April 23, 2019
5 Reasons You Should Play At A Cryptocurrency Casino
A casino is a casino, so why would you bother getting into cryptocurrency just to play at a Bitcoin casino or at a cryptocurrency casino? Well, not all casinos were created equal. But if we are talking about cryptocurrency casinos and traditional ones in general, then there are quite a few reasons why the former are better than the latter.
Provably Fair Gaming
The first and sometimes least understood advantage that Bitcoin casinos or cryptocurrency casinos have over the traditional ones, is provably fair gaming. This feature is deeply seeded in the philosophy that the creation of Bitcoin brought with it: Don’t trust, verify! Before provably fair gaming, casinos were able to trick players with impunity when it came to the outcome of every spin, roll or draw. With provably fair gaming, players can independently check the randomness of the outcome on each spin, roll or draw.
Pure cryptocurrency casinos even base their results on the blockchain, meaning that it is impossible for them to manipulate them. That is something traditional online casinos cannot do. It is a new standard that cryptocurrency casinos have set, and that standard has clearly set them apart from their traditional counterparts.
Cryptocurrency Casinos Have Instant Pay Outs
The next feature that cryptocurrency casinos brought to the space, was instant pay outs. This is something that traditional casinos would have never dreamed of. In fact, traditional casinos have often withheld player funds to convince them to play more, a tactic that wouldn’t fly in the world of cryptocurrency.
Beyond that, blockchain-based gambling allowed for easy instant pay outs, while in the realm of fiat that is virtually impossible. The following factors allow cryptocurrency casinos to enable instant pay outs:
- Cheap transaction fees
- Quick transactions
- The possibility of opening multiple transaction addresses at once without incurring in any additional costs
Instant pay outs were the only option when Bitcoin gambling first emerged. On dice games – which were the first Bitcoin games available – players would deposit their fund into different wallets depending on the outcome they were betting on. These addresses were unique, and the software decided where to send the proceeds of each bet based on the provably fair outcome of each roll.
Anonymity, or at Least, Pseudonymity
Another prominent advantage of cryptocurrency casinos is the degree of anonymity that players have. Cryptocurrency casinos don’t necessarily have to KYC their players – unless they are licensed and required to do so. Therefore, players are able to use a VPN and play anonymously. In the early days of Bitcoin gambling, anonymity was greater than today because players would be able to mine for coins using their own computers and then use the money that they generated to play. That coupled with a VPN or other measures would give players a very high degree of anonymity.
The creation of Bitcoin brought about the emergence of a new culture. All of a sudden, uniquely innovative games started popping up. There are Bitcoin and cryptocurrency games that follow the story line of Satoshi Nakamoto or have elements that criticize the traditional financial system. All these game plots and sub plots add a lot to the gaming experience, and traditional casinos can’t compete with the kind of story lines that come from the world of cryptocurrency.
Innovation isn’t limited to the kind of story line available. Many cryptocurrency games revolutionized the way we see certain gambling genres. Dice is the best example. The first Bitcoin dice games allowed players to “roll” based on outcomes with thousands of possible numbers and combinations. No reasonable combination of dice could ever yield so many possible outcomes. Dungeons & Dragons dice couldn’t even come close to what a cryptocurrency game based on the blockchain could do!
Cryptocurrency Casinos Bring Jackpots that Keep on Growing After you Hit them!
Finally, the greatest advantage that a cryptocurrency casino has over its traditional counterparts is the nature of the jackpots. A jackpot that is denominated in Bitcoin has the potential to keep on delivering on fiat value years after a player hits it for example. This is because Bitcoin can appreciate tremendously after the player already won the prize and withdrew it to their wallet. Imagine hitting a 100 BTC jackpot back in 2012 and keeping the coins. Your jackpot would have appreciated thousands of times over!