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Showing results for tags 'crypto casino'.

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  1. Non-Fungible Tokens, or NFTs, are decentralised, which means they get developed and can change ownership several times to many different people. The great thing about NFTs is that they have become the new way to invest, collect and earn, as they can be used with very few limitations. So many NFTs exist, and more are being produced daily as digital art, music, and various iGaming products. The big question is: Where are these digital assets being stored? And the answer is - On a blockchain, of course! The Blockchain is like a super-server, storing the digital assets, the development history, and every transaction in the form of connected blocks linked with digital chains. Due to its high level of transparency, it also exists in provably fair games, where players can check that their game results are fully automated and not manipulated by a human. Decentralised - Like cryptocurrencies? Both NFTs and cryptos exist in a virtual world, and yes, they are both decentralised; however, there are several differences between them: NFTs are virtual assets that are all unique with different values, whereas there is more than one Bitcoin, and they all look the same with the same market value. People buy NFTs to own digitally or as an investment to sell for profit. Cryptos are purchased, usually at a lower value and then sold again when the value increases to make a profit. NFTs are more likely to remain as digital assets and are generally used to purchase digital goods. However, cryptos are slowly becoming more like fiat currencies and can be used to buy everyday items - including pizza! NFTs can be purchased with cryptocurrencies, fiat money, or traded for another NFT. Each NFT's price differs, and due to the transparency of blockchain technology, the transaction history will forever be available to future buyers and sellers alike. NFTs in the iGaming Industry Because NFTs exist virtually, Game developers have integrated them through game accessories, tools, and avatars. At online casinos, gambling enthusiasts can purchase NFTs that range from slot-themed prizes to assets inspired by the casino house itself! A great way NFT integration exists in the iGaming industry is through reward systems like VIP access and loyalty programs. Loyal players can receive an NFT reward when playing specified games and interacting with certain promotions. NFTs have grown exponentially since 2020, and although some gamers might see it as an unnecessarily risky innovation, it has been under their noses for a very long time. Chris Gonsalves, the CEO of Web3 esports platform Community Gaming says: Although some gaming enthusiasts are sceptical about NFTs, the fact is that they have been buying and collecting them for years. Now NFTs appeal to a wider audience. Today, younger generations spend money to have them as collectables, whereas those who have been playing online games for a long time already spend cash on rare game pieces, skins, and accessories. The Future According To the Stats Undoubtedly, NFTs have entered the iGaming industry in full force. Players can expect the non-fungible token on most platforms with crypto games. Online casino customers can expect its growth in many different aspects and areas in the industry as it has become a trend to own virtual property over the last three or four years. MarketsandMarkets have estimated NFTs to increase to over $13 billion in value by 2027. To achieve this colossal increase, it would have to grow at 35% annually. As technology advances, online shopping, virtual gaming and virtual investments will continue as we move towards a technology-driven future, including NFTs. On a smaller scale, according to the Dapp Industry Report, in January 2023, NFTs saw the highest trading volumes since June 2022. The NFT market reached $946 million, a 38.5% increase from December. Ayvar Gabidullin, the Business Development Manager at Slotegrator, is excited for NFTs to keep expanding in the casino industry and has this to say about the future of NFTs: With online casinos often being early adopters when it comes to new tech and advances, it only makes sense that NFTs would become a part of how the industry functions. NFT Legalities NFTs are still the new kid on the block and, therefore, still unregulated. For now, you can buy an NFT and technically have no obligation to pay out as no regulations exist around this topic on owning a virtual online property. However, the European Union plans to regulate NFTs as they did with cryptocurrencies. Unfortunately, decentralised finances are closely watched as there are concerns surrounding money laundering and fraud. Because NFTs are stored and processed through blockchain technology, the privacy of the buyers and sellers is kept anonymous. This causes upheaval as transactions are untrackable due to the protection of cryptocurrency's privacy-enhanced technologies. NFTs are assets, and in the world of tangible assets, the profits from sales are taxable. For now, the profit from NFTs is tax-exempt, as no clear rule on this exists in any country or market. Conclusion The iGaming industry is always trying to keep up with trends and stay relevant, as with any business that wants to continue making money. NFTs have entered the online gaming world, but leaving them unregulated for much longer can cause chaos in the highly regulated and licensed community that is the online gambling industry. Markets worldwide must decide how best to regulate this new investment method before the regulation becomes irrelevant.
  2. With decades of experience in the online gambling industry, we have seen some incredible changes and innovations. Experiencing the evolution from simple table games to stunning video slots, the rise of live casino gaming and, eventually, the transition to blockchain gaming has been mindblowing. We even remember when the most significant decision you had to make was whether to make your first deposit when claiming a welcome bonus via a credit card or this crazy new development called a web wallet. One of the most impactful human creations since the internet is the blockchain. Without it, we would not have cryptocurrencies and the doors they have opened for new business opportunities and restriction-free international online gambling. Despite an increasing understanding and adoption of the blockchain and cryptocurrency, one sticking point for many ‘hodlers’ is the difference between decentralised cryptos and stablecoins. Join us as we explain the differences, discuss what separates them and lay out a guide for choosing the best option for your crypto-gambling needs. What is a Decentralised Token? When Satoshi Nakamoto first created the Bitcoin (BTC) concept, he aimed to give people back economic sovereignty. The idea was to create a new form of currency that existed solely on the blockchain. Any single government, corporation, or individual could not control this new cryptocurrency. Instead, those who chose crypto would determine its value, how it was used, and how it would be stored. It was the financial version of democracy where the idea of “for the people, by the people” would finally ring true. Holistically the concept he created is called Decentralised Finance (DeFi), of which decentralised tokens like Bitcoin are its units of measure. As anyone who has watched BTC's market fluctuations will know, the cornerstone of this type of coin is that its market value depends solely on the community's perception and its willingness to invest. This does, however, mean that Bitcoin prices are prone to wild