USDC Casinos

Gamble crypto with price stability

Few stablecoins are as trusted as Coinbase's "USD Coin" (USDC) cryptocurrency. Each token is backed 1-to-1 by a dollar reserve, ensuring that your tokens can be redeemed at any point for real cash. Start playing at casinos with USDC by reading the guide on this page!

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Due to the high volatility of bitcoin and other cryptocurrencies, there are more and more players who want a more stable digital asset they can use in casinos. The USDC is among the new crop of stablecoins that are gaining adoption in the industry as it promises to solve this very problem.

How well does USDC measure up against other stablecoins? What benefits might you enjoy from using it? And how do you get started on a USDC casino?

To answer these and other related questions, our review takes an in-depth look at the workings of USDC casinos. Read on to find out everything you need to know about them and make an informed choice on whether or not to join the hype.

To sign up on a USDC casino, follow the simple steps below.

How to sign-up to a USDC casino

How to sign-up to a USDC casino
  1. Choose a casino

    There are plenty of casinos that support the use of USDC. Some of the options you can choose from include:

    • Fortunejack
    • mBit
    • BetChain
    • 1xBit
    • Betflip
    • Playbetr
    • KawBet

    You might want to find out a little about these casinos so as to make the most suitable choice. Once you do, go to its official website and follow the outlined steps to create an account.

  2. Buy and deposit USDC

    Buy USDC on your preferred cryptocurrency exchange then go to the Deposit section of your casino account to make a USDC deposit.

  3. Claim your bonus

    Claim your signup bonus. Depending on how generous the casino is, there is usually a wide range of bonuses for first-time players.

  4. Begin wagering USDC

    After claiming your bonus, you are ready to start wagering with USDC.

Newly Added USDC Casinos

We are constantly looking out for new casinos which have introduced USDC as a banking option. Thanks to the increasing popularity of stablecoins and cryptocurrencies more broadly, there are new betting sites coming online every week. The following list of casinos is updated regularly and each site provides support for USDC. Looking for somewhere to bet USDC? You’re found the right place!

USDC Casino Date Added Rating Review
Golden Crown 14 Feb 2020 78 Read More
Trust Dice 14 Oct 2019 78 Read More
Winz.io 16 Apr 2020 78 Read More
KawBet 27 Feb 2020 68 Read More
mBit Casino 02 Jun 2017 95 Read More

Top 10 USDC Casinos

Disclosure
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TheBitcoinStrip.com thoroughly reviews the casinos listed on this website as a means to provide accurate and valuable information to its readers. To continue providing free access to the public, this website accepts commission payments from some of the casino operators shown below. However, we do not accept direct payments for casino ratings.

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USDC For Beginners

USDC, short for US Dollar Coin, is a fairly recent addition to the stablecoin family. Launched in 2018, it was created under a joint move by Circle and Coinbase.

Circle is a cryptocurrency finance company whose headquarters are in Boston. It has been in existence since 2013 and has the backing of top-notch firms such as Goldman Sachs. On the other hand, Coinbase is one of the largest and most popular crypto exchanges based in the US.

Following its launch in September 2018, the stablecoin got off to a great start. By December of the same year, it was the #5 cryptocurrency by market capitalization. Given that it is neither the first stablecoin nor the most popular one, what makes it special?

Take a look at two of its unique features to fully understand why it’s a special stablecoin.

  • Fully Audited – Grant Thornton, one of the world’s top 10 accounting companies, regularly audits the USDC. The purpose of this regular auditing is to confirm that it actually has sufficient US dollars in reserve as collateral for the coins in circulation.
  • RegulatedCoinbase, one of the stablecoin’s parent companies, is registered as a Money Service Business in the US. As such, the currency falls under the oversight of the Financial Crimes Enforcement Network (FinCEN), which is a top-tier government agency.

Like a good number of cryptocurrencies, USDC is created on the basis of the Ethereum network’s ERC-20 protocol. However, unlike most other cryptocurrencies, it is not mined. Essentially, it is a representation of one unit of the US dollar on the Ethereum blockchain.

Similar to other stablecoins, the USDC is a tokenized version of the US dollar. In order to make this possible, the creators back up every unit in existence with one US dollar. The process of tokenization takes three steps:

  1. A USDC buyer sends US dollars to the bank account of the token issuer.
  2. The token issuer creates a corresponding number of USDCs using the stablecoin’s smart contract.
  3. The buyer gets USDC tokens and the equivalent amount of US dollars goes into the creator’s reserve.

Though it has only been in existence for a couple of years, the USDC project has already accomplished amazing milestones. For instance, since its inception, it has managed to bring on board upwards of 60 partners.

How does USDC compare to other stablecoins?

Take a look below at the simplified comparison table of the most popular stablecoins. You can find all the available stablecoin casinos here.

Censorship ResistanceTransaction FeesPeg Effectiveness
US Dollar Coin (USDC)Not resistant to censorshipNo fees for inbound transactions, Gas fees for outbound transactions, no fees for bank wiresHighly effectiveSecond most widely adopted after tether
Tether (USDT)Not resistant to censorshipNo fee for Tether deposits and withdrawals, 0.1% for fiat withdrawals and depositsFrequently deviatesMost widely adopted
Paxos Standard Token (PAX )Not resistant to censorship0.1% fees for all deposits and withdrawalsHighly effectiveThird most widely adopted
Dai (DAI)Resistant to censorshipETH Gas fees for all transactionsMost effectiveLeast widely adopted

USDC Casino Bonuses

Casinos serve up a variety of bonuses and promotions to draw new clients and keep existing ones. Take a look at some of the typical bonuses you can expect to get at a USDC casino.

