Growing Popularity of Crypto Casinos

Jun 15, 2022
A. J. Riot

Cryptocurrencies are digital currencies that are used for the payment of services and goods. The high-end security, unique use cases, and complete non-censorship have made these virtual currencies widely adopted across several industries. As such, we can see their use in the entertainment industry, with people using crypto assets as the proof of ownership. In video gaming, people are using cryptos to earn daily rewards. The online casino industry is also not left too far back in this conversation.

The trend of using crypto tokens in online casinos has been rising for quite a while. Look at any list of bitcoin casinos, and it is noticeable how new names are getting added by the week. After all, the punters are on the lookout for such new real money casinos. But what exactly are online crypto casinos, and what makes them so popular in the world? Well, we have all the answers you need in this regard. So, read on and find out for yourself.

What Exactly are Online Crypto Casinos?

Online crypto casinos are virtual casinos that are made exclusively or entirely on crypto frameworks. When it comes to online casinos that are entirely founded on cryptocurrency networks, the platforms operate based on blockchain tech. It is a lot different from conventional online casinos that only accept cryptos such as altcoin and bitcoin as alternative payment modes.

Rather than funding a betting account to start playing real money casino games, crypto online casinos are accessible only by the ones holding the protocol access tokens. In terms of earnings, the gamblers will get to play different casino games and win amazing rewards called NFTs (non-fungible tokens). There are a host of factors that add to the popularity of crypto casinos, and here’s discussing the most important ones among them.

The Crypto World is Changing and Adapting

In the online casino industry, crypto gambling is gradually becoming more and more popular. Newer crypto casinos are getting established by the day which are letting users wager using cryptocurrencies. As the crypto casinos are also associated with high-end and reliable software providers, such as NextGen, NetEnt, and more, it comes as no surprise that the demand for crypto casinos is rising.

In fact, the day is not too far when crypto and online casinos become one and the same thing. More punters across the world now prefer a crypto casino over a standard online one. In fact, the demand is so high that many established online casinos have now started accepting crypto deposits and bets to make sure that they aren’t left behind. Check also casino game odds – which games to play and avoid.

Excellent Transaction Speed

Thanks to the use of cryptocurrencies, online casinos are able to process transactions a lot faster. The credit goes to the high speed that blockchain technology has. Conventional fiat currencies tend to take days, and even weeks, to process the transactions – both deposits and withdrawals.

It can be highly frustrating to a bettor, particularly when he is trying to make the most of a bonus or a special offer. On the other hand, the use of cryptos is quick. Bettors will not have to wait for days for successful transaction processing. They just need to purchase bitcoin or any such crypto of their choice from the exchange and transfer the required funds to the crypto casinos. It’s really that simple.

Lower Charges and Fees

While using conventional financial institutes for casino transactions, there are some additional transaction fees and charges incurred. Such fees can be tremendously high at times, depending on two things:

  • The bank used to make the transfer;
  • The country from which the transfer is being made.

It is not uncommon to see punters stop gambling altogether because the additional charges are too much to take. But such transaction charges and fees are surprisingly low in the case of crypto gambling. Unlike conventional banks that need to pay taxes, which explains the high charges and fees, bettors are basically paying miners with their cryptocurrencies. This explains why crypto transactions are always charging lower than conventional financial institutions. Learn also some facts about Las Vegas, Nevada.

Enjoying Casino Games Anonymously

Another reason why bettors like going to a crypto casino is that they can stay anonymous while they enjoy their preferred casino games. Most casinos now have strict policies regarding knowing the customers, and crypto casinos are no different. But at least the financial records of the punters remain safe and anonymous.

So, crypto is the chosen path when a punter does not want anyone to know the source of the deposit or prefers when nobody knows about their financial history. When deposits to a casino account are made from crypto wallets, the only record that remains is the number of tokens sent and that’s it.

The Security Factor Involved in Crypto Transactions

Regardless of how transparent crypto casinos are, they are highly secure and safe. The blockchain tech used by a majority of crypto casinos makes sure that no third-party sources can steal and abuse user data. The SSL and end-to-end encryption of crypto gambling websites also make the hackers stay away from the system.

The right combination of the two systems gets the user data translated into codes that can’t be broken by even the finest systems. So, unless the third party has the key, they do not have ways to access the data. Thus, the functioning and funds of the crypto casinos are safe and secure, which gives everyone a good time when gambling.

Lesser Rules and Restrictions

The rules and restrictions are an important issue faced by many punters while enjoying all the thrills and fun of online casinos. There are countries that have laws to restrict the international financial activities of their citizens. But, with crypto casinos, the bettors can gamble from any part of the world. In fact, this is one of the main reasons why a majority of punters sign up from an online crypto casino. Now, unlike conventional online casinos that rely on fiat currencies, the restrictions are a lot less in the case of cryptocurrencies.

As some of the cryptos aren’t centralized, the governments of the countries have little to zero influence over how the digital currencies are used. It means that when a country does not permit a punter to use a certain payment method for gambling because of one law or another, they can always access cryptocurrencies to enjoy their favourite casino games – such as dice crypto casino.

The Bottom Line

One thing is for sure – the era of crypto casinos is here and it’s going to stay. It is not a passing trend just as cryptos are not just another fad. So, if you are yet to try your hand at crypto casinos, now is the time. Those who have cryptocurrency and play it in online casinos join free crypto signal groups, where they constantly receive information about different cryptocurrencies so as not to lose their vigilance.