spikes and drops as investors respond to scarcity scares, FOMO (fear of missing out – significantly when prices increase) and general market bias (interest rate hikes in the US cause BTC prices to rise as investors shift their cash from the dollar to crypto looking for a safe haven from rising costs). What is a Stablecoin? While a stablecoin also exists on the blockchain and is therefore defined as a cryptocurrency, it is the antithesis of Nakamoto’s plan for a self-governed economic system. Following fiat currencies’ footsteps, stablecoins have their market value linked to a real-world currency, precious minerals, or another tangible asset. One of the most well-known stablecoins is Tether (USDT) which has its value linked closely to the US dollar. When transacting online with USDT, you are guaranteed that 1 USDT will be worth $1, making it a far safer digital coin for day-to-day business than a decentralised token like BTC, which can change its value by hundreds of dollars in a few minutes. February 2023 also saw the first Euro-backed stablecoin hit the market. The European-facing stablecoin named Euro Coin (EUROC) aims to offer continental online businesses a functional digital currency that allows them to do business without concern for conversions between USD and EUR. Countries looking to create central bank digital currency (CBDC) versions of their fiat currency are using stablecoin technology. The plan is for many countries to introduce digital versions of their local currency to reduce the costs associated with minting, allow more opportunities for the unbanked, and improve overall transaction and processing speeds. How Do the Two Differ in Practical Terms? When determining which form of cryptocurrency is best suited for your needs, it is helpful to understand their polarising points. Here is how decentralised tokens and stablecoins differ from one another: Volatility: Bitcoin and other DeFi tokens are prone to significant swings in their values. This can make them challenging to use for gambling when looking to practice responsible, budget-driven gambling. Cost of Transacting: While DeFi and stablecoins are processed on the blockchain, current evaluations show stablecoin transactions are cheaper. According to a NASDAQ review: “Transactions using stablecoins can cost as little as a fraction of a penny, regardless of value, and are typically processed in a matter of seconds.” Transaction Speed: Given their limited scope, stablecoin transactions are faster than decentralised tokens. The faster speeds and lower costs make them an excellent starting point for new crypto gamblers. Token Liquidity: Decentralised tokens are traded far more frequently and, therefore, have higher liquidity. This makes them easier to convert into other cryptos or fiat currencies. Privacy and Anonymity: Nakamoto’s vision for a self-governed global crypto economy had user anonymity baked into its foundation, whereas stablecoins are run by corporations and banks and require full user identity disclosure when signing up. Financial Risk: Stablecoins are risk-averse due to their pegged values. It is the digital equivalent of putting money under your mattress. Freedom: At its core, Bitcoin is about freedom from government oversight and market manipulation. Decentralised currencies allow users to determine how they use their wealth. Market Adoption: Decentralised tokens have been available longer than stablecoins, so there is more opportunity to use them for entertainment and business. Secure Value: As the name suggests, Stablecoins provide users access to a digital currency with relatively stable market value, making it easy to manage and use for daily online transactions. Existing Ecosystems: Given the time invested in understanding, monetising, and protecting valuable coins like Bitcoin, the DeFi space offers an extensive suite of tools, wallets, services, and infrastructure aimed at making its use as easy and safe as possible. Once you have a clear picture of which coins offer you the tools and infrastructure you want, the next step is understanding your personal crypto needs. Choosing the Best Crypto for Your Needs To simplify everything we have covered so far, all digital financial tokens on the blockchain are cryptocurrencies. What separates decentralised tokens from stablecoins is whether a single entity owns them. When it comes to choosing the best crypto for online gambling, it comes to: Your appetite for risk – playing a decentralised coin like BTC comes with the risk of major market fluctuations. Cashing out crypto wins as the value per token increases is a bonus, but the opposite is also true. The size of your gambling budget – players with budget constraints might find stablecoins more appealing as the association with a fiat currency makes it easy to manage. How you want to use crypto – if gambling online is only one part of how you use crypto, you will be more likely to wager with DeFi. However, stablecoins might be best if you only buy tokens to play online. How tech-savvy you are – securing precious decentralised tokens means using multiple non-custodial wallets like Exodus or even investing in cold wallets (USB-type devices that store crypto offline). On the contrary, small amounts of stablecoin can be left in your casino account with little concern for their security. Your local regulations – many countries are still defining their online gambling and cryptocurrency laws. Choosing the right crypto-type and online gambling platform is essential when navigating these real-world regulations. We recommend reviewing these factors before choosing which type of token to invest in, as it will have a financial impact and require you to become familiar with new concepts and technologies. How to Choose the Best Crypto Casino! To help you get started in your crypto casino journey, we have handpicked three gambling sites that we recommend reading up on and joining if you like what you see. ✓Bitcoin Games Casino (5-star rated) Bitcoin Games is the official online casino of the marketing leading cryptocurrency Bitcoin. Signing up with this highly-rated crypto casino will give you access to over 2300 casino games, which you can enjoy on your desktop pc or mobile device. You will also be eligible for a welcome bonus of up to 1 BTC! DeFi Currencies: Bitcoin, Bitcoin Cash, Ethereum, XRP Ripple, Litecoin, XLM Stellar Stablecoins: Tether, BNB Binance Coin Visit the Bitcoin Games Casino page to read the full review and learn more about the bonus offer. ✓1xBit Casino (5-star rated) This Curacao-licensed crypto casino is incredibly popular with the GamblersPick community, garnering it a five-star review. The site features more than 2000 high-quality casino games, a total of 30 DeFi and stablecoins, and an incredible bonus of up to 7 BTC! DeFi Currencies: Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Litecoin, Dash and many more. Stablecoins: Tether, TrueUSD, USDCoin and more. Visit the 1xBit Casino page to read the full review and learn more about the bonus offer. ✓Kosmonaut Casino (5-star rated) Established in 2020, this beloved crypto gambling site offers players more than 2000 casino games, 6 crypto banking options and a lucrative bonus which comes with an additional 100 Free Spins. DeFi Currencies: Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Litecoin Stablecoins: Tether Visit the Kosmonaut Casino page to read the full review and learn more about the bonus offer. We take great pride in reviewing the best online casinos in the world and highlighting those that would make a great starting point for selecting where to join next. For more options, feel free to browse our full list of cryptocurrency casinos.
