Cryptocurrency has slowly сome into our lives, and now its presence is felt like never before. Over the past few years, the use of crypto currency as an alternative method of payment has gained wide popularity. In addition, the introduction of blocking technology added an additional level of protection and transparency of each transaction.
Bitcoin is considered the gold standard of the cryptocurrency world with huge potentials: 28 million users and an ever-growing community. Despite market fears in early 2018, its popularity continues to grow. Bitcoin was the first cryptocurrency to gain popularity on online gaming platforms. A new trend was the distribution of Bitcoin casinos – specialized casinos that operate only on this crypto currency.
Nevertheless, other cryptocurrencies also become known
Silver standard was Ethereum, which also continues to grow. Lower transaction fees, faster payment processing and a high-speed network are some of the reasons for the growing popularity of Ethereum. Litecoin, Ripple, Monero, Dogecoin, ERC20, Edgeless and HEROcoin follow them. Nevertheless, we are still at the beginning of this revolutionary movement and the cryptocurrency will probably change the face of gambling and increase access to this market around the world.
The technology of Blockchain has the potential to change an infinite number of spaces, but nowhere will the future of technology be brighter than in the field of online gambling. Blockchain is an ever-growing list of records, called blocks, that are linked and protected by cryptography. The advantages of this technology in online gambling are numerous. Blocking technology allows you to significantly increase the speed of transactions compared to the traditional deposit and withdrawal of funds. Generally, it can take from three to five days to receive a winnings from a gambling website. However, the Blockchain command will do this almost instantly. Play bitcoin poker does not now sounds wild and impossible.
Currently, the field of online games is an unreliable space
In centralized systems, it is difficult to understand whether the settings were set so as to minimize your winnings. In turn, Blockchain technology can provide uncompromisingly fair operation of casinos or slot machines and ensures that you will not become a victim of deceit – both from the casino and from fraudsters’ players. bitcoin poker chips and bitcoin poker room have the same advantages
In addition, to participate in online gambling, the player must be able to make transactions using the traditional banking system. However, cryptocurrencies allow doing this to anyone who has access to a computer and the Internet, and this opens the world of iGaming for people with limited access to banking services. Betcoin poker review on the web page describes and consider this more profound, so if you need to know more – just visit this site.
Banks, in addition, include too many intermediaries in the casino-player equation, which leads to a rise in the cost of transactions and additional fees from customers who want to withdraw money. Platforms, such as CashBet, offer significantly more direct and efficient transactions. Online casinos usually offer only 3-5 games, while blockbuster platforms, such as CashBet, provide access to more than 50 games using a simple B2B (business-to-business) platform integration. Best bitcoin poker site will also offers you a special btc poker with its own currency.
Blockchain-system systems in the arena of online gambling are still few, but their future is very promising
Operators of gaming platforms with a history and reputation have already begun to integrate solutions into their systems on the blockroom. For example, known fiat operators, such as Greentube and Lottery.com, allowed customers to use crypto currency as a payment method.
A wider adoption of the block is also associated with crypto-token tokens, which can be used not only on one website. CashBet Coin (CBC) is a vivid example of such a token, as it will be used by various websites and applications of partner companies, effectively creating an ecosystem based on CBC.
And, finally, the creation of a consumer protection system will be a welcome addition to the picture of online gambling. Currently, too many cryptocurrency casinos operate illegally or with unverified licenses – exposing consumers to risk. In addition, most of them simply do not have procedures for combating money laundering, providing terrorists and criminals with a fertile environment for money laundering.
In addition, most of them also have virtually no basic tools to protect those at risk: young and troubled players. This will change as soon as regulators legalize gambling with the use of crypto currency.