Crypto Currency

Cryptocurrency Casinos – The New Way to Gamble Online

Yes, the volatility levels displayed by cryptocurrencies in the past year have shown just how much of a risky proposition investing in digital money is and how swiftly the tide can change concerning crypto prices. Bitcoin, the world’s initial virtual cash form, went from over $60,000 per until to around $15,000 in a few months. That is a staggering drop, unseen in the fiat sphere. However, despite these dramatic movements in value, many still believe that cryptos are here to stay. Moreover, the gambling industry, often among the first in implementing the latest technological innovations, has adopted cryptocurrency casinos with arms wide open.

Payment method selection has long been a primary criterion for many when choosing a gambling site. Well, many gamblers are now moving to blockchain-based gaming for multiple reasons, the top being to attain a faster, safer, and more secretive means of gambling. Those driving factors have led crypto casinos to obtain a sizeable level of popularity and slowly start to compete with fiat-based platforms. Below is a short analysis of the top appealing aspects of these hubs. And a quick rundown of each, explaining why these websites are likely the future of this sector.

What Characterizes a Bitcoin Casino?

A Bitcoin casino is a phrase that many people use when describing any gambling site that allows cryptocurrencies for deposits and withdrawals. It is a term that refers to altcoin platforms, not only ones that permit Bitcoin. Without question, it dominates the crypto market, boasting a share of over 36%. And it is because of this that the masses use it to delineate any iteration of digital coins.

The standout features of crypto casino sites are many. Apart from their defining trait, cryptocurrency acceptance, they include: listing unique bonuses, aiming to build an on-site sense of community, having more games and gaming genres than regular online casinos, incorporating creative loyalty programs, and more. In short, they are far more diverse gambling platforms that seek to expand the concept of online casino gaming to new heights.  

Brisk Sign-Up

Here is the deal with Bitcoin casinos, they let users register in seconds when gamblers opt to log in using their social media credentials. Most crypto hubs these days allow players to create an account by giving the option they transfer over their Google, Facebook, Twitter, or Telegram information to their chosen operator. That lets them create a generic account with their social data in seconds. Naturally, users can later change the username and password of this automatically generated profile.

Those who do not want to fork over their social media credentials can go down the traditional registration route. That entails inputting only a username, password, and email address. In that scenario, they will probably get asked to open their email inbox and click on an account confirmation link to 100% activate their gaming profile. Though, that is not necessary at all sites.

Still, even in this instance, registration at a cryptocurrency casino should not take more than two minutes, and rarely will anyone get asked to enter identifying personal information on sign-up.

Rapid, Safe & Simple Coin Transfers

Bitcoin transactions get completed in a matter of minutes. Of course, network congestion plays a role in the speed with which these transfers go through. That said, their swiftness is incomparable to all fiat money transfer options. On the traditional currency side of things, e-wallets can process transactions in a few minutes. Yet, withdrawals through this method at online casinos usually take between twenty-four and forty-eight hours. On the other hand, credit/debit card transactions can take up to seven banking days to finish. That is often far more than any gambler is willing to wait.

While Bitcoin is faster than all fiat payment options, it is nowhere near the fastest crypto on the market. The Solana and Ripple blockchains can process coin allocation almost instantly. And it is vital to note that blockchain technology uses a ledger, transaction records that get shared between hundreds of users at once. That makes it impossible for someone to tamper with the books, so to speak, without other parties noticing that this has occurred. Hence, crypto casino transfers are not only swift. But they are super safe if one uses a reputable crypto wallet.

Novel Promo Offers

While regular online casinos emphasize deposit matches and free spins, cryptocurrency casinos found on hubs like focus on loyalty schemes, the systems that popularly get called VIP programs. Yes, fiat sites also have these, but they are not nearly as complex as the ones found at crypto casinos. Furthermore, they are not as generous also.

One thing that must get pointed out regarding crypto brands is their generosity. If one stumbles upon a hybrid platform. Meaning one that offers fiat and coin-based payment solutions will likely feature both fiat and crypto bonuses. As a rule of thumb, the latter will always be the more lucrative of the pair. That is so because of little or no government and financial institution oversight concerning virtual money.

Bitcoin casinos also like to supply reload matches and complimentary reel rotations of specific slots. So, they are not strangers to the industry’s tried and tested bonus offers. They mix things up by delivering chat rain, mystery chests, plenty of cashback, pick-em-game promotions, and lottery draws. Many also dive into offering their users investment opportunities by letting them stake their coins/tokens and permitting them to get a share from the casino’s profit pool.

Thrilling Game Catalogs

At the start of the cryptocurrency casino sphere, the only gaming products on hand at these websites were provably fair games that let gamblers manually check the randomness validity of their round outcomes. These options still get hosted by many crypto casino hubs. Nevertheless, once international regulators, like those from Curacao, began licensing and monitoring these platforms, modern slots, live tables, virtual video poker machines, lotto picks, RNG classics, and shooting titles made their way onto Bitcoin casino gambling lobbies.

Today, it is very common to sign-up with a site boasting a Curacao license with a robust gaming catalog listing over five thousand games, including provably fair ones like dice, Plinko, mines, crash, and limbo.

Global Availability & Secretive Gambling 

Despite Know Your Customer identity verification procedures gaining a massive foothold in the online gambling landscape, not all crypto casino websites implement them. Unlicensed provably fair hubs that provide simplistic gambling do not adhere to regulatory mandates, delivering a restriction-free experience. Plus, forging a good-faith-basis relationship with their clientele. Also, many Curacao-approved Bitcoin casinos, too have decided to forego the KYC process and supply anonymous gaming fun.

Most platforms that let their player bases enjoy themselves in secret, allowing people to gamble away from prying eyes, frequently permit game-of-chance enthusiasts from all corners of the globe to indulge in this pastime on their sites. They have no geo-restrictions in place and do not discriminate based on territory, regardless of what local laws say.

Christopher Stern

Christopher Stern is a Washington-based reporter. Chris spent many years covering tech policy as a business reporter for renowned publications. He has extensive experience covering Congress, the Federal Communications Commission, and the Federal Trade Commissions. He is a graduate of Middlebury College. Email:[email protected]

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