A Crypto casino is a digital gambling platform that operates on blockchain technology and enables users to play casino games using cryptocurrencies as their primary form of currency. Unlike traditional online casinos that rely purely on fiat currencies, crypto casinos also accept digital assets such as Bitcoin, Ethereum, or Litecoin for deposits, withdrawals, and wagering. These platforms provide a decentralised and transparent environment, ensuring fairness and security through smart contracts and cryptographic algorithms. With the growing popularity of cryptocurrencies, crypto casinos offer an alternative and innovative way for players to enjoy a wide range of traditional and modern casino games while leveraging the benefits of blockchain technology. We're pleased to welcome you to our Crytpo casino page, where we will share our knowledge and recommend the best crypto casinos to play at.
why a crypto casino is different to a regular casino
One of the big selling points of the earliest crypto-based casinos was the integration of fairness-checking routines. The same technology that powers cryptocurrencies can also be used to ensure the fairness of an odds-based gambling game. The site can give you the "seed" before your round begins, and once you know the outcome of that round, you can plug both things into an equation that will then prove the fairness of your previous spin, hand, or round.
There are other differences between regular online casinos, too; some cryptocurrency-based online casinos do not require the same KYC checks as traditional online casinos, as they are not currently regulated in the same way. This can be a double-edged sword; however, if the site you are playing with is not licensed and regulated to offer its games in your territory, you may run into trouble if something goes wrong and you need help to resolve the situation.
Withdrawing at a crypto-based online casino can be much faster and easier than some other sites, depending on the method that you prefer to use and the country that you are living in. If gambling is unregulated in your region, such as in some states of the US, then crypto-based casinos might be an option you can utilise to skirt such restrictions. Unfortunately, however, if you want to play at a trustworthy crypto casino, you may find that they will not accept players from restricted jurisdictions anyway.
Many of the latest crypto-based casinos have very few differences compared to regular online casinos. Still, there are several specific cases and situations where the ability to play without having to convert your cryptocurrency into fiat currency before playing could be advantageous.
the history of crypto casinos
The earliest cryptocurrency casinos did not have a license to offer the same games you might find at a typical online casino, such as those created by the likes of NetEnt,Microgaming, and Pragmatic Play. Instead, these sites offered bespoke gambling games that were usually very simple and based purely on logic and math.
These early casino-like websites are still available for those only interested in taking a risk for the chance to earn additional cryptocurrency and can live without the attractive graphics and colours of your typical first-tier online slot. Such experiences are definitely not for everyone, however; can you imagine your favourite slot being replaced by nothing but rows of numbers that change immediately each time you click "bet"?That was the reality of sites such as "Megadice", which offered a simple game with a 98% RTP whereby you would pick a number between 1 and 99. Next, choose higher or lower; the odds you would receive were based entirely on the math; choosing 50 would give you perfect 50/50 odds – hitting a zero, or a 100 would result in a loss.
Once cryptocurrency became more firmly established around 2017-18, real casino companies began to pay attention to the emerging trend. A handful of existing online casinos started to accept cryptocurrency deposits in addition to regular payments in Euros, Pounds, or Dollars. Still, the most significant development was the launch of many brand-new online casinos that accepted cryptocurrency whilst hosting the best slots and table games from established software houses.
Today, a good mix of gambling services accept cryptocurrency deposits, including casinos, sportsbooks, bingo sites, and poker rooms. The market is incredibly volatile, and one bitcoin today (OCT 2022) is worth roughly 60% of what it was a year ago. Because of this, many people still consider holding cryptocurrency to be a gamble all by itself.
why play at a crytpo casino
When crypto-based casinos first launched, there were numerous advantages of playing with these sites compared to regular online casinos. Some of those benefits have been watered down or invalidated due to restrictions and regulations. However, depending on your country of residence, there may still be several good reasons to choose a crypto-based casino over an online casino accepting fiat currency payments, such as:
Privacy – Many crypto-based online casinos do not require the same level of KYC as a regular casino, allowing you to avoid the stigma that sometimes comes with being a gambler. Some banks will use your gambling habits as a factor in their decision-making, which seems entirely unfair to us; buying Bitcoin and doing your gambling using that allows you to make these transactions without your bank's knowledge.
Security – Provided that you are clued up on storing and utilising your cryptocurrency, these technologies are one of the most fraud-resistant means of sending and receiving the money you can access on the web. Suppose a hacker manages to access your casino accounts. In that case, they may be able to deposit using your existing payment methods, such as a debit card or PayPal, before withdrawing to another payment method of their own. This is impossible at crypto-based casinos, where the deposit and withdrawal mechanisms are much more secure.
Cost – Depending on how you choose to deposit and withdraw, a significant cost could be involved in performing these transactions. This is rarely the case when it comes to crypto-based payments. There is still a cost involved with processing a transaction, however, as the miners (processors) of the network need to be paid for their services. In almost every case, however, using a cryptocurrency to deposit and withdraw will be cheaper than using a credit card, check, or traditional e-wallet.
Fairness Guaranteed – In many cases, the "seed" of the forthcoming round is displayed on the screen before you make your bet. In some cases, these seeds are even taken from the blockchain, ensuring they cannot be tampered with after they have been presented to you. Once your round has been completed, you can compare the results with the initial seed to determine whether you received a fair game. The technical details of this mechanism are outside the scope of this article, but if you have ever been concerned that an online casino was not giving you a fair game, this one advantage, in particular, ought to be of special importance to you.
Speed – When it comes to making a withdrawal, crypto-based online casinos will usually send your funds immediately after you hit the withdrawal button. The transaction is immediately visible on the blockchain, and the funds are available in your wallet as soon as your receiving wallet is happy that the network has confirmed the transaction.
crypto casino final thoughts
As cryptocurrencies are becoming more popular worldwide, it makes sense that we are seeing more and more online casinos being created to cater for this type of currency and the player that likes to use it. As with all casino play online, though, the tricky part is finding a brand to play at that you trust and one that has all of the latest and most popular games in its lobby. This is, of course, why we are here, and with our recommendations in this article, if you want to head over and try a crypto casino, you can do so in complete and utter confidence.