Monero (XMR) is a kind of electronic money that is widely used for making confidential payments. It was released on the electronic currency market in 2014. In most cases, this coin floats up in memory as a means for making transactions in the darknet. However, this is not true. At the moment, the coin is included in the top 9 most used cryptocurrency. Monero is not linked to any monetary currency and is emitted through special cryptograms. Therefore, it is not afraid of inflation, since it is completely independent of the real currency and banks. Monero was created on the basis of the ring signature algorithm, CryptoNote, implemented into the network in 2012. This guarantees a higher degree of reliability and anonymity. The Bitcoin code, which is widely used during the creation of other electronic coins, is not applied.
Deposit and withdrawal method
Monero like any electronic currency should have a place for storage. The most popular and convenient way is electronic wallets. Having a special address, you can easily make Monero Casino Deposit.
The most popular option is to use the official online wallet, MyMonero. This is ideal if you are going to store your coins for long period in addition to casino deposits. The registration process is simple and does not differ from other wallets. Monero wallet works for several years and the service does not store private keys on the server. This indicates a high level of security.
Another option from the manufacturer is the official local Monero Wallet. You must have more advanced skills. It will be necessary to install special software and download the blockchain. The process of synchronizing with the network can take a long time; further, your computer will have a constant synchronization with the Monero blockchain. The main thing when installing the program is to make a seed (a set of phrases) to recover the wallet. It’s also worth considering that the Monero desktop analog works only with the 64-bit operating systems. However, this is really the safest option for storing a large number of coins.
Many owners of Monero also prefer to store their coins on stock exchanges. In automatically receive a wallet and address by registering on one of these sites. This is convenient since you can buy coins directly on the exchange. In addition to Monero online casinos, you can also try your luck by trading coins. Buying when the currency is cheap and selling when it is expensive, you can improve your capital.
In case of problems with your Monero wallet, you can contact support. You can find a special section on the site MyMonero. Select one of the available emails for communication depending on the purpose. In general, the answer comes in 24 hours. If you keep your coins on the stock exchange, contact their support.
Advantages and disadvantages
To begin with, you must understand the advantages of Monero over conventional currency. Unlike the usual money, the cryptocurrency is not issued by a financial institution. It is used only on the network, so transfers are carried out without the intervention of banks. As a result, we have a small commission and reliable cryptocurrency, which does not depend on external factors. Also, it is worth considering that Monero has a limit of manufactured coins, which guarantees a constant increase in demand.
Fans of online casinos and online purchases, in general, will go into raptures of the transactions speed. Unlike Bitcoin and some other cryptocurrencies, the Monero cryptogram does not allow other users to view the history of your transactions. Only the wallet owner has the key so neither the federal services nor other users can view the data.
The only drawback of the currency is a small number of users. This fact makes it difficult to hide large transactions and the number of Monero Online casinos is not so great. Now the developers are actively working to promote the currency. Taking into account the high anonymity and the growth in demand for cryptocurrencies in general, success is quite assured.
- independent of state and international currency;
- small commissions;
- stable cryptocurrency;
- has growth prospects;
- fast transactions;
- complete anonymity;
- data protection.
- do not popular enough compared to other cryptocurrencies.
Cryptocurrency is considered the safest due to the blockchain network. At the moment it is the safest system of information storage and transmission. The principle of work is to distribute information on different blocks. Such a system is complex for hacking because to obtain the information it is required to access all the blocks involved at the same time. Monero coins are stored and transmitted in this way, but they use a special cryptography algorithm, CryptoNote, that differ from Bitcoin. Unlike Bitcoin’s public key, which allows everyone to view your transactions, Monero provides maximum anonymity and the key that only the owner of the wallet has.
Casinos that accept Monero
Now we will move on to the part which many are reading this article for. A few online casinos that accept Monero exist at the moment. Cryptocurrency is popular only in certain circles and has not found its glory among the masses. However, there are special casinos that accept exclusively digital currency and Monero is one of the deposit and withdrawal methods.
FortuneJack.com is one of the first and most popular cryptocurrency casinos. It has a positive reputation among players and the gambling market as a whole. You can find a large number of games with different themes and genres there. Newcomers will receive a pleasant surprise in the form of a welcome bonus.
Next, it’s worth mentioning the popular 1xBit.com. It is one of the Monero online casinos and provides a large assortment of quality games. One of its advantages is the availability of bets on sports: football, horse racing, rugby, chess and other. Cybersport lovers can also try their luck there; the casino accepts bets on CS: GO, Hearthstone, Dota 2, League of Legends and Overwatch.
