Cryptocurrencies and blockchain technology are gradually entering the mainstream and start to influence our everyday life. With the current direction the economy market is taking, the gambling sector is also meeting a lot of innovations, including a recently bigger and more significant number of appearing crypto casinos. How they change the gambling industry? What novelties do they bring?
When playing crypto betting games on the Internet, many players value anonymity for many different reasons. Firstly, the situation of online gambling in their countries might be uncertain. Secondly, they might be afraid of a possible data leak, which could cause them problems with the law or provide additional knowledge to people for whom the possession of this data would be unwelcome by the players. Gambling is often a lonely gig, and almost no one would be happy about the possible, revealing information about his losses or even winnings.
Crypto casinos efficiently solve this problem, as they are based on blockchain technology, which is independent of third parties, like governments and banks. Therefore, transactions are almost entirely anonymous. For example, in Bitcasino the only things you need to provide when depositing money is your wallet ID and e-mail ID, unlike in traditional casinos, where you need to provide your discrete data, such as your name, surname, address, and even bank account number, phone number. Sometimes in traditional casinos, you have to also send a scan of your ids, such as passport or driving license.
Although major traditional casinos are regularly verified and licensed by individual agencies, players may still have suspicions about the honesty of the operators. Many people give up on playing in major casinos only because of this sole reason, like for example on PokerStars which was called a „rigged” software countless times. In crypto casinos, thanks to the blockchain technology, the code of the software are revealed and immutable, which means that even the creators cannot interfere with it. Most crypto betting sites already use the so-called provably good algorithms, which can be analyzed and verified for fairness on the part of the service operator.
Once you know that playing in crypto casinos is anonymous and fully secure, it is time for another crypto advantage of casinos over traditional casinos. Apart from entertainment, players play primarily for money. Crypto casinos offer attractive prizes and bonuses thanks to the fact that running such a site is way cheaper thanks to blockchain technology. For instance, given the reliability and transparency they provide crypto casinos don’t need to spend loads of money on obtaining the gambling license, and thanks to no third party involved on the blockchain, the transactions between players and crypto casinos omit bank fees. It is a very significant advantage of crypto casinos over traditional casinos because excluding these fees means thousands of dollars saved every day.
Another advantage of crypto casinos over traditional casinos are much quicker, usually instant withdrawals and deposits. It is a significant factor for players who are worried about the safety of their funds. In major traditional casinos like PokerStars, withdrawals usually last from 24 to 72 hours, and in less known poker sites they might last from a few days to even few months. In crypto casinos, you can feel secure and always be sure that your money is easily accessible.
With many advantages of blockchain technology, crypto casinos are the future of online gambling. Therefore, it is worth it to take over the competition. For example, if you are a professional poker player, you are probably aware that the poker industry is continually changing, and only people who can adjust to this environment, are likely to succeed. Adapt to the changing conditions before your opponents even start thinking about it!
Cryptocurrencies are going to revolutionize our lives together with the gambling industry. The changes are already happening and thanks to many advantages such as, among others, the security, reliability, transparency, bigger prizes, and faster transactions you may experience the entirely new world of crypto betting games. If you have been playing in traditional casinos, we strongly encourage you to try your hand in any of the crypto casinos.
This article is a Guest Post, submitted by Daney Cross.
Note: Coinnounce.com does not promote, in any way, the gambling industry and does not recommend you to invest/play with your money/cryptocurrencies at any online crypto gambling websites. This article is only the viewpoints of the author and is not intended to promote any gambling sites in any form. The gambling industry, including crypto gambling, is very high-risk.