It can often be difficult to keep up with the speed of progress in online casinos. From its initial inception until today, things have changed drastically! What started as a more convenient way to play has become a massive, multi-million dollar industry. As more punters sign up for online casinos, operators and software providers take further advantage of the available technology.
Crypto casinos are just another step in this direction. It uses recent advancement in blockchain to ensure all transactions are fair. If you have recently entered the world of cryptocurrencies, crypto casinos are a new world worth exploring! The core of it remains the same. However, thanks to the way cryptocurrencies work, both sides have a way to keep each other honest!
Odds are, you have probably heard of the word blockchain before. We are also willing to bet you probably have no idea what it actually means. To keep it simple, it is a growing list of records linked together through cryptography. Each record is called a block, and they form a connected chain of information. Hence the name!
Exactly how blockchain works is incredibly complicated. For our purposes, it is important to note that they allow us to keep track of transactions and other data. Blockchain information cannot be faked either. Because of this, cryptocurrency transactions are able to stay secure while offering the utmost privacy to its users!
Crypto casinos use blockchain as a way to handle transactions and offer a programmed payout rate. Players can easily check the records of all wins and losses on the blockchain. Those records are open to everyone, offering better transparency than standard online casinos.
Another advantage offered by crypto casinos is the absence of third parties. The only time you use your debit card or other payment methods is when you buy crypto. After that, you can store it in your own wallet and spend it without any issues. Quite a few online casinos will allow you to deposit and withdraw with cryptocurrencies. That said, crypto casinos take this to the next level!
See, all transactions between player and casino are via Bitcoin or other options. This is fantastic in terms of convenience. You do not have to convert crypto back to real money. You can keep going, and let the magic of blockchain technology handle all transactions. This means money can be deposited and withdrawn almost instantly!
Currently, there are three gambling platforms used by crypto casinos. Each one does things slightly differently but fundamentally offers the same product. A fun way to play your favourite casino games!
EarnBet is a piece of software based around the EOS cryptocurrency. It offers a fantastic variety of games and allows you to play with multiple cryptocurrencies. Online casinos use the EOS blockchain, registering players using its usernames. Additionally, EarnBet has special BET tokens that can be used as motivational programs. These tokens are earned by depositing and betting and can be used to gain access to bonuses.
CasinoFair offers a similar arrangement. However, it uses the Ethereum platform instead of EOS’ blockchain technology. All action in CasinoFairis done through FUN tokens, which can be exchanged for BTC, ETH, LTC or XRP. It has a similarly long list of available games, if not slightly longer than EarnBet.
Finally, we have 888TRON. This platform operates using TRON smart contracts, which offer great scalability and speed. If you have a Samsung phone, TRON dApps are natively supported on most devices! It has a very active gaming community, with more than 2000 casino games available to play.
Since its inception so many years ago, cryptocurrencies have remained a relative niche. They see wider adoption, but it is moving quite slowly. For them to reach mainstream status, they will need two things. To be seen as stable, and to allow you access to the same thing you get with existing money.
Crypto casinos go a long way in turning the second condition into reality. The high price of cryptocurrencies currently makes it difficult to enter the market. That said, if you already have some lying around, we at Indiancasinoclub.in wholeheartedly recommend checking out crypto casinos. They are already an excellent product, and will only improve with time.