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Cryptocurrencies are revolutionizing the online casino space. Crypto casinos are becoming increasingly popular, with players now able to bet on slots, table games, poker, and more simply by depositing BTC or Ethereum. Today, players can use Ethereum and other cryptocurrencies to fund their casino betting efforts.
Crypto casinos have created a new wave of players who have different interests. Find out from this article what these types of casinos are all about and how they have become mainstream in Asia and Oceania. Recently, the gaming industry in Asia has undergone a massive transformation thanks to technological advances that have refined every aspect of our lives. With improvements taking place faster than you can keep up, many Canadian gamblers are unaware of the new opportunities available at casinos.
Introducing cryptocurrencies to online casinos in Asia and Oceania
The rise of the modern digital age has popularised the use of cryptocurrencies. Ethereum, Bitcoin, Litecoin, Dogecoin, etc., are examples of popular types of cryptocurrencies. Most online casinos use regular FIAT coins and cryptocurrencies such as Ethereum and Bitcoin. Cryptocurrency is the most preferred online transaction type for an unlimited gaming experience. More essential and helpful information on this topic can also be found if you go to www.bitspincasino.com.
In short, cryptocurrencies or cryptocurrency gaming sites prefer cryptocurrencies as a payment method to FIAT currency. Here is a list of the most popular types of cryptocurrencies that can be found in online casinos:
- BTC – Bitcoin
- ETH – Ethereum
- USDT – Tether
- LTC – Litecoin
How does a crypto casino work?
Crypto casinos work just like BTC casinos or regular casinos, except for the payout aspect. Because these platforms run directly on the blockchain, you can deposit into a casino wallet or deposit directly into a smart contract.
The transactions that take place in a smart contract are automatic, so they do not require third parties and only take place when the terms of the agreement are met.
The smart contract pays you as soon as the terms are met. You no longer have to trust the casino because they never keep your money. If you lose a bet, you lose your money. If your predictions are correct, the smart contract processes the payouts. Thus, the casino cannot add transaction fees, withdrawal limits, or delay withdrawal times. The offer also guarantees instant payouts.
Crypto casinos becoming mainstream in Asia and Oceania
It is in the interest of online casinos to reduce transaction costs but also to be able to offer players a sufficient amount of freedom of choice. The more payment methods offered, the greater the likelihood that a potential player’s preferred option will be included.
Would you like to be even more flexible with your deposits and withdrawals and perhaps not necessarily depend on classic fiat currencies such as the euro? Then it might be worth looking into cryptocurrencies for yourself. These are online casinos that, unlike others of their kind, are distinguished by one thing: they allow payments in cryptocurrencies. You shouldn’t expect concrete differences in game operations at most crypto casinos, as you can get big wins there and play interesting slots or table and card games.
A crypto online casino must comply with the same regulatory standards as an online casino without the crypto payment option. Important criteria in the evaluation include:
- Crypto Casino must have a valid gaming license, e.g. issued by the Malta Gaming Authority (MGA).
- Slots and other games of chance offered must be monitored and verified by a third party to ensure fair chances of winning.
- The Crypto Casinos website must be secured with SSL encryption so that only the casino operator can see your data.
- Online crypto casinos should have a good reputation, especially when it comes to processing crypto payments.
A simple, intuitive, and fast deposit processing is rated positively by many Crypto Casinos players. In principle, there is no reason for delays, especially when making a deposit. Thanks to the transparent blockchain that exists with both Bitcoin and, for example, Ethereum, deposits can be verified immediately, even if they have not yet been definitively booked with the casino operator.
The sphere has seen remarkable growth over the last few decades, which will remain due to the exponential increase in technological advances. The topic of cryptocurrencies is becoming more and more interesting; people in Asia and Oceania are using their coins to play slots and dare games. Bitcoin has already become an integral part of the global financial world. Therefore logically, attempts are being made to integrate into daily life in various ways.