Binance is the largest crypto exchange globally, founded in 2017 by Yi He and Changpeng Zhao. Soon after its launch, it released its very own cryptocurrency called the Binance Coin or BNB. The value of BNB spikes every time the BNB tokens are mined.
Like other leading cryptocurrencies such as Bitcoin (or bitcoin gold) or Ethereum, Binance Coin can also be used at any online casino. Binance Coin Gambling is one of the most popular gambling activities players enjoy all over the cryptocurrency world. Online BNB gambling at all leading BNB casinos lets players play online casino games of their preference. Many game providers are providing provably fair games to these websites. Moreover, BNB gambling allows users to use their BNB live casino tokens to receive discounts on transfer fee s that crypto traders charge when trading on the Binance cryptocurrency exchange.
How Can You Use Binance Coin BNB To Gamble?
While the Binance Coin was initially released to be used exclusively at the Binance Exchange, BNB live casino has several other uses; one of such uses is to use the BNB to gamble at the various online casinos. Gambling on BNB is straightforward; users can gamble at the live casino (Binance casino) using the following steps:
- Log in to the Binance crypto casino account and visit the cashier page, where there is a wallet address that the players need to send their cryptocurrency payments to.
- Log in to the Binance online wallet and on the deposit page, users need to enter the online crypto wallet address to send their cryptocurrency.
- After entering all the details, users should click on the “Confirm” button to complete the payment, for which only a small fee will be charged when they place bets.
Difference Between Binance Coin Gambling and Traditional Gambling
Binance Coin Gambling on the end-to-end BNB casino sites is different from Traditional Gambling on standard gambling sites. The difference is discussed in detail below:
|BNB Gambling||Traditional Gambling|
|Binance Coin Gambling websites accept a wide range of digital currencies as their deposit or withdrawal methods.||Most traditional gambling sites accept only fiat currencies. Even if they accept BNB as their deposits or withdrawal methods, it automatically gets converted into fiat currencies when the players deposit money in the BNB live casino.|
|Users can use BNB as their deposit or withdrawal method. As such, the BNB remains in the crypto casino account of the players as BNB; it is not converted into fiat unless otherwise instructed by the players.||No BNB can exist in the crypto casino account because it gets converted into fiat currencies immediately.|
Pros and Cons
BNB gambling has its pros and cons. Most online casinos are now switching from fiat currencies to a more convenient mode of dealing; BNB is one such leading mode of dealing that has been enjoying raging popularity in the cryptocurrency world. This mammoth popularity of the Binance coin has led the coin to be used in leading Binance casinos worldwide
Binance Coin Bonuses
Using Binance Coins in crypto gambling sites opens up enormous opportunities for players to earn lucrative bonuses, free spins, and other promotional offers.
Binance Coin Bonuses are among the best bonuses offered by online casinos all over the world. Among the best BNB bonuses, the best is being provided at some of the leading cryptocurrency casinos- 2,97 BNB on the first four deposits made by players, along with 150 free spins on selected live casino games. A cryptocurrency jackpot also offers seasonal promotions for existing players, a cash prize (real money) jackpot, and a welcome bonus for new traders who trade on the Binance Futures markets.
Then there is a faucet available for players looking for a demo version of the crypto casino, and they want to test the crypto casino for free. However, Binance Faucets are not viable for live casino players because most Binance casinos require players to make some initial investment. If they are lucky, they can win much more than what they have invested.
Apart from the bonus offers, Binance coin live casino gambling also offers traders a 25% discount on the spot trading fees and margin trading fees for making online BNB live casino trades.
Using Binance live casino coins in gambling puts off all hacking risks and lets users play their favorite live casino games or table games safely. The Binance exchange is the largest cryptocurrency exchange globally that lets its members store their coins in a safe online wallet. Moreover, all online transactions at the Binance live casino are encrypted and protected with 2FA (2-factor authentication), ensuring no hacks of the clients’ money. A dedicated Binance Coin app can be downloaded on all iOS and Android phones to enable players to buy cryptocurrencies in any of their favorite Binance Coin casinos.
Therefore, using Binance coins for making instant deposits on the Binance casino sites is safe. Moreover, with Binance gambling sites, the transactions are anonymous because it is ultimately the blockchain network that rules the Binance coin casinos. Therefore, it can ensure the security of transactions without even the banks knowing anything about any player participating in any BNB online casino.
