Cardano Casinos

We’re living in a world of constant innovation and progress, and we’re facing a time where online payments have become more and more advanced, especially since the concept of cryptocurrencies first appeared with Bitcoin. But Bitcoin led the way to plenty of other digital currencies to be created, Ethereum being the next of kin. But, a few years ago, the third-best crypto appeared the world has yet to recognize truly, Cardano. What is Cardano and why use it across online casino sites?

About Cardano

As introduced, Cardano is considered the third-best crypto following Bitcoin and Ethereum. It is one of the top 10 digital currencies on the CoinMarketCap and is considered a global blockchain initiative since it is the first blockchain that has been academically developed by a group of experts and peer-reviewed.

In fact, it has been created in 2015 by the co-founder of Ethereum, which abandoned the Ethereum project due to differences with the team. Charles Hoskinson, who left Ethereum, is one of the team members behind Cardano. He and the team created this new blockchain, often considered the third-generation blockchain, out there to change the complete picture about how cryptocurrencies should work. But three organizations are behind the project, the IOHK (Input-Output Hong Kong) founded by Hoskinson and Jeremy Wood, the Cardano Foundation in Switzerland, and Emurgo, which is an initiative that supports startups, developers and enterprises developing blockchain solutions, a sister company to IOHK.

Cardano’s native token is called ADA. It was officially launched in 2017. But, there’s a fun fact we’d like to share with you when it comes to the names. Cardano has been named as such after the Italian mathematician and polymath Gerolamo Cardano, while ADA is named after the British mathematician, Ada King, both brilliant mathematicians, contributing to the world of computer programming and proving the math potential of computer devices.

Now, about the blockchain itself, it is a decentralized and open-source project designed with the aim to facilitate peer-to-peer transactions, working with smart contracts, but not developed on the already existing chains, like most other cryptocurrencies. The team created it from scratch, with a very academic and data-driven approach. When it was first tested, upon launch, it showed an incredible speed, processing 257 transactions per second, compared with Bitcoin’s 4.6m and Ethereum’s 15 to 20 transactions per second.

And with all this in mind, it is no surprise to learn that this cryptocurrency is taking over the world, the online gambling industry included. Online casino players are stunned by its speed, its foundation, its goal and the experts behind it, and are becoming more and more interested in investing in it and using it for deposits and withdrawals. That's why you should know that Cardano is becoming accepted across more and more online casinos each month. So, if interested in getting started with it, just follow our lead.

Getting Started with It

Considering what you’ve read about Cardano so far, you've probably noticed that it is a revolutionary crypto that is yet to make a boom. And you have probably noticed that it is somewhat unconventional, being designed from scratch and not using the underlying technology from previous cryptocurrencies.

But you’d be surprised to learn that ADA, its token, cannot be mined. Given the fact that it does not implement the PoW (proof-of-work) consensus model, and there are no miners involved, it all depends on the network nodes through the wallets and staking pools to achieve network consensus. Validators, the nodes, secure its integrity since they are being tasked with keeping an always-updated copy of the blockchain state, which is then used for verifying transactions.

You need to remember two addresses when storing your tokens, one for staking, the other one for transactions. On that note, to store your ADAs, you would need to create a wallet. There are many types of wallets you can use, such as Yoroi, Trezor, Daedalus or Ledger, for instance, as well as other hot wallets across currency exchanges such as Gemini, Binance, Coinbase or Kraken, you can actually purchase your tokens.

And on that note, once you create your wallet, by creating an account and synchronizing it to the Cardano network, you’ll be able to purchase some coins using Ethereum, Bitcoin and stablecoins like BUSD, USDC and USDT. When purchasing, you would need to open an account with the crypto exchange, have your wallet ready, and transfer the purchased coins back to your wallet.

How to Make a Deposit with Cardano at Online Casinos?

Considering Cardano is still fairly new, with the official launch of the ADA token in 2017, you should know that it is still not available across too many online casino sites, even though you will find a decent number of casinos that are already offering it. Therefore, explore several sites that offer it, and find a legit, licensed and safe one for you to join.

After you’ve joined such a site, to make a deposit with the cryptocurrency, you would need to do the following:

1. Visit the casino’s Cashier/Deposit section.
2. From the list of offered methods, choose Crypto or if you see Cardano’s logo, click on it.
3. In the pop-up window, enter the amount you want to deposit at the casino, and the required addresses.
4. As soon as you confirm the transaction, the deposit will be processed right away!

Deposits with this cryptocurrency, as you would assume, are instant upon confirmation. But keep in mind to double-check the addresses before you confirm the transaction, because like with any other crypto, transactions are irreversible with this cryptocurrency, as well.

How to Withdraw Your Winnings with It?

Withdrawals with Cardano are possible, just like with any other cryptocurrency, and you would need to go through a similar procedure to the one we just described.

You would need to look for the solution from the Cashier/Withdrawal page and request a transaction by entering the addresses and specifying how much you wish to withdraw. This time, however, you would need to wait for the casino to approve the transaction, by verifying whether you have enough coins to cash out, as you requested. As soon as the casino approves it, the coins will land into your crypto wallet in an instant.

Fees

Fees are charged by the staking pools which compose the validator network, and these can vary. That’s why the first thing as an ADA staker that you need to consider are those fees.

No fees currently apply for the memory cost of tracking the accumulated chain state. Before you decide to use it, though, make sure you check with your casino to see whether any fees apply on its part. Fees by the exchange platforms go without saying.

Available Countries

Cardano is a global blockchain initiative, as mentioned, which is available to anyone, anywhere across the world.

Therefore, it is a great solution to use as an online casino player, since there’s often a lack of payment methods available in many countries. With this cryptocurrency, regardless of where you’re playing from, you’ll experience seamless online transactions.

Accepted Currencies

You cannot currently purchase ADAs using fiat currencies. As mentioned before, you can only purchase the token using BTC, ETH and stablecoins BUSD, USDC and USDT.

Therefore, if you want to purchase some ADA tokens, you should make sure to be a holder of Bitcoin or Ethereum or at least the stablecoins.

Customer Service and Support Options

You should, first of all, know that Cardano’s official website is filled with information and completely transparent as to how the whole process works. There are countless pages explaining the concept behind it, the goals and protocols involved, therefore, if anything is unclear to you, you will be able to understand it by exploring the website.

But, in case you wish to get a direct answer from the three organizations, there’s also a contact form on the Contact Us page which you can fill out and their teams will get in touch with you the first chance they get.