Online crypto gambling is a steadily growing industry with tremendous growth potential for operators and players. Traditional virtual casino betting and crypto gambling share similar infrastructures, but the resemblance ends there. Crypto gambling requires additional research and market predictions to keep up with real-time values. Fiat currency doesn’t waver as unexpectedly as the cryptocurrency exchange market. However, the exchange will likely address problematic areas and elevate crypto gambling to a whole new level.
Which Cryptocurrency has the Best Return Rate in Online Casinos?
Cryptocurrencies’ uniqueness attracts all casino gamblers, ranging from poker players to slots lovers. Several fiat currency online casinos also accept crypto transactions, but players often wonder which digital token produces the best return rate. Bitcoin is the most notorious digital currency, but Ethereum and XRP follow closely. Bitcoin experienced record growth during the 2020 pandemic but has remained steady on trade exchanges. The crypto exchange market significantly impacts the crypto gambling industry because that’s how tokens’ values are determined.
Ethereum hasn’t experienced the same success as Bitcoin, but Ether tokens are widely accepted for live casino games, such as poker. Ether tokens lack Bitcoin’s reputation, but Ethereum’s private blockchain gives credibility to the cryptocurrency with online gamblers. XRP dominated the crypto casino and trade markets until the Securities and Exchange Commission filed a federal lawsuit against Ripple’s high officers. Crypto exclusive casinos and sportsbooks widely accept altcoins, such as Litecoin. Online gamblers don’t appreciate flexible foundation, believing Litecoin rode Bitcoin’s coattails.
Using Cryptocurrencies for Online Slots
Crypto gambling includes an endless series of online casino games like slots. Blockchain technology has presented crypto and hybrid casinos with a platform to prove their establishments’ fairness. Blockchain’s decentralized platform uses smart contracts to enhance players’ online gaming experience while also increasing the casino’s credibility. Third-party regulators have expressed their concerns about blockchain’s untraceable ledger, stating online slots and digital currencies create the perfect storm for disaster.
Players can rake substantial profits playing slots with digital currencies if they implement strategic wagering practices. Digital currencies may not feel like real fiat currency, but their value is the same regardless. Placing bets with Bitcoin, Litecoin, or other cryptocurrencies has real-time consequences. Using cryptocurrencies to profit at online slots has a high risk to reward ratio that players fail to factor into their wagering habits.
Trustworthy crypto-exclusive online casinos aren’t easy to find. CryptoCasinos.com has comprehensive reviews and guides related to bitcoin casino sites that are worth checking out if you’re looking for a helping hand in the process. Unreliable crypto casinos could scam you and take your money, leaving you with no other means of reimbursement or retaliation because of crypto gambling’s unregulated nature.
Newly Developed Patent Could Bring Crypto Slots to the Mainstream
International Game Technology, the world’s largest slots developer, recently expressed interest in offering digital currencies as a viable payment in select games like Wheel of Fortune. The slots development mogul believes offering cryptocurrency payment options will attract millennials and other young demographics to visit brick and mortar casinos. If the patent is approved, cryptocurrency payment options could be in play before the end of 2021.
Several crypto gamblers remain skeptical about integrating digital currencies into regulated gambling institutions, but hybrid casinos continue producing well-balanced results. Crypto slots gambling still leaves multiple legal gray areas unaddressed, even under the pressure of outside regulators pushing for control. Slots players avoid altcoins because of their volatile nature, but Litecoin could act as an asset when playing online slots under the right circumstances.
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