The gambling industry became a thing in 1638 in Venice, Italy. Since then, lots of things have changed, most for the better, while some took a bad turn. Either way, improvements, and tweaks are made everyday to make the player experience even better. With the popularity of cryptocurrencies and the metaverse we also saw an increase in gambling taking place there.
Here, we will explain more about this, we won’t get in-depth about cryptocurrencies themselves. We’ll save that for another time.
If changes like these are for the better or the worse that is something subjective you should decide. Some may argue that they should leave the casino and gambling industry alone, and simplicity is the beauty of the game. Others argue that casinos are never transparent and too old-school. Whatever you may think about this, the casino industry is always trying to think of the player.
Cryptocurrency casinos operation
In essence, cryptocurrency casinos work completely the same like any other casinos or online casinos. The only changing factor here is the currency, so instead of you paying with Dollars or Pounds, you are putting cryptocoins or cryptocurrency in your wallet on the casino site.
So when you are about to play, a lot of time you will utilise Bitcoin or other coins like Etherium, to make a bet or do a move. Other sites let you deposit in Cryptocurrencies but make you exchange them straight away into tokens or credits. This way they prevent price fluctuation. That is where the value of your wallet will fluctuate based on the cryptocurrency.
However, where cryptocurrency casinos shine is transaction costs, transaction speeds and bonuses. With cryptocurrency, a deposit can be made within seconds or minutes depending on your coin. Also with cryptocurrency, there is often only a small to no fee associated with the transfer. Cryptocurrency casinos are also very likely to give out bonuses more to their players in times of great valuation of the cryptocurrency.
There is a main drawback to cryptocurrency cassinos and that is that they require the knowledge of holding cryptocurrencies, transferring cryptocurrencies, buying cryptocurrencies and others. This is the main drawback for people to get into crypto casinos. But this is only a matter of time, as the cryptocurrency grows, so do the people that will play the casinos. However, if you are someone that is currently on the verge of buying your first cryptocurrency, it’s always good practice to do your research, and popular guides like these can help.
How to find a good cryptocurrency casino?
So, how do you find a cryptocurrency casino? Sadly enough, not all cryptocurrency online casinos are created equal. Since the cryptocurrency space is a hyped and popular place, there are also a lot of people in the market with bad intentions. Scammers will try in every way to get your money into their pockets. People like these really drag the reputations of crypto casinos through the mud. And not only for the cryptocurrency casinos, also for the general market. A lot of households are afraid of investing into Bitcoin or cryptocurrency for these reasons.
To get back to the question, finding a good reputable crypto casino is easier said than done.
However, using popular sites like casinotopsonline.com help us distinguish the bad from the good. Going online and trying to search one, will return you many results but many of those results will lead you right into the scammers hands.
This is not meant to scare you away from all online crypto casinos, but to make you wary of what’s out there. After all, this is a very saturated and big market, and rotten apples may come along.