Bitcoin popularized cryptocurrency, while Ethereum introduced new features that refined the entire field. As the crypto industry evolved over the years, it became a popular addition to the world of online gambling, allowing players to use digital currency to play slots, poker, and blackjack.
With the number of Cardano casinos constantly growing, we wanted to do a thorough analysis of this cryptocurrency. So, if you want to learn more about ADA and how to make deposits and withdrawals with this payment option, you are in the right place.
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Cardano was created by Charles Hoskinson, a man with extensive experience in the cryptocurrency realm. One of the co-founders of Ethereum, he partnered with a team of mathematicians, analysts, and other experts, to establish the new cryptocurrency in 2015. They describe their creation as a third-generation blockchain platform aiming to overcome obstacles in the modern crypto market.
Hoskinson and Jeremy Wood founded Input Output Hong Kong (IOHK), focusing on the development and refinement of Cardano.
Named after the Italian mathematician Gerolamo Cardano, the new currency made its debut in 2017, using an entirely new network of chains. Relying on the Ouroboros PoS protocol, Cardano introduced a unique blockchain architecture. It consists of two elements, the Computational Layer (CCL) and the Settlement Layer (CSL). The main advantage of Cardano is that users don’t have to worry about slow transactions, network congestion, and high fees.
Like other cryptocurrencies, Cardano is available everywhere, with no limits or regulatory restrictions.
The only restriction you may encounter is a small number of casinos that support this payment option. We believe the situation will change, but for the time being, you can only rely on a few Cardano online casinos.
Many of these venues can be accessed without any restrictions. Cardano is available in some of the biggest markets in the world, including the US, Canada, Finland, Sweden, Australia, New Zealand, South Africa, and Brazil.
To use Cardano, you first need a place to store your cryptocurrency. Fortunately, you will have lots of options to choose from. You can go for a hot wallet, which is connected to the internet, allowing you to access it any time you want, provided you have the right key. The second option is the cold wallet, which works offline.
Regardless of your choice, you must set up the wallet first. Complete the installation, and wait for the wallet to synchronise to the cryptocurrency network. Once the wallet is up and running, use the Receive button to get your unique address.
The next step is to purchase Cardano. You cannot use any fiat currency, so we recommend buying Bitcoin, Ethereum, or stablecoins first and then exchanging them for Cardano. Buying Cardano at popular exchanges like Binance, eToro, and Bittrex shouldn’t be a problem.
It is time to open an account at the desired exchange. After that, choose Cardano and enter the amount you wish to buy. Complete the transaction by hitting the Buy button. As blockchain transactions are not reversible, make sure to enter the correct wallet address.
How to Deposit with Cardano?
After safely storing your Cardano coins in the wallet, visit a supporting online casino and open a new account (if you don’t have any). Visit the Cashier page, and choose this digital currency as your preferred deposit method.
Copy the casino’s unique address, and paste it into your wallet. Enter the amount you want to transfer, confirm the payment, and start playing live casino games.
How to Withdraw with Cardano?
The cashing out process works virtually the same, albeit in reverse order. First, go to your Cardano wallet, and copy your unique address. Visit the casino’s Cashier page, choose Cardano as your withdrawal method, and paste your wallet address. Choose the sum you want to cash out and confirm the transaction.
Transfer Times, Fees, and Security
Crypto transactions are much faster compared to traditional payment methods, as there are no banks involved in the process. Typically, deposits made with Cardano should appear in your balance within 10 minutes.
The same goes for cashing out. Once the transaction is confirmed, the funds will be automatically sent to your wallet.
Depositing and withdrawing with Cardano incurs no additional fees, which is excellent news for players who choose this option.
The system comes with a distinctive fee structure, including certain fees when transferring this cryptocurrency. It includes a fixed charge of 0.155381 ADA, and an additional 0.000043946 ADA for every byte of the transaction.
Cardano was made in a programming language called Haskell, whose features enable the use of various means for ensuring the code is correct. The digital wallet also makes the most of Ouroboros, a blockchain protocol utilizing proof of stake. It provides additional security guarantees, further boosting the performance of the entire network.
Additionally, every crypto wallet features protection protocols of its own.
Deposit and withdrawal limits depend on your online casino’s policy. The best way to learn more about this aspect is to get in touch with the customer support team. They will gladly answer all of your questions and provide specific details on the topic.
You can fill in the contact form on the official Cardano website, and a customer support agent will get in touch with you as soon as possible. You can also join the Cardano community on Facebook, Twitter, Telegram, YoutTube, official forum, blog and Reddit page.
The company’s Technical Support page represents an FAQ section where you can get plenty of additional information. While you’re at it, you can always use the live chat feature.