The arrival of cryptocurrencies has changed the way we think about money, but it’s not just about sending money to other people instantly or investing in coins that you expect to grow in value in the near future. Digital money has also become a popular method of funding iGaming accounts, so how does this work?
More Speed and Security for Players
Gambling in a casino used to be about putting on your best eveningwear and going to a local gambling hotspot. While this can still be done in some parts of the world, the arrival of online casinos has helped us to play roulette, slots, blackjack, and other games any time we want, and there’s no longer any fancy dress code to meet.
However, this switch to online gaming has meant that people need to find new ways of funding their accounts rather than going to the cashier to get a pile of physical chips. Various methods can now be used, but it turns out that cryptocurrencies are ideal for funding a casino account. Thanks to the high level of security, that means that Bitcoin wallets and other crypto wallets are almost impossible to hack.
The fact that crypto transfers are speedy is also a big advantage, as there’s no waiting around for the funds to go through. This is especially important in the case of withdrawing winnings, as you may be keen to get that money into your bank account right away.
Part of the reason this market is growing so quickly is that software development companies like Moonrocket are making it easier for brands trio launch their own iGaming sites using a back-end platform that can be added to any operator’s site. Their iGaming solutions allow players to use their favorite cryptos to gamble with to provide a user-friendly experience.
The Use of a Casino’s Own Tokens and NFTs
The first step towards crypto casinos came with the ability to move money using existing coins like Bitcoin, Ether, and Litecoin. This gave players a useful banking method, but there are more ways of using cryptocurrencies in iGaming to be fully explored in the future. One of the main things we expect to see become more popular is the use of a casino’s own tokens.
This brings with it several advantages, such as allowing the operator to give bonuses or the right to access extra parts of the site. If it’s a casino that you strongly believe in, then holding their own tokens can also be an investment, as the value could increase as more players start using them. This means that you change your money into the casino’s token and hope for them to be worth more by the time you withdraw any winnings you’ve made.
Non-fungible tokens (NFTs) haven’t yet become a huge factor in online casinos, but there’s no doubt that potential is there, given the way they’ve become just big news in games like The Sandbox and Axie Infinity. A metaverse casino would immerse the player in a virtual casino setting where the games are played all around them, and the NFTs are used to prove ownership of chips or to provide other benefits.
Yet, the Games Remain the Same
Despite all of the advances in technology that we’ve seen in the casino industry in recent years, the games have remained essentially the same as they’ve always been. Roulette continues to involve a ball spinning around a wheel before coming to rest, while blackjack is still about trying to get closer to 21 than the dealer without going bust.
The use of cryptocurrencies has made the world of iGaming more accessible than ever before, and that’s good news for anyone looking to play any of these casino games in a convenient way. However, this hasn’t caused any major changes in the classic gameplay.