  3. When it comes to crypto gambling, there are many resources available to guide players on their journey. Here at GamblersPick, we have handy resources pertaining to the history of the crypto casino, how to gamble online with Bitcoin, and even one dedicated to Ethereum casinos and how they work. With the recent industry shakeup caused by the implosion of FTX, one of the most common questions we have been fielding from our community has been how to secure one’s portfolio best and protect it from being lost because of someone else’s bad decisions. To help our community begin their journey, we have highlighted some of the most common weaknesses in mass crypto hodling and outlined the steps you can take to secure your cryptocurrency for yourself. You Are Your Cryptos Best Security One of the challenges many first-time crypto buyers encounter is the false narrative that they need an exchange to secure their coinage. The essence of the crypto movement was that there is no need for intermediaries to secure your wealth for you – you control it so that you know how it is being used and by whom. As one crypto expert we interviewed noted: In this case, he was referring to the 12-word phrase (also known as a mnemonic) that acts as the master key to your crypto holding on the blockchain. Here is a quick self-assessment: If the answer to this simple question is "no", then your crypto is not as safe and secure as it needs to be. During the rest of this post, we will investigate why your holdings are not protected, how to secure them and which steps you can take next for total peace of mind. Why Custodial Wallets Are Risky We all understand that "custodial" relates to the "act of protecting or caring for". This is why when we say that a non-custodial wallet is the best option for securing your digital tokens, it sounds counter to what we are trying to achieve. What we are missing in this context is perspective. The perspective of the term “non-custodial” means that the duty protection does not sit with the company or platform you are using. Using a platform like Luno to store your crypto is not ideal because it is their platform, and you, therefore, abide by their rules. They are the custodians of your crypto. By making them the custodians, you relinquish control of your holding to them and need to abide by their rules. For example, activating the ability to send your Bitcoin to another wallet takes 24 hours with Luno. This means they can block you from managing your assets for one whole day if you need to do an urgent crypto transaction. Should a custodial wallet be shut down or go insolvent, there is a good chance you will lose your investment as they hold complete control over your wealth. How Do Non-Custodial Wallets Work? Even for non-tech savvy hodlers, the ideal solution is to store their Bitcoin, Ethereum, Litecoin, and any altcoins they have invested in with a non-custodial wallet like Exodus. As the name infers, these platforms offer users an easy interface for buying, selling, and even trading cryptocurrencies without taking control or having any power to restrict them from being accessed. The most important aspect of a non-custodial wallet is that it stores your crypto directly on the blockchain (to take advantage of its enhanced security features) and then gives you the encrypted 12-word key to ensure that only you can access them. Engaging directly with the blockchain is the best way to ensure your coins are safe and secure. With the master key to your blockchain account safely stored away, there is no chance of being hacked. Given that the 12-word phrase is literally the key to your crypto kingdom, there are rules to securing it: Write it down by hand and store it in a safe place. Do not take a photo of it and store it on your phone, computer, or cloud storage device. Do not share it with someone else. The most important of all is not to lose it. The blockchain is so secure that it cannot be hacked, even by the non-custodial wallet platform you use. This is the only key to your treasure vault; protect it well but always know where it is. BIP39 Is Your Best Friend As a savvy investor, you have probably wondered, “What happens if the non-custodial wallet closes up shop?” After all, you are still using their platform to access your crypto. If their site is gone, how do you access your coins? The answer to this excellent question is a blockchain security protocol known as BIP39. The Bitcoin Improvement Proposal number 39, or BIP39 for short, is the process by which your random 12-word key is generated from a list of 2048 unique words that make up the BIP code list. If your chosen non-custodial wallet ever shuts down, thanks to the BIP39 process, you can open another account elsewhere and use the BIP39 phrase to access your blockchain-based account via that new platform. Remember, a non-custodial wallet is just a digital waiter bringing you what you need. When that waiter isn't available, use the services of a new one. It is still your account on the blockchain, with your funds. The wallet is just an access point. Double Down for Peace of Mind You know how to balance risk with reward as a crypto casino player. One of the most common advice regarding securing your digital currencies is to have a minimum of two non-custodial wallets. Even though you can always access your blockchain account, having two accounts from the start will make it quicker and easier to access your funds and move them into another active platform should the need arise. Some wallets also tend to focus on core lists of coins, meaning you will need more than one wallet to diversify your holdings. The adage of not keeping all your eggs in one basket seems as essential in today’s digital landscape as it did when they spoke of literal eggs. With your favourite digital currencies safe and secure, all that is left for you to do is find the best Bitcoin online casinos to join. Each of the sites we recommend has been thoroughly vetted, offers incredible Bitcoin and altcoin bonuses and has a strong reputation for fair play.
  4. Since 2018, online gaming operators have focused on regulating Latin American territories. With opportunities currently only limited to Columbia and Mexico, all eyes are on the multiple other regions in the process of liberalising. Brazil makes up half of the total LATAM population and is understandably the most enticing market for the gambling industry to penetrate. So how will the approval of the crypto law in Brazil affect the growth of the LATAM gambling market? ✓Crypto Law Finally Approved in Brazil Now that the Chamber of Deputies in Brazil approved the cryptocurrency law project, it's eminent that it will significantly impact the growth of LATAM gambling. Local media reports that the discussion and passing of the crypto law was a rushed decision, with some claiming that the bill might find resistance with the unknown stance of the new government. This opinion is further supported by the approved bill leaving out two crucial factors - the planned tax exemptions on green mining and the asset segregation from company funds for Virtual Assets Service Providers (VASPs). The discussion and approval of the crypto law project were postponed several times over the past several months. It was finally approved after deputies voted to shed some of the changes presented by the Senate. ✓A Historic Matter Approving the crypto law in Brazil is an essential step towards the country's future. Current president Jair Bolsonaro was able to approve the law in a general form, providing the opportunity for more specific rules to be formulated later. This decision is in full support of deputy Expedito Netto, the rapporteur of the bill, who stated: "We are voting on a historical matter. Today, the country is ahead of others in regulating digital assets activity assets. Moreover, we have the support of the current and future government for the matter." He further recognised that the tax-related regulation should be defined as a separate matter in another bill. The asset segregation issue is another challenge, as it would force VASPs to separate customers' funds from their own funds. With the recent collapse of the leading crypto exchange FTX, many deputies support asset segregation to allow users to avoid loss of funds to occur in future. ✓Opposition From Anti-Segregators in Brazil With the anti-segregation side prevailing in some respects, brokerage firms and other companies might be limited to offering spot-based trading products. This opposition means that the regulation of the kind of warranties these firms should offer their users will be defined by the regulator on a case-by-case basis. According to Marcelo Castro, a lawyer in digital law, the passing of the bill establishes a base that will provide subsidies "for future infra-legal regulation". In addition, there will be oversight by a regulator appointed by the executive, which can be any specific institution such as the Central Bank of Brazil. The approval of the cryptocurrency law marks the starting phase. It is the first step in regulating VASPs and other crypto companies, including online crypto gambling platforms. However, to avoid getting ahead of ourselves, many analysts believe this bill's passing is only the initial phase of this regulation. They expect that applying the law and implementing specific rules will follow in the coming years. ✓LATAM - The Most Appealing Gambling Market There may have been a significant lag since the launch in 2016 of Columbia's regulated iGaming market, but other territories are following suit. With the enormous size of the potentially untapped market, operators are eager to penetrate the unaddressed regions that are particularly appealing for the iGaming industry. In our guide to the LATAM Gambling Market in 2022 and Beyond, we take a closer look at the opinions of the four highest-populated countries in South America. Betting on offshore internet sports sites is legal in Mexico, and no laws prohibit Mexican citizens from joining these sportsbooks. While countries like Colombia are fully regulated, others such as Brazil, Argentina and Chile are still working with operators and regulators to create legal frameworks. Read more about how gamblers in Brazil, Columbia, Argentina, and Chile feel about gambling in the article linked above. Significantly, Latin Americans agree that online gambling would be less harmful and more appealing with adopting regulation. Across all four of these territories, gamblers called for stricter and safer gambling regulations and guidelines. Cryptocurrencies' legal implementation will address and resolve most of these safety concerns. ✓Gambling Industry in Brazil - The Sleeping Giant The addressable market size makes Brazil particularly appealing to the iGaming industry. The United Nations estimates the current South American population at 439,429,359. With a population of over 215 million, Brazil makes up half of the total LATAM population. Moreover, Brazil is one of the five countries with the highest population in the world and is often referred to as the "sleeping giant in the gambling industry". Almost all gambling activities, deemed to be "games of chance", have been prohibited in Brazil since 1941. The only acceptance is lotteries under the state monopoly and horse-racing wagering. Poker was declared legal in May of 2022 as it was deemed a “game of skill, not chance”. With the approval of the crypto law in Brazil, it may be one step closer to developing and finalising gambling regulation for its citizens. Despite the significant lag since Colombia's regulated igaming market launch in 2016, other countries, including Brazil, are catching up. ✓A Territorial Perspective Each territory in South America is at a different stage of gambling regulatory development. However, there is no doubt that the legalisation of cryptos in Brazil will have a massive impact on the growth of the overall LATAM gambling market. Despite the volatile nature of this digital currency, online crypto gambling is on the rise worldwide. Multiple territories in South America are in the process of liberalising and regulating the gambling market. The aim is to provide a secure and regulated iGaming platform. This regulated market will attract LATAM gamblers to register with licensed and legal operators instead of risking their hard-earned money on the black gambling market. ✓Time To Act Naturally, multiple operators and suppliers have been tracking opportunities. They are positioning themselves to take full advantage of this developing opportunity. Forming partnerships with international operators and snapping up established native brands for local know-how are all crucial factors that can ensure a successful roll-out in LATAM. They believe that the time for the industry to act is now. With the approval of the cryptocurrency law in Brazil, the regulation of VASPs and other companies that use crypto in the country is now open. A regulator appointed by the executives will oversee operations. The new crypto law may take a few years to have any practical effect. Nevertheless, with crypto gambling on the rise worldwide, the recent approval of the crypto law in Brazil will likely fast track to being a fully regulated legal online gambling territory.
