You probably already know that there are a lot of trends that appear with the purpose of redefining and redesigning gambling in the gambling industry. And the latest hot topic that millions of people talk about is Blockchain and how well crypto fits into the online gambling industry.
There’s no denying that most trends in the gambling industry are by-products of continuous technological evolutions and the requirement to satisfy the customers. Many platforms welcome with open arms the newest technological trends and advancements as they want to stay relevant to the gamblers.
Currently, one of the technologies that have been integrated into the online gambling industry is Blockchain. And it seems like cryptocurrency casinos are taking the world by storm and turning the gambling industry upside down.
Out of all forms of currency, bitcoin is by far the most popular one. With that said, some of the leading bitcoin advantages are:
- High security and privacy
- Low to zero transaction fees
- It is decentralized
While gambling online with bitcoin in the US isn’t legal by itself, there are more general laws stating prohibitions of online gambling as a whole.
Regardless, the main concern that players should have is picking the safest casino sites possible. Meaning you should only gamble on licensed sites that are well known and have a good reputation.
With that being said, if you are interested in protecting your data while having a blast playing your favorite games, you can find some of the best US online gambling sites at bestcasinosites.net.
The Impact of Crypto in the Online Gambling Industry
It goes without saying that 2020 has been quite a year for crypto users as bitcoin’s value was at its peak. IN 2017, Bitcoin made a lot of noise for being valued at around 20,000 US dollars. But, last year, Bitcoin surpassed that amount.
Today, Bitcoin is valued at over 38,000 US dollars, and Bitcoin might be ready to break $40,000. With that said, the crypto technological advancement has most definitely opened floodgates of opportunities to every individual and industry that dives in.
There are countless reasons behind the growing popularity of crypto casinos due to the advantages and potentials it brings to the table.
It can be said that crypto and online casinos go hand in hand with each other. More innovations like mobile technology are popularizing online gambling as they offer a more convenient and accessible way of betting and playing games.
Additionally, crypto gambling offers a handful of unique attributes that simply can not be found across other ordinary currencies. One thing that can’t go unnoticed is that the world is slowly moving from coin and paper money and embracing digital technology.
Crypto Casinos vs. Online Casinos
Undoubtedly, among all forms of internet-based business, online casinos have been, by far, one of the quickest adaptors of cryptocurrency. Due to the enormous interest in Crypto these days, you may feel like your life has been bombarded by all kinds of information, and that can be a bit overwhelming.
With that said, the first thing you should know is the difference between crypto casinos and other online casinos.
For example, if you ever played using conventional currency, you probably noticed that it takes anything from a couple of hours to a week to process your withdrawals. However, crypto cashouts are instant.
Additionally, using bank accounts will most of the time require verification of identity before you can play, while gambling with crypto is entirely anonymous since your identity is never linked to any transaction.
Last but certainly not least, crypto casinos have tax benefits that are the most important to players, especially to high rollers. Due to their decentralized nature, they are free from the oversight of banks and other financial institutions.
Guide to Gambling with Cryptocurrencies
If you are interested in hopping on the latest technological trend, there are some simple steps you need to follow before playing your favorite games.
The first step you must take if you want to play casino games in cryptocurrency is to open a crypto wallet. There are dozens of digital wallets available on the market right now. So simply register for an account, and you will get a digital address that is tied to your account.
The next thing you need to do is buy coins with traditional currency. Just select the type of coin you want to purchase, and you will have a funded account.
The third thing you should do is read reviews of sites that allow you to gamble with crypto and pick one. After that, you should make a real money deposit. Now you are ready to have fun and play.