Bitcoin was launched in 2009 and now, more than 10 years on, it looks like it’s here to stay. This cryptocurrency and others have gained steadily in popularity, as more people begin to mistrust the banks, trying to freeze them out of the equation and putting their faith in these digital currencies which they see as more secure and trustworthy.
Likewise, Bitcoin casino sites have also enjoyed popularity, with users enjoying anonymity and being able to take advantage of lower charges if any at all. Traditional online casinos that don’t accept Bitcoin or operate with blockchain technology could well be missing out.
Bitcoin casinos in 2020 – what does the future hold for them?
Perhaps one of the biggest Bitcoin casinos by far was Bitstarz — and with good reason, too. The site hosts more than 2 000 games and accepts a variety of cryptocurrencies. Litecoin, Ethereum, Bitcoin Cash, and Dogecoin are all as welcome as Bitcoin. Even if you’re not a fan of digital currency, you can still play there and go “old school” with Visa, Mastercard, Skrill, or bank transfers.
Such is the popularity of the site that surely it can only get bigger in 2021. The customer service has earned it substantial favor with players and enjoys a good reputation. This and an intuitive user experience that makes life easy at the casino, even for newbies, all keep the players coming back for more.
It’s hard to know what the future holds for Bitcoin casinos, but perhaps it’s fair to say we’re going to see more of them. The launch of Ethereum casinos exploded in 2019, with the Edgeless Group now running entirely on the Ethereum blockchain, and now we’re seeing more casinos employing blockchain technology.
Some experts have predicted that institutions will take more of an interest in cryptocurrencies as an investment vehicle, which could be something of a double-edged sword. Although the institutions may come alive to the opportunities digital currencies present, their new-found interest could bring digital currencies more closely under the regulatory spotlight … something which crypto casino technology may or not like because it could scare away some of their customers, who cherish the anonymity that digital currencies afford them.
The alternative casinos
Bitcoin has been viewed by many with skepticism in the past, for example, it was banned completely in India until March 2020. However, the Reserve Bank of India overturned that decision, and the currency is now thriving in the country, meaning there are now plenty of bitcoin casinos available to players in India, as demonstrated on bestcasinosites.net. You pay with a cryptocurrency; you receive your winnings in a (unique) cryptocurrency that you can use at the casino, can gamble further, or exchange for a different currency.
One such casino is Funfair, in which players pay with FUN tokens. “Fair” is the operative word at this casino, which strives to attract players by being safer and fairer than even the best Bitcoin casinos.
This is thanks to the use of smart contracts. Players can play and always be sure they’ll receive their winnings; and on top of that, receive them quickly. They’ll also play in real-time, using the currency they have in their wallets there and then and not need to pay a deposit.
This is all really something because one of the joys of Bitcoin is that it’s borderless. There are no transfer fees, so you can play at sites from as far across the world as India, and everything will be okay. If you wish to preserve your anonymity when you play, Bitcoin allows this, which is why the institutions don’t especially like digital currency.
The purpose of anonymity isn’t to hide criminality. This anonymity, which Funfair also allows, stops people from having to enter sensitive financial information. As a result, this makes playing at the casino safer.
The use of smart contracts at Funfair also facilitates fairness. Some believe they can never be quite sure how fair the game is for the player at some digital currency casinos, but this is different at Funfair. Games are played in an even, unbiased way. Whoever wins, they do so fair and square. If you lose, you’re unlucky, but you also lost fair and square, if there is such as expression when it comes to describing loss.
In 2020, Funfair was still going strong and had gone even more mainstream since the initial funding for the FUN tokens in 2017. Last year, the casino expanded into Japan, a country which has gradually started to warm to digital currencies in the last few years, with the nation’s Financial Services Authority (FSA) giving it the go-ahead although the government still isn’t 100% “okay” with cryptocurrencies. Even in the early days of the pandemic, the FSA was still approving cryptocurrency exchanges.
Exciting times lie ahead for cryptocurrency casinos as players seek the opportunity to play in safety and in anonymity. Even in the digital world, the cryptocurrencies may also be offering them a little extra convenience of not having to rake around for a card or a bank account number to play. It’s not surprising they’ve become so popular.
Back link A preview of Bitcoin casinos and blockchain tokens in 2021 | CoinCodex https://cloudtokenplus.com https://cloudtokenplus.com