Cryptocurrencies and online gambling, a perfect match
Today, cryptocurrencies are a global phenomenon known to most, but understood by few. However, if we look back, online casinos have exploited the advantages of cryptocurrencies since the early years of Bitcoin.
Essentially, Cryptocurrency and online gambling are a match made in heaven for gamblers and online gambling platforms alike.
However, the use of cryptocurrencies in online gambling offers more than just speed and novelty. Cryptocurrencies can meet higher expectations of privacy transparency and security all while speeding up the general transaction process.
First and foremost, cryptocurrency allows willing bettors to preserve their privacy. By using funds available in your e wallet you don’t have to give away your banking info to yet another online entity, every time you’d like to try a new casino or poker room.
This kind of currency is a good workaround restrictions
As well, by avoiding banks’ tight restrictions on sending and receiving money to and from online casinos, cryptocurrencies make it easy to pay with freedom and anonymity.
Furthermore, digital currency generally makes online gambling less of a hassle with lower transaction fees, which in turn enables lower house edges across the board.
Cryptocurrency is especially advantageous for pro players who otherwise must travel to an appropriate jurisdiction for legal online gambling.
Finally, known online gambling license issuing jurisdictions, such as Malta and the Isle of Man, have been at the forefront of digital currency regulation.
In fact, the Isle of Man was the first government in the world to trial a blockchain platform, the first to regulate cryptocurrency businesses and, naturally, the first to officially recognize Bitcoin gambling.
Most recently, Malta has determined its online gambling strategy as a future first approach. Embracing evolution in technology and legislation, with legalization and regulation of bitcoin gambling. A prime example is the esports platform UNIKRN, which has received a license from Malta, giving it the green light to use its very own UniKoinGold crypto token. The first of many to say the least…
This is only the beginning of cryptocurrencies in the gambling world
In the upcoming years, we can expect Online gambling to be at the forefront of the cryptocurrency movement, in whichever way it may swing.
So, if buying cryptocurrency doesn’t seem appealing to you, perhaps gambling with it might!