Digitization has penetrated various sectors, including gambling and gaming too. Most countries, especially Muslim countries, do not allow gambling in online casinos. This gave rise to anonymous gameplay. It further paved the way for Bitcoin casinos or crypto casinos online. You can play and invest from anywhere and at any time. The mingling of online casinos and cryptocurrency led to convenience, safety, and fast transactions.
History Of Cryptocurrency In Online Casinos
Crypto casinos emerged some time ago in the gambling world but have taken everything by storm.
Year 2009: The Rise Of Cryptocurrencies
It all started in 2009 when Bitcoin started the wave, and many other cryptocurrencies joined the league. Satoshi Nakamoto is known to create Bitcoin. After Bitcoin, Litecoin and Ethereum joined the club. Players also use them to bet in online casinos. Online casinos emerged when the Internet started becoming accessible to the public. The advanced technology and improved graphics paved the way for better gaming opportunities. People started betting online on slot games, poker games, table games, etc.
Year 2012: Use Of Bitcoin
The first-ever Blockchain-related digital value accepted in May 2012 was Bitcoin. It cleared the way for other digital currencies too. It was quickly followed for carrying out transactions by Ethereum, Litecoin, and Ripple.
Year 2014: Introduction Of The First Crypto Casino
The first casino offering Bitcoin gambling was Bitcasino. It was the first casino to adopt Bitcoin as the payment method. It cleared the way for other casinos to provide online gambling to the players. After 2014, many online casinos appeared on the scene that offered Bitcoin and other Cryptocurrencies for gambling. We would like to tell you that there are exclusive Cryptocurrency-based casinos, and a few casino sites offer digital currency deposits and fiat currencies.
Future Of Cryptocurrency Casinos
The future of cryptocurrency-based casinos has shifted from Bitcoins and other digital currencies to NFTs. The non-fungible tokens can be seen for online transactions. The casinos are doing everything to make cryptocurrency a player's top choice. It will prevail over security and privacy too.
Crypto deposits and withdrawals have made the life of many players easier. None of us would like to get banned from the games that let us have some fun. Isn't it?
How Cryptocurrency-Based Casinos Have Revolutionized Gambling?
The gambling industry has been revolutionized with cryptocurrency and Blockchain technology. Most online casinos have started accepting digital currencies to provide convenience to the players. It helps them play the games anonymously.
Here is how cryptocurrency has made an impact on the gambling industry.
1. Increased Credibility
Online operators and players both are benefitted from cryptocurrency usage. Players who want to play comfortably and anonymously can play with any digital currency. Casinos can provide better services, bonuses, and promotions to the players. They can play any game with a no-deposit bonus too. The gaming environment remains secure and private with the use of cryptocurrency.
2. Affordability and Instant Transactions
You pay a certain transaction fee when you pay through debit or credit card or bank transfers. Do you like paying extra on your winnings? Well, no one likes that. There is no such problem with cryptocurrencies. Whether you use Bitcoin or any other form of cryptocurrency, you won't have to pay extra. There is no additional fee. You end up getting your winnings within 24 hours or less.
The biggest fear of a player is to pay online and end up getting their personal and financial details compromised. You will not like your hard-earned money to go into someone else's hands. Cryptocurrency transactions are anonymous and based on Blockchain technology. It uses private keys and a ledger to monitor the crypto transactions. Another person cannot get access to your account until they have the private key. It means no manipulation, and there will be no hacking committed too.
The best thing crypto casinos have done for gamblers is to provide the convenience of gameplay and comfort. Players from restricted countries can safely and anonymously play using Bitcoin or any other cryptocurrency. They do not have to care about any legal proceedings against them. There are a few countries where traditional casinos are banned for the natives. Players who want to experience gambling fun can log into reputable and professional casinos to play safely.
5. Fairness and Transparency
Crypto casinos are open about the transactions and how much BTC or other digital currency rewards they will pay the players. There are no false marketing gimmicks to lure customers. If there are any fraudulent activities, the players will be alerted, and they can stop transactions or gameplay. It will enhance the reputation of a casino.
Blockchain technology has changed the way cryptocurrency functions. There is widespread use of crypto gameplay. Big casino experts are mindfully rating cryptocurrency as the 'gambling token.' Do you know what else you can experience at the crypto casino? If not, hop on the crypto gaming bandwagon to feel the fun!