Online gambling has been around for around 20 years and has changed how the gambling industry is viewed. Because of the ease with which gamblers can visit online casinos, Millennials and others who prefer digital options have begun to embrace online casinos more than ever. In addition, the introduction of cryptocurrency has fueled the transition to digital and online crypto casinos are becoming more prevalent on a regular basis.
Online crypto casinos fall into two categories – those that accept crypto alongside fiat and those that only accept digital currency. The majority of the online casinos found today accept both options, while those that only deal in crypto typically offer their users wallets in which they can store their digital assets, as well as place wagers. This facilitates the gaming experience by allowing users to avoid having to transfer from a separate wallet to the online casino platform. However, with the exception of this, both wallet and non-wallet online casinos provide the same benefits.
When playing at an online crypto casinos, users are automatically provided a number of advantages. In addition to the bonuses the platforms offer, there is also increased transparency that comes from the nature of crypto. Since all transactions are stored on a blockchain, all movements are traceable, which helps to prevent fraud. There is also a certain level of anonymity since the users’ crypto wallets, whether on a wallet-hosting site or not, are not tied to bank accounts. Additionally, deposits and withdrawals are faster and cheaper than any other alternative that uses fiat.
There has been some hesitation on the part of the gaming community to explore online crypto casinos; however, this is changing. The assertion that digital assets such as Bitcoin and Ether are inherently more volatile has already been disproven, which means that funds held in a digital currency wallet are not going to lose value. Over the next couple of years, as both crypto and iGaming become more popular, online crypto casinos are expected to become more common and substantially more popular.