Unlike bitcoin powered traditional gambling sites that have to deal with complex issues like bank account management, payment getaways, and also have to comply with a vast number of financial regulations that often render their transaction speed as well as their withdrawal speed significantly slow, with Binance Coin, speed has never been an issue, be it with transactions or with deposits and withdrawals. This is partly because all the Binance Coin gambling sites are regulated (most of the time under the Curacao Gaming Authority) and are also subject to much lesser financial regulations. Therefore, the Binance casinos can pay more attention towards rendering their services faster and more swiftly.
Moreover, the top BNB gambling sites have “No” limits on their deposits and withdrawals, so players can instantly get their money, which is impossible with traditional gambling sites. However, there may be a wagering requirement attached with some of the games and the players have to comply with the wagering requirement first before they can withdraw their winnings.
Inexpensive and fast
Binance Coin transactions are made on the BSC or the Binance Smart Chain, which in general are much cheaper than other blockchains like networks like Ethereum and Bitcoin. Transaction fees on a BNB coin casino are as low as 0.02% while purchasing cryptocurrencies and using them to play selected games on the casinos. However, higher fees may also apply (3 to 4.5%) in cases where players use a debit or credit card for making their deposits and there may be a wagering requirement for the players to comply.
Risk of loss
Binance Coin operates on a decentralized blockchain network which means there are no middlemen like banks or other financial institutions to interfere. But it also has its downsides; decentralization often leads to cryptocurrency thefts or hacks. If the Binance coin sites are dishonest, there is no way players can get a refund. Also, buying, selling, or even transferring Binance Coin involves direct dealing and is often lost. However, in such cases, Binance offers an alternative dollar-backed stablecoin called the Binance USD that the traders can use safely while trading BNB.
Site Licensing and Unregulated
Even though most of the Binance gambling sites are regulated by the Curacao Gaming Authority, the Financial Conduct Authority (FCA) of the United Kingdom does not allow even the regulated Binance transactions, which cause a lot of problems for the players to try their luck on various lucrative bets made in the Binance casinos.
Set up an e-wallet
Before players can start using cryptocurrency funds at any Binance casino, they need to trade first, which involves buying, selling, and transferring BNB live casino tokens, which can only be done after they set up a Binance e-wallet to store the coins that they purchase. Thus, the players must set up an e-wallet before playing different games at the Binance casinos.
How Binance Coin Help People To Gamble Online?
Using Binance Coin for gambling offers a lot of perks and benefits that traditional casinos cannot provide; the most important benefit is the anonymity of transactions that, in turn, keeps the data and funds of the players safe and secure. Some of the other benefits of using Binance Coin at the various online casinos are discussed below:
Ultimately, all the transactions carried out in gambling with Binance coin occur within the Binance blockchain network. Therefore, players can play provably fair games, and the transactions are swifter; without the interference of any middlemen like banks or credit card companies.
BNB live casino offers players some of the lowest fees structure, like discounted spot trading fees and margin trading fees on trading Binance coins on any leading gambling website. Traders can also avail discounts on buying and selling the BNB live casino tokens and paying fees at the Binance cryptocurrency exchange site. Moreover, the recently released Binance Launchpad program gives users access to exclusive BNB sales. There is also an additional commission of 40% offered to players as part of the Binance Referral scheme; each player gets a commission of 40% on their trades for bringing their relatives and friends to the gambling sites, or when the referees register at the Binance crypto casinos using the links provided by the players. Also, the Binance Smart Chain, cheaper than other leading blockchain networks, reduces the transaction fees on cryptocurrency purchases to as low as 0.02%.
Unlike traditional casinos, where payouts are much slower and the customers are often bored with the timed-out transactions while they play the provably fair games offered, most crypto casinos using Binance coin for online gambling provide better and faster payouts. Moreover, most gambling sites do not impose restrictions on the maximum amount of deposits and withdrawals, making it easier for players to try these crypto casinos and withdraw their winnings quickly. But there may be a wagering requirement stringed with the faster payout requirement and this wagering requirement needs to be met before proceeding.
Fun to Play Games
Gambling sites feature an extensive list of exciting and fun Binance casino games to choose from that they can play with any of their preferred cryptocurrencies. There are fun-filled slot machines that players find very interesting. But before the players can use these cryptocurrencies to begin playing any of their favorite games or the slot machines games in the casinos, they need to trade those digital currencies (buy, sell or exchange them) in the Binance exchange. Players are also required to check whether any wagering requirement is attached to any game on the BNB casino site.
