With the increase in popularity, many casinos have adapted the ability for players to deposit and withdraw money through cryptocurrencies. Some casinos also took it a step further and based their whole casino only on crypto.
With these recent advancements many would be curious to see as to how crypto casinos operate and whether or not they are safe to be played at. Well, in this article we will be answering just that, so buckle up, because it’s time to know the truth.
Is It Hard to Get Into Crypto Casinos?
The signing up with one of the many safe online casinos is usually not that different to traditional casinos, the only small problem is the process of having to go through opening an account which turns fiat money into crypto coins and then transferring those crypto coins into your crypto casino account. The process is considered to be done fairly quickly, sometimes even faster than with traditional casinos. The only small issue is having to go and open an account with an e-wallet provider to be able to deposit such funds.
First Thing To See About A Casino
This point we are about to say does not only apply to crypto casinos, but to all casinos in general. Before even being tempted to sign up, it is critical to see whether or not the casino is licensed by a regulating body. The most reliable and trustworthy regulating bodies in the world are the Malta Gaming Authority (MGA), UK Gambling Commission (UKGC), and the Curacao Internet Gambling Association (CIGA).
If the casino has a licence from any of these reliable regulating bodies, then you can consider the casino to be safe to play at. On the other hand, if it doesn’t have a licence from any of these bodies, it’s best to see other crypto casinos that are available in the market.
Is The Crypto Gambling Industry Big?
Given that it is still a recent development, new coins such as ADACash are being released. The industry is quite small when compared to traditional online casinos. But one thing is for sure, crypto casinos are increasing on a weekly basis, and we would not be surprised that if crypto continues to grow as it has been doing in the last couple of months, it will surpass traditional casinos in less than a decade.
Bonuses at Crypto Casinos
With crypto casinos it is no different to traditional casinos. There are many crypto casinos that are offering incentives to potential players as for them to sign up with their casino. Having the opportunity to use a bonus at a casino is a great start as this allows you to get a feel of the casino without using your own funds from the get go.
Wrapping it up
On the whole, crypto casinos are safe, but only if they are licensed by a reliable and trustworthy regulating body. It is not hard to get into a crypto casino, as mentioned above but it does require some knowledge on how cryptocurrencies work. The reason being is for you to make sure as to how it works and what is different from other forms of payments.