Crypto Gambling Glossary
34 terms defined. From provably fair to cold storage, learn the vocabulary of crypto gambling.
A
All-In Insurance
An optional GGPoker feature allowing players to insure all-in bets for a small fee, reducing variance in high-stakes situations. Controversial, some see it as fundamental change to poker's risk/reward structure.
Altcoin
Any cryptocurrency other than Bitcoin. Includes Ethereum, Solana, Litecoin, Dogecoin, and thousands of others. BC.Game supports 150+ altcoins, the most full selection for crypto gambling.
B
BCD (BC Dollar)
BC.Game's internal bonus currency. Players earn BCD through deposits and promotions. BCD is gradually converted to real crypto during gameplay in proportion to wagered amounts, functioning similarly to a rakeback system.
C
Cold Storage
Cryptocurrency stored in offline hardware wallets completely disconnected from the internet. Used by exchanges (Kraken keeps 95% in cold storage) and individual investors via Ledger or Trezor devices to prevent hacking.
CSOP (Crypto Series of Online Poker)
CoinPoker's flagship tournament series, analogous to the World Series of Poker but exclusively for cryptocurrency. Regular series feature guarantees of $100K+ with buy-ins from $1 to $5,200.
Curacao eGaming License
The most common gambling license used by offshore crypto casinos. Issued by the Curacao Gaming Authority (CGA), it allows operators to serve international players. The CGA reformed its licensing framework in 2023 for stricter oversight.
D
Decentralized RNG
A Random Number Generator using blockchain cryptography (like KECCAK-256 used by CoinPoker) rather than centralized server-side algorithms. Allows full public verification of randomness without relying on trusting the operator.
DeFi (Decentralized Finance)
Financial services (lending, trading, staking, yield farming) built on blockchain without traditional intermediaries. MetaMask and Trust Wallet are primary access points. BC.Game supports multiple DeFi-integrated networks.
F
Fiat On-Ramp
Services converting traditional currency (USD, EUR, GBP) to cryptocurrency. Roobet, Sportsbet.io, and Cloudbet offer fiat on-ramps allowing players to buy crypto directly on-site via Visa, Mastercard, or bank transfer.
G
Gas Fees
Transaction fees paid to Ethereum network validators to process transactions. Fees fluctuate based on network congestion. Using Layer-2 networks (Polygon, Arbitrum) or alternative chains (SOL, BNB) dramatically reduces gas costs.
H
Hash
A cryptographic function converting any input into a fixed-length output. SHA-256 produces Bitcoin addresses; KECCAK-256 powers Ethereum. Used in provably fair games to create verifiable, tamper-proof game outcomes.
Hash Rate
The computational power dedicated to mining a cryptocurrency's blockchain. Higher hash rate = more secure network. Bitcoin's hash rate has reached record levels in 2026.
Hot Wallet
A software crypto wallet connected to the internet, such as MetaMask or Trust Wallet. More convenient for frequent transactions but more vulnerable to hacking than cold storage hardware wallets.
House Edge
The mathematical advantage a casino has over players, expressed as a percentage. Blackjack: ~0.5%. Slots: 2-10%. Roulette: 2.7-5.26%. Stake Originals like Dice: 1%. Lower house edge = better odds for players.
K
KYC (Know Your Customer)
Identity verification process required by regulated exchanges and some casinos. Typically requires government ID, selfie, and proof of address. Many crypto-first platforms like BC.Game offer 'no-KYC' play for smaller amounts.
L
Layer-2 (L2)
Blockchain scaling solutions built on top of Layer-1 chains (like Ethereum) to enable faster, cheaper transactions. Examples: Polygon, Arbitrum, Optimism, Ethereum's own Layer-2 scaling. Important for reducing gas fees in crypto gambling.
Lightning Network
Bitcoin's Layer-2 payment network enabling instant, near-zero-fee BTC transactions by processing payments off-chain and settling periodically on the Bitcoin blockchain. Growing adoption in crypto gambling for instant deposits/withdrawals.
