September 27, 2022
Ever since online casinos rose to prominence in the ‘90s, they have been plagued by lots of predicaments. At the top of these issues are government seizures and limited payment/withdrawal processors. However, the emergence of digital currencies has offered a lifeline to online gambling sites.
Cryptocurrency is a blockchain-driven technology that enables peer-to-peer transactions and, in turn, eliminates financial intermediaries. Cryptos are now favored in casinos because they are decentralized and encrypt transactional details. Live Casino players can transact while remaining completely anonymous. Here’s a run-down of the most popular cryptos in online gambling.
Although not deemed as a mainstream currency, Bitcoin is the best gambling cryptocurrency in Internet casinos. Most top gambling sites accept Bitcoin. Players can play their favorite games by using Bitcoin to purchase gambling coins and then staking the amount they wish to wager. Winnings can also be cashed out to a player’s wallet.
The only requirement that gamers need is a digital wallet. This wallet can be used to purchase coins from vendors, deposit the coins to a casino, and accept withdrawn coins from the casino. Bitcoin is entirely secure and has been online since 2009. Its value is market-driven, meaning that casino withdrawals can appreciate quickly.
Another cryptocurrency for gambling coin that rivals Bitcoin is Ethereum. Despite being a relatively new coin, it has quickly been integrated into many online casinos. Before gambling, players must first register with Ethereum casinos. These casinos provide their wallet details and require gamblers to transfer the amount they wish to deposit to the provided address.
Players can play any game using Ethereum, but the number and availability of these games are dictated by the casino of choice. The bonuses an Ethereum player gets are also similar to standard bonuses. If a gambler deposits 1ETH to a 100% bonus on deposit casino, the said player will get a bonus of 1ETH.
Besides the mentioned two, cryptocurrency gambling also involves other coins. Other more popular cryptos include Dash, Monero, Zcash, Dogecoin, Ripple, and Litecoin. The lowdown to these coins is the limited number of casino sites that accept them. The few that take the mentioned cryptos also tend to restrict their usage to specific games.
Due to the spike in trading and usage of digital currencies in casinos, there is a concern about their overall security. It’s, therefore, not surprising that CFD providers continue to emerge to fill this gap. An example of such a provider is Japan’s Monex. This company secures digital assets like Ethereum and Bitcoin.
Explore the dynamic world of live casino games and discover how they can elevate your cryptocurrency gaming experience. From enhanced security to instant transactions, learn how integrating crypto with live dealer games offers a thrilling and efficient way to enjoy your favorite casino classics.
The thing is, live casino games are one of the only places you can use crypto. As we have mentioned, cryptocurrencies are like real-world currencies. You can use cryptocurrencies to purchase items. Since crypto technology is in its early stages, not many platforms currently accept cryptocurrencies as payments.
Some of the few places where you can use cryptocurrencies as payments include digital content marketplaces like online video game stores and online casinos. If you have a bunch of cryptos in your digital wallet and are trying to figure out what to do with it, why not play a few live dealer games?
Many people started mining a few cryptocurrencies back in the day when they were popular. If you were one of those people and now don't know what to do with those cryptos, you can try finding online casinos that accept those currencies as payments and play some live games there.
One of the main reasons why people have started to adopt cryptocurrencies is because they are convenient. Cryptocurrencies don't require governments, and they don't require banking infrastructure to operate.
All of those things cost a lot of money, which is why you have to pay transfer fees when you transfer your money through a banking system. When you send crypto to another wallet, the transfer fees are either very small or almost 0.
Convenience is also one of the main reasons people prefer to play live casino games instead of going to an actual casino. You can play live games from the comfort of your own home. You don't even have to get out of bed!
Mumbai-born Priya is India's rising star in the realm of online casino guides. With a knack for fusing traditional Indian gaming narratives with cutting-edge digital dynamics, she's an essential bridge between classic and contemporary gaming for a vast Indian audience.