You don’t need to be a trading mastermind in order to successfully invest in cryptocurrencies nor do you need to spend big money in order to store your cryptocurrencies safely. Online cryptocurrency casinos are a fantastic way in which to win cryptocurrency whilst they can also be used as a safe haven for your valuable online coins.
Online casinos have existed for many years now, however, it is only recently that they have begun accepting payments in cryptocurrencies. The explosion in media coverage surrounding Bitcoin in 2017 meant that cryptocurrencies became known household names. Prior to 2017, cryptocurrencies obviously did still exist but they were mostly used – Bitcoin especially – in order to make anonymous transactions to buy drugs and other illegal implements on the black market.
Since the so-called Bitcoin boom of 2017, more and more mainstream retailers have begun accepting Bitcoin as a payment option, including Subway, Microsoft and Virgin Galactic amongst a variety of others. In addition to online retailers, online casinos now accept deposits and withdrawals in a variety of different cryptocurrencies.
At certain online casinos, cryptocurrencies including Bitcoin, Ethereum and Litecoin can be used to play a variety of casino games from online slots and blackjack to bingo and roulette. Bitcoin casinos are currently the most popular out of all the different crypto casinos. However, Ethereum and Litecoin casinos are beginning to see some traction.
Advantages of playing on cryptocurrency casinos
- Safe and secure – Thanks to the security of cryptography, cryptocurrencies are protected against outside threats.
- No exchange rates – Your cryptocurrency can be used at international level and you will not encounter any problems regarding exchange rates.
- No deposit fees – The majority of online casinos will not charge you any deposit fees to play using cryptocurrencies.
- Opportunity – The value of your crypto could increase exponentially overnight.
In the current climate, cryptocurrencies are mainly seen as investment opportunities. The majority of investors would of course like to see a cryptocurrency like Bitcoin replace the current central bank controlled Fiat money system, nevertheless, many Bitcoin investors have invested their money in the hope that the price of the crypto coin will grow substantially enough for a large profit. The price of a single Bitcoin grew from its price in 2011 of $2 to a staggering $25,000 in 2017. Currently, the price of bitcoin is highly volatile and very susceptible to sizeable price fluctuations. But one advantage of depositing and playing using Bitcoin on an online cryptocurrency casino is that it is possible that the value of your casino winnings could double or even triple overnight.
For an investor it is perhaps safer to use cryptocurrencies that are not as volatile as Bitcoin and also not as expensive. Litecoin and Ethereum are great choices with remarkable potential. Currently, online casinos such as Mansion Casino and Net Bet offer their players the chance to deposit and withdraw cryptocurrencies – both of the aforementioned cryptocurrencies can be used via these casinos.
If you are not aware, buying cryptocurrencies with your fiat money is very straightforward. The easiest and most common way is to buy your crypto from an exchange – Coinbase, for example. You can also buy from a person looking to sell or you can mine the coins yourself – this obviously involves cryptocurrency mining knowledge.
It is also possible to buy a percentage of a crypto currency. For example, regular people cannot always afford to buy a whole Bitcoin; instead they you are able to buy a percentage of a bitcoin. You are able to buy anything from one tenth of a Bitcoin up to a one hundredth million of a Bitcoin – also known as a Satoshi.
Cryptocurrency casinos are certainly becoming more and more popular in the world of online gambling. The security and anonymity surrounding cryptocurrencies makes them an ideal casino payment method and casino wallets can be a secure way to store your crypto. Of course, there are various ‘wallets’ that can be used to store your online crypto cash so be sure to check out our page discussing these wallets.
Whether or not cryptocurrencies are the future of our monetary system remains to be seen, but at this current moment in time, cryptocurrencies can be a fantastic –albeit risky – investment opportunity.