Cryptocurrency and classic casinos have a lot in common. In these establishments, visitors play gambling games: different types of roulette, poker, slot machines, can bet money on various sporting events, trying to predict their results. But in regular online casinos and classic bookmakers, players fund their accounts in euros, dollars and other fiat currencies, which they use to withdraw their winnings. In crypto casinos, bets are placed in different types of cryptocurrency, such as bitcoins.
Why is it beneficial for players to use cryptocurrency casinos? Follow the link and read the answer to this question in an article from AffCommunity.
The differences between crypto gambling and playing in a classic casino are as follows:
- before starting to play in a cryptocurrency casino, the player needs to become the owner of a cryptocurrency wallet;
- after that he should replenish the created crypto wallet by purchasing cryptocurrency on the exchange, from other users, through the exchanger;
- it is possible to make a deposit to the account only in cryptocurrency;
- only cryptocurrency can be used to withdraw your winnings, you can’t withdraw your winnings in fiat;
- most of the actions in crypto-casinos are automated: these establishments do not ask for manual confirmation of transactions, the payment of winnings is made automatically due to finding each transaction in the blockchain and linking the winnings to a smart contract.
Cryptocurrency casinos come in the following two types:
- Those accepting both fiat and crypto. Such online casinos are popular among players who prefer to use different payment methods.
- Working only with cryptocurrency. Such establishments operate entirely on the blockchain. They may not have managers and servers. You can play in them only on crypto, there is no support for fiat funds.
Processes in cryptocurrency casinos function on a chain of blocks. In the event that such an institution stops working, players’ winnings do not disappear, but are stored in the blockchain, which performs their automatic processing with the help of smart contacts.
RTP in a crypto casino is higher than in a classic institution (98-99% instead of 95-99%), so its customers win more often.