Signup Bonuses & VIP Program
Crypto casinos that provide online gambling with Binance Coin offer its newcomers lucrative signup bonuses, free spins, and VIP programs. At the same time, they play the provably fair games provided by the casinos. Unique promotions have always been a part of their strategies because they believe that encouraging fresh players can bring enormous revenues for the casinos, especially from the slot machines and other table games. Various deposit bonus offers also form an essential part of the bonus programs. A deposit bonus is provided to players when they make their first deposit into the casino. Then there are subsequent deposit bonuses apart from the various welcome bonus offers like the 1st time crypto deposit bonus, 2nd crypto deposit bonus, and so on.
However, some of the best BNB casinos offer bonuses (both welcome and deposit bonuses), free spins, and other promotions that are strung with a wagering requirement like 30X to 60X of the amounts deposited by the players. Players need to wager the deposit bonus amount before they can withdraw their winnings from a BNB casino. Therefore, it is always important to check with the particular wagering requirement attached. The welcome bonus offers a deposit bonus, free spins, or VIP programs offered by the casinos that allow online gambling with Binance Coin. Players should also choose crypto casinos with clear terms for their VIP programs and offer a generous deposit bonus, welcome bonuses, and various rewards only to loyal customers.
Important Factors to Consider Before Choosing Any Binance Coin Gambling Sites
Binance Coin is among the top 5 cryptocurrency coins by market capitalization. Therefore, a growing number of online casino sites now accept BNB to allow players to play games at the casinos. However, there are certainly important factors to consider before choosing the various gambling sites to play online games:
Restricted Countries & Regulation
This is an essential aspect that most punters are unaware of while betting; all online crypto casinos accepting Binance Coin may not be legal. The legal gambling sites will not accept registration from cryptocurrency traders who are settled in restricted countries. Binance Coin is legal as it is powered by the largest crypto exchange in the world -the Binance Exchange ecosystem. Still, the legality depends on the casino sites that are accepting Binance Coins.
There have been many instances where some dishonest gambling sites accepting BNB had never stopped anyone from registering their accounts but eventually got them blocked when the account holders tried to withdraw their gains from the sites. The accounts were frozen and all the funds were confiscated.
Therefore, while choosing the best gambling sites, cryptocurrency traders should know the gambling sites they decide to accept from their country.
Reputation and Trust
The reputation of the gambling site is yet another significant consideration for choosing the best sites. Binance Coin transactions are recorded in the Binance network, free from any central authority interference by its inherent nature. The absence of any central authority backing in the Binance cryptocurrency exchange has its pros and cons. The lack of the central authority red tape ensures minimal fees, but on the other hand, many users are always at a risk of losing the refunds if the companies turn out to be dishonest. There is nothing that the players can do because all Binance coin transactions (like any other blockchain transactions) are irreversible. Therefore, players must choose the best reliable sites and have not faced any legitimacy issues in the past.
Payout and Withdraw Speeds & Terms
Most gambling sites are regulated under the Curacao Gaming Authority and thus are subject to fewer financial regulations due to their license. Therefore, a gambling site can offer fast withdrawals and immediate payments without any restrictions on the upper limits that customers can withdraw. The terms and conditions for the payouts are also lenient. However, there may be a wagering requirement imposed by some online casinos accepting Binance coins that require the players to wager some funds before withdrawing their winnings from the casino.
Binance coin transactions are secure because they are powered by the largest cryptocurrency exchange in the world- Binance. Thus if players land into any legit online casino accepting Binance Coins, they can rest assured that their funds are in safe hands. Hence, the security depends on the casino sites players have registered in. Binance is the largest crypto exchange globally that also supports a downloadable e-wallet that lets its users store their cryptocurrency into it. All Binance transactions are encrypted and 2FA protected, adding an extra security layer to the client’s data and funds.
Moreover, the fact of anonymity that is an inherent feature that all blockchain networks provide, keeps the transactions secret which in many ways benefits the players. Online casinos are prohibited in most of the countries of the world and so banks and other financial institutions can also cause trouble for individuals who are associated with any of these traditional online casino sites. But with BNB gambling, this is not a problem because all BNB transactions are anonymous and thus banks cannot track details of the players.
Bonuses & Rewards
Online casino sites that accept Binance Coins are always known for the lucrative bonuses, free spins, and rewards they offer to players. These bonuses and free spins are ways to attract new punters to the sites. Then there is a VIP program offered by many Binance casinos and plenty of jackpot offers that reward players with exciting cash bonuses.
