There’s no way to magically figure out which Binance Coin casino is the best. However, you will want to consider a few factors, such as the reputation of the casino, the games catalogue that they offer, as well as the support and bonuses they provide. Other factors, like the user experience and their payment processing options, should also be considered.
Best Binance Coin Casinos
There are now hundreds of different cryptocurrencies out there. Of course, Bitcoin is still the most popular, and arguably the first name on any person’s mind when we talk about them. But many other cryptocurrencies now also offer practical applications. For instance, Binance Coin is one of the most popular digital currencies in the world right now. Even though Bitcoin is much bigger in terms of market cap and value, it lacks the functionality that many other cryptocurrencies offer. The fee charged is also considerably high, which is one of the main reasons why Binance Coin, or BNB as it’s known, has become so popular.
At CryptoCasinoInfo.com, our main objective is to provide you with relevant information about crypto casinos, such as Binance Coin casinos, including how you can find the best Binance Coin casinos, how you can deposit Binance Coin and withdraw it, and its advantages and disadvantages. Our comprehensive Binance Coin casino review will make it easy for you to find the best casinos that accept Binance Coin.
What is Binance Coin?
Binance Coin is the official cryptocurrency that is issued by the Binance exchange, which is also the world’s largest crypto exchange. Its ticker symbol is BNB, and it was originally based on the Ethereum blockchain. However, as Binance grew, the company launched its own blockchain network called Binance Smart Chain (BSC), and BNB is the native currency of the BSC.
Each quarter, Binance buys back some BNB with their profits in order to “burn” them, thereby reducing the circulating supply, and thus increasing their value. Binance Coin was originally created to facilitate trading fees on the platform, though its applications have grown significantly since then.
Today, Binance Coin is used for purchasing online services, fiscal services, travel bookings, and entertainment purchases. With a market cap of more than $56 billion (as of December 2021), Binance Coin is fourth on the list of the biggest cryptocurrencies in terms of their market cap, coming in behind Bitcoin, Ethereum, and Tether.
The maximum limit for Binance Coin is 200 million tokens. During the initial coin offering (ICO), the company offered 100 million Binance tokens. But the current total supply is actually much less, as Binance continues to burn coins in its treasury. Due to the fact that Binance Coin was originally designed as a utility token, it has lower trading fees.
You can use it to make payments on multiple platforms, as well as use it to pay for entertainment reasons, such as gambling and casino sites or buying virtual gifts. You can also use it as collateral to take out Defi loans online. Binance Coin can also be used for investing in newer ICOs that are released through Binance’s Launchpad program.
Because of the lower transaction fee, it is one of the most popular choices for people who like to play in online casinos. It’s also widely accepted, which is another plus point.
What Are Binance Coin Casinos?
A Binance Coin casino is simply defined as an online casino where you can transact and play casino games using Binance Coin (BNB). Whereas conventional casinos generally require players to deposit money using fiat currencies like the euro or the US dollar, Binance Coin casinos let players use their BNB wallet to buy chips and play online. Binance Coin casinos have risen in popularity in recent years, mainly because of the lower transaction fees and heightened security that they provide.
There has been a major shift in the way online casinos handle payments, with many of the larger online casinos now adding support for popular cryptocurrencies like BNB. Binance itself has been playing a critical role in driving acceptance for its coin. When you deposit with BNB, most casinos generally convert it to an equivalent amount in a fiat currency, such as the USD, based on the spot rate.
However, there are some Binance Coin casinos when you deposit your BNB in the casino, and it is never converted, and all your bets are made in BNB too. Thus, withdrawals are only allowed to BNB wallets. So, if you don’t want to convert your BNB, this is a great choice.
You can either store your BNB in a cold or a hot wallet. If you already have an account on Binance, the entire process becomes infinitely easier, making Binance Coin casinos an ideal choice for them.
Binance Coin Casino Games
Now, if you are interested in playing at a Binance Coin casino, you might be thinking about the different games available. However, if you choose a pure crypto casino, almost all the major game offerings will be available to you.
You can expect games from all the big players, including the Yggdrasil Group, NetEnt, Playtech, Odobo, Evolution Gaming, IGT, Microgaming, and many others at the top Binance Coin casinos. Obviously, the specific game variety will vary depending upon the casino’s licensing jurisdiction, and where you are playing from. However, rest assured that you won’t have to worry about a lack of games when gambling with BNB. Almost all of them offer major games including poker, bingo, and numerous sports games.
Binance Coin Casino Bonuses
One of the biggest draws for people who like to play at online casinos is the bonuses and promotions on offer. And, as you would expect, a sizeable welcome bonus awaits players when they join any popular Binance Coin casino. Ideally, the welcome bonus usually includes a deposit match up to a certain limit based on the amount you deposit the first time. Depending upon the game you play, you might be eligible for additional bonuses, like a set number of Free Spins. However, it is important that you check whether the casino you are playing at offers any extra bonuses for depositing BNB.
