Best Synthetix Casinos – Crypto Casinos with Synthetix (SNX)
Like most of its counterparts, Synthetix is a cryptocurrency built up on top of Ethereum’s blockchain, and it has its own token (SNX). Because of this, the decentralized finance (DeFi) project and protocol may appear more frequently at ETH casinos than you might imagine. Is it a good cryptocurrency to use at top crypto casinos, though? Join us as we explain what you can expect at Synthetix casinos here today.
We’ll begin by introducing you to a handful of trusted SNX casinos right here. These include:
Best Synthetix Casinos
What is Synthetix?
Synthetix Network (SNX)
Synthetix began life as Havven (HAV) when it first appeared on a white paper. When it underwent a brand name change is unclear, but today, Synthetix gets its name from its role as a decentralized synthetic asset platform. It is built on top of Ethereum’s blockchain and uses SNX (Synthetix Network Tokens) as its cryptocurrency. Those tokens act as collateral in smart contracts, while Oracle technology tracks the value and price movements through those smart contracts.
Synthetix isn’t limited to one type of asset. It permits the trading of synthetics (or synths), decentralized assets, cryptocurrencies, FIAT currencies, and commodities. That’s great if you’re a regular user of Synthetix, but not necessarily a selling point for crypto casinos.
What Are Synthetix Casinos?
Synthetix Casinos are in short supply and include each and every cryptocurrency casino where the Ethereum-based SNX token can be used to deposit. However, we should stress that this token cannot be used to wager on games in most cases. Therefore, don’t be surprised to see casino bonuses and/or wagering done in other cryptocurrencies. How? Most SNX casinos will convert your deposit. Whether they convert it back to SNX for withdrawals is up for debate and depends on where you play.
Playable Synthetix Casino Games
Synthetix has an SNX token that can be used to deposit (and, in some cases, withdraw). However, we haven’t seen instances yet where SNX can be used to wager on games. The main reason for this is that SNX is mainly used as collateral, not an actual currency. This isn’t going to be music to the ears of some crypto gamblers, but that’s the reality of this situation.
The Advantages of Playing with Synthetix at Crypto Casinos
There are a few perks to making use of Synthetix at online casinos, and these include the following:
Oracle-Tracked Price Movements
Synthetix uses Oracle tech, and it makes use of this to track the price movements of smart contracts. In fact, we’d argue that Synthetix could be at the forefront of this when it comes to DeFi. However, it may be too early to stand by that.
Easy to Use
Because SNX is built on top of Ethereum’s blockchain, you shouldn’t have much trouble familiarising yourself with it. If you’ve used any ETH-based crypto before, you’ll know what to expect here.
The Disadvantages of Playing with Synthetix at Crypto Casinos
If you’re looking for drawbacks, we only found two, and they include:
An Experimental, Developmental Cryptocurrency
At present, Synthetix is still under development and is very much an experimental cryptocurrency. Therefore, there are some aspects that SNX should be capable of but that just aren’t up and running yet.
SNX Is Similar to Other ETH-Based Tokens
While Synthetix can be a comfort to some users because it is based on the Ethereum blockchain they know and trust, that can also be a drawback. It may not quite differentiate itself enough to give you a reason to switch from, say, Ethereum or another ETH-based token to Synthetix.
How to Choose the Best Synthetix Casino
You’re going to find it challenging to find SNX casinos. Here is what you need to know:
- There are precious few SNX casinos active right now.
- Those that do accept Synthetix deposits can be found on this page.
- Read our reviews to understand what each SNX casino offers and how it works.
- Be ready to see your SNX deposit converted for gameplay purposes.
- SNX bonuses are rare, so don’t expect them to be present at all casino sites.
Featured Synthetix Crypto Casinos
While limited in number, the following crypto casinos do accept deposits made using SNX:
BC.Game
Start Playing at Synthetix Casinos Today
To begin betting with Synthetix at crypto casinos today, you’ll need to acquire SNX. Here’s how you can do that:
- First, you’ll need an account at an exchange. We recommend Kraken for purchasing SNX.
- Verify your exchange account (which will come with an SNX-friendly wallet).
- Either use your credit card or another cryptocurrency as your payment method.
- Purchase SNX from the exchange and ensure that it lands in your wallet.
- Armed with SNX in your wallet, head to a casino and deposit as usual with other cryptocurrencies.
Conclusion
Synthetix is an interesting option if you want collateral-issued coins, but it isn’t quite ready to take the casino world by storm. There are many other Ethereum blockchain-based altcoins that are far more convenient for gambling.
Synthetix FAQs
Do all crypto casinos accept Synthetix?
You’re going to have a hard time finding games that permit SNX wagers.
Can I play live dealer games with Synthetix?
We’d say no. We didn’t find any live dealer games accepting SNX stakes.
Can I claim SNX online casino bonuses?
Again, we’d say no. At least, we didn’t see any, and we did an in-depth check.
Is it safe to wager with Synthetix?
Security doesn’t seem to be an issue with Synthetix. We’d say that this is a safe option.
Are SNX deposits free from fees?
There are fees associated with SNX, but they are small, at just 0.3% of the transaction cost.