  5. When something seems foreign or complicated, or even just different from the mainstream, people tend to start rumours as they try to understand the unusual subject. These rumours often grow because other parties spread them, leading to damaging myths. The cryptocurrency industry fell prey to many tales with questionable origins and sources that do not hold expert credentials. Because of various events in the decentralised finance market, it has been easy for bystanders to accept various reports as facts. However, upon closer investigation, we discover these are nothing but rumours spread by misinformation. Let's jump in and bust some myths about cryptocurrency. Tongues Wagging Although cryptocurrency has been around for more than a decade, it only recently caught the attention of the masses and a few unfortunate events fuelled false information. Crypto technology is complicated and takes some tech know-how to understand. Because uninformed consumers showed interest in the decentralised finance (DeFi) market, opportunists tried, and in some cases succeeded, to pull the wool over people's eyes. These scammers duped people and caused vicious rumours about the industry. Fortunately, the crypto industry is much bigger than these isolated events, and the truth about DeFi is much brighter than rumours will have us believe. ✓ Myth #1 Cryptocurrency Transactions are Completely Anonymous If cryptocurrency transactions were completely anonymous, it would raise tremendous concerns for anti-money laundering and other anti-crime regulations in the financial sector. Full anonymity is as much a security threat as a lack of proper security protocols is, if not more. The blockchain technology used for cryptocurrency creation leaves a trail of information on a digital ledger. Along with the ledger records, crypto accounts require certain identification information when users sign up for an account. These are like standard KYC requirements when signing up for other digital financial accounts and include identity documents, proof of address information, and more personal details. The anonymity everyone raves about comes in with transacting. Crypto transfers from one platform to another offer anonymity because the account holder does not have to give their name and bank account details. This feature makes it an attractive option for online gamblers who worry about exposing their sensitive information. ✓ Myth #2 Bitcoin and Blockchain are One and the Same Some use cryptocurrency and blockchain interchangeably, but this is an incorrect way to refer to Bitcoin and other crypto coins. Here are a few definitions to clarify the relationship between cryptocurrency and blockchain. Blockchain: Technology that works on a decentralised digital ledger of peer-to-peer networks allowing network participants to confirm transactions. Blockchain transactions cover more than cryptocurrencies and describe how data is processed and stored. Cryptocurrency: Today, there are thousands of cryptocurrencies, and these digital or virtual currencies are secured by cryptography built on blockchains. This means it is nearly impossible to make counterfeit coins and most argue that the decentralised nature of cryptocurrency renders it immune to government interference or manipulation. Bitcoin: This was the original cryptocurrency that started it all. Since its launch in 2009, thousands of other cryptocurrencies have joined the decentralised finance market. Today, many digital coins are used for purchasing goods, while others remain a means of storing wealth. As explained above, Bitcoin and blockchain are different because Bitcoin is merely one of the results of blockchain technology. Blockchain offers an array of applications, and iGaming providers use it to provide provably casino games and more. ✓ Myth #3 Cryptocurrency is a Bubble Bound to Pop Referring to DeFi as a bubble means exuberant market behaviour that is bound to crash drives the value of crypto. Economic bubbles include fast inflation followed by swift drops in value, all happening over a relatively short period. The major characteristic of a bubble is that it pops, and the critics who still believe cryptocurrency is a bubble have been waiting for this to happen for over a decade. In reality, cryptocurrencies have experienced countless ups and downs, with Bitcoin having the longest history on the market with the biggest spikes and drops. However, crypto market values are highly volatile, and many consider any investment in digital coins speculative. Other investment professionals ascribe the oscillations of Bitcoin and other DeFi coins to the natural circumstances of a young market. Crash games like Bustabit and Space XY came to be thanks to those who enjoy the exhilarating thrill of stock markets. These games portray the spike of a bullish market, and players need to cash out before the tides turn to a bear market drop. Stock markets have always experienced rising, and crashing curves and the crypto market is no different. ✓ Myth #4 There is No Real-World Use for Crypto Because cryptocurrency exists in the digital world, many find it hard to conceive where DeFi has a place in the physical world. This concept has many believing the myth that digital coins have no real-world uses. Digital coins have trade value in some areas of the real world, but the challenge lies with which coin you choose and what you want to get in return. One Bitcoin has an extremely high value, $20,005 at the time of writing, making it difficult to purchase everyday consumables. On the other hand, countless coins with much lower market values and those pegged to fiat currency, like Tether USD and Binance USD, carry similar values to the Dollar. This has allowed service providers to accept digital coins as payment for products and services rendered. Another key aspect of digital coins is their immunity to inflation which makes some coins akin to commodities like gold. Therefore, individuals and companies have funnelled millions of dollars into Bitcoin and other cryptocurrencies to store assets. A recent addition to online gambling is crypto casinos, allowing players to deposit and withdraw cryptocurrency. ✓ Myth #5 Crypto Trading is Akin to Gambling Some critics refer to crypto trading as gambling because of the major fluctuations experienced in the market. As mentioned above, this is a natural occurrence with immature markets, and the influx of coins and stakeholders will settle at some point. Most gambling games are driven by chance, and smart gamblers play the odds. When people compare crypto trading to gambling, they might have a point that a bear market may be lurking, but it is not entirely true. Games of chance rely on random number generators to determine the outcome and trigger a win, and stock markets are far more complex and much less random. Adding cryptocurrency to your investment portfolio would mean taking a high-risk approach, but crypto trading would be more in-line with a game of skilled gambling than a slot machine. ✓ Myth #6 Some Coins have Carbon-Intensive Footprints Some members of society have massive influence, and by some, we mean Elon Musk. As the face and voice of Tesla and Space-X, the billionaire has the attention of the masses, and when he made a U-turn on his offer to accept Bitcoin for Tesla purchases, his followers paid attention. According