Crypto Currency Game Guide
The great thing about the online gaming industry is that it is an industry with unlimited growth potential. And the more progress there is, the more improvements there are. Particularly at the level of means of payment, which are more and more innovative. Results ; depositing and withdrawing money just got easier and faster. However, one of the big downsides for online casino players is the lack of an instant withdrawal solution. Big headache indeed, until the crypto currency game (aka crypto gambling) is introduced.
Crypto gambling is definitely changing the way we make payments and cash in earnings. In addition, it opens the doors to a whole new type of casinos: crypto casino sites.
Specialized in cryptocurrency or hybrid (that is to say, offering both the euro and several crypto currencies), the crypto currency casino is a game changer.
Focus on crypto gambling, how it works and what it brings us.
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Switching from Classic Currency to Digital Currency
We have all heard the terms "cryptocurrency", "bitcoin" or "digital currency" in the past few years. Crypto is THE major topic that has made the whole world talk lately.
Its popularity has simply exploded for some time and it can clearly be seen as a phenomenon of our modern age. But what exactly are cryptocurrencies, and above all, what has this to do with the world of online gambling? ? How does this currency work ? Where can we buy it and what for ?
Despite the incredible cryptocurrency boom, there are still many people who know very little about this subject. And that's not surprisingly. This is still something relatively new, although the basic concept is quite simple.
Diving into cryptocurrency for the first time can be confusing to say the least. The amount of information to accumulate can really be overwhelming, but don't give up: if you want to get started and know all about it, we're here to help.
If we are interested in these digital currencies, it is because they play an important role in online gambling. A role that will only become more pronounced over time.
In this category, you will find many articles crypto gambling casino. The information and advice given here also concerns the world of crypto as a whole: how to buy or sell it, how to mine it, how to use it to invest and speculate.
What is Crypto Currency
Basically, a cryptocurrency is a type of currency that only exists digitally and is not linked to any financial regulatory authority. A cryptocurrency is not dependent on traditional financial institutions and is decentralized. It is based on cryptography to prevent fraudulent transactions and counterfeiting.
Well, here you are a little more advanced, but you are far from knowing everything about this motto of a different kind. Let's dig a little deeper into the previous paragraph.
Crypto Currency = Digital Asset
Since this is a digital currency, it does not exist physically. There are no banks that you can withdraw crypto from, there are no notes or coins that you can pay with. These currencies only exist on our computers.
Which doesn't mean they're not real. We can't touch them but they are well and truly there. Think of the money you have in your PayPal account for example, it's a bit the same principle. With one big difference, however: the money in your PayPal account is expressed in a traditional currency, which physically exists and has a constant value that does not or almost never change. Quite the opposite of cryptocurrencies.
The value of cryptos is mainly based on what the markets think it is worth, and what people are willing to pay for it.
Note that cryptocurrencies can be used as a medium of exchange, that is, you can buy goods and services with it, as long as the seller agrees to receive them as payment.
Crypto Currency is Decentralized
We are used to classic currencies like the euro or the dollar. These are called "fiat" currencies, all supported by governments and considered legal currencies. Each currency is managed by the government of the country that uses it: it is responsible for controlling the supply of its currency and can modify its value by increasing the quantity in circulation, and / or by adjusting the interest rates associated with its currency. currency.
The Bank of England, for example, may decide to print more pounds, which normally has the effect of reducing its value since there are more in circulation.
Cryptocurrencies are decentralized since they do not depend on any government or authority. They are not controlled by a single organization or individual, and their quantity is determined by how they are created. Each can be created differently but most of the time it relies on mining.
To put it simply, mining consists of making available the capacities of your computer in order to make possible and secure cryptocurrency transactions. As a reward, the "miner" collects some cryptocurrencies.
Use of Cryptography
Cryptography is a method of digital encryption. It is used to secure transactions, to verify and confirm them. This brings us to a more technical field that you don't need to understand to use or buy cryptos !
Buy Crypto Currency
Contrary to what you might think, buying digital assets isn't complicated. And it’s no harder than buying a traditional currency. The only difference is that everything must happen behind your computer or smartphone.
All you need is an account on a crypto exchange. All you have to do is make a deposit in classic currency, then simply buy the crypto currency of your choice ... or even several if you want to diversify.
