South African Online Casinos Embrace Cryptocurrency
Blockchain and cryptocurrency are often seen as the future of money. South Africa leads the world when it comes to cryptocurrency ownership. Recent figures estimated that 10.7% of South African internet users own some type of cryptocurrency, well above the global average of 5.5%. Online casinos have adopted many technological advances, including cryptocurrency, and crypto casinos have become increasingly popular in recent years. Today, many South African players are reaping the benefits of making cryptocurrency deposits and withdrawals at online casinos.
The Rise in Popularity of Cryptocurrency in South Africa
The first cryptocurrency, Bitcoin, was released in 2009. It is a decentralized currency that operates on blockchain technology, a public ledger where all transactions are recorded. No individual, organization, or government has jurisdiction over cryptocurrency, and this is what makes it popular with some people. In recent years, crypto has moved more into the mainstream, drawing interest from banks and financial institutions.
People in South Africa have been quick in making a move to digital currency. South Africa is among the leading nations for ownership of cryptocurrencies. It is estimated that 16% of the population owns and uses cryptocurrencies in their everyday lives. This ties in with the growth in smartphone use and relative ease of access to the internet in South Africa. Connectivity also means that players can access their favorite online casinos and are now using cryptocurrencies to make deposits and withdraw their winnings.
Crypto: Changing South Africa’s Gambling Scene
Cryptocurrency and blockchain technology have made gambling at online casinos in South Africa even more popular and more crypto-friendly. The main reason is that crypto transactions are best for making simple and fast payments and receiving winnings. Fees are lower than for traditional banking methods. Crypto also gives players an added layer of security because they do not have to share their financial information with the casino. Players can legally create a crypto wallet and use this to receive and transfer funds without giving too much personal information. Currently, plenty of South African online casinos accept and offer crypto as a choice, and the number is expected to grow.
SA Online Casinos That are Crypto-Friendly
Online casinos are booming worldwide, driven by improvements in technology and easier access, and South Africa is no exception. Crypto players that are looking for a full-package online casino in South Africa should start their quest with the most popular sites in SA rated currently. Many popular brands are on the list, including SA operators and other prominent foreign online casinos that accept players from South Africa. Below we’ve featured a selection of our top picks and given a brief overview of each.
- Neon 54 Casino: This is a relatively new casino that gives access to some of the top games around. Make a deposit, and there’s a choice of welcome packages, including one which offers a 100% match bonus of up to $500 and 100 free spins. Neon 54 offers a range of payment options, including Bitcoin.
- Slots Capital Casino: Slots Capital is a casino with a strong focus, as the name suggests, on slot games. It offers a great selection from several providers. New players will be offered a 277% match bonus up to $2777. There’s a no deposit bonus of $7 available when you enter a code. The casino offers a variety of payment options, with cryptocurrency among them.
- Thunderbolt Casino: Sign up to Thunderbolt, and you’ll get a match bonus of 100% up to $2,500. You can get an exclusive 100 free spins on Caesar’s Empire slot when you sign up via the Top10 site. You’ll find some great games and promotions on offer at this casino. While it doesn’t accept cryptocurrency, it offers payment options such as EasyEFT and SIDEFT, and you don’t need a credit or debit card to use them.
Most Popular Cryptocurrencies Accepted by Casinos
If you haven’t already used cryptocurrencies, it is easy enough to get started. Set up a crypto wallet and then get your hands on some currency to put in it. You can get started by buying crypto with your preferred currency at a reputable exchange. Some people buy crypto to invest, and some people use it to spend, most people do a bit of both with it. South Africans have been quick to adopt cryptocurrency, and this may be due to the high level of privacy it offers.
Whatever the reason, more casinos and players are choosing to use cryptocurrency. There are a few cryptocurrencies that are mostly accepted and offered as a choice at online casinos:
- Bitcoin: The pioneer amongst cryptocurrencies, Bitcoin is still the number one choice among crypto users.
- Ethereum: Ether coins are the second most popular cryptocurrency globally. Although not as valuable as Bitcoin, it does have a faster transaction rate.
- Litecoin: Globally, this is the 6th most traded coin, but its fast transaction rate makes it ideal as a payment option.
Cryptocurrency and blockchain technology have been seen as a force in sub-Saharan Africa, especially in areas with limited access to bank accounts. People have easily mastered crypto and merged their lifestyles with all the benefits of crypto. With major worldwide companies like Visa now looking to invest in crypto, it seems like this technology is here to stay. With a young population that is technologically savvy and has access to the internet, crypto usage in South Africa will continue to grow. It follows that there will be an increased demand for crypto gambling, and the rest of SA online casinos will have to adjust to what the players want.