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We all love crypto casinos. We love the games, the unique atmosphere and, of course, winning big Bitcoin payouts. Right now is the best time to get into the world of crypto gaming, with so many amazing casinos flooding the market.
But, have you ever wondered what makes these casinos different from traditional ones, and should you even give crypto gambling a chance? Today, we will look at the pros and cons of playing at crypto casinos, what kind of games you can expect there, and, additionally, what makes them so exciting in the first place.
Before we proceed to talk about the ups and downs of gambling with crypto, let’s see what makes these casinos unique in the first place. The most significant difference stems from the available currencies, hence the “crypto” in the crypto casino name.
Traditional online casinos only operate with fiat currencies – the dollar, euro, pound sterling, etc. When players want to load up their accounts, they need to use their debit cards, bank accounts, or electronic wallet services like PayPal and paysafecard. The same goes for withdrawals, with the caveat that you can usually only withdraw to the same account you used for depositing, so you better make up your mind on your preferred banking option during the registration process. The common denominator here is a third-party service between the casino and the players. What’s more, fiat withdrawals tend to take quite a bit of time.
As their name suggests, crypto casinos accept cryptocurrencies as their primary payment method. A player just needs to link their crypto wallet to make a payment, so banking is more straightforward and universal in this case. Naturally, with so many different cryptos going around, casinos have to limit themselves to a handful of the most popular currencies, so you’ll usually see casinos accept Bitcoin, Ether, Litecoin, Ripple, and maybe Dogecoin. You can easily exchange your coins to another cryptocurrency that the casino accepts and start playing.
Another big difference is the inclusion of blockchain technology in crypto casinos. Instead of using a random number generator, an algorithm, or whatnot, the casinos rather have pre-programmed payout rates that are transparent. Everyone can check the blockchain for all the records, including payout amounts. Since data in the blockchain cannot be manipulated, the casinos cannot change payout rates and rig the game, making things more consistent and fair.
Now that we’ve gone through the main differences between crypto and regular online casinos, let’s move on to why you should be playing in a Bitcoin casino in the first place.
We have already discussed this in the previous section, so we’ll go over some details here. The house edge varies between casinos; what makes crypto casinos fair is the blockchain technology running their transactions and RNG. Not only are transactions more transparent, but the immutability of the blockchain stops any interference with the RNG algorithm.
Since you’re using your crypto coins to play, you want them to be secure against hackers and fraudsters. Luckily, no third party is involved with the blockchain, so you will have proof that you reloaded your account using your crypto wallet. You’ll also stay anonymous while playing at a crypto casino. Remember, each bank and debit card transaction will show on your bank statement, so if you’re feeling uncomfortable having such data on your record, you want to play with crypto, instead.
All crypto transactions happen in the blink of an eye. That goes for both deposits and withdrawals. With banks, you usually have to wait up to a whole week to receive your casino winnings, which is not a good outlook at all. On the other hand, once you request a payout in a cryptocurrency, it may take just a few moments before the coins reach your crypto wallet. You can also exchange your cryptocurrencies quicker, if needed, and there are no processing fees for deposits or cashouts.
Looking at where the world of crypto is headed, it’s clear that the next big step for crypto casinos is the metaverse. Players will join in for the games and bonuses, yes, but they’ll stay for the community. Even though it’s still in its early stages, the metaverse and its variations focus on community features. After all, that is the main point of the metaverse – interacting with people across the world using virtual reality features and feeling like you’re in the same room no matter how far apart you may be physically.
Granted, we’re still far off from being totally immersed in our favorite casino games online. There are a few instances and prototypes of the metaverse you can try, though, and some of them even have casinos. What’s so exciting about them is that you’re not watching pre-animated graphics like on regular slots, but your character (or avatar, as it’s usually called) sits in front of a slot machine. You will feel like you’re playing on a physical slot machine instead of a video game.
In any case, it’s a great time to be a crypto-casino player. The industry has a lot of room to grow, and the casinos are constantly competing through bigger welcome bonuses, more games, and better loyalty rewards. Ultimately we, the players, benefit from all that, getting to have even more fun playing our favorite games – winning crypto coins along the way is just a neat bonus!