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In 2016, the Bitcoin boom reached online casinos, generating a major impactamong gambling enthusiasts thus facilitating the movement of money bycasinos and users. After this process of adoption in any part of the world whereonline casinos are legal, according to a study done by Illicit Crypto Ecosystem, the impact of this trend could be observed and to date it is estimated that more than 45% of cryptocurrency transactions take place through casino and gambling sites, even talking about more than 300 transactions per secondrelated to online gambling.
The advantages of using Bitcoin and other cryptocurrencies are innumerable, always highlighting its anonymity, the low amounts in commissions, the easewith which money can be transferred, in addition to the flexibility and convenience of being able to use any device such as PCs, smartphones orlaptops from anywhere in the world. In addition, using Bitcoin for gambling ismuch easier than traditional methods. One of the biggest advantages of cryptocasinos is that the game results are proven to be fair. This means that casino operators cannot cheat. So Bitcoin casinos are the way to go for safer gambling. In this article, we will learn more about this new trend, and also what are themain advantages of crypto casinos.
All about crypto casinos
Crypto casinos are a new generation of virtual casinos that base their game oncryptocurrencies, a new way of looking at the economy that broke into thefinancial world only a few years ago and is at the height of its existence due tothe great popularity achieved by some of its cryptocurrencies and theirenormous market value. These casinos accept deposits of money in cryptocurrencies by offering a great value to turn them into real money, and normally no fees are charged for withdrawing them, as they are almostexclusive to these casinos.
Advantages of playing at crypto casinos
Crypto casinos have numerous advantages over their traditional competitors, as in addition to having completely free deposits and withdrawals within theplatform (which already implies that players do not have any additional costs) these casinos do not use banks or banking institutions as intermediaries, whichusually pleases players, who usually prefer to avoid any official institution forprivacy or even just for security. In fact, in online casino platforms, users can perform all activities from complete anonymity, this means that you do not needto put your name and surname to play, you can create a user with an artisticname and become famous in the world of crypto casinos with a nickname thatyou like.
Did you know that crypto casinos are completely safe for everyone?
Another aspect where much emphasis was placed on security issues, wheremany advances were made in recent times so that users have a complete experience in their passage through the crypto casinos. Online gaming securitysystems have never been as complete as they are today, where the best and mostsophisticated encryption systems are used so that there is no possibility of data or money leakage by the casino or the users.
Therefore, crypto casinos have a great advantage over their more traditionalpeers, since it is not necessary to move money from one place to anotherbecause you will be able to play from the comfort of your home or fromanywhere that has internet access and everything will remain in your account, where no one else has access.
What are the most popular cryptocurrencies in online casinos?
Bitcoin (BTC)
Bitcoin is the most popular cryptocurrency of all time. Despite the fact thatnowadays there are cryptocurrencies with higher technology, BTC continues toconquer, as it is accepted in almost all online crypto casinos. In fact, thanks toBTC, platforms began to include cryptocurrencies as a means of payment, sinceit is an almost anonymous way to deposit and is accepted in almost every cornerof the world.
Ethereum (ETH)
After BTC, many people started using ETH, as a crypto asset to start playing in online casinos. However, Ethereum goes beyond a simple virtual currency. It isalso a platform for decentralized transactions, and one of these applications are online casinos that use Ethereum as a requirement. That is why nowadays if wesee that an online crypto casino accepts BTC you will certainly be able to betwith Ether as well!
Litecoin
Many online casino players have adopted Litecoin because its transactions are completed in seconds or minutes. Also, this cryptocurrency has a fasttransaction speed which is important while playing casino games.