Tech advancements are nothing new to the iGaming industry. The entire sector thrives on implementing various features to enhance the casino experience. The Internet was the age of the inception of online casinos. Better hardware was followed by better software, and eventually, the mobile approach became the norm. It didn’t take long for cryptocurrency to make it to the industry.
Crypto gambling is getting more popular each year. The rise of crypto users has prompted the growth of crypto gambling. There are lots of casino and betting sites offering various virtual banking options. These currencies are known for their swift payments, which are a plus in any punter’s book.
Aside from that they bring numerous benefits, and they updated the entire gaming sector. Pretty much each form of gambling is enhanced via the use of cryptocurrency. The number of crypto gaming sites has also grown.
The popularity of crypto correlates with the rise in the popularity of crypto gambling. More punters are looking to use crypto as deposit and withdrawal methods which is why crypto gaming sites are going to stay and rise in number. But how did it all start? What’s the phenomenon that propelled the industry forward?
The Genesis of Crypto Gaming
Cryptocurrencies took the financial world by storm. It all started in 2009 with the rise of Bitcoin as the principal virtual currency. Many others followed after it and it soon became evident that crypto gaming was being created. The iGaming sector was in full swing at the period which is why it decided to implement the new invention. It didn’t take long for crypto punters to find what they were looking for at a casino site.
Nowadays, there are thousands of crypto casinos. Stake is one of the most popular ones and crypto gamblers can find what they’re looking for on it. There are tons of interesting games including slots, table games as well and a live casino section. They can dive into the promo section and find some nice bonuses that go with the games. Players can also read more about how to deposit at Stake, how to withdraw and familiarize themselves with various tactics, tips, and tricks when enjoying these titles. Moreover, they’ll enjoy swift transactions, and an added layer of security.
By seeing the perks of this example, it’s no wonder crypto gaming became popular. Thanks to the rise of crypto users in the past few years, the number of crypto punters has increased, and so has the number of crypto casinos. In other words, crypto gaming is still growing in popularity.
Why is Crypto Gambling Becoming More Popular?
The popularity of crypto gaming is rising because of the perks that come with each cryptocurrency. Naturally, there are some challenges to using crypto, but players need to take the bad with the good when using these virtual currencies.
One of the first perks that comes to mind is availability. These are virtual currencies that exist online, and you need online access to get to them. So, you only need a device capable of connecting to the Internet to use them to make a deposit or withdrawal. Thanks to the mobile approach of online casinos, you can do so on a PC or a mobile device like a smartphone or tablet.
You won’t be storing them in a regular wallet. In fact, cryptocurrencies are stored in a crypto wallet. The wallet and your account aren’t tied to any banks or additional financial institutions. So no personal info is tied to crypto transactions. The decentralized nature of cryptocurrencies gives you anonymity as your username and password are the only credentials you’ll need to access your assets. That makes you the sole owner of your assets. You won’t depend on third parties to manage your resources.
Moreover, the digital ledger at any crypto casino is transparent which means you can see all the deposits and withdrawals you’ve made in a certain period. On top of that, blockchain, the tech behind crypto ensures that it automates the process of payments for betting. It takes fairness up a notch which is why crypto and casinos work well hand in hand.
Security is another issue each online casino deals with. They need to have authorization on tools such as SSL encryption, firewalls, two-factor authentication, and more. These are the tools that make up the security system of most online casinos. Crypto casinos also have this system, but they add something extra to the mix.
Due to the anonymity of each player there’s no personal data being shared between them and the casino. They control their assets and therefore prevent any extra financial data from leaking out. With each deposit and withdrawal, there’s a direct link between the casino and the crypto user’s wallet. The blockchain comes with security of its own and when it’s combined with the security tools of online casinos, the account becomes virtually impregnable.
Finally, you have speedy transactions. Every casino player is looking for such transactions because it leaves them more time to enjoy their favorite games. Crypto deposits are instant, they can take up to several seconds to complete. On the other hand, withdrawals take some time to complete. Usually, crypto casinos are done processing them in about 48 hours. That’s the maximum processing period, which is considerably shorter when compared to traditional withdrawal methods.
Some casinos might charge a fee for withdrawals. The fee is substantially lower than that of regular withdrawal options. So, crypto players will not only get fast payments, but low fees. Couple this with security, anonymity, and a decentralized and transparent approach, and you’ll see why crypto gaming is rising in popularity.
Cryptocurrencies come with several benefits. These perks allow players to enjoy their games with swift deposits and withdrawals as well as stay anonymous each time they make a transaction. Each player owns and operates their assets leaving no personal or financial data in harm’s way. The benefits prompt many people to adopt cryptocurrencies, which prompts gaming operators to create more crypto sites to cater to the needs of crypto gamblers.