Cryptocurrencies, often referred to as digital or virtual currencies, have become a global phenomenon in recent years. Powered by blockchain technology, cryptos like Bitcoin, Ethereum, and various altcoins offer decentralised, secure, and borderless financial transactions. Their rise to popularity stems from the fact that they provide a transparent and efficient alternative to traditional banking systems. This surge in global usage has made cryptocurrencies a preferred method for payments, investments, and even online transactions.
In India, the cryptocurrency wave has gained significant momentum, with around 115 million people in India now owning some form of cryptocurrency. This growing interest in digital currencies can be attributed to various factors, including the country’s tech-savvy population and a rapidly evolving digital infrastructure. Indians are using cryptos in a range of activities, from investing to making everyday payments, and one of the most popular ways people are spending time online is through gaming on casino platforms.
In recent years, online casino platforms in India have integrated cryptocurrency as a more secure and efficient payment method. This integration has significantly elevated the gaming experience for users, providing faster transactions, enhanced privacy, and better security.
Moreover, these platforms often offer various bonuses to attract players, with welcome bonuses being among the most popular incentives. But how can players find the best offers? One of the simplest ways to discover these promotions is by consulting reliable online casino review platforms that provide a list of welcome bonuses, helping users identify which casinos offer the most appealing rewards.
With this in mind also a lot of interest is focused on crypto casinos, but how common are they in India? In this article, we’ll explore the prevalence of crypto casinos in India and the factors driving their rise in popularity.
Regulatory Ambiguities and Opportunities
Cryptocurrency regulation in India is still evolving, with no specific laws yet governing Virtual Digital Assets (VDAs). Instead, the government has modernised existing policies to include financial technologies like cryptocurrencies. While there are sufficient regulations for Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance, clear legislation for cryptocurrencies is still lacking, leaving crypto businesses and users in a grey area.
In 2021, the Reserve Bank of India (RBI) updated its National Strategy on Blockchain to establish a national blockchain infrastructure, focusing on streamlining payments and settlements. As cryptocurrencies grow in popularity, many people still ask: Is crypto legal in India? While cryptocurrency use is not explicitly banned, the regulatory landscape remains unclear. Furthermore, the introduction of a 30% tax on crypto in India has added another layer of complexity for users.
As Bitcoin’s popularity continues to grow, many people are also asking, is Bitcoin legal in India? Though Bitcoin is not illegal, the lack of specific legislation keeps the legal status of Bitcoin in India ambiguous.
Similarly, when it comes to online gambling, laws in India are also complex. The Public Gambling Act of 1867 governs gambling but doesn’t specifically address online casinos, leading to uncertainty. Some states, like Maharashtra and Telangana, have banned online gambling, while Goa and Sikkim have legalised and regulated it. This state-by-state approach, combined with the absence of crypto-specific laws, allows offshore platforms to offer crypto casinos to Indian players, taking advantage of the legal grey area.
Popular Crypto Casinos in India
Several online casinos accepting cryptocurrency have gained significant traction in India, providing players with a wide range of gaming options. Here are some of the most popular crypto casinos that are frequented by Indian players:
9Winz Casino
9Winz is a fairly new online casino in India that has been making waves with players all over the country. There are plenty of features available, such as a welcome bonus for multiple deposits, ongoing promotions and a lot of tournaments that attract regular participation. The platform is built for the Indian market with a selection of traditional ‘desi’ games.
Moreover, players can pay with popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Tether. The app is not yet available, but 9Winz is still considered one of the platforms fighting for the title of the best casino in India.
Megapari Casino
Megapari offers a well-organized, user-friendly platform with a variety of gaming options, including sports betting, live games, esports, promotions, casino games, and bingo. The platform supports several cryptocurrency payment options such as Binance Coin and Dogecoin, providing players with flexibility and secure transactions. Additionally, Megapari has a dedicated best casino app, which enhances the user experience by allowing easy access to its gaming sections directly from mobile devices.
Lopebet Casino
LopeBet is famous for its interesting offers such as weekly promotions, up to 20% cashback and no deposit bonus. The casino accepts a few of the most popular crypto payment methods, such as Bitcoin Cash, Dogecoin, and Tether. It has a good range of payment options, though some players would like to see the minimum withdrawal amount lowered for easier access.
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