Sometimes industries manifest themselves quite unexpectedly. Back in the early noughties, online dating sites were the only way to meet a beautiful girl, and now these platforms bring billions of dollars to shareholders and advertisers. A kind of similar discovery happened in the gambling industry.
Before the appearance of cryptocurrency and crypto casinos, casino gambling was anything: dubious passion, expensive leisure, morally questionable hobby, but not a way to earn and get real predictable benefits.
The emergence of bitcoins gave a powerful impetus to developers, financiers and product managers for a new level of development of online casinos. Fortunately for consumers, this also had a positive effect. A narrow circle of people has developed a legal and promising platform for making real money in online casinos.
What Did the Cryptocurrency Bring to Crypto Casinos?
- First, crypto casinos are the same as usual, only more modern, safer and cooler. If you see a cryptocurrency badge, be sure that the services and software of this online casino go forward by leaps and bounds.
- Secondly, it is more comfortable than ever to carry out operations with cryptocurrency nowadays. Fast transactions, privacy, no fraud prevention fees and complete anonymity.
- From this follows the third point. Crypto casinos are safe and legal. And even if casinos are banned in some countries, this does not apply to casinos that work with cryptocurrencies, since regulators do not control this area.
The free circulation of cryptocurrency opened up a new way of gambling development, the casinos began to grow by leaps and bounds, creating healthy competition and quality growth. Leading casinos around the world continue to implement cryptocurrencies in their platforms after the necessary assessments and background tests.
To date, the market is trading more than a thousand varieties of cryptocurrencies. Most of the currencies introduced on the gaming platforms were initiated by the players themselves. Now it became possible to credit your casino account with cryptocurrency to play the most popular games.
What Cryptocurrencies Do Casinos Use?
Bitcoin – BTC
Bitcoin cryptocurrency first appeared on the market in January 2009, becoming the first decentralized digital currency. Bitcoin, being just a cryptocurrency, quickly became quite a popular payment tool. In 2015, the famous Las Vegas casinos began accepting Bitcoin as payment. At first, it was used to pay small bets before it was accepted for big bets in the main casino games. This cryptocurrency is largely due to the gaming industry.
Indeed, many of the casinos, from the SlotsCalendar.com reviews, accept Bitcoin. In online casinos bets are much easier to place in Bitcoins than in fiat money. In addition, when using Bitcoin in online casinos, transactions are not charged.
Ethereum – ETH
Ethereum is the second most popular cryptocurrency on today’s cryptocurrency market. This is an open source cryptocurrency operating on blockchain technology, introduced in mid-2015. Ethereum has a unique blockchain, and many cryptocurrencies use this particular blockchain technology. The gaming market uses Ethereum technology primarily for game development. Due to the ease of use of Ethereum and its stable position in the cryptocurrency market, it is one of the most popular cryptocurrencies in the game world.
Litecoin – LTC
Litecoin is a peer-to-peer cryptocurrency introduced in 2011. Like Bitcoin and Ethereum, it is based on a cryptographic protocol. Cryptocurrency is not controlled by centralized authorities. Litecoin practically copies Bitcoin in its characteristics, but its transaction processing speed is 2.5 minutes, unlike Bitcoin’s 10 minutes. Litecoin is unofficially considered to be Bitcoin’s younger brother. Today there are at least fifteen casinos accepting Litecoin.