You can then resell whenever you want, again against a classic currency ... or against other cryptocurrencies.
There are many interchanges, some better than others. Especially on the costs they involve (because just like on the stock market, you will not escape commissions, however lower).
Coinbase is an exchange platform with an easy-to-use interface but the fees are quite high.
Binance consumer reviews and user feedback rank this one among the best, but there are many others, like Kraken for example.
If your goal is not only to speculate but also to spend your cryptos, you will need a crypto wallet. This is no more and no less where you will store your assets, just like a bank account.
Crypto game: What interest ?
Apart from instant transactions, the most complete anonymity. This is also why crypto gambling is not always recommended everywhere. That being said, if more and more online casinos are turning to these currencies as a means of payment, it is because there is a real demand. Therefore, to become familiar with the crypto game: it is very beneficial.
Let's start with what already makes a big difference for online players: cryptocurrency allows you to make instant deposits and / or withdrawals at a crypto casino. So that withdrawal requests are processed much faster and also easier.
No need to confirm a payment or wait for validation from the bank. Any cryptocurrency you own can be sent to anyone with just seconds behind their keypad.
So, in theory at least, any deposits you make using cryptocurrency can be played immediately. And perhaps more importantly, online casino sites are able to send you any cryptocurrency as a withdrawal, as long as you request and your withdrawal is accepted.
It is also a big upheaval (positive or negative, it has to be seen) for countries where online gambling is illegal, or at least not explicitly legal.
This is the case in the United States for example, where it can be complicated to make a deposit using a credit card. Financial institutions are governed by legislation which prohibits the validation of money transfers to a gambling site, although it is not technically prohibited to gamble online.
When transferring by cryptocurrency, there is no financial organization involved.
To bet or not to bet on crypto currency ?
Part of the strength of cryptocurrencies is that different assets are particularly volatile. This means that they can vary greatly, downwards as well as upwards. That said, movements since the inception of cryptocurrencies are more upward than downward.
Based on this principle, some have managed to make colossal sums of money thanks to their investments in cryptocurrencies and in particular in Bitcoin. Crypto trading has really become very attractive in recent years, for many reasons: it is easy to get started, and you don't have to have a big starting wallet. Besides, it is not necessary to spend a lot of time there either.
Be careful, this may be a dream, but you should also keep in mind that some cryptocurrencies have collapsed, and many traders have therefore left a lot of feathers ! Just like a traditional stock market investment, trading in cryptos involves real financial risk, especially as the volatility is greater than with traditional financial instruments.
Clearly, buying and reselling cryptocurrency for sure can be profitable for you, if you know what you are doing. Since this is a young market, however, it is still more difficult to predict exactly the direction a virtual currency will take, whether in the short term, medium term or long term.
If you have a little bit of cash aside that you want to risk, then cryptocurrencies can be a good idea. As long as you are well informed on the subject and do not do anything !
How to Play in Crypto ?
To get started in crypto games, these few basic steps:
- Choose a crypto wallet that suits your budget
- Buy tokens according to what suits you and your budget
- Choose an online casino that accepts cryptocurrency (preferably several)
- Deposit tokens on your player account
- Select the game you want to play
- Keep an eye on the value of the cryptocurrency you have in your player account
The process is similar to what you would follow if this was a standard online casino, the only difference being the addition of the crypto wallet. The act of playing is the same as you would with standard currency, as many of the same games are available with the addition of others that are exclusive to crypto casinos.
Best Crypto Casino Sites
Finding the best crypto casino is not that easy, as this phenomenon is quite new. It is therefore evolving at high speed.
This being the case, we are obviously following all of this very closely and we have already been able to give you the list of best crypto casinos who currently stand out.
Do not hesitate to follow all our information on cryptocurrencies and on casinos that accept these currencies of a new kind. Moreover, the most used cryptocurrency in these online casinos is generally the bitcoin.
And if you are really passionate about the subject, there are many sites like NewsCrypto that will allow you to become a cracker on the subject. In the meantime, what is certain: crypto casino sites are growing in popularity. Ultimately, we should therefore see more and more traditional online casinos migrate to offer cryptos instead of traditional banking methods.
And then, we can always speculate on the imminent disappearance of traditional banking methods. Even if it is certainly not tomorrow the day before.