It’s been over a decade since cryptocurrencies like Bitcoin made a splash with businesses around the world. You can withdraw funds, buy all kinds of stuff online and even invest. As it turns out, the fact that cryptocurrencies are anonymous and decentralized systems suggest they’re perfect even for gambling. But is a CryptoCasino actually safe to play at? Read on to find out.
How can players benefit from a cryptocasino?
A cryptocurrency is an encrypted monetary system which isn’t owned and hence cannot be controlled by governments or official bodies. This reduces almost all the inconveniences associated with other currencies. Mainly time restrictions, lack of anonymity, fairness, blocking or freezing of funds, and commission. So the fact that we have a faster, simpler, and safer currency naturally gave rise to CryptoCasinos.
Playing at a CryptoCasinos means both you and your transactions are anonymous and safe. Although you can track the amount in your wallet or e-wallet, you don’t have to verify your identity. Also, requests to top up accounts or withdraw are processed instantaneously, which is important to casino players. Moreover, you can play with crypto from anywhere in the world, even where gambling is banned.
Are CryptoCasinos safe?
One of the upsides of using this currency in iGaming is the fact that it’s safe. All withdrawals and deposits are not only instant but encrypted. Moreover, CryptoCasinos won’t ask you for sensitive personal information, like a home address or bank details. In fact, your transactions don’t even show up on your card statements for anonymity – just in a Blockchain ledger, in case of disputes.
There’s also a way to check in real-time whether the crypto games you play are fair for players. The Provably Fair concept uses a combination of Random Number Generators, Seed Generators and Hashing to make sure casinos stay honest. And finally, CryptoCasinos are safe if they have a gambling license, like one from Curacao or UKGC, as this ensures your funds and gameplay are protected.