Blockchain technologies have long been a part of the daily life of many successful industrial companies for ages. Blockchain is already turning the gaming sector upside down and this trend is expected to only intensify so many enthusiasts to discover the unique opportunities this new technology provides. Today, gambling online has two leading currencies called bitcoin (BTC) and ethereum (ETH) which are often used for deposits and withdrawals in Internet casinos.
According to the list of ethereum casinos in 2021, we can see that players prefer the Ether method to BTC, and some reasons why that happens exist. In this article, we are going to understand why people choose such a method for gambling online.
What Are the Features of Blockchain?
Perfectly suited for transactions processing, blockchain has the following features:
- decentralization — everyone has the data in the system and no authority or government can regulate it;
- data transparency — the participant can track any change in the database;
- confidentiality — anonymity is guaranteed by a set of encryption techniques;
- resistance to hacking — no one has the right to make changes without a special access code;
- trust — mutual verification of the entered data contributes to the achievement of the harmony of the system.
Online Casinos & Crypto
The development of cryptocurrency has spread into the online gambling industry. This is how various crypto operators appeared, and first of all, BTC and ETH casinos. Anonymity and decentralization of such playing platforms began to attract an increasing number of customers around the world.
Moreover, casinos with ethereum have become highly demanded among players worldwide including Asian countries where casinos are mostly prohibited. For example, ETH in Japan is not controlled by local authorities. Therefore, Japanese players pick Ether as a method for payments while gambling on the Internet.
Why Players Choose Cryptocurrency Casinos?
As we see, the features of blockchain make cryptocurrency a great method for processing payments while playing casino games. Now we are going to reveal the moments that explain the popularity of the crypto method in the gambling sphere:
- You can gamble without worrying about privacy. Online casinos using cryptocurrencies provide players with anonymity, thereby making it possible to focus on the progress of the game. Now users of the most distant countries can play with each other.
- The security of online casinos is guaranteed by blockchain technology. All transactions carried out in the game are recorded and assigned their own codes, which are quite problematic to change.
- The reliability and safety of earned funds is an important advantage over conventional casinos. The won funds can always be transferred to an electronic wallet or converted into cash.
- The cryptocurrency is decentralized, so it is not bound to any bank. Therefore, arrest or other measures of influence cannot be applied to your earnings.
- Bitcoin is the most common currency in the casino area and it is easily split into smaller pieces. Small bets will be able to save the budget, in case of a win, increase it and just help to relax and have some fun.
- While playing a game in any casino and using crypto coins, a player can have a chance to get top bonuses.
Cryptocurrency and online casinos are two technological products that have been waiting for a meeting and are finally going together. Besides so many pros, crypto casinos have several significant cons.
As in any other financial sphere, fraud also tries to obsess your digital funds and this makes online casinos unattractive areas. Plus, the cryptocurrency market is subject to constant change. This instability can lead to the following changes. For instance, by the end of the game, a profitable currency can become a dummy and vice versa.
Prospects of Crypto Gambling Online
Cryptocurrency enhances the casino's independence from external factors. In terms of gaming, it provides the guarantee of fairness that elevates online casinos in the public eye. If you analyze the statistics for the bitcoin or ether casino request, you can see an increase in interest among thousands of people. Crypto games have appeared recently, but have already won the love of crowds and have created a kind of fan club that rejects classic casino games for free or fiat money.