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For a number of years, bitcoin was a covered in a veil of mystery, confined to the areas of dark web. However, during the last few years, bitcoin, together with other cryptocurrencies that came after it, has finally managed to enter the mainstream economy and find its place among ordinary people.
One of the first industries to pick up on this and actually help Bitcoin's rise to prominence, was, online gambling industry, with a number of cryptocurrency casinos opening all over the internet.
Like more traditional online casinos, cryptocurrency casinos allowed players to enjoy slots and table games, but they also made it possible to deposit, withdraw, and even play using cryptocurrency instead of standard, fiat currencies.
Cryptocurrency and bitcoin casinos are, for the most part, just the same as regular, older casinos. They offer various games, bonuses, VIP programs, and pretty much anything you’d expect to find. The only important difference is that they allow you to deposit and withdraw using your bitcoin or other cryptocurrency wallet.
When talking about cryptocurrency casinos, there are two major types out there: hybrid online casinos and full-fledged cryptocurrency casinos.
With hybrid casinos, players are allowed to deposit and withdraw with cryptocurrencies, but money is always converted. For example, if you have an account in EUR, once you deposit in bitcoins, whatever you deposit will be converted to the main account currency. Likewise, once you withdraw using a bitcoin wallet, your EUR amount will be converted to bitcoins according to the current rate.
With full cryptocurrency casinos, however, there is no conversion. Players are allowed to deposit and keep their balance in bitcoins or any other accepted cryptocurrency. Usually, the casino will feature two different parts – one for regular play with fiat currency and the other for cryptocurrency play. Initially, cryptocurrency casinos used to offer a somewhat limited selection of games, but as of late, the difference has become almost negligible.
Contrary to the popular belief, cryptocurrency aren’t just for people playing from restricted jurisdictions. In fact, many of these casinos are fully licensed operators not accepting players from regions where online gambling isn’t allowed. Instead, these sites simply offer an alternative for people looking for higher levels of privacy and perhaps wanting to keep their online gambling bankroll completely separate.
