Why Crypto Casinos Have Soared in Popularity
The first ever crypto casino was launched in the early 2010s, when digital currencies first soared in popularity. Many iGaming operators then started offering their players the chance to use Bitcoin to play the games, providing certain bonuses.
What was (and still is) so appealing about crypto casinos is that the players also profited from fluctuating exchange rates of these cryptocurrencies. iGaming through the use of crypto is still growing and will not be stopping anytime soon.
At this moment, there are two different kinds of crypto casinos. The first being a regular online casino which accepts crypto as a payment method, and the other is a gambling site based on a blockchain technology. These are the real deal, as it has no server and no managers, since the blockchain deals with everything itself.
What is Blockchain?
Blockchain is a database that is decentralized. Basically, it operates on computers without needing a server. So, in order to be able to access these casinos, the players need to have some extensions on their computers. The technology is equipped with a feature which processes all payments automatically, so even if the casino is shut down, the players can still keep their winnings in the blockchain.
What are the benefits of a crypto casino?
- The number 1 benefit that players always seek out is that the casinos are not region-locked and do not need licencing. Since they do not possess a central server, they do not need to be approved by the government, since they cannot control the servers because they do not exist. Therefore, the casinos are not limited by region or country borders. Players from all over the globe can access them, and even stay completely anonymous. All they need is an email address to sign up and all is done from there.
- Another advantage us Provably Fair gameplay. All players are able to use the true RTP bets in all games, and the system can never be cheated, making all of the game 100% fair.
- There is also no need for verification at crypto casinos, since no one needs to verify the withdrawal request. The winnings are technically already on the blockchain system and possess a contract. This means that payments are given as soon as a player wins, with no delays and no need to wait several hours or days.
- The government is also unable to ban people from making a deposit into a crypto casino, and no withdrawals can be restricted. Blockchain also offers a significantly lower transaction fee than your traditional fiat casino, meaning that not only can you stay away from the banking system but also save on the fees.
These are all great points that pull people towards crypto online casinos. Blockchain and crypto have greatly facilitated iGaming and players are able to make much larger profit from these digital currencies.