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6 Facts About Crypto Casinos That You Never Heard Before

28 July 2022 11:45, UTC

A crypto casino may seem like an all-too-futuristic version of your local real-life casino, especially if you’ve never dabbled in the booming world of cryptocurrency. The truth is, however, that any crypto casino you may encounter is far from anything to be intimidated by. In fact, they’re becoming increasingly popular, with many people switching from the more traditional fiat casino to the ever-increasing crypto casino option.

Part of the reasons why many people are switching to crypto casinos is that these casinos are not regulated by any government, and are completely decentralized, which means nobody controls the games or the odds. They rely completely on random number generators to create the odds, which is a good thing for gamblers as they know these casinos can never cheat in any way.

Crypto casinos work in pretty much the same way as normal online casinos (also known as fiat casinos). Essentially, gamblers wanting to join a crypto casino just need to buy their own cryptocurrency and create a crypto wallet to store it in. Then, like any other online fiat casino, they create an account on the crypto casino site using their cryptocurrency and then proceed to make deposits and withdrawals from their crypto wallet whenever they want to play a certain game or take their winnings.

It’s quite a straightforward process with little to no issues. While this process may be widely known knowledge, let’s look at some other interesting points and facts about crypto casinos that aren’t as widely known.

Crypto Casinos Provide an Anonymous Betting Experience

Because crypto casinos are completely deregulated and decentralized, there is no requirement to provide any personal details or data to the website, and there are never any transactional links to a player's identity. This can be a huge benefit for players who may be in a highly regulated environment.

Crypto Casinos Have Lower Fees

Something that may be surprising to some, but crypto casinos do indeed charge less for transactions than traditional casinos. This is because crypto gambling providers are constantly looking for the lowest cryptocurrency exchange rates so they can make gambling more affordable to everyone. Some bitcoin casinos won’t even charge a fee when you transfer bitcoin to your bitcoin wallet.

Crypto Casinos Offer 24/7 Customer Service

Crypto casinos take their customer service very seriously and are available around the clock for any issues or queries a player may have. They’re completely digital, which means that anyone can contact them in a myriad of ways and receive the help they need.

Crypto Casinos are Safe and Secure

Technology has done an incredible job at enhancing security measures across the board, especially when it comes to online assets. However, it is still possible for accounts to be hacked. When you use Bitcoin at a crypto casino, however, you can conduct transactions with more protection against hacking. This is because Blockchain technology is one of the safest and most secure ways to conduct any online transaction. When you use this technology, it becomes impossible to alter or manipulate any of the transactions that are processed. Also, as mentioned above, crypto casinos keep players anonymous, which also increases security.

The First Crypto Casino Launched in 2012

Inspired by the mysterious creator of Bitcoin, Satoshi Nakamoto, the first crypto casino was called SatoshiDice and launched in 2012, three years after Bitcoin hit the internet. It was the first casino to implement Bitcoin payments, as well as to feature the famous Satoshi dice game. Although it was shut down one year after its inception, it paved the way for what is now a largely successful and popular form of online gambling.

Crypto Casinos are Not Only Exclusive

Hybrid casinos are also becoming more popular, with many online casinos opting to follow the winds of change and begin accepting both fiat currencies as well as cryptocurrencies. These casinos don’t only accept Bitcoin, but they are also known to accept other forms of cryptocurrencies like Ethereum, Litecoin, and Ripple, to name a few.

Crypto casinos are going to continue to rise in popularity and users, with experts predicting these casinos will provide a completely new way to take part in online gambling, making it more accessible for players all over the world, and much safer than traditional fiat casino models. As these casinos continue to see growth, more and more crypto casinos will begin to appear. This will mean more competition, which will inevitably be a good thing for players as there will be more options to choose from as well as more deals and promotions on offer.

As you learn more about crypto casinos, keep an open mind to keep learning and growing in your knowledge of the industry.