Crypto Set to Dominate Around the Gambling World

Cryptocurrencies will continue to dominate the gambling industry, with many online platforms accepting the crypto this year. Many people enjoy and prefer these transactions from deposits, withdrawals, and gameplay in Bitcoin and other digital currencies because of security and anonymity. Traditional payments will still remain an option for the biggest gambling sites, but now, cryptocurrencies are slowly replacing these old methods because many just prefer being anonymous and untraceable, especially with something as sensitive as gambling.

On top of that, the added security of crypto makes consumers feel more at ease because identity theft and hacking are minimized. Thus, crypto has grown to become the prime and preferred choice for many gamers, and it will continue to be this way for the forthcoming years.

I’ve yet to find a casino where you can remain anonymous because you are depositing using crypto I joined 2 recently that only accept crypto and you still have to go through a verification KYC

The problem is that Bitcoin and other cryptocurrencies tend to have enormous changes in their value during a short period of time. So the value of the cryptocurrency you won can normally drop by 30+% just before you manage to complete the withdrawal. That's what I'm really concerned about.

I would like to know why you copy and paste text from a different website? 🤔

https://bit.ly/3xTqY3m

By the way, I share Daniel's concern too.

I have been using Blockchain Bitcoin for about 2mths now and so far the fluctuations in rises and falls have been minimal

Hello nigeljc,

that's good to know. Hopefully, it will last longer.

which cryptowallets do you use for deposit or withdraw?

The 2 user friendly ones I found were Blockchain and Coinwallet. Blockchain at first was a little bit difficult for me to work out but once I did everything was OK. Coin wallet is more simple I have only deposited which is easy. I haven’t withdrawn so I don’t know if the process is as fast as Blockchain it could be. Both come with fees for transactions, Blockchain is a bit cheaper. You have to accept their are costs involved if you decide to use a crypto wallet facility.

many thx for your detailed response ) now I use only ewallet...Skrill and Neteller, sometimes ecoPayz )

Massive fluctuation of price is still a biiiig problem - people that enjoyed bitcoin skyrocketing last year to play on casinos are probably a bit anxious with the dramatic fall of the past months...

Some stablecoin have a way bigger potential there to try and bring the best of both world together though.

Also yeah, being anonymous with cryptos on Casinos where you are supposed to verify you identity if you want your earnings..... 😏 Not talking about the fact that crypto is getting more and more scrutiny from governments.

The boom of crypto casinos un-un-unregulated is also worrying as it draws people in with this "100% untreacable world" image, but that's also the perfect place to get every winnings blocked forever by those shady websites.

So crypto might be better, but it's not all white - and clearly still requires caution.

That's what I say every time someone discusses crypto in casinos. I'd say the biggest problem is that when you win a certain amount of crypto, the price can drop by more than 30% until you manage to verify in the casino, withdraw the winnings and convert it to real money. We also experienced the opposite in past. A player won some amount of BTC, the casino didn't want to pay it out so the player submitted a complaint and we started dealing with it. It took a few months until we reached the point when casino agreed the player is right and deservers the winnings, but the casino didn't want to send the amount of bitcoin that the player won, because the value increased about 5 times.

Yep that's the best way to create issues on both side at the moment... Playing with speculation tokens does not sound great from the start 😄

But the future still look interesting for those!

Sadly, will the uprising obstacles associated with "standard" payment options, I also think that cryptocurrencies will shine in the future.

This is a great interview with crypto expert and critic Molly White. https://www.spiegel.de/international/world/interview-with-crypto-critic-molly-white-there-s-so-much-hype-a-1fe6bb19-83ba-4b02-a77a-7585fb38bc54

Her site Web3isgoinggreat is a project where she lists Examples of ventures and grazy investments in Web 3 and crypto that failed or will fail soon. It's well worth to read some of the stories.

I also think that crypto casinos would be the future. It allows me to be anonymous whenever I am playing. 

There are some side effects as well, I'd say, especially associated with withdrawals, as Frankey, suggested.

What do you think about the big and fast changes in crypto value? Aren't you afraid that you simply lose part of your winnings when the crypto value drops too fast?

I enjoyed reading this article

Thanks. Have a look at her Blog. She got some interesting topics there. The link is in the article.

This depends on where you play. If the Casino is located in the EU you won't be able to deposit or withdrawal because the EU is outlawing anonymous Crypto transactions. Meaning if you use a selfhosted wallet or not KYC verified with a platform that's accepted by the EU like Coinbase you can't play.