Have you ever played casino games such as slots, roulette, blackjack, etc? If you know a thing or two about casinos, you are probably familiar with the concept of online casinos. In fact, internet casinos are not new, as they have been around for more than two decades. First online casinos were founded in the 90s, some of which are still active.
Naturally, online casinos were up-to-date with the latest technological trends, as they always managed to incorporate cutting-edge technologies to improve user experience. Moreover, they have always been in line with the latest marketing trends, such as having a casino blog, active social media profiles, and more.
However, one of the latest technologies that shook the world is blockchain and its primary embodiment — bitcoin cryptocurrency.
Casinos immediately saw an opportunity in bitcoin and started introducing it as a payment method, one by one. Nowadays, it is safe to say that there are dozens of bitcoin casinos that offer players the ability to play their favorite casino games using bitcoin and other cryptos.
The First Bitcoin Game
Bitcoin and online gambling have been closely related ever since the BTC’s inception. In fact, as soon as it was created, bitcoin was used in a game called Satoshi Dice — a simple dice game where owners of this cryptocurrency were able to test their luck. Back in the day, losing a couple of hundred of bitcoins was not a big deal, as most of them were not worth much. However, the price of BTC eventually skyrocketed, and casinos took over.
Most Popular Casino Cryptocurrency
Needless to say, bitcoin remained the most popular casino cryptocurrency. Although other cryptos such as Ethereum and Litecoin are also widespread, they are nowhere near the popularity of bitcoin.
The main reason why online casinos prefer BTC to other altcoins is simply thanks to the popularity of “digital gold.” Although many agree that bitcoin is not the best cryptocurrency out there and that it has a couple of flaws, the public still prefers using bitcoin and casinos go with the flow.
In other words, bitcoin is still the most profitable cryptocurrency, which means casinos can earn from it as well. At the moment, if any other crypto became #1 digital currency out there, casinos would probably switch to it. However, that is not likely to happen any time soon.
How to Connect Cryptos to Casinos?
If the casino you are registered in offers some cryptocurrencies as a payment option, you need to take a couple of steps to be able to place bets with them.
First of all, you need to obtain some cryptos, which you can do by visiting an online cryptocurrency exchange and buying some with your fiat money.
Cryptos need to be stored in cryptocurrency wallets — pieces of software you can download for free on your PC or mobile device. Once you install a wallet, you will get a personal wallet address that is essential for connecting cryptocurrencies to online casinos.
Next, you need to choose bitcoin (or whatever other crypto is offered in the casino) and enter the amount you want to deposit. Most of the time, you will need to use your wallet and insert the wallet address that you got from the casino to transfer funds successfully.
That’s pretty much it when it comes to depositing cryptos. Withdrawing is even more straightforward; all you have to do is insert your wallet address and the amount you want to withdraw.
Why would someone want to use cryptos in online casinos in the first place? First of all, bitcoin and other cryptos are safe and secure. Furthermore, they usually have very low fees and transactions are pretty fast. Finally, volatility can help you win more money if the prices of cryptos go up, which is another bonus.