to Musk, executives at Tesla, and environmentalists, mining Bitcoin and other digital currencies place too much stress on the electricity grid. Because digital currency is mined online and requires computer hardware for storage, the argument stands that cryptocurrency has a very high carbon footprint. The trouble with this argument is that traditional finance (TradFi) is the only current option to pay for goods and services. The electricity required in TradFi transactions requires far more carbon-intensive processes. Recent studies concluded that DeFi mining and storing is much more power efficient and environmentally friendly than gold mining and traditional banking, which includes physically printing currency. According to the Cambridge Bitcoin Electricity Consumption Index, Bitcoin mining relies greatly on alternative energy sources like solar, wind and hydro. ✓ Myth #7 Cryptocurrency is for Criminals and Anarchic Folk Another myth that keeps weary consumers away from cryptocurrency is that criminals use it for laundering money and funding crime. Others say that only conspiracy theorists who believe in coming anarchy invest in crypto. Both theories have holes, and when debated with logical facts, they crumble. The first assumption comes from the misconception that crypto traders and investors are 100% anonymous, which we addressed above. Unfortunately, there are opportunists in every part of the financial market, and invariably some criminals use whatever means they have access to for their schemes and plots. Fortunately, statistics support that many more prefer fiat currency for their dubious deeds, and even on the dark web, a fraction of the financial crimes are in cryptocurrency. As for the idea that digital currencies are only attractive to those who believe a future involving Mad Max vibes is imminent, current adoption rates crush this thought. Industry experts advise that the current rate at which consumers buy into crypto exceeds the adoption rate of the internet in its early years. The question we should rather ask is how quickly it will become mainstream. Focusing on Facts and the Future Perhaps these bring you closer to understanding what cryptocurrency is and what the future looks like with digital currency. With consumer adoption rates rising and more world leaders speaking about regulating crypto, it is clear that it is here to stay. Once we figure out how to use it to our everyday advantage, the rest will be history.
  6. The world of gambling and online casinos has long been at the forefront of adapting to new technology as it develops. Crypto gambling and the blockchain were no different. One of the largest industries that run on the blockchain is NFTs. Creating, selling, and purchasing NFTs has become all the rage, but could they work for casino games? NFTS (non-fungible tokens) are images, music, in-game items and artwork that consist of digital data stored in a blockchain. These digital assets can be sold and traded by the owner for large sums of cash. Due to their massive popularity (and rather steep pricing,) the chance to win NFTs while playing an online slot or casino game is something that piques the interest of many gamblers. But how would it work? The Problem with NFT Casino Games The issue faced by software providers attempting to create NFT slots is that the games are simply not sustainable. NFTs are designed to be unique entities owned by a single person and stored on the blockchain. If a popular slot machine at a mainstream casino starts to draw many big winners, the provider would have to release more and more NFTs as payment. This would eventually dilute the value of the NFTs, and the game would become pointless. Currently, online slot providers are attempting to dip their toes into the blockchain pool. They're doing so by mimicking NFT stylings and using well-known NFTs as symbols (such as Paradise Trippies). One of the latest games to hit the Metaverse is Lucky Degens. This game lets players win real NFTs from the Lucky Crypto collection. Players can get their hands on OG Lucky Degen NFTs and any new collections that are set to be released in the future. There are also Free Spins, bonuses, and $LUCKY token crypto up for grabs. The only real issue with this game is that it is not available at mainstream online casinos. This means you'll need to be a true Metaverse-dwelling crypto user to even get a chance to play. Could ZOGI Labs Have the Answer? ZOGI Labs has designed a new game that is all about multi-player fun with the potential to earn crypto – designed for "non-crypto people". In their in-depth white paper, ZOGI Labs outlined how they've created a game that works for every aspect of gameplay and for every type of player. The aim of Legends of Bezogia is to make crypto, the blockchain and DeFi ecosystems as accessible as possible for everyone. Players can sign up for free, craft weapons, fight their foes, and take on a series of quests – all while earning MBLK. Magical Blocks (MBLK) are an ERC20 utility token on the Ethereum network and also act as the in-game currency found while playing Legends of Bezogia. That means real cryptocurrency can be earned and mined while playing an MMORPG in a fun, fantasy world. But how would this work for online casino games? Legends of Bezogia runs on the following core mechanics. Some of these could be adapted to work for online gambling if done correctly. Minting Summoning Renting Staking Exchange Virtual Real Estate Let's look at what the most relevant mechanics could do for Online Slots and casino games. About NFT Slots – Our Hypothesis Considering the way online slots run and the features they tend to offer, we think there are a few of the mechanics mentioned above that could work for online casino games. For instance, the summoning mechanic works on the ability to collect Bezogi (another form of in-game crypto) and use them to summon creatures at will. An online slot could use this feature and instead allow players to collect small amounts of crypto as they play (perhaps for unlocking achievements), and this crypto can then be exchanged for free spins or multipliers. In Legends of Bezogia, exchanges are done at marketplaces and pawn shops. Again, this could easily be adapted to suit the world of online casinos, where marketplaces could be established in order to purchase bonus games or special NFT rewards. Giving players the ability to post a reward they've won while spinning the reels of a slot in exchange for crypto means that players can interact and be a part of a living ecosystem. It also means that players who enjoy completing rewards collections could do so. One main feature of playing Legends of Bezogia is that they aim to keep players rewarded. This should be a standard for online casino games too, especially those on the blockchain. Whether via a special feature, a mini-game, or a game that plays completely differently from the slot being enjoyed, winning crypto should be a constant. Even small prizes such as tiny amounts of Satoshi could keep players engaged for longer. It appears that the only way to make NFT slots work is to reward players in many ways and leave the NFTs as the ultimate jackpot prize. This way, NFTs can be released only as required while also building a community of players who enjoy the game's entire experience, rather than just the main prize.
