Can you imagine playing games such as roulette or blackjack at a casino without having access to a bank account? Imagine being able to deposit cash into a slot machine using your smartphone or tablet! This is just one example of where blockchain has the potential to disrupt our current financial system.
Blockchain, a new type of distributed ledger technology (DLT), is already revolutionizing finance. According to Accenture research, over 60% of large enterprises plan to deploy DLTs within three years. The benefits of blockchain include faster transaction speeds, reduced costs, improved security, and new opportunities for innovation. Here is more you need to know about crypto casinos and how they work.
What are Crypto Casinos
A crypto casino is an online platform that allows players to play real money slots, card games, video poker, skill games and other casino games while they earn virtual currencies called “cryptocurrencies”. These cryptocurrencies can be deposited directly into the player’s gaming wallet or exchanged for fiat currency like U.S. dollars. A few examples include Bitcoin and Ethereum which were born out of the blockchain movement and used by many crypto casinos today.
What makes these platforms so revolutionary is that instead of requiring users to use banking systems, they offer them the opportunity to engage with their games through direct transfer from one party to another without third-party involvement. This level of transparency eliminates any need for intermediaries such as banks. In addition, because all transactions take place on a public network, there is no way to hack or manipulate data. This gives cryptocurrency the advantages of complete security, speed, convenience and anonymity.
How Do CryptoCasinos Work?
The process is simple. Players create accounts on a crypto casino website using their credit cards or debit cards. Users then download software onto their mobile or desktop devices. Once installed, they log onto the site and link their cards or accounts to the specific games they wish to play. They also decide if they want to make deposits or withdrawals in cryptocurrency or fiat currency. After making their initial deposit, they choose to either start playing immediately or hold off until later. If a user wants to withdraw funds, he/she simply logs back into the app and selects withdrawal options. Depending on the operator, some may require additional verification before sending them digital currency.
Players typically have to deposit between $0.01-$100 USD per day just to cover gas fees, which can add up quickly. Some operators try to mitigate this issue by offering free credits during new player signup periods. However, even when free money is offered upfront, players still incur ongoing charges when trying to keep active on the site.
Top 3 features of Crypto Casinos:
For true freedom, nothing beats crypto. Because transactions occur digitally and instantly, no matter what country you live in, no middlemen stand in the way of doing business. It takes less than an hour to acquire cryptocurrency versus days or weeks to wait for checks to clear at most conventional casinos.
While cryptocurrency itself has been around since 2008 when Satoshi Nakamoto first published his white paper describing Bitcoin, its underlying technology, blockchains, was not invented until 2014. The fact that each account is stored on a decentralized database is what gives the whole system its incredible strength. Blockchain can’t be hacked, altered or reversed. Not only do traditional operators lose potential revenue due to hacking attempts but they risk losing customer trust and potentially being shut down forever. No wonder regulators consider it illegal!
The world of crypto offers complete privacy, allowing people to move freely across borders without having to give financial institutions information about themselves. It’s very similar to how eBay works. You don’t need to share your personal identity or address to sell your car online—it’s all behind closed doors and invisible to prying eyes.
A few key examples include:
BitWings (one of the largest Asian operators) – Bitwings provides players with access via their web browser or downloadable Android platform. Both provide a seamless experience and allow users to easily deposit and withdraw US dollars.
Betcoinz – Betcoinz does allow players to fund their account with BTC directly. Their platform allows users to stake and win BTC while they’re playing. A unique feature is their ability to automatically convert staked coins to Euros with minimal fees.
Playson – Playson utilizes a proprietary blockchain to streamline payments and handle deposits and withdrawals. All payouts are instant, and users don’t even need to verify their identities. Additionally, Playson integrates with over 30 different payment methods including Visa, Mastercard, Paypal, Amazon Payments, Apple Pay and more.
Crypto Currency Bonus Offers
So if you want to play high-quality games in a secure environment where the house edge is virtually 0%, then you should get yourself a bonus code for one of these top cryptogaming sites. They’ll take care of any withdrawal issues and may even let you exchange funds from fiat to cryptocurrencies such as BTC, ETH, LTC, DASH, XMR, BCH, or EOS. If you already gamble, it’s time to start taking things further and see what the future holds with cryptocurrency.