Bitcoin and cryptocurrencies are not just a popular way to store digital money as the technology behind it has a far greater implication.
The blockchain is a decentralised platform that enables transactions to be carried out in an ultra-secure environment without the need for a middleman. Everything is transparent thanks to the public ledger that displays each transaction. This combination is helping to revolutionise the gambling industry and introduce the next generation of casinos and betting platforms.
Due to the fact that this technology is new, it can make it hard to know what to look for to find the best blockchain based companies to use. When gambling it is vital that you do not use a rogue operator as it could be extremely damaging and you may end up losing lots of your crypto or even have your identity stolen.
In this article, I will talk about the things you need to check before depositing at a casino to gamble your cryptocurrency.
When rating different crypto operators the first check that you should carry out is to find out if the games offer provably fair blockchain technology. The most common mistake made by punters when searching for casinos to gamble their cryptocurrency is the presumption that all sites that accept cryptos offer provably fair gaming.
This is far from the case as only a very few sites in comparison to the market site have this tech powering their games. Instead, they use Random Number Generators which while they are considered fair, it is not possible to prove this. To be able to find out which casinos offer provably fair games instead of RNG titles is very simple. Go to the games selection and if a public ledger is displayed on the site which shows each bet been made, this is a blockchain platform.
The games are still in the early development stage so you will find the graphics basic compared with the ones found on traditional online casinos. The gameplay is still as exciting though and the reason why they have become so popular over a short space of time is due to the superior house edge this tech is able to generate.
To be able to identify blockchain gambling platforms a great place to start is the registration process. Cryptocurrencies allow for anonymous betting to take place which means that players are not required to enter their personal details.
At a true crypto casino, you will be only required to enter your wallet address so that you can deposit and instantly withdraw.
It is important to play at true blockchain casinos rather than traditional platforms to get all of the advantages of cryptocurrency.
You will have in most cases over a 99% chance of winning due to the tiny house edge required thanks to the blockchain cost savings through automation.