Solana Casinos 2022

Vienne-GarciaVienne Garcia
5 min read
Solana Facts
Solana-logo
Company: Solana Labs & Solana Foundation
Founded in:2019
Headquarters:San Francisco, USA
CEO: Anatoly Yakovenko
Website:solana.com
Available in:100+ countries
Available in Canada: since 2021
E-Mail:[email protected]
Phone:1-628-629-3265
Best Solana Casino:Cloudbet Casino
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Solana has been quietly taking the crypto world by storm in the last couple of years. Some are even calling it the Ethereum killer. In this article, we will tell you all about Solana, or SOL, how it compares to other cryptocurrencies, as well as how to use it at online casinos.

We’ll start with a bit of history and you’ll see why Solana is so special. Back in 2017, Anatoly Yakovenko, who was a Qualcomm developer at the time, released the white paper for “Proof of History” (PoH), a new technique for timekeeping on distributed systems. The idea was that PoH can automate transaction ordering processes in blockchain, so that it can scale far beyond Ethereum and Bitcoin, which were held back by the time required on this precise process.

Bitcoin and Ethereum technology can handle 15 transactions per second (TPS); with PoH, transaction speeds could reach 65,000 TPS, on par with Visa.

Anatoly quickly built up a team of other Qualcomm vets like Greg Fritzgerald and Stephen Akridge, along with some Apple engineers. They initially called themselves Loom, but since Ethereum was launching another project with the same name, they decided to re-brand themselves under the name of Solana, after the surf town where they lived for a few years. In 2020, the Solana beta went live.

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In December 2021, Solana got some media attention, when Melania Trump announced that she would sell NFTs on the Solana platform. This was her own choice though, as the Solana Foundation made clear in a press release that they had nothing to do with the initiative.

thumb up iconOther than its speed, Solana is known for its low network fees, aka gas fees. The coin has really taken off since and sits now comfortably within the top 10 currencies in the market today. It’s one of the main reasons why SOL is being picked up in the casino industry. At the moment, the Solana uptake is limited to the crypto casino scene. No traditional online casino is taking SOL for now, even though some have added the capacity to accept BTC and ETH as a payment method. Read on to see how to start gambling with Solana.

Contents

The Best Solana Casinos 2022

For now, Solana is still not as popular as other major coins like BTC and ETH, so there aren’t too many crypto casinos that accept Solana for banking purposes. However, three established sites, BC.Game, Cloudbet and Rollbit, have already added SOL as a payment method and if the trend continues, we see more will be coming soon. In the meantime, check out these Solana casino pioneers:

eCOGRAGLIiTech LabsMalta Gaming AuthoritySSL Secured
1.
cloudbet-cryptos-only95% Excellent5 BTC / $1,000 + 200 Free Spinsvisit Cloudbet CasinoRead Review
2.
Rollbit-onlycrypto-logo93% OutstandingChallenges & Bonus Battlesvisit RollbitRead Review
3.
BCGame-Logo93% Outstandingno limitvisit BC.Game CasinoRead Review
4.
Duelbits-logo-cryptos92% OutstandingVIP programvisit DuelbitsRead Review
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How Solana Works in Online Casinos

Using Solana at online casinos is the same as with any other cryptocurrency, which isn’t so different from using dollars. The main difference is that you need to have some SOL in your crypto wallet, like:

If you don’t have a wallet set up, many crypto casinos have added a third party gateway called Moonpay through which you can buy Solana or another coin with a credit or debit card, or Apple Pay. But we do recommend getting a crypto wallet if you plan to get into crypto gambling on a more regular basis.

Casino Deposit with Solana

To make a casino deposit with Solana, follow these simple steps:

  1. Sign in to the crypto casino – or sign up if you don’t have an account.
  2. Once logged in, go to the Cashier, then to Deposit.
  3. Check SOL is available as a payment method and then select it.
  4. Enter the amount you want to deposit.
  5. A QR code will appear. Open your crypto wallet app and scan the code – this is much more reliable than typing in the address manually.
  6. Confirm payment.

info iconThe credit should show up in your casino balance in a few seconds – or even less. Solana is famous for being one of the fastest blockchains, which is why it’s so popular.

