Pre 2020, the Bitcoin and the collective cryptocurrency market was still seen as a joke, then once 2021 hit, ka-boom…, grins from the cynics turned into gawps. The entire market went into overdrive and became major news with NFT sales in art spiking to billions of dollars as a market. The Bitcoin itself along with many other cryptoshit all-time highs and the overall market growth in people investing bloomed.
For many, the idea of digital currency that cannot be held or seen is that of voodoo! But the banks have made the turnaround and currently China, Russia, the USA, and the UK and now taking this very seriously. Are we facing a global financial crash with crypto being the default backup to replace the world’s monetary system? Well, if the idea of having a new world order is something you believe will happen, then with crypto, the one currency coin for the future will be that from the crypto network.
Anyway, why are we discussing crypto? Well, it is to introduce you to the rise of crypto casinos. Long ahead of the curve, they have been supporting owners of numerous crypto coins since 2017.
We are introducing casino services and features that are able to use digital money so that players holding these crypto coins can play games and win more money in return.
What are crypto and bitcoin?
So, for those that are still perhaps hesitant or new to the future of cryptocurrencies, let us give you a clear and precise explanation of what a crypto coin is. First, the whole monetary crypto market is 100% decentralized. This means that there is no central bank or government in charge of it. Why and how is this good and better? Well, for many reasons, the main being that if this were a universal currency, no country would have debt placed upon them by the banking firms that print money at a cost to the government. It is 1000x more secure and payments between users are almost instant.
If bitcoin were the new dollar a banking transaction wouldn’t take the standard 2 to 4 days as it does now. Payment processing would be complete within seconds, so long admin costs and exchange rates and the whole mess that comes with centralized markets.
Bitcoin, as an example, is made up of a unique code of numbers that cannot be repeated, the coin can be broken down into microbits or mBTC like the dollar breaks into cents, but the bitcoin itself has a greater value.
The idea of a digital format of money for many is too unusual, too strange, and far too new to wrap your head around, but it’s no weirder than having a world that is run by numbers printed on a bit of paper, the concept or idea that money is somehow a real thing is a false idea. Most money sits in numbers on a screen in a bank account. Crypto will perform in the same way and will stop the need for our current monetary system. Leather wallet-producing businesses will go bust and vending machines will need to be updated, this is our future.
How bitcoin and casinos work
The relationship between crypto and casino is close. The casino industry is focused more on finance than it is games and when crypto came on to the scene, the casino industry’s ears perked up like an inquisitive dog.
We spoke with the Editor-in-Chief at Norskonlinecasino, her name, Ingerlise Dalen. She manages content that deals with Norway’s top online casinos and produce exclusive bonuses for Norwegian players who are now enquiring about who offers the best bitcoin services in the casino market. This and more can be learned from the site by clicking here, but this is what Ingerlise had to say regarding the casinos now dealing in Bitcoin.
“Right now, on the Norwegian market, there is a lot of interest in crypto casinos due to how that side of the coin market is performing and given that there are a number of sites that do accept cryptocurrencies. For a number of years now, players have had the option to make deposits with Ripple (XRP), Bitcoin, (BTC), Etherium (ETH), and Litecoin (LTC). Casinos started out by accepting the coins, these were converted into US dollars (USD) and winnings made from it were returned in USD meaning that players would have to buy into crypto again. Now, as the tech is savvier, casino developers produced specially made casinos for crypto in a way where conversion into USD is not needed and winnings are paid back in crypto. Over time it will get better as the importance of the digital currency grows and evolves.”
Ingerlise is right here, the future will become better for and towards crypto like bitcoin. The markets and possibilities are insane right now.
Currently, people are buying digital real estate! Head to the new crypto platform of Decentraland and you will see and understand what the possibilities are for the future of online interaction, engagement, and investment.
Parts of the Decentraland universe or metaverse, as it is known, are already hosting a crypto casino built by the gaming company Atari. It is odd, but it is a world that is extremely profitable, and this is understood by those that can see why cryptocurrency is important and of value.
Is bitcoin safe?
The short answer is Yes, and many in the monetary service know and agree that this is a far safer method of payment than the currencies you have in your current bank account. Bitcoin is a currency that is not aligned with a name, account, or other private data. Use of it allows for anonymity and cannot be traced back to you as a user. Now, so secure is it, that concerns are raised that it could be used amongst the dark web and black markets for criminal payments, but crime will be paid in one form or another no matter what.
As stated, a single bitcoin has its own unique number and when broken into mBTC, those fractions of the bitcoin are also given their own mBTC code that can never ever be duplicated.
Is the cryptocurrency free to use?
Using crypto is 100% free because there are no banking costs. The only purchasing or cost involved comes from buying into crypto in the first place. With no bank involvement, there are no admin costs and no fee as a result. If you join a casino online that is not 100% serviceable to the crypto, then there will be the conversion cost to bear in mind, so look out for sites like Playamo which is currently the leading bitcoin and crypto platform online right now.
When and should you invest in crypto, remember to get yourself a crypto wallet to hold your fund in and get yourself a hard wallet that stores your crypto offline so it cannot be under threat if left online.