Cryptocurrency Casinos – The New iGaming Gold Standard
Last year, the global crypto market got valued at $4.67 billion, and expectations are that it will keep growing at a rate of 12.5% in the next seven years, despite the price of Bitcoin dropping 60% in 2022. Even though the blockchain sphere recently experienced a dramatic fall and various newsworthy scandals, industry expectations are that the increasing adoption of this ledger technology should propel the cryptocurrency market’s growth. And one sector that is standing firm behind digital coins is the crypto currency casino landscape.
Cryptocurrency casinos appeared on the Web two years after the debut of the world’s initial form of virtual money, and they found a niche with fans of the provably fair gaming genre and card gambling fanatics. Since 2014, crypto casinos with reputable regulator licenses got birthed, and these platforms are now all the rage, taking a massive chunk of the fiat gambling user pool. That is so for multiple reasons, with the chief ones getting outlined below.
What Defines a Crypto Casino?
It is the acceptance of virtual cash as a fiat money equivalent. That is all. A crypto casino found on sites like cryptocasinos.net is nothing more than an internet gambling hub where users can find digital coins as a feasible deposit option in its cashier tab. And they can withdraw their winnings in cryptocurrencies also. That is the defining characteristic of cryptocurrency casinos. Though, it should get said that the term Bitcoin casino often gets used to delineate any gaming platform that allows virtual money, not only the initial and most dominant market coin. That is so because the popularity of Bitcoin is so vast that much of the mainstream public views it as synonymous with all cryptos.
Naturally, most cryptocurrency casinos usually share other common traits, aside from coin allowance, and those get analyzed in many of the subheadings that follow.
Super Swift Registration
An online gambler can join the ranks of most cryptocurrency casinos in seconds. That is so because the majority of these sites allow sign-up through social media credentials. Therefore, if a game of chance maven is willing to share the info they have already provided to communication networks like Facebook and Twitter, they can become a member of a crypto casino in less than ten seconds.
Those that wish to go down a more traditional registration route at their chosen Bitcoin casino app can complete a simple form that asks for their email and a username/password, plus click on a verifying link sent to their inbox. That is all.
Cryptocurrency Casino Fast Transactions
One of the main benefits of using a cryptocurrency casino to gamble is that withdrawals at these websites get processed in minutes. And in some cases, seconds, depending on the chosen crypto. For example, Bitcoin transfers usually take around forty minutes to finish, while Solana ones go through in less than fifteen seconds. That is lightning fast compared to the fastest fiat option, e-wallets, as these methods (digital wallets) process payments in around a day or two at even the top-brand gaming hubs. Furthermore, the dispersive nature of blockchain technology adds an extra security layer concerning digital coin transactions, leaving gamblers to rest easy that prying third parties will intercept or tamper with their transfers. They only need to obtain a trusted wallet and ensure they always provide and send funds to accurate addresses.
Creative Bonus Deals
As a rule of thumb, no crypto casino can have enough bonuses. Thankfully, most managers of Bitcoin casinos know that one of the essential factors in gamblers selecting one brand over its competition is the number of promotions it offers. Thus, in general, crypto casinos feature far more promos than standard gaming platforms. These consist of deposit matches (welcome and reload), free spins, cashback, loyalty schemes, plus crypto-exclusive deals like mystery chests, chat rain, free faucets, and staking opportunities. The latter are investing schemes that some Bitcoin casino hubs list, where users lock a portion of the funds in their balance for a designated period in exchange for a dividend of the profit the operator attained during this time.
Stunningly Vast Game Portfolios
Since virtually 90% of the cryptocurrency casino apps get licensed and overseen by Curacao regulators, that allows these hubs to have staggeringly robust game libraries composed of several thousands of titles. That is possible because Curacao’s four master licensors have far laxer licensing criteria than European country-specific regulatory bodies, and most of their operators work with up to a hundred game providers. So, on crypto casino sites, gamblers can find modern slots, RNG and live table games, video poker, bingo, keno, instant scratchers, arcade-like shooters, and provably fair classics like dice and crash.
Global Acceptance & Gaming in Secret at Bitcoin Casinos
While a sizeable number of Bitcoin casinos do have credible gaming licenses from renowned offshore organizations like Panama’s Gaming Control Board or Curacao eGaming, the truth is that some also operate with no regulatory oversight. That primarily holds for platforms that only house provably fair games and have been around since the inception of this section of the online gambling sector. These have a faithful clientele and such a quality reputation that most new players never even think that not getting their winnings at these crypto casinos is even a possibility. Due to their unlicensed nature, they accept everyone from everywhere. Licensed sites operating out of South America or the Caribbean have a small list of restricted regions and customarily allow gamblers from 100+ nations to join.
Unregulated sites have no anti-money-laundering measures, permitting anonymous gambling for all, while betting in secret is a thing at many cryptocurrency casino hubs for low to medium-rollers if these platforms invoke KYC checks for withdrawal requests above specific sizeable amounts, such as those above 1 BTC. KYC, also known as Know Your Customer is an identity verification procedure that mandates that all gamblers prove that they are who they say they are to stop the rise of online financial crimes. These processes are the bane of most internet casino players’ existence, and most fans of online gaming seek to avoid the hassles they bring.