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In the daring world of iGaming, casinos haven’t been afraid to shift the goalposts and the one noticeable change over the past few years has been the inexorable rise of crypto casinos. Casinos have paved the way for utilizing cryptocurrencies on their site, and for some, it has become a go-to option for many.
Indeed, for some players, the premise of crypto casinos sounds eminently exciting, and it can give them more freedom and flexibility. By their very nature, crypto casinos have become increasingly more resilient and prevalent in a fast-changing landscape. What are the benefits? How have crypto casinos managed to recalibrate? We will discuss this and more in this guide.
Role of blockchain technology
The role of blockchain technology can’t be overlooked in the meteoric rise of crypto casinos. By using a decentralized system, this has added another layer of security for players. It has become a paramount feature, especially for those who wish to gamble at casino platforms while retaining their anonymity. Not only that but new security advancements have minimized the chances of players having their accounts hacked.
As such, transactions are encrypted, and for those who cherish privacy while online, the blockchain technology installed at crypto casinos has made them a more appealing option.
Moreover, cryptocurrency deposits or withdrawals will usually have reduced fees compared to more traditional payment methods, therefore underlining their worth in the industry.
Payment providers expanding their networks
Far from being the sole preserve of crypto payments, such as Bitcoin, Ethereum, or Litecoin, the most established payment providers of our time want to get involved and have a slice of the cake by adding crypto to their portfolio.
Here, we are referring more specifically to global payment giants, such as PayPal and VISA, who have been enabling capabilities for crypto payments and developing the relationship between digital and traditional fiat currencies.
Yes, VISA has cottoned onto the impact of crypto casinos, and it has its own vision for how it intends to support the growth of digital currencies. On the gambling front, this has only bolstered the notion of crypto casinos being more robust, especially when long-standing payment providers have thrown their weight behind them.
With its global accessibility, crypto casinos are far from small fry in the ever-evolving gambling landscape. Well, cryptocurrencies have managed to transcend geographical boundaries, and with more people using their mobile phones to access their favorite casino games, crypto casino platforms have focussed their attention on captivating the more modern and savvy gamblers.
Recent figures have suggested that the crypto gambling industry has enjoyed annual growth of 10% and it has now exceeded $ 200 billion. By tapping into a younger demographic such as millennials and Gen Z, cryptocurrencies have managed to stay relevant and connected with gamblers in what is now a saturated market.
Crypto casinos today
It’s fair to assert that cryptocurrencies are on a huge trajectory, and they look vastly different today from when they first exploded into the public consciousness. Yes, crypto casinos bring a lot to the party and they have been a game-changer.
You only need to take a cursory glance at some of the most reputable non-GamStop casinos found on this list which purport this notion. For example, the likes of NonStop Casino and Platinum Club facilitate a wide range of cryptocurrencies for their players to make deposits, and both sites pride themselves on providing swift payouts.
Generally speaking, crypto casinos nowadays are trying to go the extra mile for their players. In many cases, crypto casinos will offer more lucrative welcome bonuses with better terms than their old-school casino counterparts that don’t advertise cryptocurrencies on their site.
In summary, crypto casinos have made a staggering amount of progress in a short space of time and they have grabbed the attention of players who are looking to deviate from the norm. Yes, the use of blockchain technology has made online gambling a more seamless experience at least in terms of security and making transactions hassle-free.
Crypto casinos have managed to evolve and adjust to meet the demands of their players. Of course, more changes are expected in the future, but perhaps crypto casinos will eventually surpass traditional casinos in terms of popularity. It is a case of watching this space to see what happens.