Gambling and Cryptocurrencies: new in the old

Gambling and cryptocurrencies are two areas that have been actively developing and interacting with each other for several years. Digital money opens up completely new opportunities and degrees of freedom for users. How did the emergence of the Crypto-currency for the gambling industry? Let’s consider this article.

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HEMBLING AND CRYPTUALS: HOW THE DIGITAL MONEY HAS SUBMITTED THE FIATA

If several years ago the industry of online casinos and other related entertainments with a real opportunity to earn money was limited only to dollars, rubles, euros, etc., customary for all, today this border has been erased by a huge number of new cryptocurrencies. At the same time, on some sites users can use not only many familiar bitcoins, but also other altcoins.

It is also worth noting some specificity of online gambling. A sufficiently high level of competition in this segment does not allow participants of this market to stand still, so even if there is no desire to enter crypto-currencies into their own use, eventually they will have to do it. Otherwise they risk being left out. Interesting is the fact that the cryptocurrency boom allowed many small players to get into TOPs precisely by upgrading their gaming systems and introducing bitcoins and other coins into account.

ADVANTAGES OF USE OF CRYPTUALS IN GEMBLING

So, the alliance of gambling and cryptocurrency is a neighborhood that is difficult to deny. What is its advantage for the players themselves?

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Anonymity. The use of crypto currency in the gaming industry allows users to ensure their confidentiality. Crypto-currency accounts are almost impossible to track, unlike standard banking accounts.

Absence of commissions and taxes. The state can not regulate the crypto-financial system, so players do not pay any commissions and fees, except those provided by the casino itself.

Internationality. Bitcoin and other crypto currencies do not have a binding to any state or issuing authority, so you will not need to exchange currencies for the game, etc.

The possibility of free earnings. As you know, you can get a cryptocurrency without investments. There are various cranes where users are given out coins. True, there is not much to get there, but with a successful game in the casino, you can multiply your profits.

Just want to note that we do not lure anyone in the online casino with crypto-currencies, but we simply review those changes that came to the gambling industry along with digital money.

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DISADVANTAGES OF USE OF CRYPTUALS IN GAMBLING

Such combination as gambling and cryptocurrency has a number of its shortcomings, among which we would like to note:

High volatility of funds. If today the bitcoin rate is already almost 10 thousand dollars, then tomorrow it can drop sharply, which will lead to financial losses. Of course, this can play into the hands of the owner, if the value of the coin increases.

Mistrust. Many players who have already “eaten a dog” on online gambling simply do not trust crypto-currencies, referring to their abstractness and renunciation of the real money world.

Unpreparedness. Many users simply do not know how to use bitcoins and other cryptocurrencies because of their “digital illiteracy” or laziness.

It is worth noting, and the fact that gambling and crypto-currencies have unregulated status in government structures, which for many is a very negative factor. To play or not to play for digital money is the choice and desire of everyone.