Saturday, 25 May 2024

Crypto News

How the crypto market affects the iGaming industry

How the crypto market affects the iGaming industry

Have you ever thought about how the cryptocurrency market influences your preferred online gambling games? This virtual form of currency, introduced in 2009, has taken over the gaming industry with its potential to make deposits and withdrawals faster and more securely without any associated cost.

As cryptos continue advancing on their path, they are also transforming all aspects of iGaming. Below are all the details regarding this meteoric phenomenon that is revolutionizing digital casino entertainment as we know it.

The Emergence of Crypto-Based Online Casinos

As the crypto revolution doesn’t seem to be stopping anytime soon, more online operators like Joe Fortune Bitcoin Casino are seeing its potential and various benefits. This is why a lot of iGaming sites choose specifically Bitcoin as their only acceptable form of payment or introduce other digital coins such as Ethereum, Litecoin, Tron, Ripple, etc.

There are several reasons why these casinos are gaining in popularity:

  1. Anonymity. Bitcoin payments don’t require players to divulge any private or personal details, making it a great way for gamers who value their privacy.  As crypto gambling sites don’t save the sensitive financial information of their players this also adds an extra layer of security.
  2. Speed & lower fees. This is one advantage that attracted many casino customers in the first place since cryptocurrencies allow instant transfers with relatively low fees compared to traditional online payment methods such as Visa and Mastercard credit/debit cards or e-wallets like PayPal.
  3. Global accessibility. Bitcoin transactions lack geographical limitations because cryptocurrency sends across jurisdictional boundaries. It makes it a really attractive choice for those who live far away or are residing in countries whose legal system restricts regular iGaming activities. 
  4. Provably fair games. Online casinos using cryptos tend to offer provable fairness games meaning that gamers can verify whether results were generated randomly after each bet by comparing server seed hashes (which must be accessible). That being said, playing on these platforms allows members peace of mind knowing they will get fair outcomes based on the implemented algorithms. 

While these features make crypto-based gaming sites…

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