In many ways, crypto casinos work just like regular online casinos. The big difference is the currency you deposit and withdraw.
Have you never heard of crypto casinos before? Or do you simply need to refresh your memory? Luckily, we have put together an easy-to-read guide for beginners that includes everything you need to know about the crypto casino phenomenon. Pleasurable reading!
What are Crypto Casinos?
Gambling at crypto casinos can sound a little intimidating at first. But it is actually no more advanced than gambling with GBP. Although there are still mainly regular currency-based online casinos, the demand for gambling with cryptocurrencies has increased.
Therefore, today you can find trusted and licensed casinos that offer deposits and withdrawals with cryptocurrencies such as Bitcoin, Ethereum and Litecoin.
If you are familiar with the world of cryptocurrencies already, you probably know how it all works. However, if you are new to this and feel that casino games with cryptocurrencies sound exciting, you should not hesitate. You will generally find the same types of games at crypto casinos as at regular online casinos. You can find everything from modern online slots to traditional table games like craps. The range of games is generous and you will not have to miss anything just because you choose to gamble at a crypto casino.
However, as previously mentioned, more operators are focusing on transactions with traditional currencies rather than cryptocurrencies, which means, of course, that you might miss out on some games. However, the big crypto casinos cover most of it.
Watch out for illegitimate websites
Unfortunately, there are lots of scammers in the gambling industry and not the least within the crypto world. Therefore, you need to research an operator carefully before you start gambling on their website. Or you can save time by choosing an operator from https://safecryptocasinos.com/, which has a wide collection of safe crypto casino operators.
Advantages of Crypto Casinos
Since online casinos have to comply with tons of regulations and restrictions, payment processes have become much more complicated. This is one of the biggest advantages of cryptocurrencies such as Bitcoin.
In short, cryptocurrencies serve as an alternative way to process payments for casinos, without the restrictions that apply to traditional currencies. But that is not the only advantage of cryptocurrencies and their groundbreaking blockchain technology. Here are some others:
It is decentralised
One of the biggest advantages of crypto casinos is that they use decentralised cryptocurrencies. This means that they have no connection at all to a specific government, bank or another financial institute, giving you full control over your money. They cannot be blocked, and your account cannot be frozen. Not only that, when you gamble at a crypto casino, you can make transactions with cryptocurrencies without anyone being able to track that it is you.
The transaction fees are low or non-existing
All businesses need to make money, and one way to do so is by adding fees to transactions. In online casino terms, this means that every time a gambler makes a deposit or withdrawal, he or she pays a certain fee. Traditional payment methods usually have significantly higher fees than transactions made on the blockchain, which in turn means you get to keep a larger portion of your profits.
You can be (almost) anonymous
Something that has been contributing to the popularity of cryptocurrencies is the fact that all transactions are conducted anonymously, although this is not 100% true.
All transactions are done with pseudonyms, which means that other people cannot trace the transaction back to you through the name that is registered. This in turn means that your personal information is hidden throughout the transaction.
Yes, the transaction is still visible to everyone, but only the amount and the crypto address. However, some crypto casinos even allow completely anonymous accounts, which means you can play your favourite games without disclosing any personal information at all!
Cryptocurrencies are global currencies
The beauty of cryptocurrencies is, once again, that they are not linked to a specific country or bank. In this way, cryptocurrencies like Bitcoin and Litecoin are transformed into a global currency. With that said, no matter where the player is from, he or she can use the cryptocurrency and they all get the same fees and terms. A more transparent currency, quite simply.