Gambling with cryptocurrencies: Interesting facts about playing casino games with Bitcoin & Co.
Two industries are experiencing an enormous hype right now: On the one hand, virtual casinos can be named here, which have been able to show quite considerable increases in turnover for several years.
There are occasions when we here at ReadyBetGo want to bring you interesting facts about the gambling industry When something catches our eye, we will publish it for your enjoyment. 
Photo by Clifford Photography on Unsplash On the other hand, cryptocurrencies are also taking off, becoming more popular and interesting for the mainstream.
A merger of these two industries is not just a perspective of the future, but has long since become a reality thanks to crypto casinos. But how and why are virtual coins so sought-after that they also play a role in gambling?
What makes crypto so popular as a currency in gambling?
On the one hand, the increased demand for cryptocurrencies is responsible for this. While in the early years it was almost exclusively nerds who invested here, today it has become quite ordinary. This creates a desire not only to invest in cryptocurrencies, but also to use them.
A crypto casino makes that possible. Here, a value of entertainment can be added to your stock of cryptos which gives the use of cryptocurrencies finally a purpose. Bitcoin, Ethereum and other coins are becoming more and more popular as a payment method in casinos.
Security with cryptocurrencies & blockchain
The blockchain is considered one of the most secure ways to make payments. All transactions are stored in a decentralized location and are unassailable. Neither the casino nor the player have the possibility to manipulatively intervene here. Apart from the transaction it is also possible that online casinos of the future will be based on the blockchain technology itself.
The prerequisite for a truly sensible and secure game nowadays is choosing the right crypto casino. It is worthwhile to look at objective test reports here. Pros and cons are discussed and evaluated. After doing your research you are on the safe side as a user.
No government restrictions for crypto casinos?
Many countries have decided to legalize online casinos. On the one hand this is a step in the right direction, on the other hand it is a restriction for players. In some countries, for example, entire live casinos were closed because they were classified as potentially addictive.
However, state regulations in some kind always exist when it comes to gambling. And that's where cryptocurrencies get very interesting. Their use is not regulated by the state, as they are not officially counted as currencies. Consequently, crypto casinos can also offer live games, table games and other games that have been banned in some countries.
Here is the twist: Before the law, cryptocurrencies are considered as a kind of gambling money. Accordingly, there is no state justification why its use in online casinos might not be allowed.
What are the connections between crypto investors and gambling fans?
What do casino players and crypto investors have in common? Their mentality! It takes courage to invest in a decentralized virtual currency. The market is volatile, fluctuations occur, and good nerves are needed. But those who invest in Bitcoin and Co. have these good nerves needed. A similarity to online casinos or sitting at a poker table can be seen here. Anyone who is willing to invest money in a game must expect to lose the entire amount.
Thus, gamblers are often more willing to take risks than the average person and have to be prepared for losses. A clear parallel to the crypto investor, who can also lose everything in the worst case. So it's not hard to explain why crypto owners appreciate the emergence of more and more Bitcoin casinos. They have gambling in their blood and it shows.
Maximum speed for deposits and withdrawals
Anyone who has ever played in a classic real-money casino knows the waiting time for payouts. An annoying factor because when a win is made, it should land in the account as soon as possible. Often, the verification of the customer is the first step to take. Then up to 72 hours continue to pass until the amount is finally paid out. In crypto casinos, these waiting times are simply not a thing.
There are no different stages that a transaction has to go through. In real time, it is possible to deposit and withdraw cryptos. As soon as a profit is made, it is already credited to the wallet. Decentralized, directly anchored in the blockchain and without ifs and buts. Verification of the data is also not required.
The only data entry is made when the wallet is opened. This can only be used if the correct customer data is deposited and verified. The crypto casino, on the other hand, does not need to know the customer data. Here, the wallet key is sufficient to confirm deposits and receive withdrawals.
Decentralized currency ensures cheaper costs
One problem with using casinos are the transaction costs. Up to 5% is due when a deposit is made by credit card or classic payment methods. With this, online casinos cover the taxes and processing fees. The decentralized cryptocurrency, on the other hand, comes with significantly lower transaction costs. There is no intermediary authority that has to verify such a transaction.
It is stored autonomously via the blockchain, and security is not affected by this. The cost-benefit ratio is therefore just as balanced on the side of the casinos as it is on the players.
How to use cryptocurrencies in online casino?
If you are new to cryptos, you might be wondering how to make a deposit. The prerequisite is the possession of a wallet, which can be quickly registered with the desired provider. The following five steps show how easy it really is to use Bitcoin and Co. in the casino.
Register crypto wallet
Digital and physical wallets can be used in the crypto casino. If such an exchange is already available, only the key must be kept ready. Registration is possible with the provider of choice.
Deposit Coins
In order to use the wallet, cryptos must be available. Depending on the casino and wallet, often more than 20 currencies are supported. The best known is and remains Bitcoin.
Casino choice
The third step is to choose the right online casino. Make sure that cryptocurrencies are accepted as a deposit method and that your account balance is also displayed in the certain cryptocurrency.
Bonus Search
Virtual casinos with cryptocurrencies often lure new customers with nice bonuses. It is therefore worthwhile to compare here more closely in order to take the best offer.
Deposit
If there are enough coins in the wallet, all that needs to be done is to select the corresponding currency in the cashier area of the virtual arcade. After the transaction has been confirmed, the money is available.
Conclusion & outlook: Many more exciting innovations await us in the future
The outlook for the future of crypto casinos is very interesting. Combined with the benefits of the future Metaverse, which Mark Zuckerberg is still working on, there could be a lot of variety and immersiveness waiting here.
It is not only thanks to VR and AR that there will be the possibility to participate more directly in the game in the future. The willingness of the iGaming industry to invest in innovations also plays a big role.