It is also equally important for you to go through the fine print before accepting the offer. Always check the terms and conditions page so that you know exactly what the offer entails. For instance, some common pointers that you need to look out for include:
- The maximum bonus offered
- The minimum deposit required to claim the bonus
- Which coins is the bonus applicable on?
- The validity period of the bonus
- Any specific wagering requirements
- Maximum bonus winnings that you can transfer
Apart from the welcome bonus, most BNB casinos also offer additional perks, such as loyalty bonuses, slots leaderboards, reload bonuses, and a lot more. As mentioned before, it’s best to go through the terms and conditions for any offer before you claim an offer, as you might not be eligible or the terms might not be very favourable.
Binance Coin Casino Deposits
Once you are ready to start playing at a Binance Coin casino, the first thing you will have to do is to register an account. Then, you will need to deposit BNB into your casino account. If you haven’t bought Binance Coin, or any other crypto for that matter before, the process itself is fairly easy and straightforward.
Buying Binance Coin (BNB)
You can buy Binance Coin from its native exchange, Binance.com. You can also buy it on a few other platforms such as FTX, KuCoin, and Bithumb. Once you have created an account with an exchange that offers BNB, you will have the option of using your credit card to make a purchase. Ideally, if you are going to store BNB for the long term, it might be a wise idea to move your crypto into a cold wallet. It’s important that you keep the private keys safe and do not reveal them to anyone else. Once you have the BNB in your wallet, you can easily transfer it to any BNB casino.
Depositing with Binance Coin (BNB):
- First, log into the casino account and go to the cashier’s section.
- Then, select the option to deposit funds. You will see a list of different cryptocurrencies. Select Binance Coin from this list.
- A BNB address, or a QR code, will be shown on the site.
- Now, go to your BNB wallet, and select the option to transfer BNB.
- Simply copy the casino’s wallet address into the given area or scan the QR code.
- Then, input the amount of BNB that you want to transfer into your casino account.
- Always review the transaction details, including the amount, and the wallet address. If you don’t enter that correctly, you’ll lose your BNB forever.
- Once you have checked everything, submit the request.
- The BNB will be transferred within a few minutes from your wallet into your casino account.
Withdrawing with Binance Coin
- To withdraw, you will have to first log into your casino account and go to the cashier’s section.
- Select the option to withdraw.
- Input the amount of BNB that you wish to withdraw from the casino.
- Then, open your crypto wallet and copy the BNB address for your wallet. It’s the receiving (public) address in your account, so copy it exactly.
- Always review the address to make sure that everything was entered correctly before you submit the request.
- Wait for your BNB to arrive in your wallet. The amount of time it takes depends on how long the casino takes to process your withdrawal request. Once your withdrawal is processed, your BNB shouldn’t take more than a few minutes, plus the casino will send you a notification too.
Advantages of Binance Coin Casinos
Security – Arguably one of the biggest benefits that you get for using crypto like BNB is that the transactions are incredibly secure.
Decentralized currency – More importantly, since Binance Coin is a decentralized currency, you don’t have to worry about payments being processed by third parties or managed by a centralized party. This helps maintain the network’s integrity too.
Reliability – On top of that, you should know that BNB is incredibly reliable. Unlike fiat currencies which rely primarily on centralized institutions, crypto doesn’t rely on a singular party to process payments.
Anonymity – If you’d like to stay anonymous when gambling online, you should definitely consider going for crypto. Binance Coin is fairly anonymous as your personal information is never revealed, however, the exchange and casino will know who you are as you will have had to submit KYC docs.
Fast Transfers with Low Fee – Transactions made with BNB are generally completed quickly, and you also pay fewer fees.
Disadvantages of Binance Coin Casinos
No Returns – Once the transaction is complete, there’s no going back. So, if you make an error with the wallet address, you’ll lose your money forever.
No Possibility for Chargebacks – Since there’s no recourse available, so you can’t file a chargeback. There’s no way to reverse a transaction. That’s why it’s so important that you only join a reputable casino.
Highly Volatile – More importantly, you should know that most crypto coins are generally quite volatile. The price of BNB can fluctuate considerably in a short space of time, so it might sometimes not work in your best interests.
Binance Coin (BNB) Casino FAQs
How do I choose the best Binance Coin casino?
Are Binance Coin casinos considered a scam?
There are always a few bad online casinos that give the entire industry a bad rap. However, there are plenty of legitimate offerings too. Before you sign up with any online casino, it’s imperative that you do a bit of research first to find out whether they have the appropriate licenses and read reviews first.
Are Binance Coin casinos even legal?
This primarily depends on the country. Crypto payments are legalized in many countries, but they are deemed illegal in several countries. If you live in an area where online gambling is legal, including crypto, then you probably don’t have to worry about anything. It’s best to check the local laws before you start playing including any relevant taxes for winnings.
Manuel lives in Argentina and is very passionate about casino games and the adrenaline that the games imply. Manuel has also a burning interest in the crypto market and its opportunities. In his free time, he likes to do extreme sports in nature, such as climbing the mountains of Patagonia and diving in the sea.