The Difference Between Crypto Casinos and Traditional Casinos
Every crypto enthusiast is likely to have come across gambling in the crypto world. It’s everywhere! There are online casinos, dice games, poker rooms, sports betting platforms; you name it.
Today we will take a look at crypto casinos and focus on what they offer and how they stand out from regular online casinos.
What Crypto Casinos Offer
Crypto casinos are cryptocurrency-based gambling websites. They accept crypto coins for deposits and offer them as rewards both on regular rounds of play and for big wins at slots or lucky draws.
You might have guessed that crypto casinos are all about being crypto itself! If you want to play at a crypto casino, you will have to exchange some fiat money for crypto coins, so you will have to find a crypto exchange platform and open an account there.
This is where crypto casinos and traditional online casinos differ: crypto casinos accept crypto coins in addition to fiat money. This might be both good and bad, depending on your preferences.
While crypto casino players don’t need to go through the hassle of converting their crypto coins back to fiat, they also can’t withdraw their crypto winnings as crypto.
Provably fair algorithms
Another beautiful thing about crypto casinos is the use of provably fair cryptographic algorithms. This means that a transaction hash or a string of random numbers generated within a crypto casino platform in a user’s browser when requesting a betting outcome cannot be tampered with by crypto casino owners.
This means that crypto casino players can request their transaction hashes after every round of play. If they notice that the number doesn’t match what they got earlier, they know that crypto casino operators are cheating them out of money.
Aside from crypto coins, crypto casinos use traditional fiat money currencies like USD and EURO.
Welcome Bonuses and Promotions
Unlike traditional online casinos that offer welcome bonuses only on the first deposit, crypto casinos tend to provide them on every crypto coin deposit. The welcome bonuses usually come with wagering requirements, but they are often relatively low.
Sometimes crypto casinos offer free spins or small bets with no wagering requirements (at least until you withdraw your crypto winnings).
For crypto casino beginners, there are exceptional guides available on crypto forums and crypto blogs that explain how crypto casinos work and what crypto casino terms like wagering requirements, crypto deposit bonus, crypto-to-crypto rates mean.
Other Points of Difference
Here are some other things you should know about crypto casinos:
Unlike traditional online casinos that charge transaction fees for every crypto coin withdrawal, crypto casinos don’t. Crypto coins are sent directly from crypto exchange platforms to casino players’ crypto wallet addresses, so withdrawal fees are non-existent.
Crypto casinos don’t have KYC procedures that require you to verify your email or upload ID documents first before playing. Instead, the first time you log into a crypto casino platform, they warn you about not having verified yet.
On crypto casino platforms, you can play directly with crypto coins without converting them back to fiat money first.
What Traditional Casinos Offer
Traditional online casinos have been around for a long time now. They might not be crypto, but they have successfully developed unique gaming platforms and special offers to attract new players daily.
Here are some of the most famous traditional casino games: slots, video poker machines, roulette tables, table games like blackjack and baccarat, live dealer games, and many others.
Compared to crypto casinos that allow crypto coin deposits, traditional online casino platforms only accept fiat money.
Other than the currencies they accept and the privacy you get using cryptocurrency, there are many similarities between an online casino and a crypto casino. One of the most important similarities is that crypto casinos and traditional online casinos offer similar games. From roulette to slot machines, table games like blackjack and blackjack, just like you would find at any other casino.
The crypto gambling market is still relatively small compared to its traditional counterpart, but it’s growing fast. An increasing number of crypto gambling websites are being built every month, so the competition is heating up. Crypto casino owners are constantly looking for new ways to attract crypto-gamblers, first and foremost crypto casino beginners.
One of the best ways crypto casinos attract crypto newcomers is by offering them crypto deposit bonuses on every coin they deposit into their crypto casino accounts. Many crypto casinos also offer free spins or no wagering requirements once you withdraw crypto coins from your crypto casino account.
One of the most significant differences between crypto casinos and traditional online casinos is that crypto casinos don’t have KYC procedures, meaning you can play at a crypto casino without verifying your email or uploading ID documents. You will only need to do this on your first visit to a crypto casino platform.
The number of players at crypto casinos continues to increase daily. Many crypto users prefer crypto casinos over traditional online casino platforms because crypto coins are sent directly to crypto coin holders’ crypto wallet addresses, so there’s no need for crypto casinos to pay transaction fees every time a player withdraws their winnings.
Generally speaking, both crypto and traditional casino players can enjoy playing at almost any crypto casino or conventional online casino. The only difference is the payment method they accept. Crypto casinos also offer players a more anonymous way to deposit and withdraw crypto coins than traditional online casinos, where fiat money is the only accepted currency.
Given everything we’ve discussed so far about crypto casinos, it should be clear that crypto casinos offer many benefits.