  7. Many compare investment trading with gambling, and for good reason. The stock markets can be treacherous, even on a good day, and this is truer with crypto investments. Since the first digital coin launched in 2009, decentralised currencies have exploded, and investors now have over 10,000 options in this market. So many jumped on the hyped-up bandwagon of Bitcoin that tech wizards Bill Markus and Jackson Palmer set out to create a spoof coin to poke fun at the wildly speculative investment. Much to their surprise, Dogecoin experienced massive success in its first three weeks, spawning countless other meme coins. Since Dogecoin's arrival in 2013, many altcoins joined the digital currency race, and many failed. On the other hand, Shiba Inu seems promising, and as a self-declared Doge-killer, we must inspect how the top two meme coins measure up. Meme Coins and Investment Those familiar with Decentralised Finance (DeFi) may know meme coins and understand what it is about, but to some, the concept remains foreign. If you are wondering, the name explains it all. These altcoins have images of popular memes as their logo. The creators of Dogecoin claimed the most meme-worthy dog as its symbol, hence the name. Doge memes include a quirky photo of the Japanese dog breed, Shiba Inu, with a collection of rainbow-coloured sayings like "such wow", "very concern", and more comical dog language. Following the success of Dogecoin, the crypto market now has a horde of dog-themed coins. Like other altcoins, meme coins bring scalable options to the cryptocurrency market, a feature lacking in Bitcoin. Meme coins also rely heavily on community activity and therefore need viral results to thrive. This makes it an extremely volatile investment space, and experts on either side of the fence agree investors should only buy crypto stock with money they can afford to lose. Dogecoin vs Shiba Inu As the most talked-about investment opportunities in the meme coin category are Shiba Inu and Dogecoin, we weigh the two against each other. Below, we explore key similarities and differences between the two dog meme coins and uncover the core traits of each. Then we compare them in the investment space to discover the best bet for those who want to gamble on meme coins. Similarities and Differences The most basic feature these two coins share is the animal on their logo. Both Dogecoin and Shiba Inu flaunt an image of the adorable breed behind the viral memes from the 2010s. The only difference is that the original meme coin has a cartoon version of the dog, and its rival has a modern pop-culture image of a Shiba Inu. With recognising the coins in the stock market, the logos are irrelevant. These coins trade as DOGE and SHIB, respectively. Another feature these coins share is the intention of being a peer-to-peer payment network. This means that, unlike Bitcoin, these coins have no central authority, corporate structure, or executives making crucial decisions that affect the entire network. Instead, these coins are entirely community-led. This may be where some want to take a step back and question the reliability of investments, but like all other reputable coins, the blockchain ledger is available to the public and bears the same immutable qualities. The peer-to-peer network impacts market value and causes major fluctuations, making meme coins a bad choice for novice investors. Dogecoin and Shiba Inu both fork from larger blockchain models. Although the former came into being as a satirical response to Bitcoin investments, DOGE ironically enough, forks from Litecoin which originally forked from Bitcoin. Shiba Inu runs on a different chain, namely Ethereum, which many see as an advantage. This technicality means the coins have reliable infrastructure, and both networks come with their pros and cons. ✓ Dogecoin Originally launched in 2013, Doge enjoyed huge success thanks to virality. As mentioned, the creators of Doge were making fun of the speculative nature of cryptocurrency investments, but thanks to the community in the Doge network, it reached exciting heights in the initial phase. Seems like the tech world has an appetite for humour, as the comedic meme coin reached 300% growth in its first couple of weeks of trading. Experts believe this happened because it was a very appealing way to enter the crypto market without breaking the bank. The consumer-focused approach of the new breed of altcoins attracted new investors, and soon, Doge was a genuine alternative to existing coins, like Bitcoin. Because Doge uses a similar Proof of Work (PoW) consensus mechanism as Litecoin called Scrypt (pronounced es-crypt), the currency is less energy-intensive and quicker than Bitcoin. Dogecoin has several celebrities backing it, and Elon Musk called it 'the peoples crypto' on Twitter, triggering enormous growth for Doge and other meme coins. Thanks to the low price of the coin, in stark contrast to Bitcoin, anyone can invest in Doge. Industry experts warn potential investors should be cautious when doing so. Labelled as the 'fun and friendly internet currency', Doge experiences sporadic rate changes on the stock market. At the time of writing, 1 Doge was worth $0.063. This open-source, peer-to-peer digital currency offers users a couple of advantages, like the speed of transactions. Thanks to the Scrypt algorithm, Doge creates blocks much faster than other value storage cryptocurrencies, and it is a lot more scalable than Bitcoin. The estimated time for the creation of a block is 1 minute, while Bitcoin takes 10 minutes. ✓ Shiba Inu Compared to Doge, Shib is an infant in the trading market. Created to mimic the surprising success of the original meme coin, Shiba Inu arrived on the scene in 2020. There is no reason to speculate on the inspiration behind this meme coin as the coin's creator labelled it as 'the Dogecoin killer'. While both Doge and Shib rely on community engagement and major hype from it, Shib presents its users with interesting options. Shiba Inu operates on the Ethereum blockchain, giving it an edge that Doge lacks. Apart from the community platform known as Shiba Swap, where members can trade their coins for others, Shiba users can choose from three cryptos with different applications. SHIB is the basic currency used as a medium of exchange. LEASH is a limited token; only 107,647 are available, which are used as staking rewards for those validating the currency. Lastly, investors can purchase some of the 250 million BONE coins available, which allow its owners to vote on governance proposals. Shib experienced massive growth in 2021, much like Doge, but we must point out that 1 coin is worth $0.00001017 at the time of writing. Regardless, for an investor, percentages matter and considering the 3500% gain within the first couple of days of trading, Shib is an attractive choice for traders. The low price makes it an easy option for those who want to experiment in the crypto space without losing too much if they're out of luck. Unlike Doge, Shib has no celebrity endorsements as yet. If you believe that all publicity is good publicity, we could argue that the coin burning indaba, where Ethereum's Vitalik Buterin irrevocably destroyed approximately 40% of all issued Shib and shunned the coin, was a PR stunt. It is safe to say that Shib enjoys success thanks to Doge, and only time will tell which becomes the victor. Should You Gamble on Meme Coins? As mentioned, high-risk investment trades are a gamble, and the risk is so much more with cryptocurrency markets. The truth about meme coins is that you need to understand what can topple a good trading day and stay on top of community interactions. Like with gambling, you should only use the money on crypto and meme coin investments if you can afford to lose that money. Once you understand that, there are a few things to consider before deciding on where to lay your stake. How do Doge and Shiba compare on the stock market, and which is the best choice for investors right now? What does the future hold for these dog coins? DOGE vs SHIB? Basic economics comes down to supply and demand. The relationship between these two variables determines the value of an asset, and most altcoins come with a capped supply. Doge is an exception to this rule, as the creators stuck to an authentic peer-to-peer payment system by utilising an inflationary mechanism. This helps prevent investors from holding onto massive chunks of the token and keeps costs low in the long run. Doge has a supply rate of approximately 5 billion coins a year. With a 9-year history on the market, one would think Doge has more solid backing from investors, but despite impressive gains here and there, experts remind us that meme coins have no real precedent for how their value can change. Bursts of huge gains seem to be short-lived with Doge, and it is an extremely volatile space to play in. Shib gradually clawed its way up the market ladder in the two years of its existence. It launched at a value lower than $0.00000001 because the creators needed to leave room for significant growth. Following on the coattails of Doge's remarkable gains in 2021, Shib increased in value to $0.0000036, showing a 3500% gain on investors' books. The Doge-killer reached an all-time high in October 2021 of $0.0000826, but as we pointed out, it has dropped significantly since then. Choices, Choices Considering the hype around these altcoins and how it impacts the coin's values, it is best to approach with caution when investing in meme coins. Both show promise, as Doge has been around for nearly a decade, and Shiba offers innovative options for its community. However, investors need to keep their fingers on the pulse with these communities to beat the curves. Remember that meme coins are high-risk investments, and neither Doge nor Shiba bears a 'safe investment' label. Considering the stability and track record of Doge, it may be a less risky option for investors, but Shiba has a few tricks up its sleeve that makes it a potentially good choice for growth.
