Why Casinos Prefer Cryptocurrency as a Payment Method

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Why Casinos Prefer Cryptocurrency as a Payment Method

The Historical Development of Cryptocurrencies

You may wonder what the main reason for the development of cryptocurrencies is. Are there any guesses? The reason for the exceptional cryptocurrency invasion is the fast and rapid development of the Internet. That’s one of the most important reasons why Bitcoin was introduced in 2009. We can say, it was a turning point in all of human history. Surely, Bitcoin’s developer Satoshi Nakamoto made one of the greatest modern inventions.

Internet technologies experienced rapid growth. Thanks to this, we can enjoy the latest benefits. It concerns both cryptocurrencies and cryptocurrency casinos development.

The Rise of Cryptocurrency Casinos

Unmistakably, online casinos became somewhat popular due to the development of Internet technologies. They were first introduced in the crazy 1990s. It was a vital period of IT technologies development. Also, what are the main facts regarding online gambling casinos? Here, we can highlight a few critical periods:

  1. Antigua and Barbuda allowed the traditional online casinos in 1994. It was the first country in the world that legitimized gambling
  2. The same year, Microgaming introduced original software for online gaming.
  3. The first real money online gambling platform was introduced in 1996.
  4. By the beginning of the 2000s, online gambling generated $2.2 billion. This amount increased to $21 billion by 2008.
  5. In 2013, the amount of money generated by gambling on mobile devices was more than $10 billion.

It can be noticed that both crypto and online casino had nearly the same path of development. They were the alternatives that simplified everyday life. For each gambler at an online casino cryptocurrency technology has provided a perfect way for anonymous payments. At the same time, online casinos replaced the original type of gambling. These two industries are driven by novelties. Blockchain and online gaming are highly beneficial for those who want to increase their wealth. While accepting crypto is the first step of the process of online gambling being reshaped by the innovative technology, the emergence of blockchain casinos would be the next one. These gaming platforms will be totally transparent and way more secure than regular ones.

Benefits of Online Casinos and Cryptocurrencies

We assume you see a connection between these two phenomena. Are you surprised? These two industries developed with the growth of the Internet so it is difficult to deny that for each online casino cryptocurrency tech opens a real prospect. They both have lots of benefits and essential advantages. We want to highlight the most important in the form of the short list. So, the benefits of cryptocurrencies are as follows:

  • Perhaps the strongest advantage is that it’s impossible to counterfeit crypto coins. Security is the main reason for cryptocurrency existing.
  • All cryptocurrencies are available anywhere in the world. You can trade or mine crypto if you have access to the Internet. That’s all, no special skills or knowledge are required.
  • It’s easier to make a crypto transaction. That’s because such deals are immediate. The person receives the money much sooner compared to currencies.
  • Crypto traders are highly protected against identity theft. The privacy feature is highly appreciated by millions of people around the globe. The fundamental point of all cryptocurrencies is absolute personal anonymity.

Benefits of online casinos are as follows:

  • It’s more comfortable to gamble at online casinos. There’s no need to go anywhere. You can play any game right at your home.
  • Many online casinos give the players the possibility to play for free. Players consider the game and then gamble for real money.
  • Gamblers have access to diversified types of payments.
  • There’s an option to play on many different online casinos. Having many online casinos to choose from helps to define which is the best for personal use.

Why Crypto Gambling Is so Beneficial?

The process of crypto gambling is much more straightforward than playing for traditional money. We’ve already talked about this, and it’s true both for online players and new crypto casinos.

  • Governments don’t treat cryptocurrency as traditional money. Let’s imagine the following situation. You live in a country where online gambling for real money is strictly forbidden. The players are not able to pay with their credit cards or Paypal accounts. Nevertheless, they can effortlessly pay with crypto.
  • Are you the owner of a small Bitcoin amount? There’s not much use transferring it into the real money. For an online casino, cryptocurrencies are the perfect payment method for a variety of reasons, so you can play for them and significantly increase your money.
  • There’s no need to wait for a long time. Crypto payments are instant. Stop waiting until your deposit or withdrawal will be processed!
  • As a rule, casinos accepting Bitcoin and other altcoins have a wider variety of bonuses and money-making promotions.
  • Many casinos accepting cryptocurrency use Provably Fair. That’s an algorithm allowing for the checking of the fairness of each game played.

The Perfect Match Between Online Casinos and Cryptocurrencies

Cryptocurrency casino allows gamblers to experience quick, protected, and more legitimate gambling. These are the main reasons to choose cryptocurrencies. It should be mentioned that your chances of winning are more significant because there’s no need to pay fees. It’s a lifetime rule. What can we say in the end? That’s one thing. Cryptocurrencies and online casinos are indivisible industries.

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