In the last years many new ideas have entered the market and some of them were pretty innovative if not to say revolutionary. These new inventions have also changed the market and pushed new hypes. Not only have new ideas like cryptocurrencies changed the world, of course also the worldwide pandemic did its part in it. Due to the restrictions many people have started to find ways to entertain themselves at home as they cannot go outside and go to bars or casinos like they used to do before the corona pandemic.
One thing that has been already existing before the pandemic but has grown immensely within the last two years are online casinos. The appearance of the cryptocurrencies like Bitcoin and Ethereum has sparked a huge change in the gaming and gambling industry. Online casinos have started to offer cryptos as payment methods and many online casinos which are entirely focused on cryptocurrencies have popped up in the last few years.
To find the best online crypto casinos there are many guides and reviews like Bitstarz Review on Casino.Guide that one can check to learn more about the best online crypto casinos. There has been a significant rise of online crypto casinos, but are they really the new hype of 2021?
What Are Crypto Casinos?
First things first! For those who are not familiar with the term ‘crypto casino’, we have to explain first what it means. Crypto casinos are basically online casino platforms that accept cryptocurrencies as payment methods. These casinos offer all kinds of different games and services for gamblers who are looking for a way to transact in cryptocurrency instead of fiat currency. Often these casinos als provide traditional casino games like roulette. Furthermore these casinos also offer other great gambling opportunities like sport bets and online lottery.
So one can actually say that crypto casinos are not much different from normal casinos. One big difference is that these online crypto casinos offer their own crypto wallet for their users in which they can store their Bitcoins and other crypto coins. So before one can place a bet, it is necessary to fill up your wallet with coins. Subsequently one can place bets from their own wallet, and just like at any other online casino, you will win or lose, depending on if you hit the right combo or not.
In case of a win your gains will be sent to your wallet so you can keep on gambling. If you want to get a payout, you have the option to transfer your wins from your own wallet on the casino platform to your private bank or crypto account. It must be said though that many online crypto have strict limits on withdrawing the coins from the platform’s wallet to their own private account in order to keep you gambling.
So now we have figured out what crypto casinos are and how they work. But why are they so popular and what advantages do they have compared to conventional casinos?
Why is there such a hype about Crypto Casinos?
There are lots of reasons why crypto casinos are so popular these days. One of the most important reasons is that crypot casinos are very private and secure. The crypto casinos feature a great deal of anonymity, security and private transactions which are impossible to track and extremely fast. Furthermore the cryptos enable gamblers to bypass third parties like big banks or other intermediaries which also improves the speed and safety of the whole process.
Once one is familiar with cryptocurrencies like Litecoin, the transferring is as easy as any other online transaction that users may have been used to before. As there is no need to give any sensitive information such as private address, ID documents or banking information, which adds to the safety as well.
This in particular is very important as gamblers have suffered from fraud and stolen identities at online casinos for a while.
At crypto casinos gamblers are safer than ever before. All you need is basically a functional VPN, a burner email and a safe password and you can start to explore crypto casinos with
maximum privacy and no fear of data theft.
More control and oversight
Another reason that speaks for crypto casinos is that they offer a greater deal of control about the process. The crypto casinos mostly give more control to the player over their own funds.
If you play at an online crypto casino that is specialized on one specific coin like Bitcoin for instance, all payments will be done with that coin which saves time and protects the player from the delays of conventional monetary systems. The blockchain technology which the cryptocurrencies are based on enables an extremely quick and transparent process without players having to pay extra fees for transactions or other hidden features.
Better Bonuses and no local restrictions
Furthermore the crypto casinos mosty offer great and exciting bonuses one can win while playing. Every provider has different offers but mostly the bonuses one can win are multi-deposits bonuses, matching deposit bonuses or free spins at the slot machine. Additionally the entire idea of cryptocurrencies is a decentralized system.
That means that also crypto casinos do not have to follow local restrictions. This enables the casinos to give greater bonuses and develop further without borders and gives them a major advantage compared to conventional casinos which mostly suffer under governmental restrictions and gambling regulations, while still ensuring security and privacy.
All in all it can be said that online crypto casinos are definitely not as bad as many may think.
Of course there are many different providers with different policies. Some of the crypto casino platforms may not be the yellow of the egg and may not welcome players with great bonuses or even attach a bunch of annoying restrictions and limitations to the chances of winning or the amount one can withdraw.
Generally though crypto casinos offer major advantages to the players compared to conventional casinos and may be the perfect solution many online gamblers have waited for so long.
Disclaimer. This is a contributed post. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Cryptopolitan.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.