Liquidity
In crypto exchanges, the volume of buy and sell orders available at various prices. High liquidity means orders can be filled quickly without large price impact. Binance and Bybit offer the deepest liquidity globally.
M
Maker/Taker Fees
Exchange trading fee structure. Maker fees apply when you add liquidity (limit orders). Taker fees apply when you remove liquidity (market orders). Makers typically pay lower fees. OKX charges 0.08% maker and 0.10% taker.
N
NFT (Non-Fungible Token)
Unique digital assets stored on a blockchain, provably owned via wallet. In gambling, NFTs are used for VIP membership passes (Lucky Block), unique game items, and collectible rewards. Wild.io integrates NFT gameplay.
P
Perpetual Futures
Crypto derivatives contracts with no expiry date that allow traders to speculate on price without owning the underlying asset. Widely offered by Bybit and OKX. Funding rates keep perpetual prices aligned with spot.
Proof of Reserves
An exchange audit method proving all customer deposits are backed 1:1 by real funds. Kraken pioneered this in 2014. Major exchanges now publish regular Proof of Reserves reports to prove solvency.
Provably Fair
A cryptographic method allowing players to independently verify that casino game outcomes are random and unmanipulated. Uses server seeds, client seeds, and hashing algorithms (typically SHA-256 or KECCAK-256). Players can verify results after each bet.
R
Rakeback
A percentage of rake (the casino/poker room's commission) returned to players as a loyalty reward. CoinPoker offers 33% flat rakeback. SWC Poker offers up to 50% via the Krill system. Higher is better for regular players.
Responsible Gambling
Measures to promote healthy gambling behaviors including deposit limits, self-exclusion tools, reality checks, and session limits. UK-licensed operators are required to provide these tools; Curacao-licensed casinos vary in their provision.
S
SAFU (Secure Asset Fund for Users)
Binance's emergency insurance fund holding $1B+ to compensate users in the event of a security breach. Used during the 2019 Binance hack to cover $40M in losses. Now standard practice for major exchanges.
Secure Element (SE) Chip
A tamper-resistant hardware security chip used in hardware wallets to store private keys in an isolated environment. Ledger uses CC EAL6+ certified SE chips. Trezor's 2026 models include the auditable Tropic01 SE.
Seed Phrase (Recovery Phrase)
A 12 or 24-word sequence that is the master backup for a crypto wallet. Anyone with your seed phrase can access all your funds. Must be stored offline in a secure location, never shared or stored digitally.
Self-Custody
Storing cryptocurrency in a wallet where only you hold the private keys, not an exchange or third party. Hardware wallets (Ledger, Trezor) and software wallets (MetaMask, Exodus) enable self-custody. 'Not your keys, not your coins.'
Shamir Backup
An advanced wallet recovery method by Trezor that splits the seed phrase into multiple shares (e.g., 3-of-5). A threshold number of shares is needed to recover the wallet, providing better security than single-phrase backup.
Stablecoin
Cryptocurrencies pegged to a stable asset, typically the US dollar. USDT (Tether) and USDC (Circle) are the most widely accepted stablecoins in crypto gambling, eliminating price volatility risk while enabling crypto payments.
Stake Originals
Exclusive casino games developed by Stake.com including Crash, Mines, Plinko, Dice, Keno, Limbo, and Dragon Tower. Provably fair with transparent house edges ranging from 1-3.96%.
V
VPN (Virtual Private Network)
Software routing internet traffic through servers in other countries to bypass geo-restrictions. Most crypto casinos prohibit VPN use in their terms of service. FortuneJack is a notable exception that explicitly allows VPN access.
W
Wagering Requirement
The number of times you must wager a bonus before withdrawing winnings. A 40x wagering requirement on a $100 bonus means betting $4,000 total. Industry standard is 30x-40x; lower is better for players.