The world of crypto gambling: worth giving a try
Cryptocurrencies are becoming increasingly popular nowadays, including in the gambling industry. Before we deal with the main topic, it is important to understand what cryptocurrency actually is. Without enough knowledge, even the best crypto casino won’t satisfy your needs. Cryptocurrency is a digital payment system designed to replace the use of traditional cash. It can be used for services or goods, and several currencies are available, commonly referred to as tokens. These coins are available in different values, and all have something in common: they work based on a certain technology known as a blockchain.
Crypto casinos: rules and licenses
As with real money online casinos, there is no state or independent body in many countries that regulates or licenses online casinos. Users have to rely on licenses offered by agencies from other countries. There are two types of crypto casinos.
Regulated crypto casinos are the type of casinos that are licensed and claim to be regulated. The licenses are usually shady and difficult to check. Anonymous casinos are completely unregulated and promise players privacy. They do not follow KYC procedures. You don't ask for your data. It is very difficult to check whether they are safe and honest. Companies that offer anonymous casinos are also difficult to check; they are based in offshore countries or areas.
You can find a good crypto casino that suits your needs by doing thorough research. Before you play at a crypto casino, you should ask yourself the following questions:
- Does the casino have a license?
- How secure is the encryption software?
- How easy and secure can I deposit or withdraw my money?
- How fair are the game systems? Do I have a chance to win?
Most answers can be found when you read casino reviews and ask people in gambling communities for their opinion. Pay attention to reviews from real users and not from online authors, as they are paid for advertising and only give positive reviews for these casinos.
Due to their risky nature, many crypto casinos are blocked by countries’ governments and cannot offer their services. However, players can bypass this blockade with the help of a VPN.
Crypto casinos compared to classic real money casinos
Especially young players with modern attitudes are enthusiastic about cryptocurrencies and invest their money in such an innovative form of investment. Due to the dynamic developments in this area, high profits attract. In order to benefit from income, payments in online casinos have also been possible for some time. However, the range of service providers is still relatively limited, as this is a new and unknown method for many.
Payment with cryptocurrencies is only possible via external payment providers. On the other hand, the classic real money casinos have long established themselves in the gambling industry and offer users the usual advantages. For example, players at reputable Swiss casinos with real money have many payment methods to make the necessary deposits and withdrawals. In this way, personal preferences can be taken into account, and advantageous bonus offers can be taken advantage of.
Advantages and disadvantages of crypto casinos
Meanwhile, there is a wide range of cryptocurrencies, including the following representatives:
When used in online casinos, they protect players’ privacy, as digital currencies cannot be tracked. In this way, the owners of the cryptocurrencies can expect continuous anonymity. Although all transactions between the crypto casino and the player are stored on the blockchain, the technology does not allow conclusions to be drawn about the stored data on individual persons.
The payouts are made with a crypto wallet, which is also anonymized. The stored information is a combination of letters and numbers, which result in the public key, which serves as a pseudonym for a real user. This protects personal data better than common payment methods such as credit cards. However, the offer of online casinos that accept cryptocurrencies is still a little bit limited.
Advantages and disadvantages of real money casinos
Real-money casinos are the classics among online offers and have established themselves among players for a long time. If you choose a reputable provider, you will receive comprehensive security in all aspects. In addition, virtual gambling providers offer to get started testing the casino games without spending money in the form of a free demo version. Furthermore, when making a deposit, players get access to many different bonus promotions, with which, for example, free spins can be used. Based on this welcome bonus, users often have twice as much money available to play. Thus, the chances of winning are sustainably increased. In addition, the selection of games is greater, as participation in the live casino is possible. Although there are also secure payment methods such as e-wallets, prepaid cards, and the Paysafecard, there is no complete anonymity as with cryptocurrencies.
Both crypto casinos and real money casinos have their advantages and disadvantages. If you prefer a wide selection of games and payment methods, the latter online casinos are best advised. If you want to be anonymous and try something new, crypto is just what you need. Spin and win!