Best CasinoCoin Casinos – How and Where To Use CSC in 2023
CasinoCoin (CSC) is a unique cryptocurrency platform aimed at being a universal coin for casino players, including those registered at licensed and regulated operators in all jurisdictions. Read on for the best CasinoCoin casinos and more!
- Best Crypto Casinos
- What Is CasinoCoin?
- Future of CasinoCoin: Roadmap for 2023
- CasinoCoin KYC and AML Procedures
- How CasinoCoin is Used
- Where To Buy CasinoCoin
- CasinoCoin's Benefits for Players
- Casino Coin Benefits for Operators
- Potential Disadvantages or Pitfalls
- Alternatives to CasinoCoin
- CasinoCoin Casinos – Summary
- CasinoCoin Casinos FAQs
Best Crypto Casinos
While CasinoCoin is still in its infancy with limited take-up, many of the best online casinos accept plenty of other cryptocurrencies! Check out our top recommendations listed below:
What Is CasinoCoin?
Named the “blockchain for gaming”, CasinoCoin is a new form of digital currency that aims to facilitate the unique needs of the regulated gaming industry.
CasinoCoin is not only a form of currency that can be bought, sold, and used by casino players, but is also a revolution in safety and transparency in an industry wrought with unlicensed operators.
The currency's built-in responsible gaming and regulatory features promise to provide unparalleled benefits to players, operators, and regulatory bodies.
How Does CasinoCoin Work?
Let's say you wish to play at several different online casinos – for example, you'd like to play slots at one casino, poker at another, and roulette at another.
For each, you would have to sign up and make a deposit to get started.
But what if you want to use your winnings from one casino to wager at another?
To do this, you would have to complete the required verification process, wait for your withdrawal to arrive at your bank account or e-wallet, and maybe even lose some funds to banking fees.
That is where CasinoCoin would come in. As a more or less stable crypto on the XRP ledger, you could easily transfer funds between the casino, your wallet and another casino, all while eliminating fees and drastically reducing transfer times.
If things work out the way CasinoCoin hopes, you might find the CasinoCoin payment method at licensed casinos in various jurisdictions (often ones that bar other cryptos). Casino players would be able to use their CasinoCoin wallet for casino deposits, withdrawals, and maybe even for signing up at a casino site.
CasinoCoin’s Integration With XRP ledger
While CasinoCoin was originally created on a fork in the XRP ledger in 2017, in 2020, Eminence, the Casino Coin (CSC) team, decided to go back to the initial version of the XRP ledger protocol.
This was supported by XRPL Labs, with the team believing that the XRP Ledger, with its fast transactions, was the best option for gambling and betting purposes.
CasinoCoin started trading in 2017, reaching an all-time high of $0.535761 on Dec 16, 2017; its lowest price was $0.000051896948 on Jan 26, 2021.
It currently has a trading volume of $98,422.06. While the price has seen a steep drop, we should keep in mind the currency was never to be thought of as an investment, but as a currency for casino gaming.
Future of CasinoCoin: Roadmap for 2023
While CasinoCoin is still actively lobbying for licensing and regulation, they are also trying to convince casino operators to adopt their payment method. According to a recent tweet, they have plenty of plans for this year. Let us see what they mean by each point.
✅More Casino Partners
✅More Exchange Listings
✅Isle of Man TT Games
✅CasinoCoin Lobby Pass
✅XUMM SSO Integration
✅XRPL Deposit Pathfinding
— CasinoCoin (@CasinoCoin) April 14, 2022
CasinoCoin KYC and AML Procedures
CasinoCoin was designed with gaming regulations in mind, implementing the latest Anti-Money Laundering and Know Your Customer technology.
KYC capabilities have been built into the CasinoCoin Bankroll Manager, enabling quick user registration, fool-proof transparency and a simplified on-boarding process.
The KYC process should be very simple. A user submits their documentation for verification, and upon successful validation of these documents, can then begin to make deposits.
According to the CasinoCoin team (operating in CasinoCoin casinos), the operators will no longer have to perform their own KYC manually, with the Bankroll Manager containing all the required information to fully verify users before they can go ahead and gamble.
The advantage here for casino operators is that the AML and KYC procedures have already been done via the CasinoCoin wallet.
That way, the casino no longer needs to verify the player’s identity, age, proof of address, proof of ownership of payment method, and so on, saving the casino time and money.
For players, this means that they no longer have to go through time-consuming procedures at different casinos.
How CasinoCoin is Used
Here is how you would use CasinoCoin if everything goes as planned.
