A cryptocurrency-based casino is very similar to any other online casino, except you are gambling with a cryptocurrency instead of fiat cash. Although these two types of casinos are very similar in nature, there are some minor differences that you should be aware of before you decide which one to play at. This article will highlight those differences and help you to make a more informed choice of where to play.
Just remember, all of the games that you know and love from other online casinos—like slots, blackjack, roulette, and more—are all available at crypto casinos, too. The only difference is the financial transactions.
Ready to find out about the benefits provided by crypto casinos? Keep reading to learn more!
What Do You Need To Play With On-Chain Casinos
There are a few absolute essentials that you will need before you start playing at a crypto casino. The first is a cryptocurrency wallet. This is a must if you are going to own cryptocurrency, and you can’t play at a casino without having money to begin with. There are a number of really good wallets, both online and hardware-based. This is a topic that others have explored in great detail elsewhere on the web, so I won’t waste your time with details. Either way, you need a wallet.
You will need money in that wallet, too. Again, obtaining a cryptocurrency is reviewed in other places if you need help with this step.
Finally, you need to select a casino that you trust. There are a lot of good reviews out there, and there are a lot of people that use cryptocurrencies that have solid guidance in this area. If you’re unsure about where to start for casinos, feel free to check out the highlighted reviews.
That’s it! Getting start playing at a crypto casino is that simple. You will also be asked to register an email and a password at whichever casino you decide to use.
Why Play at a Crypto Casino?
A cryptocurrency-based casino will have all of the same games that you’re already used to playing. Do you love playing online slots? They will be at the crypto casino of your choice. You are not going to be sacrificing anything by making the switch.
There are a number of good reasons to play at a crypto casino rather than a traditional fiat based one. The first is cost. Because cryptocurrencies do not need to go through a middleman, like credit cards do, crypto casinos tend to have lower associated costs than cash casinos do. Credit card payments can be expensive to process, and a lot of the fees associated with deposits and withdrawals are minimized. The blockchain is public property, and that means that payment verification is a lot easier—and a lot cheaper—to utilize.
Another benefit of crypto casinos is that they are decentralized. In fact, this might be the biggest benefit that you’ll come across if you’re planning on gambling online. Because the casino relies on the blockchain, the decentralization of casinos benefits you in a number of different ways. You are far less likely to be scammed if you are gambling at a legitimate crypto casino. The blockchain forbids this from occurring. Also, the decentralization of gambling keeps data scattered over a huge network, meaning that no one site has access to your data. This keeps your money safe, and it ensures that every transaction between you and the casino has the highest level of security associated with it.
Random numbers can be more accurately utilized and policed in a crypto casino, too. That decentralization that’s mentioned above helps to ensure that your financial transactions are safe and secure, but it also ensures that the games you play are not rigged against you. The blockchain actually supplies you with proof that each and every game that you play is fair, if you want to investigate it. The governing bodies have complete access to this data and can rate casinos more accurately this way.
Finally, a cryptocurrency casino tends to have a higher level of anonymity than your fiat casinos do. This can be a good thing, depending on where you’re located and what your goals are for gambling. Not everyone benefits from this, but it is one of the main appeals of cryptocurrency in general, and it’s one of the benefits of playing at this type of casino.
Negatives of Playing at a Crypto Casino
There are a few negatives associated with playing at a crypto casino. For one, there’s a chance that you will lose money. That’s true of any type of casino, but the risk can be magnified at a crypto casino because of the nature of cryptocurrency. We’ve all heard about people using Bitcoin to buy things in the early days of the currency, only to find out a few years later that if they had held the currency, they would be millionaires. That risk still exists, although it’s not nearly as great. But losing $100 worth of a cryptocurrency today could be the equivalent of losing $1,000 in a few months.
There is also a chance that the specific game that you’re looking for isn’t there. If there’s a certain online slot that you enjoy, your favorite crypto casino might not have it. It all depends.
The other risks of crypto casinos are more related to owning cryptocurrencies themselves. For more information on choosing the right currency, keep reading.
Which Cryptocurrency is Best for Casino Use?
The major cryptocurrencies are accepted at most crypto casinos. This includes Bitcoin, Ethereum, Litecoin, and Dash, as well as a few others. But which one of these is the best for use at an online casino?
Obviously, the answer will be dependent on which casino you plan on using and what your goals are. Bitcoin tends to be the most popular of all of the cryptocurrencies out there, but because one unit has such a high value, it is falling out of favor with gamblers. Trying to decipher how much you are spending on a single wager is difficult when you are dealing with a tiny fraction of a number. For this reason, Ethereum is probably the best suited for gambling. Not only is it an easier unit to deal with, it also has been far more stable in terms of volatility than the other major currencies.
Should I Play at a Crypto Casino?
This is the big question that I’m hoping to have answered here. For many people looking to gamble online, the answer’s a big “YES!” For others, it’s not. It all really depends on your personal situation and what you’re looking for. Hopefully, I’ve given you the information that you need to make an informed decision on your own. If not, there are a lot of other good sites out there that can provide guidance. Better yet, check out a few of the major casinos themselves to learn more about creating an account and getting started. See which slot games and table games they offer, and then make your decision with more information on the specifics of the casinos that you are considering.
As always, be sure that you are following local laws and practicing good risk management skills. This is true of any sort of gambling, but it’s important that you follow all of the rules so that you don’t have to worry about anything other than getting the most fun and cash out of your cryptocurrency casino experience.