  8. As lifelong fans of gambling and in particular online gambling it is fantastic to see how many countries are adopting a positive stance towards the hobby. Even if a region does not currently allow local licensing and advertising opportunities, they tend to adopt a ‘no harm, no foul’ approach which allows players to gamble at offshore casinos without any legislative requirements. In a 2021 review of the legal online gambling landscape Slotegrator reported that gambling regulation falls into one of four distinct categories: Those where gambling websites must be licensed by the local regulator (32 countries) Those where only local gaming sites need a license, not foreign sites (32 Countries) Those where online gambling is prohibited, but no legal action is taken against play at foreign sites (28 countries) Those where there are no gambling restrictions at all (93 countries) When looking at the European Union in the context of these categories is becomes clear that the majority of the member states have adopted or are investigating a multi-license regime. ✓EU Free Trade Supports Gambling Regulation For those who are unfamiliar with how the European Union works simply put it is an agreement between 27 member countries that make up most of continental Europe that aim to promote economic and political unity. As a response to the devastating impact of World War 2 on Europe, the European Economic Community (EEC) was created in 1958 to foster financial dependencies. The logic being that when countries are reliant on one another for trade the likelihood of aggression declines. According to a report by the EU Commission in 2021 “82% of products traded in the Single Market are subject to harmonised rules and some 18% of intra-EU trade in goods fall under mutual recognition”. Given that the EU free trade agreement is such a pivotal part of the makeup and longevity of the Union, online gambling became a hotly debated topic as the UK, who was still a member of the EU at the time, promoted full regulation and licensing and expected to be able to trade with its partners. Jurisdictional legislators such as Malta became highly respected markets who expected EU member states to recognise the validity of an MGA licensed casino to trade within the Union. Members that stood against regulated online gambling were seen to be contradicting the compact, and this early friction ultimately led to a burgeoning European online gambling industry. ✓EGBA Striving for Standardised Regulation As with any other multi-party endeavour one of the challenges members of the EU have had to face is how their differing definitions, requirements and even fee structures have become stumbling blocks for their peers. To assist in creating a unified logic to regulation and a set of standards the Brussels-based European Gaming and Betting Association (EGBA) was founded. “EGBA works together with national and EU regulatory authorities and other stakeholders towards a well-regulated and well-channelled online gambling market which provides a high level of consumer protection and takes into account the realities of the internet and online consumer demand.” To achieve a sustainable online gambling regime the EGBA strives to: Achieve a well-regulated and competitive market Define an ambitious set of European industry standards Build an integrity-based betting market Address betting-related match-fixing and corruption In addition to creating forums for discourse and staying on top of the day-to-day minutiae associated with tracking the gambling rulings and legislative decision making of 27 member countries the EGBA is also a founding partner of the EU Athletes program, a member of the International Betting Integrity Association (IBIA) and registered with the EU Transparency register since 2009. A July 2021 decision by the EU Commission to not reinstate the Expert Group on Online Gambling to assist regulators in coordinating their legal efforts could see the EGBA having an even more authoritative voice as it fills the role that the Commission renounced. ✓The French Gambling Legislation Interestingly enough when looking at online gambling regulation it is important not to interchange online gambling and online casino, especially if you are looking to play online slots in France. While many gambling sites will say that online casino is legal in France, they are in fact incorrect, however, it is correct to say that online gambling is legal in the country. This is because in 2010 France had a massive overhaul of its gambling law which both created the current body known as the Autorité Nationale des Jeux (ANJ) and legalised all forms of land-based gambling including casino games, card games, and sports betting. However, in an unexpected turn of events when addressing online gambling the regulation only made allowance for the licensing of online poker and online sports betting, while online games of chance remained a restricted category. ✓An Avid Gambling Community Despite the exclusion of online slots and other casino games, online gambling has flourished in France with La Française des Jeux (FDJ) being responsible for betting and lottery games, while Pari Mutuel Urbain (PMU) is specifically responsible for horse racing. The Q2 2021 report by BusinessWire on the financial results of the FDJ reported that the “digitalised and online stakes” showed an impressive 70% growth over its Q1 results reaching €1.1 billion in revenue from stakes of €9.2 billion. Stéphane Pallez, Chairwoman and CEO of FDJ, said: “Our stakes are increasing, both online and in our point-of-sale network. Over the half-year, we accordingly recorded an increase of nearly 9% in revenue compared with the same period in 2019. Barring new restrictions in response to developments in the health situation, the Group expects to maintain good momentum in the second half and is confident in its business and results prospects in accordance with its responsible gaming model.” These reports show that the FDJ’s online performance is tracking perfectly for the body to achieve its target of €2.2 billion for the year. Market analysts expect this to come from just over €19 billion in stakes. However, the growth in both player stakes and overall revenue for France’s online gambling market has raised the question of whether their reasoning for excluding online gambling was genuine. When the regulations were announced in 2010 ARJEL argued that games of chance held too high a risk of gambling addiction. That games like slot machines encouraged high engagement and participation, something they then claimed to be looking to actively discourage. However, with the €9.2 billion in stakes over six months it proves French gamblers are an engaged and active community. Despite numerous calls in recent years for other EU member states to open their borders to regulated online gambling, to protect locals and actively participate in the free trade compact France has silently refused to budge on the issue, deflecting the conversation around casino games to a discussion of regulated online gambling instead. In a decision that further confuses the matter, France declared that its citizens may gamble at international offshore casinos. Yet this puts them at risk of playing with casinos who do not adhere to EU safer gambling standards, reduces channelisation by not offering a casino game option for slots players, and driving revenues offshore which could be funnelled into programs that would uplift the French community such education programs and compulsive disorder treatment centres. ✓The Bitcoin Casino Stumbling Block France is one of the most progressive nations in the world and as such has been at the forefront of cryptocurrency adoption. The French are proud HODLERs with nearly 4% of the population owning Bitcoin, Ethereum and other digital tokens. Unsurprisingly the lion’s share of this ownership sits with wealthy, tech-savvy men and women in their late mid-twenties to mid-thirties. It should come as no surprise then that in the absence of regulation making online casino gambling illegal a large portion of the French casino market is turning to Bitcoin casinos. Not only do they get to engage in leading online slots and tables games, but they stand the chance to withdraw even more of the valuable cryptocurrency in the process. However, July 13th saw a Parisian court rule that French ISPs had to block local users from accessing two cryptocurrency gambling sites. The ruling came of the back of a decision to hand over cryptocurrency regulations to Autorité des Marchés Financiers (AMF), a securities watchdog with a specific brief to manage digital currency exchanges in the region. In this case while the casino games themselves were not the issue the ability to buy and sell cryptocurrencies in an unregulated marketplace saw the AMF flex its muscle and once again limit French players access to online casino entertainment. Once again, sane minds argue that if France would extend its current online gambling legislation to include online casino games, they could offer local players access to a secure crypto-exchange and secure a valuable revenue resource in the process.
