Ever since 2009, when the first coin was developed, crypto has made a long way. Thousands of projects, hundreds of millions of users all over the world, and countless crypto transactions per day.
And not only has crypto become extremely popular, but it also offers many benefits to worldwide users, thanks to features such as anonymity, transparency, decentralization, security, safety, and speed.
Thanks to this, there have been plenty of crypto projects launched over the past years, and crypto casinos are some of them. Crypto gambling had gained popularity since 2014 when the first Bitcoin casino was launched.
Thus, many crypto enthusiasts decide to start their gambling experience, but there are some things they should consider before doing so. And in this article, we will talk about 5 of them.
What Is Crypto Gambling?
Crypto gambling implies wagering on various games but using crypto coins and tokens instead of fiat currencies. Of course, crypto gambling can be conducted on specialized platforms called crypto (or Bitcoin) casinos.
Crypto casinos are developed based on blockchain technology, meaning they are decentralized platforms that provide high levels of anonymity, transparency, and safety.
Usually, on a crypto casino website, users are allowed to play various gambling games, such as blackjack, poker, slots, roulette, multiple variations of the classics, live poker tables, or sports betting.
Top 5 Things to Consider Before Gambling with Crypto
1. Licensed vs Unlicensed Crypto Casino
Usually, crypto casinos can be licensed or unlicensed. A crypto casino with a gambling license will always be significantly more trustworthy than one unlicensed. Gambling licenses are offered by specialized institutions, and crypto casinos usually pay pretty high prices for getting licensed. And this is why a scam might not be willing to pay so much to get a gambling license.
It is generally recommended to choose a licensed crypto casino when starting your gambling experience, as it will offer you more safety features and will constantly assure you that your personal information and funds are safely kept by the casino.
2. Provably Fair vs Non-Provably Fair Games
Bitcoin casinos offer thousands of gambling games, but while some increase the level of transparency such platforms aim to maintain, others are not so transparent after all. And to divide the games into 2 main categories: provably fair and non-provably games.
Provably fair games are the best option for all crypto gamblers, as they allow users to verify the fairness of the game, thus ensuring gamblers that the crypto casino has no way of cheating a player. Provably fair games got their name from being provable, meaning that the platform can prove that the game is fair at any point. And this is why you should always look for a crypto casino that offers provably fair games.
Non-provably fair games, on the other hand, may not allow crypto gamblers to verify the fairness of the game, and while they might be fair, there also is a possibility that they are not, and users cannot find out whether their bets are lost or multiplied fairly.
3. Special Events and Bonuses
Most Bitcoin casinos organize various special events in order to incentivize their users. Usually, such events take place periodically, and they are available from some days to some weeks, depending on the event. During such events, crypto gamblers can play various games in order to gain as many points as possible. Afterward, according to a leaderboard, users can receive certain rewards that will then help them when gambling.
When it comes to bonuses, many crypto casino focus on rewarding users from the moment they sign up. Thus, you might find a platform that offers a significant welcome bonus. Furthermore, some Bitcoin casinos reward users when making their first deposit or offer a no-deposit reward. Another type of crypto casino reward you might get is a free spins reward.
4. VIP Programs
Once you register on a crypto casino website, you might want to get even more rewards than a welcome reward and a deposit or no-deposit reward. So, you can look for a platform that offers a VIP program. Usually, VIP programs are available for all users, no matter their level or gambling knowledge.
In a VIP program, users have to play the games available on the platform in order to win as many points as possible. According to a leaderboard, gamblers receive various events and have other benefits, such as exclusive promotions or customized support.
5. Security, Crypto Supported, Deposits, and Withdraws
When you research the crypto casinos available in your area, it is essential to find additional information about how a platform works in order to decide whether it is the right option for you.
For instance, look for information such as a crypto casino’s security settings. Once you decide to gamble with crypto, you most probably want your funds to be safe, so a crypto casino that offers 2FA and requires strong passwords will be the right choice for you.
Then, you might want to learn more about what cryptocurrencies a Bitcoin casino supports and what deposit and withdrawal settings it has. This way, you can ensure from the beginning that your gambling experience will be smooth and positive.
To Sum Up
Crypto has become increasingly popular, and crypto casinos did the same once the first platform was launched back in 2014.
Once you decide to gamble with crypto, it is essential to choose a crypto casino that meets your needs and constantly ensures that your digital assets and personal information are safely stored.
Thus, you might want to check information such as what security settings a crypto casino offers, whether it has a VIP program, whether it organizes special events, or if it offers rewards.
Furthermore, 2 of the most important aspects of a crypto casino are whether it has a gambling license and offers provably fair games. This way, you can make sure the platform you choose is indeed trustworthy.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however, no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the cryptocurrency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal, or accounting advice.