How playing at crypto casinos will come to take over traditional online casinos and why bitcoin gambling is here to stay.
You’ve probably heard of it, and wondered what exactly the ‘hoopla’ about bitcoin gambling is all about, why it’s become the preferred payment medium amongst players, how casinos ‘rushed’ to introduce new products and how its forever changed online gambling.
With bitcoin gambling projected to take an increasingly larger share of online casino activity, despite recent volatility in cryptocurrency markets, the question arises, what it’s appeal, where can one find crypto casinos to play and what offers and features can players expect?
Benefits of Bitcoin Gambling: solving online player dilemmas
The emergence of digital and decentralized currencies such as Bitcoins solved the immediate problem of anonymity amongst online gamblers. It is not regulated by the central banks of many countries. While also alleviating players having to provide personal information while using Bitcoins while gambling.
While there is no such thing as anonymity online, cryptocurrency provides a greater level of privacy than conventional payment systems found at many online casinos, many of whom are now also seeking to court bitcoin players.
The introduction of crypto casinos also solved the dilemma of many players previously being unable to register due to region restrictions, imposed by traditional internet casinos.
Safer Transactions
Cryptocurrencies run on blockchains and this proves to be a safe way to deposit and withdraw, with very little chance of manipulation. Many players utilize hardware wallets to store cryptocurrency, and providing this doesn’t get stolen, then stealing from a crypto gambler is incredibly difficult.
Moreover, Bitcoins provide several advantages over regular currency and traditional payment methods such as secure international transactions, easy deposits and withdrawals, lower fraud risks, quick payments, and zero transaction fees.
Speculating with bitcoin deposits and withdraws
Many such benefits are increasing the use of Bitcoins in the gambling industry and are anticipated to only continue no matter the value of bitcoin on exchanges as cunning players also seek to leverage future anticipated market movements.
That said if you upload deposits when the market is bearish and withdraw and hold until the market is bullish, then you can use this to your advantage.
Play-To-Earn Games: The New Trend In Gaming
One of the leading innovations in internet gambling in recent years is play-to-earn games, which combine aspects of traditional gaming and emerging digital technologies, such as the blockchain.
While traditional gaming require players to pay to play the game, and then spend lots of time ‘grinding’ and doing repetitive tasks within the game to advance or unlock prizes. Play to Earn games on the other hand allows players to transfer or sell these winnings, without being beholden to traditional online gaming companies, who have the implicit power to shut off or make changes whenever they feel like it.
Play-to-earn games in this way serve to ‘bring value players,’ allowing them rewards by way of in-game assets like crypto tokens, virtual land, avatars, weapons and other non-fungible tokens, or NFTs, by completing tasks, battling other players or progressing through various game levels.
Unlike traditional games, the decentralized nature of play-to-earn games lets players buy and transfer in-game assets to outside the game’s virtual world – which is probably why playing crypto casinos will become the way of the future and as they bypass the offerings of traditional online casinos
