Even though it is just the beginning of 2022, gambling market analysts have already announced an unprecedented infiltration of crypto technologies into online casinos.
Bitcoin is still the most popular cryptocurrency, but many modern gamblers actively use Ethereum and Dogecoin. This is mainly due to the competition of cryptocurrencies that offer new levels of privacy, security, and convenience.
Overall, the main reason for online casinos to converge with digital currency seems to be quite clear: high-quality protection of private info. The fact is that traditional casinos ask for passport data, information about bank numbers, credit cards, etc. before approving withdrawals of winnings. This is regularly used by scammers who steal millions of dollars on fake online casino sites visited by users from different parts of the world.
Now that crypto technologies have become part of the gambling industry, players have an opportunity to remain anonymous because digital currencies are not regulated by financial institutions. Gamblers can complete transactions in just a few clicks and with very low fees.
The second aspect that attracts punters to crypto casinos is convenience: geographic or currency restrictions cannot prevent you from playing because it is a decentralized currency.
However, this does not mean that you shouldn’t worry at all. New technologies are accompanied by new fraudulent schemes. That is why it is important to check not only the legality and availability of the selected gaming platform but also your electronic crypto wallet’s reliability.