- Step 1: Download the XummWallet of CasinoCoin Lobby xApp.
- Step 2: Verify your identity and complete any other KYC requirements.
- Step 3: Buy CSC with fiat or other cryptos.
- Step 4: Sign up at a partnered online casino (no need to create an extra account).
- Step 5: Deposit CSC and start playing!
- Step 6: Withdraw winnings to your CSC wallet.
- Step 7: Play at other CasinoCoin casinos or exchange your CSC for CasinoCoin Tangem Cards (which would work like a credit card), other cryptos or cash.
Where To Buy CasinoCoin
While you previously could buy CasinoCoin at several smaller exchanges, the CSC team have recently announced that CSC is available on CoinsPaid. At the same time, while launching the CasinoCoin Lobby xApp, they recommend the XummWallet for storage.
CasinoCoin recommends XummWallet, which is a way to ‘store’ (access), send and receive on the XRP Ledger. This allows you to interact with the XRP ledger, as well as third-party tools. You can exchange XRP and buy different cryptos.
Already integrated with multiple online casinos, CoinsPaidis one of the most recognised wallets and exchanges available.
CasinoCoin Lobby xApp
While still yet to launch, the CSC team is already testing a beta version of their casino app, which would allow players to sign up, deposit and play at partnered sites.
CasinoCoin's Benefits for Players
CasinoCoin (operating in CasinoCoin casinos) has obvious potential benefits, both for players and operators. Let’s look at what they would be for players first.
- Only one wallet for all casinos
As a player, you would only need only need one wallet to store all of your casino or betting related funds.
- Safe storage of funds
Thanks to the XRP ledger, your funds will always be safe.
- Fast and easy withdrawals
Withdrawals will take a matter of seconds, and you can be sure that they will be ultra-fast.
- No fees
Fees will be charged for players for withdrawals!
- No KYC Process
No more uploading your documents and patiently waiting for the casino to verify them. Since you are already verified on the CasinoCoin Lobby Xapp, no need for an extra KYC process.
- No sign-up needed
The Xapp would even allow you to sign in and sign up, which would save even more time when visiting a new casino site for the first time.
Casino Coin Benefits for Operators
CasinoCoin (operating in CasinoCoin Casinos) markets itself primarily to operators for now. Though they could also focus more on the player’s side of the coin. Let’s look at the advantages it promises for operators.
- Low transaction fees
While casino players do not enjoy transfer fees, neither do operators.
- Large player pool
With integration in the CasinoCoin Lobby xApp, casinos can have access to a larger player pool, as they would be available directly on the app.
- No chargebacks
Chargebacks are a major headache for casino operators – these would be completely eliminated by CasinoCoin.
- Safeguarded transactions via the blockchain
Thanks to the XRP blockchain, operators can easily check to see where their transactions have gone in real time.
Potential Disadvantages or Pitfalls
While CasinoCoin casinos has plenty of potential, it still needs to ensure several things before it can become a mainstream payment method.
Alternatives to CasinoCoin
As CasinoCoin casinos are a rather unique concept, we don’t know of any similar cryptos that are currently widely accepted.
Most cryptos prize anonymity (or pseudonymity) as a selling point, which makes it hard for licensing bodies to accept them. Currently, players can choose between crypto casinos, often licensed in Curaçao, or fiat casinos, licensed in Curaçao, Malta, UK, Gibraltar, Isle of Man or various other European countries.
CasinoCoin Casinos – Summary
The CasinoCoin team is ambitious, that much is certain. Whether we will see CasinoCoin casinos in the coming years, on the other hand, is not clear.
So far, no major casino brands have announced a partnership, with the CasinoCoin team still awaiting approval from the Isle of Man or other regulatory bodies, which have traditionally been reluctant to accept cryptocurrencies for gambling use.
Finally, it remains to be seen whether the average casino player has a genuine interest in the CasinoCoin Lobby xApp. If these three conditions can be fulfilled, you might soon see CasinoCoin at a casino near you. Check back here for more updates!
CasinoCoin Casinos FAQs
You can buy CasinoCoin at CoinsPaid or via the XummWallet, as well as plenty of other exchanges.
CasinoCoin is still actively seeking regulation, first in the Isle of Man, where it is based, and if it obtains that, probably in other jurisdictions as well.
So far, no casinos accept it yet, though CasinoCoin is actively seeking more partners at the time of writing.
Currently, a CasinoCoin is worth around $0.00109579 (as of 20/04/2022).
CasinoCoin in its current form was relaunched by the Isle of Man based company Eminence in 2020.