A Brief Insight into the Sudden Rise of Crypto Gambling

Crypto casinos aim to create a frictionless gambling experience for the punters, a feat impossible for traditional online casinos. Fiat currencies involve a much higher degree of regulations and red tape, restrictions that don’t apply to cryptocurrencies. Hence, picking up the pace and making life easier at crypto casinos.

Some of the common gripes with fiat transactions are longer waiting periods, greater transaction fees, and constant monitoring by the regulatory bodies. Cryptocurrencies serve as an ideal replacement by creating a path where transactions are much quicker. The best online pokies platforms usually offer the highest gambling odds and are provably fair.

The 2 Most Popular Crypto Casinos in 2021

  1. BitStarz – Found in June 2014, BitStarz is perhaps one of the pioneers of crypto gambling. The casino was among the first to introduce Bitcoin as a form of wager and deposit. Users were offered a source code for the game’s win/lose algorithm. The operator is based in Curacao and has over 2,900 games from the biggest brands in its portfolio. And unlike most of its rivals that haven’t been around for a very long time, Bitstarz has the highest number of jackpots to its credit.
  2. – Although fairly new in business, is a strong contender in the industry and has introduced a slew of refined and high-end features to the crypto market. Based in Curacao, the platform caters to punters from around the world and is available in a variety of languages. However, the wagers aren’t hosted on a public blockchain but use a verifiable provably fair RNG. There are public chat rooms and community platforms for player interaction.

How Crypto Casinos Changed Gambling Forever

Crypto casinos enable anonymous transactions, and unlike traditional casinos, three are no restrictions on deposits, withdrawals, or wagers. Moreover, crypto casinos are provably fair, meaning punters have a fair chance of winning the round, as mentioned in the website’s Terms and Conditions.

However, the house always holds an edge in traditional gambling, and the same is true for crypto casinos. However, your chances of winning are much higher in the latter, and the figures are publicly available.

Bitcoin is probably the most widely accepted token used in the market, although Litecoin and Ripple’s XRP is the next most reputed currencies in the market. A few clear perks of crypto gambling include:

  1. Easy accessibility, 24 hours a day, 365 days a week without breaks in between
  2. Zero chances of your account freezing or delayed transactions
  3. Quick transfer between your casino account and crypto wallet
  4. Truly anonymous transactions

While traditional and online casinos follow the stringiest safety protocols, they’re inherently prone to phishing attacks and other malicious attempts. Cryptocurrencies are free from such fallacies as they can only be accessed via an encrypted key that cannot be recreated or tampered with.

This brings us to one of the major downsides of cryptocurrencies. Transactions, once complete, cannot be reversed. And if you lose your encrypted key, there is no way to access the account, and the tokens remain frozen forever.

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