Published Thursday, Mar. 12, 2020, 7:51 pm
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While digital currency is still being debated as a valid payment option in most countries worldwide, it has shown to be a good investment opportunity for the knowledgeable and a lucrative option for tech-savvy participants. The rise of cryptocurrency casinos is just another step in the evolution of this rising market.
With the rise of new crypto casinos, avid gamblers can use this opportunity to spend some of the crypto they have accumulated from different sources. Additionally, these online locations allow for payouts in either different crypto or national fiat currencies, allowing an easy flow of bets and wagers.
Finally, cryptocurrency is more anonymous than playing with national currency from your bank account. This allows for more relaxed enjoyment as you can’t be tracked or marked as a potential target because of your spending.
While some online casinos will accept obscure crypto options for a substantial fee, the largest and most secure platforms are usually only willing to accept the four major types. By using the largest and most widely traded crypto, you can get the same betting and gambling conditions as you would with fiat currency.
These Options are:
- Bitcoin
- Bitcoin Cash
- Litecoin
- Ethereum
Although the current prices of these currencies have been relatively stable lately, there is still some risk of volatility. Because of this, your gains and losses can be counted only in the currency you have employed, and not mixed with others.
This approach protects both you and the house from steep rises and falls in comparative value, and allows for a much more casual gaming experience.
Aside from the possibility to wager something different that regular money, gambling with cryptocurrency is a good way to ensure your anonymity and security. This is especially the case if you plan on wagering larger amounts or playing often.
Unlike regular casinos and especially physical locations, it will be impossible for other players to know who you are, where you come from, and how much money you have. For those who value their privacy, this is a valuable difference on its own.
For others, the main advantage will be accessibility. By using crypto you can have better control with your funds and your wallet, both physical and digital. Regardless of your location, you will always be able to play the same games and know exactly how much are you willing to bet every time.
Anonymity
Staying incognito is probably the core advantage of cryptocurrency. Even though many are publically using their digital wallets and don’t use this advantage actively, it is always possible. You don’t need to provide your name and information, only your wallet ID.
Although this feature is often criticized to allow for illegal interactions between people, this is not really the case when it comes to crypto casinos. These web places need to be registered and they will not allow for any immoral or illegal wagers to be made.
Security
Betting with your crypto wallet makes it virtually impossible for someone to endanger your cybersecurity. As there is no data available, the person hacking would need to know your ID and password without any other clues.
Additionally, if you are using a VPN, even hacking to the online casino itself, which would be an incredibly hard feat to accomplish, would have no security concerns for your data.
Finally, the fact that you don’t need to showcase your real name or information and can use an anonymous email means that no one can track you down or would notice how you use your money.
Global Access
Regardless of your location or platform used on your device, you will be able to play in an online crypto casino. While there are a few countries that frown on gambling, as your funds are packed in a blockchain and not inside a bank you will be able to play even if you are in the most restrictive of locations.
The largest online casinos offer access from Windows, Android, and the Apple operating systems for phones and computers (iOS and macOS). This means that almost every smartphone and tablet will be able to play some of your favorite games.
Most of the risks present with gambling in crypto are due to the volatility of the currency. The fact that unknown factors can influence a substantial jump or fall in the relative value means that you might win or lose more than you think when gambling this way.
While the large four currencies allowed by most casinos have stabilized in value, they still experience sporadic changes of up to 10%, which can be substantial for players who like to wager more.
Gamblers and betters not experienced in either cryptocurrency or online gambling are advised to gamble with smaller amounts than they are used to, as to compensate for this risk. Also, using a sign-in bonus will alleviate most of the issues, especially for novices.
Finally, all gamblers should avoid doggy websites as a general rule. Only used sites that are reviewed, tried, and tested, and which have all of the necessary documentation. Even though illegal gambling websites are constantly removed by authorities, some will always exist and you should never buy-in to a place you don’t trust.
Always use the benefits provided by betting companies and online casinos. The point of gambling is knowing your chances and using any edge that you might have, either against other players or against the house. Gambling should be a game, and winning a game requires both tactics and strategy.
Some crypto casinos will give up to 300% of your buy-in as a bonus to allow you to settle in and understand how the games are played. As there are hundreds of games and options where you can wager your money, you will need this edge.
Also, use all of the free spins and bonus games that you can find. These will prolong your game and reduce any stress that you might have about trying something new.
Gambling is supposed to be a game. It isn’t, and can never be, a viable way to regularly make money. While many do win and log-out with more on their balance than they started, in a game of chance you can’t expect luck to always be on your side.
You should always see gambling as entertainment and use the money you would spend on entertainment only. And, if you are lucky, use your winnings to treat yourself to something you might want but don’t need, make it a gift.
Reducing your stress is a good idea to save yourself from any type of addiction, or to spend the money that you need for something of higher priority. If you keep it fun you will always be winning, sometimes in money and other times in an evening well spent.
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