Whether you are busy finding a decent bonus for a PayPal casino or you only play using your credit or debit card, you can’t have escaped noticing that many casinos are now offering the chance to play your favourite games using some of the more popular cryptocurrencies.
Crypto casinos are not exactly new; they’ve just started to raise more to prominence as the digital currency has become more mainstream.
But where do you start with crypto casinos? Why are they popular – and are they a good thing?
One Minute Cryptocurrency Basics
Although it is hard to track the number of cryptocurrency users because of the very nature of the decentralized currency, best analyses have shown that the global user base of cryptocurrency rose 190% between 2018 – 2020 and continues to grow. Some statistics claim that one in four Americans have invested in some form of cryptocurrency.
Cryptocurrency is essentially a digital currency that is exchanged through a computer network, protected by cryptography. The decentralized technology is managed through the blockchain, which is a ledger that is managed by a distributed and disparate network of computers.
Crypto is described as decentralized, because unlike fiat (physical) currency, it is not reliant on a government or a bank to uphold or maintain it – which means that it is theoretically immune to interference or manipulation.
Although crypto is not yet used in many retail transactions, interest in the area from companies like Mastercard and Tesla have increased the legitimacy, making more people interested in investing in the altcoin network.
Why Crypto Casinos?
Cryptocurrencies are being offered as a deposit method by online casinos around the world. Some are ‘traditional’ online casinos who offer the alternative method alongside using credit and debit cards, bank transfers, and PayPal.
Other crypto casinos are set up to only accept altcoins as a deposit and withdrawal method, and you might need to use a VPN (Virtual Private Network) to access them, because they are not widely regulated or accepted in every jurisdiction – partly because cryptocurrency is notoriously difficult to oversee and monitor by global governments.
The global crypto gambling market is predicted to reach $1.6 billion by 2024 – so why are people choosing this new way to play?
Anonymity
The whole point of…
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