Provably Fair Binance Coin Games
The mighty Binance exchange powers Binance Coin transactions. Therefore all the legit sites are expected to offer provably fair Binance coin games to play which include, Binance slots, Binance Roulette, Binance Blackjack, Binance table games, and Binance Dice. Then there is a separate DApp powered by the Binance exchange that offers plenty of provably fair games to play, including keno, Sick-Bo, Plinko, baccarat, lottery, crash, and casino poker. Gambling or crypto sports betting DApps are a fantastic choice for players who want more online privacy. At the same time, they play these provably fair games, streamlined payment options, and a tremendous blockchain and sports betting experience.
Cryptocurrency Compatibility as a BNB
BNB is a globally accepted cryptocurrency but is highly volatile, much like any other leading cryptocurrency. Binance Coin is compatible with any other top cryptocurrencies like Bitcoin, Bitcoin Cash (or bitcoin gold), or Ethereum and thus can be exchanged in an online casino that accepts BNB.
Important Tips and Tricks to Guide Users for Trying the Binance Coin Gambling Site
Most online casinos are switching to Binance coins from fiat currencies because they have thoroughly understood that fiat currencies are no longer the future of the casino industry. This is because inflation reduces the value of fiat currencies every day; players lose their purchasing power every time they start gambling with fiat currencies in any traditional casinos, but the value of the BNB rises despite its highly volatile nature. This BNB gambling guide discusses the steps to begin gambling or cryptocurrency sports betting with Binance coins in any BNB casino.
How to Register Online at the various Binance Coin Gambling Sites?
Here is a step-by-step guide on how to start gambling at the various gambling sites.
Step 1: Choose a legit site
There are plenty of Binance coin online casinos accepting Binance Coins from users and other leading cryptocurrencies for betting on the site and playing provably fair games at the casinos. Some casinos even allow players to keep the Binance Coins in their accounts instead of converting them into fiat currencies. But players should be very cautious when selecting any BNB live casino site to play their favorite games and check whether they had any legitimacy issues with their records. One trick to see whether the BNB live casino is legit is first to check out the countries where it is restricted, which means that the players from those countries would not be allowed to register at the casino. If players find that they can quickly create an account at the casino despite their country is on the restricted list, beware; this is a scam! Some fraudulent Binance casinos are doing this business. They are allowing customers to register even from restricted countries. As soon as the customer’s request a withdrawal, their accounts are blocked and all their winnings confiscated.
Step 2: Registration
After choosing any legit BNB casino site, it is time to create an account with the casino. For this, players need to visit the official website of their preferred casino and sign up with some personal details like email addresses and a valid phone number. Users must also create a unique password because this will be their login credentials to the casino henceforth. Alternatively, users can also use the Binance DApp, and play their favorite games in the casino anytime.
Step 3: Buy Binance Coin from any Crypto Exchange
Before players can start using their cryptocurrency funds at any Binance casino, they need first to trade to initiate the process. As soon as the registration process is complete, players buy Binance coins from the cryptocurrency exchange (Binance exchange) and use the coins to play their games at their chosen Binance online casino site. For this, players can use a debit or a credit card or straightway hit the Binance P2P exchange and trade with other users. It is free to use and allows users to access an ‘Express’ page to enter the amount they want to receive or pay without trading with other crypto traders. Besides being free to use, the other benefits of using the Binance Exchange are low transaction fees, which leaves the players with more cash (real money) to play their favorite live casino slots or other table games.
Step 4: Choose any Provably Fair Binance Coin Games to play
After depositing the required funds at any BNB online casino site, players can view the games library offered by the casino. They can choose any of the provably fair Binance Coin games to play at the casino. There are lucrative bonuses and free spins both for the new players and the existing ones, and players can avail of them after complying with the specific terms and conditions of the bonuses.
Step 5: Withdraw winnings
If the players are lucky, they can win the games at the casino. Still, before they register at any Binance coin online casinos, they should check whether the casino imposes any restrictions on withdrawals. The legit BNB online casinos do not generally charge any limits on the deposits or withdrawals, but there may be a strict wagering requirement attached to the winnings. Players should be aware of any wagering requirement because they will not be allowed to withdraw their winnings from the online casino without complying with these.
Withdrawing Funds from the BNB Gambling Sites
Withdrawing funds from legit sites is as easy as the deposits. The most legit and the best casinos accepting Binance Coin offer fast withdrawals so that players do not have to wait for long to receive their winnings at the casino. Before proceeding with the withdrawal request at the casino, players should be well aware of the payment options allowed on the casino. The BNB live casino token is one of the payment options apart from fiat currencies and other cryptocurrencies. Here is how players can initiate the withdrawal process at the various sites.
