In the past few years, people would frequently talk about how cryptocurrencies have become a popular topic of conversation. Today, they are a part of global culture, as over one hundred and six million people on Earth have invested in forms of digital money, per data from the crypto exchange Crypto.com. CNBC believes that one in ten Americans have bought cryptographic coins, ranking these assets only behind real estate, mutual funds, and bonds among the current most established investment options. Hence, the world is undoubtedly going crypto crazy, and the online gambling sphere ranks as one of the first cryptocurrency adopters ever.
Bitcoin casinos became a thing in 2011 when the first sets of provably fair dice sites hit the internet. A few years later, Curacao’s regulators began licensing gaming platforms offering games of chance that accept crypto wagers. And in recent times, there has been an explosion of crypto gambling sites on the World Wide Web. That wave has gotten so huge that it is now unusual to spot a high-end international online casino that does not allow any form of digital money for depositing. Thus, thanks to the various perks of these payment methods, they are becoming most gamblers go to transaction pick concerning gaming fun. An explanation follows how and why this came to be and the most alluring aspects of using a crypto casino when a game of chance enthusiast wishes to test their good fortune remotely.
What Is a Bitcoin Casino Precisely?
A Bitcoin casino is an interactive gaming platform that accepts digital coins and offers games for real money that generate arbitrary results. These can include traditional casino choices like blackjack, baccarat, and slots or novel picks not available at land-based gambling locales. Dice, Plinko, Mines, Limbo, and others fall into the latter category. Those options are also not on deck at online casinos that only accept fiat transfers for depositing.
Essentially, a crypto casino differs from a regular one in three general areas, money transfer methods, game selection, and the bonus supplied. In other areas, the differences between these two platform categories are more or less negligible.
Cryptocurrency Casinos Offer Swift Registration
Creating an account at a crypto gaming platform should not take more than a minute. Two at most. That is so because most of these sites only ask that users input a user name, password, and email address. That is all. Then they send a verification link to a player’s email inbox. Upon it getting clicked, it causes the operator to activate said crypto gambling account. Therefore, the entire process should go down as follows:
- A gambler picks a crypto casino that tickles their fancy.
- The person presses the sign-up button.
- They fill in the necessary fields with the required data.
- Click on the verification link sent to their email inbox.
- Deposit coins into their crypto gambling account.
Some sites go a step further and simplify this process even more by auto-generating accounts for their users featuring randomized user names and passwords their patrons can change inside their profile pages.
Seldom will a crypto gaming hub ask a user to give away their real name and address unless it is during the Know Your Client identification process? That is something that many regulators mandate that their operators must enforce, fiat and crypto alike.
Crypto Casinos Facilitate Fast Coin-Based Transfers
Most online gamblers have gotten used to waiting a few days before getting the fruits of their good fortune. Credit/debit card transfers take anywhere from three to five days at gambling sites regarding withdrawals. E-wallets can lower this wait time to 48-hours while selecting bank wire transfers for the removal of casino funds can extend it to seven working days or more.
Nevertheless, cryptos can cut it down to minutes. Bitcoin transactions, on average, take around forty minutes to complete. That is super slow by blockchain standards, as Bitcoin’s number one competitor, the Ethereum ledger, can process transfers in five minutes. Ripple can do so instantly, the same as Solana. On top of these fast speeds, coin-based payments also benefit from utilizing cryptographic technology, which implements high-quality encryption that is virtually uncrackable. Furthermore, crypto addresses and wallets carry no personal user information, so identity theft is no longer a possibility when one chooses to enjoy gaming entertainment at cryptocurrency casinos.
What Bonuses Do Bitcoin Casinos Provide?
No set of pre-defined bonuses found at every crypto casino online exists. Each operator chooses what promotions it will provide at every one of its brands. Bitcoin casinos that focus on provably fair products like dice like to stick to old school promos such as faucets and chat rain. Newer sites that boast vast game lobbies gravitate towards more established market deals like welcome and reload deposit matches, free spins, and cashback.
One promo category that more and more crypto gaming sites utilize is loyalty schemes. These are multi-tiered systems that users can advance through their bet activity. The more they wager at their chosen hub, the better perks they become privy to, enhancing their gaming experience. Gamblers are far more likely to stumble upon a promo-heavy crypto casino than a fiat one because the crypto niche craves a higher level of interactions and desires that operators implement gamification concepts on the platforms.
The Exciting Game Catalogs at Premium Crypto Casinos
Since most gaming sites that process crypto transactions these days have a Curacao license, either from Antillephone, Curacao Gaming, or Curacao eGaming, these can pack their game libraries to the brim with products. It is commonplace for such platforms to offer up to several thousand titles, ranging from RNG-powered and live table games to slots and lottery-style picks. Curacao’s master license holders do not implement the same stringent testing criteria or technical stipulations for providers to team up with their licensees. Consequently, one Curacao-based operator often works with sixty or more providers allowing them to have an obscene amount of games in their lobbies.
Provably fair options are still viable picks at cryptocurrency casinos, and many hard-core gamblers prefer them. They deliver simple gaming action with random number generation algorithms that players can reset. Plus, they let them check the validity of their result generation processes. The top picks in this category are dice and crash, and they have kept this honor for a decade now.
Gamblers Can Keep Their Anonymity at a Cryptocurrency Casino
Around 80% of Bitcoin casinos will ask their user base to go through a KYC process before their first withdrawal. Many players hate this and consider it the bane of their online gambling experience. Thus, to appear more enticing to new players, some novel sites will attempt to boost their appeal by not enforcing any Know Your Customer/Client process if users follow their outlined terms and conditions. Others that only house provably fair options do not even have a gaming license and forego any KYC measures whatsoever, operating on a good faith basis with their clientele. That also allows them to accept players from every country on the planet. A possibility that gets presented by the fact that they have no regulator, so they are free to do as they please.
While it may be dangerous to play at an unlicensed site, as that leaves players with no discourse in case of a dispute, with no one to turn to for help, multiple unlicensed platforms have operated for years, with proven track records of always paying out wins. These are the hubs that supply true online gambling anonymity and international acceptance.