Gambling and Trading in Crypto
More and more people are trading cryptocurrencies, and there are now hundreds of cryptocurrencies in circulation. So it’s not surprising that the first crypto casino or Bitcoin casino already exists. Where are they and what can they do?
Online casinos are also discovering cryptocurrencies and offering more and more opportunities to gamble with cryptocurrencies. In reality, there are three types of digital arcades:
1. casinos that can only be played with crypto coins (crypto casino)
2. casinos that can be played with real money and crypto, and
3. casinos that cannot be played with crypto.
What does gambling have to do with cryptocurrencies?
Bitcoin may promise a real revolution in financial affairs, but cryptocurrency trading is now of particular interest to investors, and gamers. Cryptocurrencies, including Bitcoin, have been popular since 2011, especially since 2014. Since then, the number of various altcoins and alternative coins has skyrocketed like mushrooms.
There is, of course, a lot of junk in the meantime, but certain coins are intended to improve Bitcoin’s weaknesses or perform completely different functions. And that can lead to great development.
Can I play cryptocurrencies at online casinos?
In the Netherlands, cryptocurrencies are not recognized as legal tender, so gambling with cryptocurrencies is not officially permitted. Legal digital gambling halls in the Netherlands must have a valid license after October 1, 2021, so parties such as Holland Casino, TOTO, and Bet365 do not offer the opportunity to play crypto.
What are the similarities and differences between gambling and buying cryptocurrencies?
So far, Bitcoin prices have risen over the long term, so this could be a very interesting business to invest in and upgrade to casinos-although it remains gambling, of course. Moreover, the price of crypto coins is not stable.
The risk of Bitcoin is so high that it can fall very quickly in a very short time. In this regard, buying crypto is a considerable bet.
Is playing at the Bitcoin Casino different from a regular online casino?
Gambling at Bitcoin casinos is almost the same as gambling at regular online casinos, slot online, online pokers, etc. Apparently, it offers the same strengths and weaknesses as a land-based casino: it’s more anonymous, you can do it from home, the gameplay is very smooth, and there are many active players.
The downside is that you have to put up with the fact that there is no supervision and the casino is open 24 hours a day, 7 days a week, which is a disadvantage if you are prone to addiction. The range of games you can play is the same, and cryptocurrency casinos work with exactly the same software providers as regular online casinos such as Evolution Gaming and NetEnt. In reality, only the payment method is different, but nothing else.