In 2009, Satoshi Nakamoto unveiled his fascinating invention to the world. Thus Bitcoin became the first-ever cryptocurrency. Nowadays, cryptocurrency is a very popular part of the zeitgeist. Nary a person has not heard the word Bitcoin or doesn’t know what it is and how it works.
But, what some might not be aware of is the existence of online gambling sites focused solely on cryptocurrency. So, in this article, we will look at a few fascinating facts about crypto casinos in hopes that people will better understand how they work and what they are.
Crypto Casinos Are Safe and Secure
The first thing we are looking at is the thing that is likely at the forefront of everyone’s mind. That is safety and security. Online gambling websites have been around since the late 90s, and for a long time, many websites went unregulated. This great detriment to the player, as an unlicensed casino may place their odds hugely in their favor.
However, nowadays, this problem is no longer as widespread. While there are still some unlicensed casinos floating around the web, most are quickly reported and shut down. And the same is true for crypto-based gambling sites. So, when you are looking to find a good website, make sure that what you look for is a license, preferably issued by a trustworthy offshore licensing company.
By using offshore websites, you also benefit from keeping your anonymity. Gambling at online casinos without providing your ssn is a hugely sought-after benefit and one that offshore bookies and gambling sites are far more likely to provide.
Not All Casinos Embrace All Crypto
Since Bitcoin’s rise to prominence, the crypto market has surged. This has led to thousands of cryptocurrencies, many of questionable quality, being released. While Bitcoin is not the only trustworthy and commonly used crypto, it is certainly the most prestigious. And while it isn’t the only one that crypto casinos have embraced, it is very likely to be accepted most often.
However, if you don’t want to go for Bitcoin, these are the cryptocurrencies to keep an eye out if you are looking to gamble online:
• Dogecoin (while it is pretty popular, some might not accept it due to its status as a memecoin)
Before we move on to the next fact, it is worth mentioning that only about 1% of all cryptocurrencies are accepted at crypto casinos. Now that is fascinating.
Some Bitcoin Casinos Pay Out Real Rewards
Another fascinating fact about crypto casinos is that you can win real-world rewards. Of course, at most crypto casinos, players deposit crypto and withdraw crypto. However, certain websites have introduced real-world prizes. This can be anything from newly-released video games to even World Cup tickets.
Now that the World Cup is just around the corner, tickets are a hugely popular prize in many gambling games. So, why shouldn’t crypto casinos get a slice of the pie?
This option is an excellent alternative for people who want to deposit whatever crypto-earnings they may have gathered, however, want a more tangible withdrawal when the time is right. And the option is quickly growing in popularity.
Crypto Casinos Are Just as Fun
Many are wondering what sets apart crypto casinos from their FIAT-currency counterparts or even land-based casinos. And the answer here is simple: Nothing. When discussing the best cryptocurrency casinos, we are discussing online casino websites, which feature a wide variety of games, all available at any casino around the world or on the web.
In other words, crypto casinos are just as good and fun as the FIAT-based variants and provide the same experience. The only difference is that they require you to be a crypto-owner and make crypto-based deposits.
The First Bitcoin Purchase
While this may not be directly related to crypto casinos, it is a fun story for any Bitcoin investor. For the first few years after its release, Bitcoin went relatively unnoticed. So, early crypto investors were known to have made quite a few mistakes.
One of the most famous ones is Laszlo Hanyecz’s infamous blunder. The programmer spent 10,000 BTC on 2 large pizzas. By today’s standards, poor Laszlo paid a quarter of a million dollars for two pizzas from Papa John’s. At the very least, we hope that they were delicious.
So, we hope these five fun facts have helped you to understand better what crypto casinos are and whether crypto casinos are good. They certainly can be fun and provide some rather interesting prizes for anyone willing to explore something new in gambling.