Withdrawing Winnings to a Digital Currency Wallet

There are a few different ways that gambling sites are going to look upon the deposits made into their respective sites using a cryptocurrency and also there will be a few different ways that they are going to pay you out your winnings too.

As such if you choose to gamble at any cryptocurrency gambling site that allows you to make a deposit in let’s say Bitcoin, and they have all of their games designed to use units of Bitcoin as the staking options on their games then if you win you are then going to get paid out your winnings in Bitcoin too.

However, some gambling sites will let you make a deposit into your account using a digital wallet but will use the current spot rate of the cryptocurrency you are using to convert them into the fiat currency in use on your account or at the respective gambling site.

If that is the case then when you come to make a withdrawal the gambling site will then covert the fiat currency back into your chosen cryptocurrency and will then send that amount back to your nominated digital wallet.

However, one thing that I have found out about many cryptocurrency accepting gambling sites is that they are going to pay you out your winnings back to your digital wallet instantly once you have put in a request for a payout.

They are able to do so as there are going to be no risks attached to your account, as you cannot ever charge back a deposit made using a cryptocurrency and digital wallet.

As such a gambling site should have no problems speeding up the rate at which they pay out their winning customers if those customers deposited using a cryptocurrency and wish to get paid out in the same cryptocurrency too.

In fact, due to there being no risk of cryptocurrency user being able to charge back their deposits, some gambling sites may not even require you to get your account with them verified, so you can gamble completely anonymously as such sites.

However, you are always going to be best advised to only ever gamble at a gambling site that is licensed and regulated somewhere, for that way you are going to negate the risk of the gambling site operators closing down their operation overnight and running off with your funds, which could happen if you gamble at a site that has no license in place what so ever!

You may also be able to request your winnings are paid out to you by another method other than back to a digital wallet, but do always keep in mind that when you do so there may be some nominal fees and charges to be paid, but they could be considerably cheaper than you having to use a digital currency exchange to turn your winnings back into your chosen fiat currency, so do keep that fact in mind when choosing how to get paid out your winnings!