The Rise Of Crypto Casinos

Cryptocurrency use has grown exponentially since the first token, Bitcoin (BTC), was launched in 2009. Since then, over 20 000 separate crypto tokens have entered the market hoping to mimic Bitcoin's success.

Despite the hype surrounding cryptocurrencies and the sharp rise in market values, functional uses for the currencies are still in their infancy. Much effort has been spent on creating the nodes which make up the blockchain networks that power crypto exchanges and digital wallets, but spending using crypto tokens is still relatively low.

Online casino operators have picked up on this and have begun updating their payment services to accept a variety of crypto tokens. These crypto casinos offer visitors the same services that online casino users have become accustomed to, the only difference is that they can now deposit, spend, wager and win using cryptocurrencies.

The benefits of these new platforms include faster payment times, lower transfer costs and heightened online anonymity.

Affiliate sites such as USA crypto casinos have grown in popularity thanks to their simple overview of the crypto casinos out there. Affiliate sites operate much like price comparison sites, listing crypto casinos based on reviews, bonuses offered and playable game titles.

Read on to learn more about crypto casinos and how they could improve your online experience.

Why Would Players Choose An Online Casino Offering Crypto Transactions?

Regular online casinos typically ask their players to submit their personal details before opening an account. This information is also known as Know Your Customer (KYC), and is similar to the type of information required when opening a bank account.

Some players are skeptical of these online requirements, due to increased data leaks, identity theft and potential fraud. In addition, many players are unable to access online casinos in their region or country because of restrictive gambling legislation. Crypto casinos offer a way around that, with many having no KYC requirements.

What Are The Advantages Of Crypto Casinos?

1. Quicker Transaction Speeds

Regular online gamers will know the frustration of wanting to bet or withdraw winnings and having to wait days to do so. This is especially true for gamblers visiting sites in different geographical locations and requiring international transfers. Bank transactions from one country to another can take several days to clear through intermediaries. Cryptocurrency transfers on the other hand have become much quicker, thanks to higher trade volumes and increased exchange capacities. 

2. Lower Transfer Fees

Bank transfers and credit card payments are subject to admin and processing fees. In addition, many online casinos might impose transactional fees for handling deposits and withdrawals made using a credit card. Cryptocurrency fees have dropped significantly since they were launched. Increased user numbers, transactions and exchanges have seen fees decrease from low single figure percentages to decimal percentages. This cost saving is beneficial to both players and casino operators.

3. Enhanced Anonymity and Data Privacy

Crypto casino visitors can access their favorite crypto platforms with more certainty, thanks to higher encryption and greater anonymity. Personal information such as date of birth, name, country of origin or banking and credit card information is no longer required by the casino operator. This means that this information is not susceptible to fraud, theft or misuse, allowing players a sense of confidence and security not easily found online.

4. No Restrictive Online Gambling Legislation

Crypto casinos are not typically bound by geographical restrictions, such as local gambling regulations. This means that players from around the world can access platforms with greater ease, helping to grow a more diverse gaming community. 

5. The Addition of Provably Fair Gaming Practices

Traditional online casinos have struggled with accusations of rigged games on their platforms. Crypto casinos might be able to offer players a more trustworthy alternative with the introduction of 'provably fair' algorithms. Players can verify the outcome of each game using this innovative technology, fostering a safer and more reliable gambling experience.

What Games Will I Find On Crypto Gambling Platforms?

Crypto casinos are like traditional online casinos, offering many of the same games and titles. Players will be happy to know that they will still find blackjack, craps, baccarat, poker, live dealer games and online slots.

In addition, crypto casinos offer sports betting, sportsbooks and wagering on esports.

What Tokens Are Accepted On Crypto Casinos?

Online platforms accept a variety of crypto tokens, with some even creating their own in-house currency. It is best to check up and do your research on your crypto casino of choice, to ensure that your crypto token is accepted. Bitcoin, Ethereum, USDC, Litecoin, Bitcoin Cash, Dogecoin and Binance Coin are commonly accepted.

Are Bonuses Any Different When Using Crypto?

Bonuses form part of a casino's loyalty program, allowing the casino to give something back. Crypto casinos offer many of the same online bonuses that gamblers have become used to. Visitors will find welcome bonuses, free spins and deposit bonuses on crypto sites.

Pro Tip: Casino operators will use bonuses to attract new players and reward existing players, but they will also use them to differentiate themselves from their competition. Newly established crypto casinos are vying for the top spot online and are offering large crypto bonuses to achieve this. This presents a unique opportunity to gamers looking to improve their odds, so keep a look out for generous crypto bonuses listed on industry news sites and affiliate platforms before signing up.

What Does The Future Hold For Crypto Casino Sites?

With the increased demand for innovative online gaming, the continued growth of crypto casinos seems promising. One of the biggest changes that could affect crypto casinos is the introduction of Virtual Reality (VR) and Augmented Reality (AR) technologies.

VR and AR could alter the way users interact with crypto casinos and the way developers create gaming titles. Imagine live dealer games that are cast around your room, or online slots where a player can enter the game to spin. The possibilities of immersion and engagement would grow with the introduction of such technologies.

In Summary

Crypto casinos are on the rise, with gamers, developers and operators helping to grow the market. Crypto token use has led to quicker transfer times, lower transfer costs and enhanced data protection. In addition, players can enjoy more online anonymity from wherever they are in the world, play fairer games and take advantage of generous crypto bonuses.

Players can look forward to new crypto specific titles and the introduction of VR and AR tech to enhance their sessions. Visit an affiliate site, check out some of the crypto casinos on the market and see if this new form of online fun speaks to you. As always, bet responsibly, allow for losses and enjoy the game.