Cryptocurrency Casinos: A New Approach to Internet Gambling

At the time of writing, the cryptocurrency market is experiencing a lull, recording a 19% year-over-year decline, with a total trade volume of $24 billion. Despite this, many experts believe that the blockchain sphere will survive the events of 2022, when the prices of its main currencies, Bitcoin and Ethereum, fell. more than a half from their all-time highs reached at the end of 2021.

One of the most optimistic regarding its return and long-term sustainability is the crypto-casino sector. Bitcoin casinos debuted on the Web in 2011 and slowly grew in popularity throughout the 2010s. As 2020 rolled around, they received a massive surge in interest as digital currencies rose to public awareness, leading to the opening of hundreds of cryptocurrency casino platforms. Now these sites have taken a significant part of the trust industry and are expanding their online presence step by step, on their way to becoming the industry norm. Here is a brief summary of why this happens.

What is a cryptocurrency casino?

Crypto casinos are gambling sites that accept deposits of virtual currency, which means digital funds that players can then wager on gambling products like slots, table games, provably fair unique picks, and more. These include any online site that allows players enjoy crypto betting on online gambling sites that accept digital currencies such as Bitcoin. Note that many people also use the term Bitcoin casino to define sites that belong to this genre. This is due to the prevalence and dominance of the world’s early crypto, a fungible token that many people see as synonymous with blockchain transactions.

Account creation in seconds

Standard casino apps require players to fill out multi-page forms upon registration. At least, that’s what most sites regulated by country-specific agencies require. That is something most online gambling fans hate, finding the process cumbersome. Also, they are not very comfortable with the idea of ​​giving personal data so freely. Bitcoin casinos have changed the game by making it easy to create accounts almost instantly. Most of the brands in the platform class just ask their new user to enter a username, password, and email. That is all. Some even go as far as not asking for a username and password. They are automatically generated once a player enters their email and clicks the sign up button. Once a member, everyone can modify their login credentials within their profile page after verifying their account via a link sent to their email inbox.

Additionally, some operators allow an option for players to join their ranks using social media credentials. That’s possible if users choose to share the information they’ve already provided to a network like Google, Facebook, Twitter, Discord, or Metamask. And opting to do so generates an account with your chosen cryptocurrency casino brand instantly.

Fast currency transfers

Bitcoin transactions, on average, happen in around forty minutes or so. The process may go faster depending on the network load. However, forty minutes is a good rule of thumb. That is often the time from when a withdrawal request is approved at crypto casinos until it arrives at a designated wallet address. That’s the same amount of time it takes for Dogecoin transfers to finish. However, it is vital to note that these cryptocurrencies are nowhere near the top of the cryptocurrency rankings in terms of speed. tron transactions happen in a minuteand Ripple’s happen in seconds.

There is no comparison between the speed of payment in crypto casino centers and that offered by fiat options in the standards. For example, credit/debit card withdrawals are typically completed in three to five business days, and it takes around twenty-four hours for funds from the eWallet to travel from sender to recipient.

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New Bonuses at Bitcoin Casinos

Online casinos have been limited to offering deposit matches on record for two decades. That has been the backbone of marketing efforts in this sphere. Few gamers know this, but game companies don’t enjoy the same advertising freedom that other companies get for obvious reasons. Therefore, they have relied on substantial amounts of free cash on signup to attract slots and table lovers to their lobbies.

Cryptocurrency casinos stick to this proven formula, but some forego deposit matches altogether, choosing to focus on attractive loyalty schemes, which offer cash back. These are refunds that players get, and the more they bet, the higher their payback percentage. Rewards such as sweepstakes, social media giveaways, and prizes for participating in chats are new approaches that Bitcoin casino apps are taking to drive a sense of community on their platforms. Mystery chests, which are loot box-like promotions, are also something that many players love about crypto casinos, as these promotions are more or less gamble as you gamble.

Robust selection of games

When the original Bitcoin casino games first appeared on the internet, they only offered one product per platform, usually custom versions of dice or crashes. Today, thanks to Curacao-based regulators who license and oversee cryptocurrency casino hubs, these brands can feature products from virtually any vendor on Earth, as Curacao master license holders approve almost anyone. That means it is quite common for operators operating in the blockchain gambling landscape to have extensive gaming sections that feature several thousand games.

These selections include video poker, scratch cards, spinning reels, RNG and live table games, host broadcast options, arcade shooters, provably fair simplistic options and more.

Secret of the game and worldwide acceptance

Despite the prevalence of Know Your Customer identity verification procedures, many cryptocurrency casino websites, even licensed ones, do not implement them. Many do, but only in cases where players are looking to withdraw a substantial amount of their balance. Since most sites that offer provably fair titles don’t have regulatory approval, they don’t care who comes from where or your true identity. They mostly operate in good faith with their user base and have done so successfully for years with little to no hiccups. Therefore, it is possible to gamble secretly without regions in Bitcoin casinos online.

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