  9. A few short years ago no one in the world understood what digital currency was let alone how it would one day change the world. Yet today discussions around Bitcoin price hikes, Dogecoin as a meme token, the impact of cryptocurrency mining on both graphic card prices and the environment are dinner table chatter around the world. As an industry where speed of processing, data security and the potential for large financial transactions are central to its day to day running the online gambling market has been heavily invested in the development of blockchain technology and the adoption of cryptocurrencies. In this article, we will delve into what separates an online casino from a cryptocurrency casino. Are there tangible benefits? What are the challenges? Can you legally gamble using cryptocurrency and what games can you enjoy? Online Casino vs Crypto Casino – The Provably Fair Difference In recent years, the line between a blockchain casino and a casino that accepts cryptocurrency payments such as Bitcoin has blurred the definition of what a “crypto casino” is. There is an increasing number of online casinos that have begun accepting deposits and will honour withdrawals via your cryptocurrency wallet. Allowing you to gamble at their casino with credits purchased via Bitcoin, Ethereum or whichever token they accept. However, a true crypto casino does far more than just trade Bitcoin for casino credits. These casinos operate on the blockchain themselves. Their websites, their games, your personal information and ultimately your wagers are placed directly on the blockchain meaning it is all protected by the most advanced encryption platform known today. With the unique hash records available when processing transactions on the blockchain, the same technology used to verify Bitcoin transactions, you can track the validity of the outcome of each game you play at a crypto casino. This system of Provably Fair gaming puts the power to review every hand of blackjack, every spin of the reels and every roll of the dice in Craps and verify that the outcome you were shown is true and unaltered by any third party interference. A great example of this Bitcoin.com which now offers casino games on its platform, that is as close the source as one can hope to get when gambling with BTC. Advantages of Crypto Gambling – Count the Cost In any scenario where you are investing your time and money, both precious commodities, we always recommend looking at the facts and making a reasoned decision from there. The advantages of crypto casinos are: Unparalleled security – Given the virtually impenetrable nature of the blockchain it offers gamblers unprecedented levels of privacy and data protection. Less intrusive experience – When transacting via the blockchain the code behind your wallet is what is needed to complete a transaction. In this case gambling at a true crypto casino will require very little personal information from you to sign up and no additional KYC documentation when you cash out. Transactional transparency – The peer to peer nature of the blockchain ensures that you have a full view of who you send money to and receive it from, as well as giving you access to Provably Fair reviews of the individual games you play. Growing selection of licensed casinos – As Bitcoin continues to pave the way for mainstream adoption of cryptocurrencies so more regulated markets are beginning to accept cryptocurrencies. This ensures you all the benefits of virtual currency gambling with the support of player-centric gambling authorities. Superior banking options – The low costs, advanced security and unmatched processing speeds of cryptocurrencies make them the superior option when transacting online. However, as more casinos accept Bitcoin and other virtual currencies you still have access to web wallets and credit card transactions if you want them. Better payout percentages – With the low cost of operating an online casino on the blockchain and other revenue generation models for operators that include using the power of gambling transactions to mine for tokens blockchain casinos can offer overall payout percentages of up to 99%. This is far better than 93% to 97% offered by traditional online casinos. Casino game selection – Gambling on the blockchain no longer limits you to playing special blockchain games with poor graphics and limited animations. The world’s leading developers like Big Time Gaming now develop for the blockchain offering great casino games for true crypto casinos. Accessing traditional online casinos which transact in Bitcoin means you have access to award-winning slots and live dealer games from providers like Evolution and Netent. When it comes to shifting your online gambling from a known and trusted online casino to a new crypto casino it is worth digging into the pros and cons of the move and making a decision based on a balanced review of the facts and your personal needs. Choosing a Crypto Casino – Hot Button Items When discussing crypto-based casinos with our community and finding out from them what their most important selection criteria were for choosing a new online casino the following points were the most common across the board: Can I trust the casino to pay me? Will they find excuses to delay my payment? How safe is my information? Do they offer good bonuses? When it comes to finding a trustworthy online casino to play at the addition of cryptocurrencies to a casino is in fact an extraordinarily strong trust cue. With the total transparency and Provable Fair nature of the blockchain, these casinos are more exposed to their players than any traditional online casino. When you consider that you can also play at a regulated casino in Bitcoin you have added another layer of security as now have a safe technology platform and a stringent gaming authority both protecting you. The speed with which you can withdraw your winnings has always been a hot topic for online gamblers. Looking at the FAQs of leading cryptocurrency casinos like Bitstarz, BitCasino and Bitcoin Games Casino they all offer instant withdrawals. The protection of your personal and financial information is of paramount importance to all reputable online casinos. In this case, it becomes a matter of degrees; online casinos are as secure as banks when they utilise 128-bit SSL encryption but the blockchain is objectively the superior encryption method and so blockchain-based casinos will always be the safer option. At their core, the types of bonuses you receive at online casinos and cryptocurrency casinos will be the same either deposit match offers, free bonus credits or free spins. However, you may find the wagering requirements less stringent at crypto sites and their overall payout percentages higher which could mean you stand to withdraw more at a crypto casino on paper, but only Lady Luck knows where those chips will fall. Licensing and Regulation – Does it Matter for Crypto? No matter what your preferred gambling platform is, even when playing offline, there is no substitute for the peace of mind that gambling under a globally recognised regulator brings. They are far more than just a marketing watchdog that rakes in licensing fees. These gaming authorities ensure that operators have sufficient funds to pay your withdrawals, manage national safe gambling programs, require license holders to have their business practices reviewed by third-party auditors and work with law enforcement to shut down illegal operations. Adding the technology-based protections inherent to the blockchain to this substantial jurisdictional protection ensures that you have the safest and potentially profitable online gambling experience possible. In Conclusion With the advancements made in the online gambling services available on the blockchain, it is a good time to see if at the very least your current online casino accounts offer the option to transact in Bitcoin or other cryptocurrencies. If you live in a regulated gambling market that has approved Bitcoin gambling it is worth adding the added protection provided by the blockchain to the security you already experience under your current legislation. Cryptocurrencies are growing in mainstream adoption so getting to grips with this technical and financial phenomenon through a medium you already enjoy, online gambling, is an easy way to luddite to crypto-pro!
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