There’s no denying that cryptocurrency has come a long way over the last few years and it plays a bigger part of our daily lives than ever before. Not all coins are as accepted as others, which makes sense, but more and more businesses are coming around to the idea of accepting crypto.
BitStarz and 7Bit Casino are two of the first casinos ever to accept crypto players, which in 2014 was a much bigger deal than what it is for a casino today. Playing online with your favorite crypto is basically taken for granted by now and maybe it’s because the two have a lot of things in common.
If you are a crypto player yourself, I’m sure you can relate to the similarities but even if you’re not yet a crypto user, you might learn something new.
1) Dependent on the Latest Exchange Technology
Mining your own crypto is a highly interesting concept but for a variety of reasons, the number of crypto users doing it are below 10%. Others need to get their crypto from an exchange. This means you are relying on the latest technology in banking services.
Making deposits or withdrawal at a casino works similarly in the way of players having to deposit money in order to get casino credit. This will allow you to play slots, poker or to place bets on sports etc. Once again, you are dependent on whatever banking service the casino uses.
2) High Risk, High(?) Reward
Crypto and online gambling both involve its fair share of financial risk. The volatility of BTC, ETH, USDT and other cryptocurrency can cause the value to fluctuate rapidly and therefore possibly result in significant financial losses.
It can also turn the other way and the value of your crypto can shoot through the roof, as we have seen on many occasions.
Online gambling works the same, even without the added stress of volatility. Instead, gambling in itself is very risky and you can end up losing money very quickly if you’re not being careful.
On the other hand, with a bit of luck you can be very fortunate and see your account balance increase tremendously.
Be smart and you should be just fine.
3) Rules and Regulations
There are a lot of changes and adjustments along the way, in terms of rules and regulations, for both cryptocurrencies and online casinos. Some countries and markets are closed for both parties, others allow them with certain restrictions while some are wide open, ready to play.
4) Big Online Community Forums
Online forums have been a big part of the casino world for a long time and players find it extremely useful. The same goes for crypto enthusiasts. Forums are a great way for people to discuss problems and ideas or just engage in conversation about their shared interests.
Crypto, specific games or casinos are popular topics of discussion. This is also a way for people to keep up with trends and what casinos, coins etc that are trustworthy.
5) You Can Be Anonymous
One of the biggest reasons why people love both crypto and online casinos is of course the anonymity of it. Just imagine if you had to use your actual name and for it to be displayed for everyone to see when you are logged in.
The crypto world offers a high level of anonymity, as users can transact without revealing their personal information. If you are someone who prefers to maintain your privacy, cryptocurrency is a great place to be.
Considering the fact that you can also gamble online using crypto, it’s basically a win-win situation.
Of course, these similarities are only a few out of many between the two. Regardless of which one you are interested in, I fully recommend using both reputable and trustworthy online casinos and/or crypto exchanges.
Since you are reading this, you probably already know that you can find the best online crypto casinos right here on BCK. If you haven’t already looked, I have a long list of my favorite places to play and all you have to do is click here.