—TechRound does not promote or endorse any financial investments or practices and all information is purely informational—
Online gambling has been surging ever since this industry got its footing in 1996. However, no one could see the appearance of digital money coming and the corresponding rise of Bitcoin casinos. It all started in 2011 with crypto dice sites. Yet, over the past few years, it appears as the whole interactive gaming sector has gone full crypto, entirely embracing this trending payment method. It now acts as one of this sphere’s chief drivers, morphing it in previously unimaginable ways.
The appeal of cryptocurrencies lies in letting tech-savvy individuals manage their finances without them paying unnecessary fees and no bank interference. Not only that, but cryptos also allow coin holders to have the right to vote on policies regarding the rules that bound the digital ledger that their money lives on, where it shifts ownership from one user to another. Hence, cryptocurrencies are slowly becoming the favoured transaction option for Millennials, and the offer of gambling sites that use them today is vast.
Below, a quick guide follows crypto casinos and how these platforms are changing the practice of playing games of chance online.
Bitcoin Casinos Defined
In the past, a Bitcoin casino used to be an interactive gaming hub that supplied one or a few provably fair games, pretty much zero bonuses, and a free faucet that let users test out the featured products. Currently, they are identical to regular online casinos, hosting game libraries that differ in no way from those that casual players have gotten used to seeing at popular branded sites.
Nowadays, the only difference between gaming platforms that accept cryptocurrencies, and those that are strictly fiat, is their banking page. That said, an ever-growing chunk of all online casinos is switching over to now featuring digital coins as a viable payment solution, blurring the lines between these two platform categories.
Fast Registration
Unlike most popular online casinos that advertise themselves in various media outlets to the general public, the process of getting started gambling using cryptos is far swifter, as all that it entails is:
- Picking a reliable cryptocurrency casino
- Clicking the register now/sign-up button
- Enter a user name and password
- Clicking a confirmation link
- Sending coins to a casino’s crypto wallet address
That is pretty much it. Parties interested in testing their luck on traditional and novel gaming products only have to abide by the steps laid out above to see if good fortune is on their side.
Crypto Casinos Facilitate Quick Transactions
Everyone with a fleeting interest in gambling over the internet knows that banking methods can make or break the gaming experience. Wire transfer may be the safest payment option, but it can incur a processing wait time of over five working days. Even though e-wallets get touted as super quick, at some sites, players may have to wait up to forty-eight hours for their deposit to go through.
Conversely, many digital coins facilitate near-instant transactions. Even those that don’t still move around virtual cash in a matter of minutes, at the most. For example, a BTC payment at a Bitcoin casino should take ten minutes to complete, forty at most, depending on network congestion. For Ethereum, often, twenty confirmations get required. That necessitates a wait time of around five minutes.
It is vital to know that all cryptocurrency transactions are final. If a user enters the wrong wallet address, there is no way to redeem misplaced funds. It is also worth noting that thousands of users host a coin’s digital ledger, which uses advanced cryptographic technology, which makes hacking it more or less impossible.
Cryptocurrency Casinos and Unique Bonuses
A gambling site has no obligation to feature bonuses for new and existing members. Nevertheless, many have no option when it comes to this department if they want to survive in the competitive online gambling landscape. Moreover, due to many crypto casinos operating under a license from a Curacao-based regulator, or one from another smaller country, which also has laxer overseeing criteria, they have permission to supply super generous promos.
In most cases, dual-money hubs, or ones that list fiat and crypto payment methods, will have specific bonuses for users of either side of the fence. More often than not, the amount of free-play cash one can get through crypto offers will supersede the sum available in a fiat currency.
Cryptocurrency casinos also sometimes provide uniquely crypto bonuses, such as chat rain or token-staking options. Of course, these are on top of classic promotions such as deposit matches, point-collecting schemes, and cashback.
What Games to Expect
In short, all of them. There is no distinction regarding the gaming products one can expect to find at a Bitcoin casino. As mentioned, provably fair options that allowed gamblers to check the fairness of game results before were the only picks at platforms accepting Bitcoin and established altcoins. That is a thing of yonder now, as, over the past couple of years, hundreds of sites have popped up featuring gaming catalogues that rival even the most robust fiat online casinos.
So, playing jackpot slots, live dealer titles, and lottery-style options with digital coins is an option now. Nonetheless, those into super niche coins and rudimentary gameplay can still seek out provably fair sites that offer only choices like Plinko, crash, hi-lo, dice, or creative, proprietary games.
Global Acceptance and Anonymity
Not everyone from everywhere can gamble at any site they desire. That is due to operators having to abide by their licensor’s regulations and those in foreign lands. Hence, many renowned interactive gaming hubs shy away from accepting players from regions that have laws that somehow prohibit gaming. That is generally not so when a crypto casino is in question. Many platforms that fall under the cryptocurrency classification let gamblers from all corners of the globe join their ranks. If they facilitate digital money transactions only, that means they entirely exist online and do not have to adhere to any financial institutions or foreign laws.
However, to add a sense of legitimacy to their service, some crypto operators choose to follow Know Your Client procedures. These involve players supplying documentation that verifies their identity. Though, many are free to determine the scope of these processes and do so in a way that they are usually far less complex than the ones at fiat gambling sites that must report to government entities that regulate finances. Therefore, playing at a Bitcoin casino is far less cumbersome from a procedural perspective.
—TechRound does not promote or endorse any financial investments or practices and all information is purely informational—