- Players need to Log in to their account and visit the Withdrawal page.
- A list of withdrawals (payment options) will appear on the Withdrawal page. The users can choose accordingly and select BNB or any other supported cryptocurrency as their payment options.
- Please enter the amount that they intend to withdraw.
- Enter their wallet address where the coins would be sent.
- Retrieve winnings within 24 hours of receiving them. The online casinos approve multiple payment options.
Uses of BNB in Gambling
- Binance Coin, the very own cryptocurrency of the Binance blockchain, was created as a utility token in 2017. However, the utility token began to be used in numerous applications like financial services, travel bookings, and entertainment (in online casinos). BNB in Gambling is used for the following purposes:
- The BNB live casino offers fast withdrawals, the anonymity of transactions, unlimited deposits, and withdrawals in the casinos.
- The BNB live casino offers an excellent alternative to fiat currencies.
Future of BNB Gambling
Binance Coin has emerged to be much more than just a utility token of the Binance blockchain; the utility token has gained wide popularity in BNB casinos and made online payments to any online stores. Furthermore, Binance VISA cards can be loaded instantly and used to transfer cryptocurrencies to other accounts within a few seconds. Thus, the BNB is seen by investors as a stable cryptocurrency and an excellent buy to make in the future.
What Kind of BNB Gambling Platforms Are There?
There are two main categories of Gambling platforms that accept the BNB tokens:
- Traditional gambling sites mainly accept fiat currencies or any other cryptocurrencies apart from the BNB. However, these conventional casinos do not allow Binance coins to remain in the players’ accounts; the BNB live casino tokens are immediately converted into fiat currencies when players deposit or request a withdrawal.
- Hybrids gambling sites or BNB-Only Operators are mainly end-to-end Binance Coin gambling sites that accept both Binance Coins and a wide variety of other cryptocurrencies. In these casinos, accounts can hold BNBs, and BNBs are not converted into fiat currencies.
Tips for gambling with Binance Coin
Here are some tips for choosing the best Binance Coin gambling sites:
- Players should register only to a reputed and legit site with a good number of decent players.
- Players should check whether the casino features their favorite live casino games and whether there is any wagering requirement attached with any games offered by the casino.
- It is not recommended to store all the winnings at the Binance casino site. Instead, it is better to set up an e-wallet to keep all the coins.
- Players should avail of the welcome bonus and deposit bonus offered by the casino to increase their bankroll.
- Players should check whether there is a responsive customer support team to help players at any time during the day.
Banks or other financial institutions do not support online casino sites irrespective of the jurisdictions under which the sites are registered. There are cases where banks have often turned down mortgage applications from individuals involved in gambling activities with any online casino companies. Here is how Binance Coin gambling sites save players from inconveniences caused by the banks if they know about the gambling activities practiced by the players. Online gambling keeps the gambling activities of the players anonymous without the banks knowing anything and thus not creating any troubles in getting loans approved. Therefore, BNB gambling is better than gambling in traditional casinos using fiat currencies.
Is online Binance Coin gambling legal?
Gambling sites that accept Binance Coin are generally legal, but that is not everything that matters; it is the casino operators and their jurisdiction that dictate whether the casinos are legal or not. Using BNB for gambling is legal, but the gambling sites that accept customers should also hold a proper license to operate as a casino provider to make the dealings legal.
Where can you gamble with Binance Coins?
Most exchanges do not allow their players to use their platforms for transferring funds to or from any sites that use BNB. In such cases, where players want to gamble in various gambling sites, the Binance exchange is the ultimate platform with excellent features like low fees, robust security, rapid withdrawals, more currency pair to trade on, etc.
How long do BNB deposits take?
The processing time for BNB deposits depends on various factors like the Binance Coin Network. It may take from a few minutes to an hour, depending on the network. The transactions are recorded on the Binance network only after they are confirmed by the miners, which may sometimes take a little longer because the blockchain might be overloaded. To avoid this delay due to network overload, it is required to pay a little more fee to the miners to confirm the transactions faster.
How long do BNB withdrawals take?
BNB withdrawals take approximately the same time as deposits and it depends on the respective gambling website. Some websites emphasize a long validation process which may take longer, while others complete the validation only in a few steps to ensure fast withdrawals.