Crypto-Games.net is a popular place among the owners of cryptocurrency. It accepts Monero and offers fair games, including slots, video poker, roulette, and blackjack games. Nice bonuses and suggestions will raise your interest in the game process.
LuckyGames.io attracts players not only because it’s one of the online casinos that accept Monero, but also because of the variety of games. The site offers rare examples that you will not find on other cryptocurrency casinos. LuckyGames has a high level of trust in the gambling circle.
Also, you should know about the exclusive Monero Casino, Monerodice, which accepts only this coin. The site has a comfortable and intuitive interface with the attractive design. The quality and quantity of games are awesome.
999dice offers its players not only Monero as one of the methods but also reduced withdraw commissions. Most casinos charge 1% of the amount, but 999dice takes 10 times less – 0,1%; it pays out almost 100% of your winning. Also, the site gives an opportunity to receive free Monero coins once every 2.5 minutes.
Alternatives To Monero For Funding Online Casino Accounts
Some may not be comfortable with the choice of Monero online casinos. It should be noted that this is normal for the developing cryptocurrency and the number of sites will grow in the coming years. At the moment, the most common currency is Bitcoin. It has much in common with Monero and both were created for the same purpose, internet payments. Both use identical technologies of information transfer and coins earnings. However, it is worth noting that Bitcoin, due to the large demand, is more complex for mining than the young Monero.
Also, Ethereum, Litecoin, Zcash and other cryptocurrencies are worth considering as an option for replacing Monero. Each of the coins has its own advantages and the chances for development.
Monero is a young but promising cryptocurrency. It has a number of quality Monero online casinos that have good games, 100% guarantee of fairness and are easy to use. At the moment, the number of such sites is not as great as in the case of Bitcoin, but the situation will change in the coming years. Monero is a potential coin for mining since it has a blurred block limit, which will be reached only in 2020 -2021 according to the prognoses.
- What does distinguish Monero from other currencies?In addition to fast and cheap transactions, Monero offers increased anonymity. Only the owner of the wallet has the key to access it. No one can check the number of coins and transaction history except you. The level of privacy will only grow with the number of new users. This fact also makes the system more secure from hacking.
- Where to buy Monero coins?The easiest option is for exchangers and stocks. You can easily buy Monero for another cryptocurrency or exchange the usual currency (dollars, euros, etc.) for coins. The transfer also acts in the opposite direction. The exchange is carried out at the rate established at the time of the operation. Another option is the middlemen who send the right amount to any wallet.
- What’s the difference between Monero and Bitcoin?Bitcoin is considered the first digital coin and popularizer of cryptocurrency in general. However, this does not mean that it is perfect. Monero, as well as many other crypto-currencies, appeared as a result of attempts to correct Bitcoin mistakes. First of all, Monero uses the algorithm of the ring signature CryptoNote. This ensures maximum reliability and privacy. Also, unlike Bitcoin, who has already lived his time of popularity and appreciably loses value, Monero has great potential and shows stable growth in the market at the moment.
- What can I also use Monero for?Monero can be exchanged for real money or used directly on the net to pay for various goods. Some resources provide an opportunity to pay off with cryptocurrency. Basically, this number includes gaming portals, shops of mining equipment, and fast-earning sites with a pre-investment. Gradually, this list will grow, so stay tuned for news of cryptocurrency.
- Which prospects have Monero?To date, Monero’s capitalization relative to Bitcoin is 1 to 100. This is about 60 million dollars (Bitcoin’s capitalization reaches 9 billion dollars) and it is constantly increasing. This indicates a large potential growth of the Monero. Many experts and analysts say that now is the time to buy Monero in order to obtain a good profit in the future.
- Why is Monero in the case of casino deposits?
- Monero is more promising in the case of online casinos than Bitcoin and others due to increased anonymity. BTC makes it possible to track transactions because of the open source code. Monero provides additional data privacy due to:
- ring signatures CryptoNote;
- separate private keys for viewing and spending coins;
- Confidential Transaction Technologies (RingCT).
- Which way to store Monero coins is better?It all depends on how you are going to spend your coins and in what quantities. Electronic wallets are great for storing large amounts. They are suitable for Monero casino deposit due to ease of use. You can also try to store money on stock exchanges. Then you will quickly buy coins and will be able to try yourself in trade.