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Cashing out with Solana

Cashing out with Solana is essentially the same process as the deposit. The main difference is that you select Withdrawal on Step 2 in the above instructions instead of Deposit. It’s really as simple as that! And the best part is that you enjoy Solana’s superb speed on cash out, which means the money will be on your end in the blink of an eye.

Solana low costLimits and Fees

When it comes to banking, the minimum and maximum amounts always depend on the crypto casino you are playing at.

Generally speaking, the limits are much more flexible than traditional online casinos, which is why many high rollers have switched over.

While most casino operators don’t charge fees, crypto wallets do on each transaction.

The good news is that Solana has one of the cheapest transaction fees, averaging at just $0.00025 per transaction. That’s like as close to nothing as you can get.

Advantages & Disadvantages of Solana in Online Casinos

  1. What are the advantages of Solana as a casino payment method?
  2. What are the disadvantages of Solana casinos?

What are the advantages of Solana as a casino payment method?

Many players are switching over to cryptocurrencies like Solana for their casino play. Because crypto is decentralized it means that there are no banks involved and you can do transactions in much higher amounts.

checked iconCompared with other cryptocurrencies, Solana comes with two added advantages: superior speed and very low transaction costs, the so-called “gas fees” on the blockchain network. This gives casino players a lot more flexibility in terms of how often they want to deposit and withdraw.

To sum it up, the key advantages of Solana in casinos are:

  • Very low to negligible network fees
  • High transaction speed with up to theoretical 65,000 transactions per second
  • High level of security with 31 network confirmations
  • SOL can still be purchased at a very affordable price

idea iconSolana is known for its fast blockchain. Until Spring 2022 when it was overtaken by Bitgert, the Solana blockchain was the fastest in the world. Still, as the second fastest, Solana has attracted a lot of developers and investors to the platform, making it one of the fastest growing ecosystems in the world of crypto. The zero gas fees have also meant that it was quickly adopted by users, and SOL has been poised to be the coin that makes cryptocurrency the new norm.


Video: “Learn more about Solana and see what makes it great”

Play with SOL at Rollbit

What are the disadvantages of Solana casinos?

Solana casinos offer all the benefits of the SOL currency, along with the pleasure of top crypto games. If you are wondering whether there are any downsides to making SOL your coin for play, then the main disadvantage is that there are few casinos that accept this coin for now. However, with the Solana ecosystem growing so rapidly – some are even saying it’s better than ETH and might be the Ethereum killer thanks to its higher speed and lower cost, we do expect to see more Solana casinos popping up in the future.

smileyOn the other hand, on the technical front, Solana has been criticised for being relatively less de-centralized than other cryptocurrencies. SOL has 70% fewer nodes than ETH, which makes the network much faster, which means it’s more vulnerable to attacks.

Summarising the disadvantages to Solana:

  • Few Solana casinos – for now
  • Solana is relatively centralized
  • Centralization makes it more vulnerable to attacks
  • Solana hardware is costlier, potentially slowing down its uptake

arrowGenerally speaking, except for the first point, these issues don’t really affect casino players. Every coin has its own weaknesses, but the outlook on Solana is over all positive with strong interest from the investor community. Solana has the third largest futures market, and its NFT marketplace, Solanart, is gaining solid market share.

Tips & Tricks for Paying with Solana (Sol)

If you are new to cryptocurrencies, Solana is a fine place to get started. For casino players looking to check out the crypto gaming scene, it’s very easy. Pop by one of the crypto casinos listed on this page, like Cloudbet, buy some Solana through the Moonpay gateway, and feel the difference in crypto casinos for yourself. With crazier games and in-game chat features, we’re pretty sure you will find that it’s an awesome experience that’s even more exciting than regular online casinos.

walletOnce you’ve got your feet wet, we do highly suggest getting a crypto wallet. This will make purchasing SOL and other coins much easier. You’ll have more control and can buy in or sell whenever you see a good price. And do download the crypto wallet app so you can just scan the QR code when depositing or withdrawing. It eliminates possibilities for human error and is much safer and more convenient than typing in long addresses.

