Gambling coins are enjoying growing popularity around the world. Today, players can use cryptocurrency at most online casinos and bookmakers. This still revolutionary option allows the gaming giants to grow their clientele. As well as expand their own capabilities. These are the very opportunities that CasinoChan opened up when they made Bitcoin betting available.
But if you are not a technician, it's okay for you to know the basics about it. But isn't it worth knowing a bit more?
History of Gambling With Cryptocurrency
First of all, what is cryptocurrency? It is a digital asset that works as a way of exchange, like regular currency. Yet, records of cryptocurrency ownership are kept in the ledger of a computerized database. The idea of paying with cryptocurrency was first born in 1983. That happened shortly after David Chaum introduced electronic money. That was later replaced by Digicash in 1995.
However, in 2009, the first decentralized digital coin called Bitcoin (BTC). Bitcoin is currently the most widespread and most valuable digital coin. This led to the emergence of other cryptocurrencies such as Litecoin, Namecoin, Dogecoin, etc.
Today, cryptocurrency betting is widely available on most gambling sites. Although availability may vary depending on the player's jurisdiction.
Benefits of Gambling With Cryptocurrencies
Below are some solid tips on why you should speed up your gambling with cryptocurrency:
Anonymity is the most compelling benefit of using digital coins when gambling. Digital currencies are available for use without connecting to a bank is a significant plus. Players do not need to disclose their personal and financial details to complete transactions. Moreover, the authorities are still trying to regulate the booming world of crypto gambling.
Safety and Security
Cryptocurrencies actually offer a higher level of security. As stated earlier, with digital coins your personal information is safe. All digital currencies use blockchain technology to store a list of records related to secure cryptography. So, since there are countless copies of transactions, it is impossible to modify or cheat transactions.
Low Transaction Fees
Most crypto casinos charge low or zero transaction fees. Others even offer promotions for players using cryptocurrency payments on the site. This is the complete opposite of the traditional online casino banking methods. In fact, low transaction costs can prove to be a win-win scenario for all parties involved.
Low-cost transactions should go hand in hand with fast payments. Well, this is exactly what you will get using cryptocurrency for gambling. Cryptocurrency payments at most regulated online casinos are almost instantaneous. For example, most Litecoin transactions take less than 3 minutes to complete. Bitcoin, the most widely used digital coin in the world, is relatively slow at around 10 minutes. Yet, it is significantly faster than traditional online casino payment methods. Debit and credit card payments can take up to a week.
The Bigger, the Better
This is a very underestimated advantage of using digital coins in gambling. Cryptocurrency payments vary in most online casinos. Hence, players can use any digital money in the vast world of online casinos. Some of the most popular digital coins include:
NEO and more
As more digital coins appear every day, finding the best cryptocurrency can become a challenge. But if you look closely, it's a sure sign that the world of crypto gambling is about to explode. So, take advantage of these benefits and enjoy any casino game anywhere, anytime.