Cryptocurrencies offer pseudo-anonymity, trustful operation, and a lot of freedom for those who own them. All these features make cryptocurrencies perfect for online gamblers. So one after the other, gamblers are turning to cryptocurrencies as the means to fund their favorite pastime. These are the top 3 cryptocurrencies for online gambling.
Over the course of the past few years, people accepted Bitcoin as an official method of payment for a number of products and services in both physical businesses and online services. The gambling industry was at the forefront of accepting this method of payment enabling it to develop even more. So keep on reading to find out about all the ways you could use Bitcoin while visiting online venues.
The Rise of Bitcoin
Before you jump to a new decision, take your time to learn more about this digital currency — this way, you can take the most advantage out of it.
No one owns this this digital and entirely decentralized currency — there is no country, corporation or anything similar involved. It is completely independent. The system that is in place is processing all transactions between the users solely, without a middle-man. At the moment, you can purchase coins using online vendors only. Bear in mind that this currency is fluctuating in its value. That’s why you should be keeping track, since the volatility of the price of Bitcoin can make this a relatively sketchy venture.
Why Gamblers Prefer Bitcoin
Bitcoin has affected the online gambling industry so much that now players not only have access to online venues allowing this method of payment, but the number of Crypto casinos is growing every day.
The operators have enabled secure payment interface — this helps gamblers to transfer their bitcoins through secure channels. So, safety and anonymity are what is associated with each type of bitcoin gambling sites. There is no need for your personal and banking information, and players are required to fill in only their essential details such as age, password, and location. Most players will agree — this is a stalemate as all venues request extensive and detailed verification all the time.
On top of all that, gamblers are entitled to many affordable transaction rates that have been uncommon ever since online gambling industry took place. Instead, players are charged with versatile transactional forms, and that’s how they pay their fees.
While there, try introducing yourself to one of the most powerful infrastructures that have obtained celebrity fame since it entered the busy cryptocurrency market. This decentralized system was created to enable hosting and execution and development of commercial-scale applications. Additionally, it provides them with the necessary core functionalities. This way, businesses have the opportunity to build blockchain apps that are created in the same manner as other web-based applications.
The most appeal comes from the removal of any transaction fees and the ability to perform millions of transactions in a matter of seconds. Although there are many similar blockchain-based networks out there, EOS tried to switch the focus on critical points that affected their reputation. For example, they give their best to improve problems of scalability, speed, and flexibility. This has been a recurrent issue, and they managed to fix it through the system of unique mechanisms.
The future of EOS seems to be clear, especially since they ensured their partnership with Everipedia. They are providing information through government firewalls along with the educational reference available to everyone, from all parts of the world. These two are just a couple of many who joined in striving in this competitive ecosystem.
This initially started as a light-hearted cryptocurrency with the intention of approaching more than regular Bitcoin audience. Dogecoin was based on a now-viral meme that featured Shiba Inu on its logo. Initially, people used it as a part of the tipping system on Twitter or Reddit. The mass audience rewarded quality content with Dogecoin logo.
This currency emerged from Litecoin during 2013, and the responsible ones are Billy Markus from Portland and Jackson Palmer from Australia. This team envisioned this new form of cryptocurrency to rise above others since it was unique, and the logo and story behind it appealed to many.
This currency operated the same way as others — except for the fact that with this one, the marketing campaign was on point, and it’s what set it apart. Besides the obvious use, its association with the popular meme is assuring its popularity. There are even online gambling sites that specialize in offering Dogecoin blackjack and other games that revolve around this cryptocurrency.
So what does the future hold? The cryptocurrencies are climbing the popularity ladder higher and higher each day. Besides their apparent advantages, such as speed and anonymity, plenty of online casino operators are racing each other with promotional campaigns for the customers. With these campaigns, they provide their customers with unusually high offers and bonuses in case they choose to use cryptocurrency as their method of payment.
When you put it into perspective, it’s a win-win situation since this way casino venues are attracting more tech-savvy players from far and remote parts of the world. These players enjoy all the benefits while helping the online gambling industry spread wide across the globe. The use of a decentralized (mostly tax-free) source of money made it possible for gambling platforms to give us casino games with a “0 house edge.” As far as payment methods go, it doesn’t get much better than crypto gambling.