government or any centralised authority manipulation. According to Statista, Singapore, for instance, recorded a sharp rise in cryptocurrencies and blockchain investments in 2021 as they reached USD 1.48 billion. In the previous year, crypto investments were a paltry USD 109.7 million. The rise indicates the increasing percolation of blockchain-backed currencies, especially in the online gaming industry, accounting for significant transactions.

 

A Brief Intro to Cryptocurrency

So, what is a cryptocurrency? A cryptocurrency is a form of digital currency that Singaporeans can buy, sell, and exchange among themselves without involving intermediaries like a bank or government authority. Cryptography technology secures cryptocurrencies, making it hard to create counterfeits or double-spending. Transactions in cryptocurrencies are recorded in a public database known as a blockchain.

Blockchain has units or blocks containing information about all the transactions (date, value, seller, buyer, and the unique identifier code). The system strings all entries in a chronological format, thus creating a chain of blocks. For transactions to go through, a majority of the parties in the blockchain must accept. All the parties have unique codes that help recognise a user’s wallet. For security purposes, all transactions must align to the specific encryption pattern.

 

What You Need to Play With Cryptocurrencies in Singapore

As much as cryptocurrencies have a global embrace, you ought to have a digital wallet to process your online casino cryptocurrency transactions. Through digital wallets, you can deposit or withdraw cryptos from a casino. If you are new to cryptos, you may wonder what crypto wallets are?

A crypto wallet is an exclusive software to make and receive crypto payments. A functional wallet has two primary keys private and public keys. The private key generates the public key, which is your public address to receive crypto payments or accept your casino withdrawals.

You can use the following process to deposit with your crypto wallet. We have broken the process into point forms for easier understanding.

  1. First, end to your crypto casino website and sign up if you are a new member.
  2. Click on the payments section and choose the crypto deposit method. Highlight cryptos like Bitcoin, Ethereum, Litecoin, Dogecoin or Tether as your deposit method.
  3. Using your credentials (Private Key), log into your account and specify the number of cryptocurrencies you wish to transfer.
  4. Next, authorise the transfer and see your funds appear in your casino account shortly afterwards.

For withdrawals, the process is much the same. The only difference is that you use the public key credentials for accepting the cash-out.

 

Online Casino Accepting Cryptocurrencies in Singapore

While Singapore was previously a relatively closed gambling country, things are looking bright for gamblers. Nowadays, numerous legit online casinos supply Singapore gamblers with thousands of online casino games. Although most have foreign licenses, independent auditors also test their games and sites to ensure Singaporeans a safe and fair platform to place their stakes. Besides, they process payments via Singapore’s popular e-wallets, including help2Pay and EeziePay. Interestingly, many Singapore casinos accept cryptocurrencies. You may register with the following sites to start playing with anonymous transactions amid unmatched cryptography-secured processing.

 

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96M online casino is a perfectly secure online casino popular in Singapore and the rest of South Asia. It accepts payments via cryptos like Bitcoin. Besides, 96M has a license from the Curacao Gaming Commission, while BMM Testlabs audits and tests its games. With funds in your account, 96M offers a limitless choice of games from reputable developers worldwide. Equally, if you take advantage of the faster processing of deposits by cryptos, 96M promises a range of deposit bonuses that can significantly boost your stakes.

 

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At Maxim88 casino, Singapore players are free to register a gambling account. The casino processes payments through fiat currencies and cryptocurrencies. For instance, you can use Tether and Bitcoin for deposits and withdrawals. On top of the convenience of the payment, gamblers love the well-spread games package, incredible sign-up bonuses, and excellent customer support services. Like in other casinos accepting cryptos, winners at Maxim88 enjoy significantly higher withdrawal limits when using Bitcoin or Tether as their preferred withdrawal method. Besides, Maxim88 has a 24/7 customer support service if you experience any difficulties with your crypto transfers.

 

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me88 online casino is another option for Singapore gamblers keen on leveraging cryptocurrencies. The casino has a PAGCOR Seal, BMM Testlabs audits, and it is a licensed online casino under  Curacao’s iGaming license. While here, you can play the best games from Microgaming, NetEnt, and SpadeGaming. Besides, if you are avid sports betting fan, you have the chance to leverage crazy odds from CMD368 and Allbet. You can use cryptocurrencies like Bitcoin, Tether, or Litecoin to transfer your deposits and withdrawals for actual money stakes.

 

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This online casino is friendly to crypto enthusiasts in Singapore and South Asia. It leverages fast cryptocurrency processing timelines to allow you access to its complete package of games. The online cashier system by the casino accepts Bitcoin, Ethereum, Litecoin, and Tether cryptos. While cryptocurrency’s security is uncompromisable, the casino further bolsters your security. It employs SSL encryption to safeguard your information.

 

Benefits of Using Cryptocurrencies in Singapore Online Casinos

Using cryptos for your online casino bill payments has numerous benefits, some of which we briefly capture here.

#1. Ultimate Security of Your Payments

Cryptocurrency transfers go through rigorous validation processing. Before your account is credited or debited, most parties within the chain of blocks must accept the transaction using their unique codes. The distributed ledger uses cryptography technology to bar unauthorised parties from accessing your wallet information.

#2. Transaction’s Speed

Unlike conventional e-wallets or bank transfers, cryptos process your withdrawals and deposits within minutes.

#3. Bigger Transfers

For instance, high rollers in Singapore can withdraw higher amounts via Bitcoins or Litecoins compared to e-wallets or bank transfers. In the former, centralised monetary authorities require full disclosure of your gambling funds. However, there are no centralised monetary authorities to red flag your massive withdrawals with cryptos.

There are numerous cryptos in Singapore, depending on your taste and preferences. You may go for Bitcoin, Ethereum, Dogecoin, Tether, or Litecoin. 

Mark Reynolds

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