Monero Accepted UK Online Casinos
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see all UKGC licenced casinosMonero Online Casinos UK Overview
Monero (XMR), utilising the CryptoNote protocol outlined in Nicolas van Saberhagen's 2013 white paper, ensures transaction anonymity in casinos through its blockchain technology by hiding the history of transactions.
Type of Payment | Cryptocurrency |
Founded | 2014 |
Headquarters | Singapore |
Number of Employees | 50+ |
Available In | Worldwide, the UK included |
Monero Transactions Are Almost Untraceable - Is That Good News?
Monero prioritises privacy, decentralisation, and censorship resistance, ensuring strong security for UK mobile casinos.
Players can transact money using its opaque network, hiding the sum transferred and the originator's address from regulators and cyber criminals.
The cryptocurrency guarantees superior anonymity via functionalities such as Stealth Addresses, Ring Signatures, and RingCT, to name a few.
Privacy proponents in the UK and around the world highlight valid arguments for choosing anonymity over transparency.
However, as a casino player, it's important that you also weigh the opposing views.
The anonymity offered by Monero has attracted regulatory attention. These issues prompted Binance, a leading cryptocurrency exchange, to delist Monero and other privacy-centric coins in several European nations, citing regulatory obstacles.
Caution: You May Not Be Able To Use Monero At Certain UK Casinos
I strongly advise converting Monero to more widely accepted cryptocurrencies such as Bitcoin before making a deposit, as numerous esteemed UK casinos do not accept it.
Monero Fees - How Much Do You Have to Pay Per Transaction?
Monero's transaction costs are calculated by network traffic and the data volume of the transaction rather than the transaction value.
I discovered that Monero charges approximately £0.19 per kB, which I think is reasonable in comparison to Bitcoin's £21.22 and Ethereum's £2.30 per kB.
Nevertheless, Monero's advanced privacy functionalities, requiring substantial energy for intricate calculations, frequently lead to increased transaction sizes, resulting in higher fees in absolute money amounts.
How Are the Fees Calculated?
Sending 10 XMR in one transaction incurs lower fees than splitting it into ten separate 1 XMR transactions. Visit Monero's user manual to learn more.
How do you deposit and withdraw Monero at Online Casinos?
To deposit at a UK online casino that accepts Monero, follow a few simple steps:
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Register for a Crypto Exchange - Similar to a stock exchange, you can buy Monero using fiat money (like pounds or euros). You will need to furnish some personal information and ID for KYC verification.
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Get a Monero Wallet - This wallet serves as a secure digital space for storing your XMR coins. It's designed to enable seamless transactions. To find the ideal wallet, visit the Downloads page.
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Move XMR to Your Wallet - Every digital wallet is identified by a unique address, a combination of letters and numbers. Use this address to transfer XMR into your wallet.
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Fund Your Casino Account with XMR - Navigate to the casino's payment section, select Monero/XMR, and follow the steps to move XMR from your wallet to your casino account.
If you win at a game, you can shift your winnings in XMR back to your electronic wallet through the payment section on the gaming website. It's as simple as that!
Can You Get Your Money Back?
Bear in mind that once a Monero transaction is finalised, the only way to reclaim your funds is by appealing to the casino operator to return them to you.
It Must Be a Super-Secure Coin?
Monero has quite a few robust security features in place, and the Ring Signature encryption is the most sophisticated of them all. This technique amalgamates multiple user signatures, effectively masking the identity of the actual transaction initiator.
Other technologies the cryptocurrency uses include:
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RingCT - This feature obscures the amount involved in transactions.
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Stealth Addresses - These addresses make it challenging for outsiders to trace connections between senders, recipients, and transaction sums.
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Transactions through Tor/I2P - Utilises the Tor anonymity network for secure retrieval of transaction data by your wallet.
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Dandelion++ - An advanced protocol that thwarts linking an IP address to the transaction sender.
Remember,
For further details about its security capabilities, visit the XMR Mining Page.
What Are the Reasons for Regulatory Concern Over Monero?
Monero's robust privacy capabilities have prompted regulators to call for legislative oversight.
Are Monero UK Casinos a Safe Choice?
In my opinion, Monero's outstanding privacy attributes are overshadowed by its limited accessibility and regulatory hurdles, rendering it a precarious option for online casinos.
For a secure gaming experience, I recommend choosing Ethereum casinos in the UK as an alternative.