USDC Casino Rating Bonus Claim Now
mBit Casino 95 5 BTC + 300 Free Spins Play Now
BetChain 94 150% Up To 1BTC + 200 Free Spins Play Now
1xBit Casino 93 Welcome Package Up to 7BTC Play Now
BC Game 85 1 Free Spin to Win Up To 1 BTC Play Now
DuckDice 83 Free Play With DuckDice’s Bitcoin Faucet Play Now

Other Types of Bonuses

No Deposit Bonus

As far as introductory offers go, this has got to be one of the most alluring. As the name suggests, you get this bonus without having to deposit anything at all. Rather, all you have to do is register an account. While you cannot withdraw the bonus money, it allows you to gamble free of charge. It provides a worthwhile opportunity to get a taste of what the casino has to offer without committing any funds.

Free Spins

These are among the most common promotional offers at online casinos. They go by different names on different platforms. Some examples include extra spins, bonus spins and cash spins. In some cases, they have wagering requirements, necessitating you to play a certain number of times before making a withdrawal. Always take a moment to read through the applicable terms such as cashout limits and qualifying games.

Welcome Bonus

Like free spins, the welcome bonus is available on almost every online casino. Typically, this bonus requires you to create an account and make an initial deposit. Some extend the offer to the first four deposits, providing a varying reward with each deposit. You might get a welcome bonus of 100% or even 200%, but before you get excited, check the wagering requirement and maximum cashout.

Weekly/ Monthly Deposit Bonus

For regular punters, you can also enjoy periodic promotions that take place on a weekly or monthly basis. Some casinos have one to mark the beginning of the week, usher in the weekend or break the mid-week monotony. Others offer a bonus to end the month or start a new one.

Free Play Bonus

Not as common as the others above, the free play bonus is often a reward for a player’s loyalty. You will typically get a lump sum of cash to play with within a given timeframe. In order to protect their interests, most casinos will stipulate high wagering requirements. But it still creates a great opportunity to try your hand at a variety of games and even win some cash.

What are the benefits of using USDC for betting?

Pros

Stability

Price volatility is the primary drawback of using cryptocurrencies for wagering. Most cryptocurrencies are so volatile that their prices change on a second-by-second basis. It is not uncommon for users to complain of having made a deposit and having their funds slashed after a few minutes.

As a stablecoin, the USDC maintains a stable price in relation to the US dollar at all times.

Trust

The USDC is a creation of two reputable players in the crypto industry, Coinbase and Circle. As one of the top crypto exchanges globally, Coinbase enjoys a massive following all over the world. During its years of existence, it has created a remarkable measure of trustworthiness. Circle is also a well-known entity that has the backing of Wall Street’s crème de la crème.

The trust that these two entities enjoy trickles down to the USDC. Furthermore, it operates under regulatory oversight and this further instills confidence in its users.

Cons

Not Censorship Resistant

One of the top downsides of the USDC is the fact that it operates on a centralized model. Therefore, project creators hold a significant level of control over the coin. For instance, they have the right to freeze user funds and blacklist wallet addresses if they suspect that one is using USDC for illicit activities.

However, this aspect is not unique to the USDC, as most other stablecoins have similar clauses too. The only exception is DAI.

Despite having a major weakness, it is clear that USDC has remarkable benefits as well. Many users have confidence in the operational excellence of its parent companies. While the dominant stablecoin USDT has never proven its collateralization claims, there is no doubt about it when it comes to USDC.

Not surprisingly, it has gained massive traction as the second most widely used stablecoin with fiat collateralization.

FAQ

💲  How do stablecoins like the USDC work?

Stablecoins strive to minimize fluctuations in price. While different types use different methods to achieve this, the basic concept is the same. Issuers essentially ensure that the value remains constant by holding collateral in reserve for every unit they give out.

💲  Where can I buy USDC?

You can buy the stablecoin on top cryptocurrency exchanges including:

  • Coinbase
  • Binance
  • Poloniex
  • Uniswap

💲  Where should I store my USDC?

Since the USDC is an ERC-20 protocol token, you can store it in any Ethereum wallet. Some of the popular options include MyEtherWallet, Jaxx and MetaMask wallets. For cold storage, the Ledger Nano S and Trezor are the perfect solution.

💲  How can I confirm whether there are sufficient USDC reserves to match my holdings?

You can check the issuer’s attestation reports on the Circle website to confirm.

💲  Is Tether better than USDC for betting?

Both are stablecoins and they serve similar functions. Tether has an advantage in the sense that it is more widely adopted in casinos than USDC.

Published by Nica SJ

Nica SJ

About the author

Nica is an expert cryptocurrency and fintech writer who has worked with several venture-backed tech startups in the US and UK as well as investment companies in London. She currently enjoys researching about bitcoin exchanges and casinos.

Last updated by Nick Hawke on May 13, 2020

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About the editor

Nick is the CEO and founder of The Bitcoin Strip and has reviewed and written about Bitcoin casinos, sportsbooks and poker rooms for 9 years. He first entered the Bitcoin gambling market in 2011 following a widespread closure of poker rooms in the US.
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