Because Solana has lower network fees and superior speed, there’s no pressure to group your transactions into a big chunk. Bank whenever and as much as you wish and use the flexibility to take advantage of the fluctuations in the SOL market price. Solana is a great cryptocurrency for those who want to keep a closer eye on their budget.


secure iconFinally, we advise casino players to set up 2FA, that’s 2 Factor Authentication. It never hurts to have extra security on your assets, whether it’s Solana, Ethereum, Bitcoin, or just plain old dollars.


Solana FAQs

Solana has grown rapidly in the first year of its launch. Like 400% growth. It’s now one of the biggest coins in the world relative market cap. It’s therefore smart to get to know this new coin better, so we put some answers to commonly asked questions about Solana here for you.

  1. Is there a fee for making a Solana deposit?
  2. Why are Solana fees so cheap?
  3. Is there a Solana bonus?
  4. Should I buy Solana to play casino games?
  5. What Solana alternatives are there for online casinos?

1.) Is there a fee for making a Solana deposit?

Most casinos will not charge a fee for deposits, but crypto wallets do charge fees for transactions. The difference between Solana and Ethereum or Bitcoin is this fee is much lower. It’s so cheap that it’s practically free.

coins iconTo give you an idea, Solana has on average a $0.00025 per transaction, while Ethereun is between $3 to $10. So yes, there is a fee for SOL deposits, but the fee is so miniscule that it’s basically free.

Back to FAQ

2.) Why are Solana fees so cheap?

Crypto transaction fees depend on two factors. The first is the time required to generate new blocks. The second is how many transactions each block can handle.


thumb up iconCompared to Ethereum and many other coins, Solana’s block time is fast, and block capacity is high. That makes it more efficient and so SOL fees end up being lower.


Back to FAQ

3.) Is there a Solana bonus?

You won’t get a bonus specifically for using Solana, but BC.Game and Cloudbet offer welcome bonuses that will give you a top up when you make your first deposit. It can be in SOL, Bitcoin, ETH, LTC and several other top cryptocurrencies. Some crypto casinos are also known for coin drops too.

cloudbet-guide-bonus-1024x508With the Cloubet Bonus offer, you can get 500 SOLMoreLess

Back to FAQ

4.) Should I buy Solana to play casino games?

If you’re looking to get into crypto, it’s a good idea to hold several different coins to diversify your assets. Solana is a pretty good bet in this regard. On the other hand, if you just want a coin to play at crypto casinos, we’ll be honest. There are better choices.

Because Solana is only accepted at a few sites for now, you’ll be better off going with something like Litecoin, which is more widely accepted and also pretty affordable. Of course, as we’ve already mentioned a couple of times, we do expect more casinos accepting SOL, but for now it’s still pretty limited.

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5.) What Solana alternatives are there for online casinos?

Crypto casinos are increasingly accepting more coins for banking purposes. Other than Solana, popular cryptocurrencies that you can use for gambling include:

The crypto scene is of course developing very fast. So while Solana and Tron are a bit of an outlier in the casino industry still, we do expect that for sites will start accepting these coins as they gain mainstream popularity.

Back to FAQ

The Expert Conclusion on Solana at Online Casinos

Solana has really taken off since it was launched in 2020. Sure, it’s still a bit of a novelty in the casino world and there aren’t too many sites that accept it for now, but given how SOL has been growing so quickly, we’re pretty sure you’ll soon be able to use the coin at more crypto casinos. And really, with three great crypto casinos to choose from at the time of writing, it’s really not so shabby either.

arrowAnd what’s so great about Solana? Compared to other cryptos out there, the transaction fees are so low that it’s essentially free. This is a big deal because high network fees have been holding crypto back from taking off as a common payment method.

If you have a crypto wallet, it might be good to keep this coin handy. For those of you who don’t, just go to one of the casinos listed on this page and buy some Solana directly to start playing to get a taste of what this crypto gambling thing is all about.

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Author: Vienne Garcia
Last Update:
Article reviewed: Solana
Author Rating: 91%